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~-RECORDED 200906316 20080139 work has been completed to Lender's satxsfaetian, provided that such iuspeetigm shall be undertaken promptly. Fender may disbtuse praaeeds for the repairs and restora~ian in a single payment or in a series of progress payments as the wgrk fs completed. iTnless an agt~xnaent is made ~ writing yr Applicable Law requires interest tq be paid on sur„)? insurance proceeds, Lender shs11 not he required to pay Borrower any interest yr eatrtings an ouch proceeds. Ferg for public adjusters, or prier third paroles, retained by Borrower shall nut be paid ql~t of c1~;C insurance proceeds and shall be uxe sole obligation of Harrower. If the restaratiazt or repair is ztot eegmottrically feasible or I„~aadex's sectuiry would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether pr not tlxeu due, with the excess, if any, paid to Bornpwer. Such insurance proceeds shall be applied in the order provided far in Section 2, If Borrower abandons the l~rvperry, bender may rile, negotiate and Settle any available insurance claim aztd related matters. lf' Borrower does not respond within 3~ days to a notice frarn X.ender that the insurance ca~iex has offered to Settle a. claim, than Lender may aegodate and settle the claim. "lxie 3A'daY ,~ period will begin when the notice is given. In either event, or if X.ender acquires the Property under ~C~~~ Section 2~ yr otherwise, Harrower hereby assigns to Lender (a) Borrower's rights to any insurance 'a~.l-~~i °~^~ roceeds in aq amount not to exceed the atrcounts unpaid under the Note ar this Security Yttstnirrieoit, and 3 : '~v any other of Borrower's rights (other thaw the right to any refund of uaeamed prevnitttns paid by ~~~~;~~ ~ `"~ ower) tender alI insurance policies covering the Property, insofar as such rights are applicable to the ~ . -. ~~ ~ erage of the 1'roperry. Lender may use rite itisturutce proceeds either ro repair ar restore the Property ax .n-~,.`;;~ ~ ~7~-ay amiouuts tutpaid under ttae Note ar this Security ~usttutneat, whetlxer ar not then duC. ~~~;' , %~ tir 6. Occupancy. Borrower shall occupy, establish, and use floc P P ~i~'. ~? sidence within 64 days after the executign of this Security Instrument and ~ continue w'vcoiipyzthe ~s~~ ~ ion property as Boz~rawer's principal residerAGe far at feast one year after the date of accnpartcy, unless LendeC Qthetwise agteea is writing, which coYisent shall not be unreasonably withheld, or trxiless ~ctenuatitig ~*~~rnWtances exist which are beyond Borrower's cozrtxol. 7. R'escrvation, IV~trnance and Proteetfi,mu oP the Frapex~ty; vaspections. Borrower shall riot destroy, damage or impair the Pmpexty, allow the Property to daieriarate or commit waste on the rPropeay. Whether or mot Borrower is residing ixt the Property, Borrower shall msi~ptaitl, tike Property in order to preve>at the Property from deterloraldasg ar decreasing in value dtie to its. condition. Unless it is determined pursuant to Section 5 that repair yr restoration is not ~oriomically feasible, Borrower shall promptly repair the Property i# damagod to avoid further deterioration ar damage. If insurance or condemnation proceeds are paid izt connection with damage tv, or the taking vf, the Property, Borrower shall be responsible for repairing or restoring the Pmpezty only if Lender has released pra~~ far such purposes. )render rnxy disbtu~se ptnceeds for the repaid and restoration in a single payment or is a series of progress payments as the work is completed. If the insurance or eoridemnatioti proceeds are mot suf~ieient to repair or restore the Fropeity, Borrower is not relieved of Borrower's obligation far the completion of sucks repair ar restoration. Lender or its agent ttiay madde t+rasoraable entries upon and inspections of the l?Yaperty. If it has reasonable cause, Lender may inspect the interior o£ the improvements on the Property. Lender shall give Borm~ver notice at the time of or prior to such as interior inspectipit specifyiuig such reasonable cause. 8. Horrower°g Laa» Applicakion. narrower shall be in default if, during the Loan application process, Borrower or any persons or Qatities acting az the dircctiom of Barrowet or with l3ornawgr's knowledge ar consent gave materially false, misleadi~, or ixsaccurate infarmatiq>~ or statements to Lender (ar failed to provide Lender with material information) in connectiar~ with the Loan. Material representations include, but axe not limited to, representations concerning Hvmvwer's accttpaucy q1' the Property 8s Borrower's principal residence. j'~sfNE) inWS~ ~ /~ntvrs'•~~'Z Page 7 a~ 15 ~qrm 3028 ~/p7