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200805531 work ha<; been completed to Lender's sati.<ifaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceed\ for the repairs and restoration in a single payment or in II series of progress payments arequires interest to be paid on such insuraoce proceeds, Lender shall not be required to pay BolTOwer any interest or earnings on such proceeds. Fees for public adjuster.;;, or other third parties, retained by Bormwer shall not be paid out of the insurance proceeds and shall be the sole obligation of BolTOwer. If the restorntion or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security IrtiCnunent, whether or not then due, with the excess, if any, paid to Bormwer. Such insurance proceeds shall be applied in the order provided for in Section 2. If Bormwer abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Bormwer does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim The 3O-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Bormwer hereby assigns to Lender (a) Bormwer's rights to any insuraoce proceed.. in an amount not to exceed the amounts unpaid under the Note or this Security InsCnunent, and (b) IDlY other of Bormwer's right.. (other than the right to IDlY refund of unearned premiums paid by Bonuwer) under all insunmce policies covering the Property, insofar acoverage of thc Property. Lender may use the insurance proceed" either to repair or restore the Property or to pay amounts lUlpaid under the Note or this Security Irtitnnncnt, whether or not then due. 6. Occupancy. Bormwer shall occupy, establish, and use the Property as BolTOwer's principal residence within 60 days after the execution of this Security Irtitrument and shall continue to occupy the Property as Bonuwer's principal residence for at least one year after the date of occupancy, unless Lender otherwise ~rees in writing, which consent shall not be unreasonably withheld, or unless extenuating circlUllStances exist which are beyond Bormwer's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Bormwer shall not destroy, danlllge or impair the Property, allow the Property to deteriorate or commit Wa<ite on the Property. Whether or not Bormwer is residing in the Property, Bormwer shall maintain the Property in order to prevent the Property from deteriorating or decrea..ing in value due to its condition. Unless it is detemtined pursuant to Section 5 that repair or restoration is not economically feasible, Bonuwer shall promptly repair the Property if danmged to avoid further deterioration or damage. If insurance or condenmation proceeds arc paid in connection with danlllge to, or the laking of, the Property, Bonuwer shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may di..burse proceeds for the repairs and restoration in a single payment or in a series of progress payments ato repair or restore the Property, BolTOwer is not relieved of Bonuwer's obligation for the completion of Such repair or rnstorntion. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the i..provements on the Property. Lender shall give Bonuwer notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. BolTOwer shall be in default if, during the Loan application process, Bonuwer or any pen;ons or entities acting at the direction of Bonuwer or with Bonuwer's koowledge or consent gave materially raise, ntisleading, or inaccurate infonnation or statements to Lender (or railed to provide Lender with material infonnation) in connection with the Loan. Material representations include, but lll'e not limited to, representations concerning Bonuwer's occllplll1Cy of the Property as Bonuwer's principal residence. 002005398805 .'6A(NE) (0407).01 @ Page 7 0115 -ffL CiliMortgage 3.2.15.16 V3 Form 3028 1101