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200709477 work has been completed to Lender's satisfaction, provided that such inspection shall be \U1(lertalren promptly. Lender may disburse proceeds for the repairs and restoradon 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 restoracion or repair is not economically feasible or Lender's security would be lC$sened, the insurance proceeds shall be applied to the sums secured by this Security Insl:rwm:nt, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offeX'ed to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, oX' if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (8) Borrower's tights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instnlment, and (b) any other of Borrower's rigbt$ (other than the right to any refund of Qnearned premiums paid by Borrower) under all insurance policies covering the Property, insofar iUl lIuch rights arc applicable to the coverage of the Property. Lender may use the insut'Mce proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. (kcupancy. Borrower shall occupy, establish, and u.se the Property as Borrower's principal residence within 60 days after the execution of this Security InstnlIDe.Ot and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably witht1el4, or unle!ls extenuatlni circWl'l8tances exist which are beyond l3o.rrower's control. 7. Preservation, Maintenance and Protection ot the Property; Inspec:tiollS. Borrower shall not destroy, damage Ql," impair the Property, allow the Property to deteriorate or commit waste on the Propelty. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property frOIIl dtterlorating or decreuing in value due to its condition. Unless it is determitred purSUan1 to Section 5 that repair or restoration is not ecOtlomically feasible, Borrower shall promptly repair the Property if damaged to avoid further deter1oJ'~tion or damage. If insurance or condemnation procMds are paid in connection with 4ama.ie to, or the taking of, the Property, Borrower shall be rCllponsible tOf repairing or restoring the Property only if Lender has released proceeds for !luch purposes. Lender may disburse proceeds for the repairs and restoration in a &inJle paymeut or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved Qf Borrower's obligation for the completion of such repajr or restoration. Lender or Its agem may make reasonable entries upon and 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 lIIl 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 Bon:ower or with Borrower's knowledge or consent gave materially false, misleadins, or inaccurate infunnation or swements to Lender (or failed to provide Lender with material Information) in connection with the Loan. Material representations include, but ate not limited to, representations concerning Borrower's occupancy of the Propenyas Borrower's principal residence. _-6INEIIOOO~1 F'ogA 7 cf 16 Iml~9A e Form 3028 1/01