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200709078 work has been completed to Lender's satisfaction, provided !llBt 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 ]J<1fties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If tlle restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the swns secured by Ulis Security lnstrwnent, wheUler or not then due, with the 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 claim and related matters. If Borrower does not respond WiUlin 30 days to a noticc from Lender Ulat tlle insurance carrier has offered to settle a claim, Ulen Lender may negotiate and settle the claim. The 3D-day period will begin when the notice is given. In eiUler event, or if Lender acquires the Property under Section 22 or oUterwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an am01U1t not to exceed the illnounts wtpaid lUlder Ule Note or this Security Instrwnent, and (b) any oUter of Borrower's rights (oUter Ulan the right to illty reflUtd of llitearned premiwns paid by Borrower) lUlder all lltsurilltCe policies covering Ule Property, insofar as such rights are applicable to the coverage of Ule Property. Lender may use the Utsurilllce proceeds eiUter to repair or restore Ule Property or to pay illnowlts unpaid wtder the Note or this Security Instrument, wheUter or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of Ulis Security Instnunent illtd shall continue to occupy Ule Property as Borrower's principal residence for at least one year after the date of occupancy, lUllcss Lender otherwise agrees in ,witing, which consent shall not be unreasonably withheld, or wlless extenuating circwnstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Prollel1y; Inspections. Borrower shall not destroy, damage or unpair the Property, allow the Property to deteriorate or conunit waste on the Property. Whe!ller or not Borrower is residing in Ule Property, Borrower shall maintain the Property III order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursumtt to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Properly if damaged to avoid further deterioration or damage. If inSUfilllce or condenmation proceeds are paid in cOlmection WiUl damage to, or the taking of, Ule Property, Borrower shall be responsible for repairing or restoring Ute 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. If the insurance or condenmation 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 lIlay make reasonable entries upon mtd inspections of Ule Properly. If it has reasonable cause, Lender may inspect !lte interior of tile improvements on tile Property. Lender shall give Borrower notice at tile tune of or prior to such an interior inspection specifying such reasonable cause. 8. Boollwcr's LoaD Application. Borrower shall be in default if, dw'ing Ute LOillt application process, Borrower or illty persons or entities acting at Ute direction of Borrower or WiUl Borrower's knowledge or consent gave materially false, misleadutg, or inaccmate information or statements to Lender (or failed to provide Lender WiUl material information) in cormection wiUI Ule Loan. Material representations include, but are not limited to, representations concerning Borrower's OCCUPilllCY of the Property as Borrower's principal residence. $.~ 8800278337 l"i\ialS:~ 8800278337 .-SA(NE) (0401).01 @ Page 7 or 15 Form 3028 1/01