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200205474 Property to ensue the work has been completed to Leader's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disbuse proceeds for the repairs and restoration in a single payment of in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such nsmarcc proceeds, Lender shall not be required to Pay Bouuwer any interest or earnings on such proceeds_ Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Burrower_ Lf the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if airy, paid to Borrower_ Such issuance proceeds shall be applied in the order provided for in Section 2. If Bmnlwer abandons the Property, Lender may file, negotiate and settle any available insmance claim and related matters. If Burrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a clans, then Lender may negotiate and settle the claim The 30-day period will begin when the nulice is given. In either event, or if Lender acquires the Property trader Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to nay insurance proceeds in an amount not to exceed the amounts unpaid under the Note of this Security Instrument, and (b) may other of Borrower's rights (other than the light to any refimd of unearned prennris paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to Pay amormts unpaid under the Note or this Security Instrument, whether at not then (Inc. 6. Occupancy. Bmruwer shall occalpy, establish, and use the Property as Borrower's principal residence within 50 days after the execution of this Security instrument and shall continue to occupy the 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 lie unreasonably withheld, or unless exte to ding circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Properly; Inspections. Borrower shall not desury, damage or impur the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borower is residing in the Property, Borrower shall mountain the Properly in order to prevent the Property from deteriorating or decreasing to value due to its condition Unless it is determined p insuars to Section 5 that repair or restoration is rut economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds we paid in connection with damage to, or the taking of, [lie Property, Borrower shall be responsible for reporting or restoring the Properly only if Lender has released proceeds for such purposes_ Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of pmgtras payments as the work is completed- If the insurance or condemnation Proceeds arc not sufficient to repair or restore the Properly, Borrower is not relieved of Borrower's obligation for the completion of such repah ur restoration Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender nay 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 reasoable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the loan application process, Burrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave n thaially false, misleading ur inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but arc not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence_ 9. Protection of Lender's Interest in the Properly and Rights Under this Security Instrument. if (a) Borrower fails to perform 0e covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate In protect Lender's interest in the Properly and rights under this Security Instrumnent, including protecting and/t, assessing the value of the Property, and securing uW/nr repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in cowl; and (c) paying reasonable attorneys' lees to protect its interest in the Property and /or rights under this Security nsnwneat, including its secured position in a bankruptcy proceeding. Securing the Properly includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water bear pipes, eliminate building or other code violations or dangerous conditions, and have utilities tuned on ur off Although Lender may take action under this Section 9, Lender does net have to do so and is not under any Lnatt No: 1735163 No,b— Ia Mod o J Iousl- Sicgic Family-Fannie Mar/Freddie Mac UNIFORM INSTRUMENT Form 802801/01 —THE COMPLIANCrSOnPCc, ING - P.,6on12 oomatoGNA0 wow wmpluoano¢cmm IIIYrllai11111111AYI1M1Ir IIlIn1 sin Oxo% T. COmplen¢SV¢t lea.