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200804681 WQrk has br,en completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment orin a series of progress paymentsilS the worlds completed. Unless an agreeinent is made in writing or Applicable Law . requires interest to be paid on s\,Ich insurance ptoceeds; . Lender shall not be required to pay. Borrower. any interest or eaniings on sucb proceeds.. Fees for Pilblic adjusters; or other third partie!;, retainr.d by Borrower shall not be paid outoC tht,l insurance proceeds and. shall binhe sole obligation of Bprrower.lf the restoration or repair isnoteconomically feasible .or. Leilder'sseclirity would be lessened, the insurancc proceeds shall be applied to. the slims secured by this seCurity Instrumcnt, whether or not then due, with the excess, if any, paid.toBorrower. Such insunmce proceeds snallbe applied in the ordllrprovided 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 toa notice. from Lender thaI the insuiancecarri~r hil.:> offered to settle. a claim;theriLerid.erIilay n~gotia:te and settletheclaim. The 30.,day period. wiUbegilJwhenthenoti(:eisgiven,:meither~'verit,. or if.Lendei' acquires:, Ule. .'Property uilder Section. 22(jr.otherwise,B~rrower. here,bYllssigns to Lehder {araorrower's .t'i~ts'to..any.insurance ... proceeds in an amoont oot.toexCeedtheamOl.inlSlil1paid uhder the Note or this SecuritylnStrllmenr,and (b) any other of Borrower's rights (other than the right to;wyrefund ofupearnedpremiutnspaidby ... Borrower) under. all. insurance ppJicies covering the IJroperty, insofaiM . such rights.. are .applicable . to the coverage of the Property. I..cnder may use the..insurancepro~eedseithertorepair orrestorethe.1>toperty or to pay a.mouilts unpaid ill'1der . the Note or tbis Securitylnstrutllent;whether or!1oithen di.te. .: 6. Oecupancy.Borrower shall occupy, eStablish,anduse the Property as Borrower's principal residence within 60 days after the e:xecutionof this Security Instrument and shall contihueto occupy the. Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lertder otherwise agrees in writing, which consent shall not. be unreasonably withheld, or unless extenuatihg . circumstances exist which are beyond. Borrower's controL.. . . 7. Preserviltion, Maintenance and. Protectioll 01', the Property; Inspections: BOTnlWer shall not destroy, damage or impair thePto~rty; ailowtheProperty 'to deteriora~e or Coni'mit .waste on ihe Property. Wltetheror not Borrower is residing iit thel>roperty ,Bofrower I>hall maintain the 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 restoratiori is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioratipu or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, BOlTow~r shall be responsible for repairing or restoring the Property orily if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs artd resioration in a single payment or in a series of progress paynients as the work is completed. Iftheinsurance or condemnatign proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender oi' its agent may make reasonablc. entries upon and inspections. of the Property. If it has reasonable cause, Lender may inspect the interior of the improveinentsortthe Property, I..ender shall give Borrower notice at the time of or prior to such an interior inspeCtion specifying such reasonable cause. 8. Borrower's I.oan 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 cOhsent gave materially false. misleadh'tg, or inaccurateinfohnation or statements to Lender (or failed to provide Lender with material information) in connection with the Loail. Material representations include, but. arc not limited 10, representations concerning. BorroWer's occupancy of the Property as 130rrower's principal residence. eJa.6INEII04071.02 P.g,;7 ot 16 Initials: .t!1~ 01l028060~ Form 3028 1/01