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200207253 work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender deny disburse proceeds for the repairs and restoration in a .single payment or in a series of progress payments as the work is wmPlotcd. Ihdess an agreement is made in writing or Applicable law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or rings on such proceeds. Pees for public adjustors, or other third ponies, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Hermower_ If the restoration or repair Is not economically feasible or Lender's amenity would be lessened, the insurance proceeds shall he applied to the sums seem Of by this Security Instrument, whether or nor than duo, with the excess, if my, paid to Borrower_ such insurance proceeds shall be applied in the order provided for in Section 2, If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. IC Borrower does not respond within 30 days le a notice from Lender that the Insurance co net has offered to settle a claim, then bender may negotiate mid settle the claim. I'he 30 day Period will begin when the entice is given. In either event, or if Lender acquires the Property coder Section 22 Or otherwise, Borrower hereby assigns to Lander (a) Borrower's rights to any insurance proceeds n amount not to exceed the amounts unpaid under the Note or this security Instrument, and (h) any other of Borrowefs fields (outer than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the tarvorme of the Property. Lender may use the insurance proceeds either to repay or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then duc. 6. Occupancy. Harrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days error the execution of this Security Instrument and shall continue to occupy the Property no &mower's principal residence Cur at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreismwbdy widdneld, or unless extenuating circumstance; exist which are beyond Iloaowln,s wnttol. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in under to prevent the Property from delerioradng or decreasing in value due to its condition. Unless It is determined pursuant to Sciatica 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if drowsed to avoid further deterioration or damage, If insurance nndcmmnion proconk are paid in connection with damage to, or the taking of, the Property Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse procerelp;' for the reports and restoration in a single payment or in a series of progress paymems as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Purrower is not relieved of Hoirower's obligation for the commerce of such repair or icounation. Lender or its agent niav make reasonable entries upon and inspcotions of doe Property. If it has onshic cause, Leader may inspect the interior of the improvements on the Property. B.rndcr shall give Borrower nonce at the tune of or prior to such an interior inspection specifying such reasonable cause R. Borrower's Loan .Application. Harrower shall be in default if, during the Loan application process, Borrower or any persons or entries acting at the direction of Borrower or with Aorrower's knowledge or consent gave materially false, misleading, o wade information or statements to Lender lot failed to provide Lender with material Information) ci with the Lear. Material representations include, but ar not limited to, representatlonsnconcerning Borrower's occapiny of the Property as Borrower's principal residence iaaa,>�jy� -4)µ 229150 - etnelr10I) vcq.. _ I . Farm aaza not