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200710149 work has been completed to Lender's satisfaction, provided that sucb. inspection shall be undertaken promptly. Lender may disburse proceeds for the r~airs and restoration in a single payxne.nt or in a series of progress payments as the worl;:: is completed. UDless an agreement js 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 J>;J;oceeds. Pees 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 0, repair is not economically fe.asible or Lender's security would. l;le lessened, the insurance proceeds shall be appHed to me sums secured by this Security IttStnunent, whether or not then due, with me excess, if any, paid to Borrower. Such insurance proceeds $hall be applied in the order p:r:ovided fot in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insu:rance claim and related matters. If :Borrower does Dot respODa wj1:l).j,J;L ~O days to a notice from Lencler that the insurance carrier has off~ed to settle a claim, then Lender may negoriate and seule the claim. The 3D-clay period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherWise, Borrower hereby assigJJ,$ to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) arty other of Borrower'S rights (oTher than the right to any :refund of uneamed premiwns paid by Borrower) under all ins\lr<mc;e policie.t covering the Propeny, insofar as suCh rightS are applicable to the coverage of Ihe Property-Lender m..ay use me :insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security InstIumellt, whether Or not th~ due. 6. OCl;:1,lpancy. Borrower shall occupy, establish, and use the Property as Borrower's p:d~pa1 residence within 60 days after the execution of this Security Instrument and shall condnue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy. unless Lender otherwise a,grees io WJ:iting, which consent shall not be UltteasonabIy withheld, or unless extenuating cirC'l11nstances exisI which are beyond Borrower's comro1. 7. :Preservation~ Maintenance .aJ;td Protection of the Property; InspectioWi. Borrower shall not destroy, damage or impair the Property, allow tlle :Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property froID deteriorating or decreasing in value due to its cOndi[lOt.1. U~less it is d.etermined pursuant to Section 5 that repail: Or restoration is not economically feasible, BOrrower shaH promptly repair the Property if damaged to avoid furtber (letenoration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the tilil)g of, the Property, BOlTower shall be responsible for repairing or resroring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the reptdrs and resroration in a single payment Or in a. series of progress payments as the work is completed. If the insurance or coo.de:o.m.a.tiotJ. proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrowex-'S obligatiOI1 for the compleuoD of such repair or restoration. Lender Or its agent may make reasoo.abl$ e;o.tIies UpD~ llI1d inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on me Property. Lender shall give Borrower notice at the time of or prior to such <m interior inspectioI1 specifying such reasonable cause. 8. Borrower's LoaIl Application. Bon-ower shall be in default if, durirtg the Loan application process, Borrower or any persons Or entities liCtjI1g at the direction of BOllower or with Borrower's knowledge or consent gave materially false, misleading, Or inaccurate infonnarion or statemems to Lender (Ot failed to provide Lender with ~teJ,'ial i1'lfo1'm2.Iion) in connection with the Loan.. Material representations inc:I'Ude, bUt are not limited to, represe;o,tatioI1S COI1ce:ming Borrower's occupancy of the Propeny as Borrower'.$ principal residence. _ .G(NE} loooli) <I' 1~ltj~IS(A/ <-':)~./ ~~g~ , of 1S Fnrm 30213 1/01