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200609433 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 Law requires interest 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 tlle sums secured by this Security Instrument, whether or not then due, wiUl Ule excess, if any, paid to Borrower. Such insurance proceeds shall be applied in Ule order provided for in Section 2. If Borrower abandons Ule Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond wiUrin 30 days to a notice from Lender that Ule insurance carrier has offered to settle a claim, Ulen Lender may negotiate and settle Ule claim. The 3D-day period will begin when Ule notice is given. In eiUler event, or if Lender acquires Ule Property under Section 22 or oUlerwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed Ule amounts unpaid under Ule Note or this Security Instrument, and (b) any oUler of Borrower's rights (oUler Ulan Ule right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to Ule coverage of Ule Property. Lender may use Ule insurance proceeds eiUler to repair or restore Ule Property or to pay amounts unpaid under Ule Note or Ulis Security Instrument, wheUler or not Ulen due. 6. Occupancy. Borrower shall OCl.:upy, establish, and use Ule Property as Borrower's principal residence within 60 days after Ule execution of this Security Instrument and shall continue to occupy Ule Property as Borrower's principal residence for at least one year after Ule date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair Ule Property, allow Ule Property to deteriorate or commit waste on Ule Property. WheUler or not Borrower is residing in Ule Property, Borrower shall maintain Ule Property in order to prevent Ule Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 Ulat repair or restoration is not economically feasible, Borrower shall promptly repair Ule Property if damaged to avoid furUler deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or Ule taking of, Ule Property, Borrower shall be responsible for repairing or restoring Ule 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 Ule work is completed. If Ule insurance or condemnation proceeds are not sufficient to repair or restore Ule Property, Borrower is not relieved of Borrower's obligation for Ule completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of Ule Property. If it has reasonable cause, Lender may inspect Ule 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 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 gave materially false, misleading, or inaccurate information or statements 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 Property as Borrower's principal residence. . -6INEJ 10000) @ Pogo 7 of 1 0 Initi.ls: /"\ f\I'- Ae. Form 3028 1/01