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200801439 .- work has been completed to Lende;r;'s satisfaction, provided that $\lch iD.$peCtiO;l;\ shall be undertaken promptly. Lender mAY disburse proceeds tor The repairs and restoration in a single payment or ill a series of progress payments as the work is completed. Unless an agreement is made iJ). writing or Applicable Law requires interest to be paid on such insurance pmceeds, Lender shall not be required to pay Borrower any interest 0. earnings On such proceeds. Fees for public 8(ljusters, or other tbird panies, retained by :Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of llorrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proc~ds shall be applied to the sums secured by this Security Instru:IX1ent, whether Or not then due, with the excess, if any. paid to Borrower. Such insurance p:foceed$ shall be applied in the order provided for in Section 2. Xi BOf{ower abandoU$ the Property, Lender may me, negotiate aDd settle any available insurance claim and related matters. If Sorrower does not respond within 30 days to a notice from. Lender that the insur1\1Jce carrier has offered to scmle a claim, then Lender may negotiate and settle the claim. The 3D-day =-" period will begin when the notice is given. rn either event, or if Lemler acquires the Property under :". L...E. >...."....;..,~'ij;Seet. ion 22 or otherwise, Borrower hereby Q5igns to Lender (a) Borrower's rights to any insurance \.n:<l'tt:v~~~;:.. roceeds in llU amoUt.lt not to exceed the amounts unpaid \lXl.der the Note Or this Security l11strum.e.ut, and :f~~~\:{!b (~g \) any other of Borrower's rightS (other than the right to any refund of uneamed premiums paid by {if;~'~:.\ ::i' ~fJ'W'ower) under all insurance pOliCies CQvering the Propeny, insofar as such tights are a.pplicable to the .~~:t:;~l\') ~ ?era,ge of the ProP.erty. Lender may u.re ~e ~ce proceeds either ro repair or restore the Property or Jt.~" ~.. ,'1J .to pay mnoums unpald under the Note Or this Secunty Instruml!:;O.t. whether or not then due. \V\;;':~1I ~> / 6. Occupancy. Borrower shall occupy, establish, and use tbe Property as Borrower's principal ~iS/'6 esidence within 60 days after the execution of this Security Instnunent and. shall continue to oCC\l~y the ~p.?-~ Propeny as Borrower's J;lrincipal residence for at least oue year after the date of OCCUpll1wy, unless Lcnd~ ~ othet'\Vise agrees in writing, which eonsent shall not be unreasonably withheld, 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 deierlo:nuc or commit waste on the Property. Whether or not Bom)wcr is residing in the Propeny, Borrower shall maintain the Propeny in order to prevent the Propeny from deterloraIing or decreasing in value due to its condition. Unless it is detemtined pursuant to Sectjon 5 that repait or restoration is not ecQnoxmca1ly feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If htSUrance or condemnation p.oceeds are paid in connection with damage to, or the taking of, the Propeny, Borrower shall be responsible for repairing or :restoring the Property only if Lender bas rtleased proceeds for such pUrposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress paymerJ,ts as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore me Property, Borrower is nOt relieVed of Borrower's obligation for the completion of such repair or resloxation. Lender or itS agent znay make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inSpect the interior of the improvement$ on the Propeny. Lender shOll I give Borrower notice at the time of Or prior to such au 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 actiDi: at the direction of BorroweJ: or with Borrower's knowledge 0. consent gave materially false, misleadi.ug, or inaccuraJ:e infonnation or statements to Lender (or failed to provide Lender with material information) in connection with tbe Loan. Material representations include, but ne not limited to, reprcse;w;ations concerning Borrower's occupancy of the Propeny as Borrower's principal residence. _.6INE1IDOQ$) 31 ^niti.J~: /tIL ~ "age' 0/15 l' FQrm 3028 1/01