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200800270 work has been completed to Lender's satisfaction, provid.ed. that $uch iIupection shall be Wldertaken p.oomptly. Lender may disburse proceeds for me 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 inw.rest to be p~d. on such insurance proceeds, Lender shall not be required. to pay Bon-ower arty interest Or eamjngs on such proceeds. Fees for public adjusten, or other thitd parties, retained by Borrower shall not be paid. Out of the insurance proceeds ~d. shall be the sole obligation of Borrower. If the restoration or repair is not econolW(:<l!ly feasible or Lender's security would be lessened, the insurance proceeds shall be applied to me sums secured by tbis Security InsU1lIlleIlt, whether or not then due, with .me 'excess, if any, paid to 13orrower. Such insurance proceeds shall be applied in the order provjded for in Section 2. If Borrower aband.ons the Property, Lender may file, negotiate and settle any available i.I:tsUnnce claim and related matters. If Borrower does not respond within 30 days to a notice fram Lender that the insurance cmier has offered to settle a claim, then Lender rn:ay negotiare and settle the claim. The 3Q-day period will begin when the notice is given. In either c:Yent. or if Lender acquires the Property under Section :n Or otberwise, Borrower hereby asSigns to lei1der (a) BolTower7s rights to any insurance proceeds in an amo1.lllt nOt [0 EXCeed the amounts Wlpaid under the Note or this Security Instrument, snd (b) any other of Borrower's ligbtS (other than me right to any refund of uneamed premiums paid. by lknrower) under all insurance policies coverirtg the Property, insofar as sueh rightS are applicable to the coverage of the :Property. Lender may use the ins\l.rance proceeds either to repair Or restore me rTopeny or to pay amounts unpaid under the Note or this Security InStr'Ulnf:t1[, whether 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 ID.$tI'UI)1M.t and shall continue to OCCUPy the Propeny as Borrower's principal tesidence for at least one year after the date of occupancy. unless Lender otherwise agrees in writing, which ConSent sball not be unreasonably witbheld~ or unless extenuating circumstances exiSt which are beyond Borrower's control. ." 7. Preservation, Matote.nance and Protection of the rro~y; hwpections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or com:o.i.r- Wagt~ ,on the Property. Whether or not Borrower is residin; in the Property, Borrower shall maimain-the Property in order to prevent the PropetIy from deteriorating or decreasing in value due: [0 its condition; Unless it is determined pUIWant to Section 5 that repair or restoration is not economically fusible, Bon-ower shall promptly repair the P1;ope::n:y if damaged to avoid funher deterioration or damage. ,If insurance or condemnadon proceeds are paid )n connection wim damage to, or the taking of. the Property, Borrower shall be respoIlSible for repairing or restoring the :Property only if Lender has released proceeds for such p1.!IpOses. Lender may disburse proceeds for the repairs and restotation in a single payment or in a series of progress payment:; as the wO;J;"~ is cQmpleted. If the insurance or condemnatiOn proceeds are no~ sufficient to repair or r.estore the Property, BOrrower is not relieved of Borrower's obligation fOr the completion of such repair ot restoration. Lenl;ler Or ju ligent may make reasonable entries upon and io.spections of the Propeny. If it has reasonable cause, Lender may inspect the interior of the improvements on the Properry. Lender shall give ,Borrower notice at tl)e time of or prior to such an interior inspectiOll s1)eCifying 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 Borrower or with Borrower's knowledge or consent gave materially false. misleadU\,& or illilocurate information or statements to tender (or failed to provide Lender with material information) in cOlU1ection with the Loan. Material representations include. but are DOt limited to, representations concerning Borrower's ocoupancy of the Propeny as Borrower's principal residence. Ir"'l~tjal!l: fl~ G-6(NE)IOOO6l <iI P8ll8 7 Df 15 Form 3028 1,01