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200206958 work has been completed to Lender 'a satisfaction, provided that such inspection shall be undevtaken promptly. Lender may disburse proueeds fur the repairs and municipal in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made In writing or Applicable Law requires interest to he paid on such in ce proceeds. Lender shall not he reported to pay Borrower any interest or earnings on such proceeds Pees for public adjusters, or other thiod panics, retained by Bovower shall not he paid out of the insurance foresails and shall be the sole obligation of Burrower. It the restoration or repair is not economically feasible or Lender's security would he lessened, the Insuraime proceeds shall be applied in the sums secured by this Security instrument, whether or art then duo, with the excess, if any, paid to Borrower Such insurance proceeds shall be applied in the order provided for in Section 2 If Burrower abandons file Properly, Lender may file, negotiate and settle any available insurance Flown and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the elnlm.7be 30 day period will begin when the notice is given. In either event, or if Lender acquits the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any it proceeds in an amount not to exceed the controls unpaid under e Note or this Showily Instrument, (b) any other of Borrower's rights (other than the right tea any refund of unearned premiums paid by Borrower) tender all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the heriance proceeds either to reliance restore the Property or to pay amounts unpaid under the Note th this Security Instrument, whclhcr or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall crn i nt pre to occupy the tr' Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrowers colonel. 7. Preservation, Maintenance and Production of the Property; Inspections. Bonomer shall not desiory, damage or impair the Property, allow the Property in deteriorate or commit waste on the Property_ Whether or not Borrower is residing in the Property, Borrower shall maintain the Properly ill order to prevent the Property from deteriorating or decreasing in value due to its condinon. Unless it is dctumincd pursuant to Section 5 that repair restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance of condemnation proceeds am paid In connection with damage o, or the taking of, Bte Property, Borrower .shall Ile responsible for repairing or restoring the Pori only if Lcndcr has released proceeds for such purposes . Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments is the work is completed. if the incur w or ondemnation proceeds are not sufficient to repair in restate the Property, Borrower is not relieved of Borrower's obligation for the complexion of such repair or restoration. Lender or its agent may make reoplable entries upon and inspections of the Property _ If 91 has reasonable cause, I court may inspect the interim' of the improvements on the Property. Leader shall give Borrower notice at the time of or prior' to such all interior inspection specifying such reasonable cause. X. Borrower 's Loan Application. Borrower .shall be in default if, during the Wan application furless, Burrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or numerous information of statements in Lender on failed to provide LcmIm with material Infortmai0a) in cp caion with do Was Material represmntatluas include, but am not limited tol representations cormr ing Borrower's occupancy of the Property as Borrower's principal residers", 1=j51NEloite Pour I ores — — Form all 1101