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200207441 work has been completed M Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agfeenrcat is made in writing or Applicable law requires interest to be paid on such insurance procreds, Lender shall not be required! to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parries, retained by Booruwcr shall not be paid out of the insurance proceeds and shall be the sole ahligution of Borrower. If the restoration of repair is not economically feasible or Lemdcr's security would be lessened, die insurance proceeds shall bo applied to the sums secured by this Sentrdy Instrument, whether or not Then due, with the oxeess, if arty. paid to Borru vcr. Such insurance proca`ds shall be appliM In the order provided for In Section 2 If Borrower abandons the Property, Lender may file, negotiate :rod seine any available insurance claim 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 claim 'Ile 30-day period will begin when the notice is given. In either Event, or if Lender acquires Tire Property under Section 22 or otherwise, Borrower herchy assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instalment, and (b) any other of Borrower's rights (other than the ngh( to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable in the coverage of the Property. Icnder may use the insurance proceeds either to rcpair or reslnre the Property, or to pay amounts unpaid under the Nate or this Security Instrument, whether or not then due. fi. (hCUPaney, Borrower shall occupy, establish, and use the Properly as Borrower's principal residenec within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at leas[ one year after the date of oceup+mcy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unlc a exlenuainig circumstances exist which are beyond Borrower's control. 2 Preservation, Maintenance and Protection of the Properly; Inspections. Borrower shall nor destroy, damage or impair the Property, allow the Property to deterioinm or commit waste on [he Property. Whether or not Borrower is residing in the Property, Bei o ver shall nmlnttdn [tic Property In order to prevent the Properly from deteriorating or caressing in calla, due to its condition, Unless it Is determined pursuant to Section 5 that repair or restoration is not economically Feasible, Borrower shall promptly repair the Property If damaged to avoid ftiaher deterioration or damage. If insurance or condemnation proceeds are paid to connection with damage m, or the taking tit, the Property. Borrower shall be responsible for repairing or restoring the Property only if leader 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 as the work is completed. if the insurancr or c rdrumadon proceeds arc not suflicienl to repair or restore the Property, Borrmver is not relieved of Borrower's obligation tar the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and Inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender Shall give Borrower notice at the Time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default it', during the Lean application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or Valeal gave materially false, misleading, or maccuialc information or alatcri to Lender (or failed to provide Lender with material admanutimo in connection with the I..oan. Material representations include, but are not limited to, representations conceiving Borrower's occupancy tat the Property as Borrower's principal residence. n "1 ��61NE110015, re,sv m 11 �, , ,� u Farm3n2a 1101 11 'd KC HS Z06 'ON Rdd DIP RON OOB.d S"IINM Wd 6121 1H ZOOZ— Z[ —]Hr