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�oioas4cs � � work has been cornpleted to I..ender's satisfaction, provided that such inspection shall be undertaken pramptly. Lender may disburse proceeds for the repairs and restoration in a single paytnent or in a series of progress payrnents as the work is completed. Unless an agreement is made in writing or Applicable L.aw requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or eamings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If 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 Instzlument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance procee�is shall be applied in the order provided for in Section 2. Tf Borrower abandons the Property, Lender znay �le, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice frorn Lender that the insurance carrier has offered to settle a clairn, then J..endez' may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if I.ender acquires the Property under Section 22 or atherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not ta exceed the amounts unpaid under the Note or this Security Instrument, and (b) any othez' of Borrower's rights (other than the right to any refund of wnearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. I.,ender may use the insurance proceeds either ta repair or restore the Property or to pay amounts unpaid under the Nate or this Security Instrument, whether or not then due. 6. Occupancy. Borrovver shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instiwnent and shall continue to occupy the Property as Borrower's principal residence for at least one yeaz after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or ur►less extenuating circurnstances exist whick► are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage ar irnpair the Froperty, allow t1�e Property to deteriorate or commit waste on 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 decz'easing in value due to its condition. Unless it is deternuned pursuant to Section 5 that repair or restoration is not ecox►omically feasible, Borrower sha11 promptly repair the Property if damaged to avoid further deterioration or damage. Tf insurance or condemnation pxoceeds are paid in connection with darnage to, or the taking of, the Property, Borrower shall be respansible for repairing or restoring the Property only if Lender has released prar�eeds for such purposes. Lender may disburse praceeds for the repairs and restoration in a single payrnent or in a series of progress payrnents as the work is completed. If the insurance or condemnation procceds are not sufficient to repair or restare the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may rnake reasonable ent�ies upon and insp�ctions of the Property. If it has reasonable cause, Lender may inspect the interior of the improveznents on the Property. L.ender shall give Bonower notice at the time of or prior to such an interior inspection sp�cifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Laan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's l�owledge or consent gave rnaterially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with nnaterial information) in cannection with the I.oan. Material representations include, but are not limited to, representatians conccrning Barrower's occupancy of the Property as Barrawer's principal residence. � -SG(NE) (00051.01 � Page 7 of 15 Initiais: Fprm 3p28 7/p7 F� 7 �1 R� � .� �J s \ ,