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200600582 work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly, Lender may disburse proceeds for me repairs and restoration in a siogle payment 01," in a series of progre88 payments as the work is completed, Unless an agreement is made in writing or Applicable Law requites interest to be paid on such insurance pr0cee4s, Lender shall not be required to pay Borrow('lr any interest or earnings on su~ proceeds. Pees 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 thlll restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the surns secured by this Security Instru.ment, whether or not then due, with the excess, if any, paid to BoO"ower. Such insurance proceeds shall be applilild in the order provided for in Section 2, If Borrower abandons the Proplilrty, Lender may flle, negotiate and settle any available insurance claim. and related matters. If Bol:':t'ower 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. The 3()'day period will begin when the notice is given, In either event, or if Lender acquires the Property under Section 22 or othel;'wise, Borrower hereby 1Itl5igns 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 Insf.rn:ment, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Bol'tOwer) un4er all in5m-ance policies covering the Property, insofar as such rights are applicablo to the coverage of the PJ:'operty. Lender may use the insurance proceeds either to repair or restore the property or to pay amounts unpaid under the Note OJ:' this Security Instrument, whether or not then due. 6. Occupancy. BorroWCll.' shall occupy, establish, and Use the Property as Borrower's principal residence within 60 days after the Clltecution of this Security Insttument and shall continuc to occupy the Property 8ll Bol:':t'ower's principal residence tor at least one yeat after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unl;'easonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Praerv,-don, Maintenance and Protection of the Property; InspedioDS, Borrower shall not destroy. damage or impair the Property, allow the Property to deteriorate 0;1;' conunit waste on the Property. Whether or not Borrower ill residing in the Property, Borrower shall maintain the Propeny in order to prevent the Property from deteriorating or decreasing in value 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 further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be tl!lsponsible for repairing or restoring the Property 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 progress payments as the work is completed. li the insurance Or condClmnation proceeds are not sufficient to repair or restore the Propeny, 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 arid 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 AppUcatlon. Borrower shall be in default ift during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statemenbJ to Lender (or 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 Propeny as Borrower's principal residence. E990802 _-SA{NE) (04071 Pig! 7 ~ 1 , Inl~'II~ '\ I KJII. I FOrm 3028 1/0' vS 'd OV6v 'ON dJOJ ~OJJS3 ~ ~ll!l paYlJON ~dH:S 900~ 'Ol 'U~r