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200710091 work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptIy. Lender may disburse proceeds for tile repairs and restoration in a single payment or in a series of progress payments as tIle 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 otIler tIlird parties, retained by Borrower shall not be paid out of tIle insurance proceeds and shall be tIle 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 tlle sums secured by tllis Security Instrument, whetIler or not tIlen due, witIl tIle excess, if any, paid to Borrower. Such insurance proceeds shall be applied in tIle order provided for in Section 2. If Borrower abandons tIle Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond witllin 30 days to a notice from Lender tIlat tIle insurance carrier has offered to settle a claim, tIlen Lender may negotiate and settle the claim. The 30-day period will begin when tlle notice is given. In either event, or if Lender acquires tlle Property under Section 22 or otIlerwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed tile amounts unpaid under tile Note or this Security Instrument, and (b) any otIler of Borrower's rights (otIler tIlan tIle right to any refund of unearned premiums paid by Borrower) under all insurance policies covering tIle Property, in.<;otar as such rights are applicable to the coverage of tIle Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or tllis Security Instrument, whetller 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 this Security Instrument and shall continue to occupy tIle Property as Borrower's principal residence for at least one year after tlle date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably witllheld, 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 the Property, allow the Property to deteriorate or conilint waste on tile Property. Whether or not Borrower is residing in the Property, Borrower shall maintain tlle Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection witll damage to, or tlle taking of, the Property, Borrower shall be responsible for repairing or restoring tile Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for tIle repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sunicient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for tile completion of such repair or restoration. Lender or its agent may make reasonable entries upon and in.<;pections of tIle Property. If it has reasonable cause, Lender may it1<;pect the interior of tile improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior in.<;pection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during tlle Loan application process, Borrower or any person.-; or entities acting at the direction of Borrower or with Borrower's knowledge or con.-;ent 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, representatiol1..., concerning Borrower's occupancy of tIle Property as Borrower's principal residence. _ .6INE) 100051 @ Page 7 of 16 '"~~ Form 3028 1101