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200210144
<br />work has been completed ea 1_cndn's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Leader mac dlshurse proceeds for the repairs nul restoration in a single payment or in a series
<br />of progress puymenl> as the I'll, Is mmpic cd. Unless an agreement is made in writing or Applicable Law
<br />requires interest m he paid u11 sm11 lusuruuce proceeds, Londar shall not be required to pay Borrower any
<br />interest or earnings on such proceeds tees for public udjusiers, or other third parties, retained by
<br />Bormwer shall not be paid ow of the insurance proceeds and shall he the sole obligation of Borrower. If
<br />the restoration or Icp:ur is 1101 euuaOIIicalIy feasible or Lcoder's security would be lessened, the insurance
<br />proceeds shall be applied to the kilns Rruired by this Security Instrument, whether or not then due, with
<br />the uses,, if any. paid is Borrow -er. Such insurance proceeds shall be applied in the order provided for in
<br />Section 2,
<br />If Borrower ahandnns the I'nrpcm, Lender may file, negotiate and settle any available insurance
<br />claim and related vu crs_ II Bo1'rower fors not respond within 30 days to a notice from Lender that the
<br />insu...I. carrier has of lercd to rule it claim, then Lender may negotiate and settle the claim. The 30-day
<br />penod will begin w1,cu the notice is kvnca. In either event, or if Lender acquires the Property under
<br />Section 22 or oilh,misc, Burrower le,id, assigns to Lender (a) Borrower's rights to any insurance
<br />proceeds in air amount not ur 1 X(etxl the umoums unpaid under the Vote or this Security Instrument, and
<br />(b) any other of Borrower's I'ieh6 fother than the right to any refund of unearned premiums paid by
<br />Borrower) under All HourtmrC policies covering the Property, insofar as such rights are applicable to the
<br />coverage of the Property. Lender may use the insurance proweds either to repair or restore the Property or
<br />to pay amounts unpaid uncle, the Vote or this Security Invmlmcal whedrer or not then due.
<br />6. Occupancy, Bunolcer shall occupy, establish, and use the Property as Borrower's principal
<br />residence within 611 I.nos ufmr 1111 exccuGon of this Sccu rip Instrument and shall continue to occupy the
<br />Property as Borrower . prmclpal «sidcncr fur at Icast ouc year alter the date of occupancy, unless Lender
<br />otherwise agrees in 1111111,', which consent shall not be unreasonably withheld, or unless extenuating
<br />circumstances exisi whidt am bcsond Borrower's control.
<br />7. Preservutinn, Nlaintrnaner and Protection of the Property; Inspections. Borrower shall not
<br />destroy, damage or '.inpait 1ih[ Property, allow the Properly 10 deteriorate or commit waste on the
<br />Property. WhcILc1 ur 1101 Borroocr , residing in the Propery, Borrower shall maintain the Property in
<br />order to prevem ihr I'ruperly Gum deteriorating or decreasing in value due to its condition. Unless it is
<br />determined purmam m Salon 5 Iha1 repair or restorullon is not economically feasible, Borrower shall
<br />prongrtly repair the Property it dcmaecd to avoid further dmcrionnion or damnge. If insurance or
<br />condemnation proceedk arc paid in connection with damage to, or the taking of, the Property, Borrower
<br />shall be responsible It); rs puiritm. of reslorin, the Property only if Lender has released proceeds for such
<br />purposes. Lender mac disburse proceeds for the repairs and resmrariun in a single payment or in a series of
<br />progress paynmot. ea the work Is rnmplced. It the insurance or condemnation proceeds are not sufficient
<br />to repair or redo,, Ilia Proper1, Bonowch is not relieved of Borrower's obligation for the completion of
<br />such repair or reslorauun_
<br />Lender or II, em 'm make reasonable entries upon and inspetim s of the Property. If it has
<br />reasonable uaux_ Luuom nr..0 inLpcat the interior of the improvements on the Property- Lender shall give
<br />Borrower node, all the limy ul or poor to such an interior inspection specifying such reasonable cause.
<br />S. Borrower? Lnau %ppliration. Bomuwer shall he In default if, during the Loan application
<br />process, Borromcr ,, alas 1)1,,011, or entries acting a1 the diantion of Borrower or with Borrower's
<br />knowledge or cmuem sto a 1nkm e,lly false, misleading. or Inaccurate information or statements to Imlay
<br />(or failed m pmcidr I,Ind" .11th lualcrlal informallonl in connection with the Loan. Material
<br />representations include. hat 11: not limited to, represculutinns concerning Borrower's occupancy of the
<br />Property as Buno,v, I , principal re, -leace
<br />y�
<br />-6(NE) r > ns Form 3028 1101
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