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RE- RECORDED 200213110
<br />200214698
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's
<br />option and Borrower's expense. Leader is under no obligation to purchase any particular type or amount of coverage.
<br />Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Properly, or
<br />the contents of We Property, against any risk, hazard or liability and might provide greater or lesser coverage than was
<br />previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed
<br />the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become
<br />additional debt of Borrower secured by this Security Instrument. These, amou a shall bear interest at the Note rate from the
<br />date of disbursement and shall be payable, with such interest, upon notice from Larder to Borrower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove
<br />such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss
<br />payre. Larder shall have the right to hold the politics and renewal certificates. If Lender requires, Borrower shall promptly
<br />give to Lander all receipts of paid premiums and renewal notices. if Borrower obtains any form of insurance coverage, not
<br />otherwise required by Lender, for damage to, or destruction of, the Properly, such policy shall include a standmd mortgage
<br />clause and shall name Lender as mortgagee and/or as an additional loss payce.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of
<br />loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds,
<br />whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Properly, if
<br />the restoration or repair is econontically feasible and Lender's security is not lessened. During such repair and restoration
<br />period, Leader shall have the right to hold such insurance proceeds until Lander has had an oppommity to inspect such
<br />Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lcrnder may disburse proceeds for the repairs and restoration in a single payment or in a %cries of progress
<br />payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on
<br />such insurance proceeds, Leader shall not be required to pay Borrower tiny interest or earnings on such proceeds. Fees for
<br />public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the
<br />sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would he lessened,
<br />the insurance proceeds shall be applied to the sums seemed by this Security instrument, whether or not then due, with the
<br />excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related
<br />matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier bas offered to settle a
<br />claim, then Lender may negotiate and settle the chum. The 30-day period will begin when the notice is given. In either event,
<br />or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby zssigus to Leada (a) Borrower's rights In
<br />any insurance proceeds in an amount not m exceed the amounts unpaid under the Note or this Security Instrument, and
<br />(b) any other of Borrower's rights (other than the right to any refund of uneemed premiums paid by Borrower) under all
<br />insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use
<br />the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security
<br />lnstmmcnt, whether or not then cline.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60
<br />days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal
<br />residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not
<br />be unreasonably withheld, or unless extenuating circumstances exist which arc beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Properly; Inspections. Borrower shall not destroy, damage
<br />or impair the Property, allow the Property to deteriorate or commit waste on the Property. whether or not Borrower is
<br />residing in the Property, Borrower shall maintain the Properly in order to prevent the Property from deteriorating or
<br />decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not
<br />cumomically feasible, Borrower shall promptly repair the Properly if damaged to avoid further deterioration or damage. If
<br />insurance or condemnation proceeds me paid in connection with damage lo, or the taking of, the Property, Borrower shall be
<br />responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may
<br />diahursc proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is
<br />completed. if the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not
<br />relieved of Borrower's obligation for the completion of such repair or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. if it has reasonable cause, Leader
<br />may inspect the interior of the improvemrnts on the Property. Lander shall give Borrower notice at the time of or prior to
<br />such an interior inspection specifying such reasonable cause.
<br />NEURAJKA— Sm,le. Family —Fame Mat TT sIdte Mac UNIFORM INSTRUMENT FmFn 30281/01
<br />xs.AR NO
<br />ITEMIGISL6(Wtt) Wage S of Limlia) To OnMa WIC 1- 806"0589806¢61&7911131
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