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<br />200707602
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<br />work is compktec\. Unless an agreement is made iu writiug or Applicable Law reqnires interest to be paid on such insnr>lIlce
<br />proceeds. Lender shall not be required to pay Borrower any interest or earniugs on such proceeds. Fees for public adjusters, or
<br />other third parties, retained hy Borrower shall not be paid out of the insurauce proceeds and shall be the sole oblig,llion of
<br />Borrower. If the restoration or repair is not economically feasible or Lender's secllrity would be lessened, the insllrancc
<br />Jli'Dcecds shall be applied to the Slllns secured by this Security Instnll1lCnt, whether or not then due, with the excess, if ,illY, paid
<br />to Borrower. Such insurallce proceeds shall be applied in the order provided for ill Section 2.
<br />If BorroWl:r abandons the Property, Lender may file, negotiate and settle any availahle insurance claim and n:Llted
<br />matlel'S. If Borrower does not respond within 30 days to a notice fro III Leuder t hat the insurance carrier has offered 10 sell h: a
<br />dainl, then Lender may negotiate and settle the claim. The 30-day period will begiu wheu the notice is given. In cither ev<:nl,
<br />or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights 10
<br />any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Jnstnunent, and
<br />(b) any other of Borrower's rights (other thall the right to any refund of unearned premiums pilid hy Borrower) llllckr all
<br />InSlIl'ance policies covering the Property, insofilr as such rights are applicable to the coverage of the Properly. Lender nlay lISL'
<br />the insurance proceeds either to repair or restore the Property or to pay amounts unpaid undcr the Note or this Secnrity
<br />InSll"lnllent. Wlwlhl:r or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and nse the Property as Borrower's principal residence witllln 60
<br />days after the execulion of this Security Instrumenl and shall continne to occltpy the Property as Borrower's prineipal residellce
<br />for at least one year after the date of occllpaney, unless Lender otherwise agrees ill writing, which consent shall nol he
<br />unreasonably withheld, or unless extenllating circulllstances exist whieh are beyond Borrower's control.
<br />7. Preservation, Maintemll1(,e and Protection of the ProJlerty; Inspections. Borrower shalluot destroy, dalllage or
<br />inlpair lhe ProPl,rty, ,dlow the Property to deteriorate or COllllllit waste on the Property. Whether or nol Borrower is residing ill
<br />the Propeny, Borrower shall maintain the Property in order to prevent the PropellY from deteriorating or decreasinv ill v,dlle
<br />due to ils condition. Unless it is determined pursuant to Section 5 that repair or restoration is not eL'onomically i'casillle,
<br />Borrower shall prulllptly repair the Propelty if damaged to avoid fltrther deterioration or damage. If insurance or condelllnalioll
<br />proceeds are paid in conuection with damage to, or the taking of, the Property, Borrower shall be respousible for repairing or
<br />restoring the Property only if Lender has released proceeds fi)f sitch purposes, Lender may disburse proceeds for the repairs
<br />and restoration in a singk payment or in a series of progress payments as the work is completed. If the insuraltce or
<br />condemnation proceeds ,Ire not sufficient to repair or restore the Property, Borrower is lIot relieved of Borrower's ohligaliolt
<br />,'or Ihe cOlltplclioll of sitch repair or restoration,
<br />Leltder or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable calise, .I.elHler
<br />IlIay inspect the Ililerior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to slIch
<br />all illlerior IIlspeC! Ion specifying sitch reasonable cause.
<br />H. Borrower's Loan Applkatlon. Borrower shall be in default if, during the LOim appli~'atiolt process, Borrower or
<br />any persons or entities acting at the direction of Borrower or with Borrower's knowledge or COltseltt gave materially ralsL~.
<br />misleadini'!, or inaccurate information or statelllents to Lender (or failed to provide Lender with Itlaterial iltformatiou) in
<br />connection with the LOiIll. Maleri:d representations include, but are nol limited to, represelttalloltS concelTIIIIP. Borrower's
<br />uCCllp'lncy 01' th.: Property as Borrower's prilttipal residence.
<br />I). l'rotl.ction of Lender's Interest in the Property and Rights llndcr this Security InstrullIent. If (a) Borrower
<br />Llils 10 Ih,rfonlt ,Ill' L'oveltants and agreelllents contained in this Security Instrument, (b) there is a legal proceeding that might
<br />signifiulIltly ;Iffe,,'t Lender's interest in the Propelty ancl/or rights under this Security Instrlllllent (Sllch ,LS a pnKeL,ding in
<br />bankruptcy, prob,lle, for condemnation or forfeiture, for elttiwcement of a lien which may allain priority over this Secnrity
<br />Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lellder lIlay do ilnd pay for
<br />whatever is reasonable or appropriate to protect Lender's interest in the Property and rights undcr this Security Instnllnent,
<br />including protec1illg and/or assessing the value of the Property, and seeuring and/or repairing the Property. l,ender's acrions
<br />can inclllde, bill ,Ire not linlited to: (a) paying any SIlins secured hy a lien which has priority over this Secllrity IIIStl"lIIIICllt;
<br />(bl appearing ill COIlrt.; and (c) paying reasonable attorneys' fees to protect its interest in the Properly alld/or righls linckI' IllIs
<br />Sl,cul'ity Illstrullll:II\, illclllding its secured position in a bankruptcy proceeding. Securing the Property inclllcks, hili is not
<br />lilllilL'd to, enlering the Property to make repairs, change locks, replace or board up doors and windows, drain walcr from pipes,
<br />climinate building or oIIH:~r code violations or dangerous conditions, and have luilities turned on or off. Allhough Lender IlIilY
<br />take action under this Section 9, Lender does not have to do so and is 1101 nnder any dnty or obligation to do so. It is agreed Ihill
<br />Lender incurs no liability for not taking any or all actions authorized llnder this Section 9.
<br />AllY amounts disbursed by J ,ender under this Section 9 shall become additional debt of Borrower secured by this Security
<br />IllSll"lllllelll. Thesc amouuls sh,dl bear interest at the Note rate from the datc of disbllrSL'lllellt alld shall be payable. with such
<br />1111erest, UpOIl notice from Lender to Borrower requesting payment.
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<br />'iEBR'\~I;A--Sillil,' 1':111111) Funntc Mac/Fn'.ldle Mac UNIFORJVI INSTRUMENT
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<br />FornI J02H t/O I
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<br />GlllcAlI.ANIJ_
<br />TuOruetC,dl: 1.8005309393 LJ r"x:li10791.IIJI
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<br />ITeM 1269816 (0308)'-M~RS (Page (j I!f' / 2 j1l1ge.\)
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