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2oioosi43 work has been campleted to Lender's satisfaction, provided that such inspectian shall be undertalcen promptly. Lender may disburse proceeds for the repairs and restoration in a single payment ar in a serics of progress payments as the wark is completed. Unless an agreement is made in writing or Applicable I,aw requires interest to be paid on such insurance proceeds, Lender shall not be required to pay $orrower any interest or earnings on such proceeds. Fees far public adjusters, ar other third parties, retained by �orrower shall not be paid out of the insurance proceeds and shall be the sole obligation of $orrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied ta the sums secured by this 5ecurity Instrument, whether or not then due, with the excess, if any, paid to Borrc>wer. Such insurance praceeds shall be applied in the order provided for in Section 2. lf $orrower abandons the Property, Lender may file, negatiate and settle any available insurznce claim and related matters. If Bc�rrawer daes nat respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then I,cnd�r may negotiate and settle the claim. The 30-day period will begin when the noticc is given. In either event, or if Lender acquires the Property under 5ection 22 or otherwise, Bc>rrowcn c�:reby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to excecd the amc�unts unpaid under the Nate or this Security instrument, and (b) any other of Borrowcr's ri�hts (qther than the right to any refund of unearned premiums paid by Borrower) under all insurancc: policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid undcr tlie Nate or this Security Instrument, whether or not then due. 6. Occupanry. Borrowcr shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after thc executian c�F this Security Instrument xnd shall continu� to occupy tlie Property zs Borrower's principal residcncc fc�r at least one year after the date af accupancy, unless Lender otherwise agrees in writing, which consent sliall nat be unreasonably withheld, or unless extenuating circumstances exist which are beynnd Barrowcr's contral. 7. Preservation, Maintenance and Protection af the Property; Inspections. Barrawer shall nat destroy, damage or impair the Pro�aerty, allow thc Property to deteriorate or cammit waste on the Froperty. Whether or nc�t Aarrower is residing in the Pxaperty, �arrower shall maintain the Property in order to prevent the Property from dcteriorating or decreasin� in valuc due tp its canditian. Unless it is determined pursuant to Section S that repair or restoratian is nat econamically feasible, $arrawer shall promptly repair the Property if dainaged to avoid furtl�cr dctcrioration or damage. If insuranc:e or candemnation proceeds are paid in connection with damage to, or the taking of, the; Prop�rty, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. lf the insurance or condemnation 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 or its agent may make reasanable entries upon and inspections of the Propc:rty. If it has reasonable cause, Lender may inspect tlie interior af thc impravements on the Property. Lender shall give Borrower notice at the time af or prior to such an interior inspection specifying such reasonable cause. 8. Barrower's Loan Application. Borrower shall be in default if, during the Loan application proccss, Bprrawer or any persons or entities acting at the direction of Borrower or with Barrower's knowledge or conscnt gave materially false, misleading, or inaccurate information or statements to Lender (or failed ta prc�vide Lender with material information) in connection with the Loan. Material represca�tatic�ns include, but are not limited to, representations concerning Borrower's occupancy of the Prc>perty as Sarrawer's principal residence. � �aao��.o2 P�e 7 of 15 �is: � ,� E�.��S��Y��YiII Form 3028 1/01