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200214022 work has been complete(] In Lender's satisfaction. provided that such inspection shall be andcrtakw 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 agreement is made in writing or Applicable Law requires intc r t tO be paid on such insurance proceeds, Lender shall not be required to pay Borrower 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 Borrower. If 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 any, 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 natters. If Borrower does not respond within 30 (lays to a notice from Lender that the insurance carrier like offered to Bede a claim, then Lender may negotiate and settle the claim. The 30 -day period will begin when the notice is given. In either event, or if Lender acquires thc Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid tinder the Note or this Security Instrument, and Bo any Other of Borrower's rights (other 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 coverage of the Property. Lcndcr may use the insurance proceeds either to repair or restore the Property or to pay anwmnts Unpaid under the Note or this Security Instrument, whether 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 continue to occupy the Property as Borrower's principal residonec for at least one year alter the dare of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or Unless exmnuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or innpair the Property, allow the Property to deteriorate or commit waste on the Property- Whether er not Borrower Is residing in the Property, Borrower shall maintain the Property in order to prevent the Properly from deteriorating ur duemasing in value due to its condition. Unless it is determined pursuant to sr'd...1 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage m, Or tic inking ot, the Property. Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lcndcr, may dishurse proceeds for the repairs and restoration in a sinele payment or in a aeries of progress payments as the work is completed. If the insurance or condmnnatiOn proceeds are not suftierem to repair or restore the Property. Borrower is not relieved of Borrower's obligation for 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 tic improvements on the Property. Lender shall give Borrower notice at the time Of ur prior to such an interior inspection specifying such reasonable cause. R. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gacc n atrually false, misleading, or inaccurate information or statements to Lender on failed to provide lender with material information) in connection with the LOan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal rsidcnec. M;61NEI moos': rt Fepa ]" is Form 3028 1109 E.