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200604200 work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken 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 oer an requires interest to be paid on such insurance proceeds, Lender shall not be required to pay y interest or earnings oil such proceeds. Fees proceeds for and shall be the sole obligation of Borrows by If Borrower shall not be paid out of the insurance the restoration or repair is not economically feasible or Lender' Is security whether or lessened, the insurance proceeds shall be applied to the sums secured by this Security nstrument, with die 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 from claim and related matters. If Borrower a does inn then Lender may negotiate to hd settle notice the claim. 1The 30 -day insurance carrier has offered to settle period will begin whey the notice is given. In either event, or if Lender cqu res the pro e ty under ( Section 22 or otherwise, Borrower hereby assigns to Lender a) Borrower's proceeds in an amount not to exceed the amounts unpaid under the Note or this Security stru n ,dand (b) any other of Borrower's rights (other than the right to any refund of unearned premiums 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 amounts unpaid under the Note or this Security Instrument, whether or not dnen due. 6. Occupancy. Borrower shall occupy, establish, and use tie Property as Borrower's principal residence within 60 days after the e ofor athis east onelyeaxlaf erhthe date ofdoecupancy, unless Lender Property as .Borrower's principal residence otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless ex tenuatrng circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair tlhe Property, allow the Propy $ord deteriorate shall maintain the waste on Property e Property. Whether or not Borrower is residing in the Property, order to prevent be Property from deteriorating es oration is in ot econonhically feasible, ble, Borrower shall determined pursuant to Section S that repair promptly repair the Property aha ihe damaged to with damage to, orntledt king o damage. the Property, Borrower condemnation proceeds are p r eeds for such shall be responsible for repairing or restoring the Property only if Lender has relea e eut or in a series of may purposes. Lender may disburse proceeds for the repairs and restoration in a single pay progress payments as the work is completed. l� � relieved of Borrower's obligation for the completion of to repair or restore the Property, Borrower such repair or restoration. has Lender or its agent may make real, °i'abinxeofrthe improvement son the sPrope Property. Lender shall tgive reasonable cause, Lender may nnspec.t t Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrow the Loan application Borrower shall be in. default if, during process, Borrower or any persons or entities misleading, information. or statements tor Le der knowledge or consent gave materially false, m 5 b in connection wits the Loan. Material (or failed to provide Lender with material information) representations include, but are not limited to, representations concerning Borrower's occupancy of die Property as Borrower's principal residence. Initial . Form 3028 1101 Page 7 of 16 -6(NE) 100051 0