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2010U8258 work has been comPletcd tp Lender's satisfaction, provided that such inspcctian shall be undertaken promptly. Lender may disburse praceeds far the repairs and restoration in a single payment ar in a series of progress payments as the wark is campleted. Unless an agreement is madc in vvriting or Applicable Law requires interest to be paid on sucli insurance proceeds, Lender shall not be rcquirc:d ta pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be pxid out of the insurance proceeds and shall be the sc�lc obligation af Borrower. If the restoration or repair is nat ecanomically feasible or Lender's security would be: lessened, the insurance proceeds shall be applicd to the su�r�s secured by this Security Tnstrument, whether or nat then due, with the excess, if any, paid to Borrow�:r. Such insurance proceeds shall be applied in the order pravided for in 5ection 2. If Barrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrawer does not respond within 30 days to a notice from Lender that the insurance carrier has affered to settle a claim, then Lender may negotiate and scttle the claim, The 30-day period will begin when the noCice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) $orrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance pc�licies covering the Property, insofar as such rights are applicable tc� the caverage of the Property. Lender may use the insurance proceeds either to repair or restorc thc Propt;rty or to pay amounts unpaid under the Note c�r tliis Security Instrument, whether or not then due. 6. Uccupancy. $orrower shall occupy, estabHsh, and use the Property as $orrower's principal residence within 60 days after the execution of this Security Ii�strument and shall continue to occupy the Praperty as Borrower's principal residence far at least one yeax after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. '�. Preservation, Maintenance and Protection of the Property; Inspections. i3arrower shall not destroy, damage or impair thc Praperty, allow the Property to deteriorate or commit waste on thc Property. Whether or not Borrower is residing in the Praperty, Barrower shall maintain the Property in arder to prevent the Property from deterioratin�; ar d�:creasing in value due to its condition. Unless it is detcrmined pursuant to Section 5 that repair or restoration is not econamically feasible, Borrower shall promptly repair the Property if damaged to avoid further detc:rioration or damage. If insurance or c<�ndemnation proceeds are paid in connection with dama�;e to, ar the taking af, the Property, Borrower shall be responsible for repairing or restc�rin� the Property anly if Lender has released proceeds for such purposes. Lender may disburse proc�eds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds arc: not sufficient to repair or restore the Property, Borrower is not relieved of Barrower's obligation for thc comPletion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lendc:r may inspect the interior of the improvements on the Froperty. Lender shall give Borrower notice at the time of ar priar ta such an interior inspection specifying such reasonable cause. S. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrowcr or any persons or entities acting at the direction of F3orrc�wcr c>r with I3c>rrower's knc�wledge or consent gave materially false, misleading, or inaccurate informatic>n c�r statemcnts tc� Lend�r (c>r failed to provide Lender with inaterial infonnaticm) in conncction with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. �-B�NE) �oao��.oz � P�e 7 of 15 Initlals: 1111p56p73 Form 3028 1/01