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200806925 . . wor~ has been completed to Lender's satisfaction, provided that such inspection shall be undertaken . promptly . Lender may disbll.(se proceeds for the repairs and restorl!tion 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 interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest ot earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shaH not be paid ou.t of the insurance proceeds and shall be the sole obligation of BorrO\ver. [f :the restoration 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 Instmment, whether or not then du.e, with the excess, if any, paid to Borrower. Such insurance proceeds shall beapplied in the order provided for itl Section 2. . .U Borrower abandons the Property. Lender may file.,. negotiate and settle any available insurance claim an.d related matters. If Boirower does not responct within 30 days to a notice from Lender that the :insurancecarrler bas offered to settle a c~ajm,thenLendy,rmay negotiate al1dsettlethe claim. The 30..aay pefiod Will begin when thetioti~is .givel1. In either .evcnt. or if tender acquires the Property under Settidn.22 or6therwise,: Borro\Ver bereoyassignstoLender(a) Borrower's rlghli to any irisurance proceeds in an amount not to exceed the amounts unpaid under the Note or this. SecurHy Instfiuueht, and (b) any other of Borrowcr's. tights (other tban the right to any refund of unearned premiums paid by Borrower) under all insurance pol~cies covering the Property, insofar as such rights a~e applicable to the .Coverage of the Property. tender may use the ins\)rance proceeds either to repair ofrest6re tlie Property or to pay amounts unpaid urider the Note or this . Seclirity Instrument, whether or not then due. 6.0ccullancy. :Borrowet shall occupy, establish. and userhe Property as l3orrower's. principal :residence within 60 days after tMe;iCecution of this SecUrity Instrument and shall continue to oCcupy the Property as BQrrowcr's principal residence for at least one year after the date. of occupancy, unless Lender .otherwise agrees in writip.g, which consent shall not be unreasonably withheld, or unle..<;s extenuating drchmstancesexist which :are beyond BOlTower's controI. . . 7. Preservation, Mainteriance and Protectlc.u). of the Property; Inspections. Borrower shall not destroy, damage or irnpili:r the Property, allow the Property to deteriorate or commit waste oh the Property.. Whether or not Borrower. is residing in the Property, Borrower shall maintain the Property in :order to prevent the Property from deteriorating or decreasing in value due to its condition, Unless it is deterrninedpursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage, If insurance or condemnation proceeds are paid in conneCtion with damage to, or the taking of, the Propeny, Borrower shall be responsible for nipairingor restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds fot the repairs anct restoration in a single payment or in a series of progress paynients as the y,'Ol:k is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation fot the completion of such repair or restoration. . . . Lencter or its agent may make reasonable entries upon and inspections of t.he Property .If it has reasonable cause, I...ender may inspect the interior of the improvement!; on the Property. Lender shall give Borrower notice at the tinre of or prior to such an interior inspection specifying such reasonahle cause. 8. Borr<;wer'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 Borrowei.'s knowledge orCOllsent gav~ materially false, misleading, or inaccurate information or statements to Lender (or failed to: provide. Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning BOlTower's occupancy of the Property as Borrower's principal resictence. PS90 7 of 15 Ir~. ;sFJ 0110283305 0-6(NEI (0407).02 . ill> Form 3028 1/01