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201008633 work has been cornpleted to Lendcr's satisfaction, provided that such inspection shall be undertaken promptly. Lender rnay disburse proceeds far the re�pairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing a:r Applicable Law requires interest to be paid on such insurance proce�cL�, Lender sha�l not be arequired tn pay Borrower any interest or earnings on such procee�,s. Fees for public adjusters, or other third parties, retained by Borrawer shall not be paid out of the insuraaxce proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not econoxnically feasible or Lender' s security would be lessened, the insurance praceeds shall be applied to tlae sums secured by this Security Instrument, whether ox not then due, with the excess, if any, paid to Borrower. Such insurance proce�ds shall be applied in the order provided for in Se�tion 2. If Borrower abandons the Property, Leuder rnay �le, negotiate amd settle any available insurance claim and zelated rnatters. If Bonower does not respond within 3Q days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. Tn either event, or i£ Lender acquires the Property under Sectian 22 or otherwise, Borrower hereby assigns to Lender (a) Horrower' s rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Insirurne�'it, and (b) any other of Horrower's rights (other than the right to any refund of unearned premiums paid by Horrower) under all insurance policies covering the Property, insofaz as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair ar restare the Property or to pay amounts unpaid under the Nota or tlus Security Instrument, whether or not then due. 6. Occupancy. Sorrower shall occupy, establish, and use the Property as Sorrower's principal residence within 60 days after the executian of ttus Security Instru�ment and shall continua to accupy the Property as Horrower' s principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreas�nably withheld, or unleas extenuating circurnstances exist which are beyund Borrawer' s control. 7. �resexvation, Maintenance and Frotection of the Praperty; Inspections. Borrower shall not destroy, damage or irnpaix the Properiy, allow the Property to deteriorata or cornrnit waste an the Property. Whether ur not Horrower is residing in the Property, Borrower sha11 maintain the Properiy in order ta prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is detecmined pursuant to Section 5 that repair or restoration is not econamically feasible, Borrower ahall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or candemnation proceeds are paid in connection with damage to, or the taking of, the Froperty, Borrower shall be responsible for repairing or restaring 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. If the insurance or candemnation proce�eds are not sufficient to repair ar restore the Property, Borrower is not relieved of Borrower' s obligation for the completian of such repair or restorarion. Lender or its agent xnay rnalce reasonable enlxies upon and inspections of the Properly. If it has reasonabla cause, Lender rnay inspect the interior of the improvements on the T'roperty. Le�ader shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. S, Borrower's Laan App�icaHon. Horrower shall be in default if, during the I..oan application. process, Bo�rrowea- or any persons or entities acting at the dir�ction of Bonower or with Borrower's knowledge ox consent gave materially false, misleading, or inaccurate information or stateinents to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but ara not limited to, representatians concerning Borrower' s accupancy of th� Properiy as Borrower's principal residence. 2200070924 D V6ANE NE6FtASKA - Singl� Family - Fannle Mae/Freddle Mac UNIFORM INSTRUM�l7 WI7 FRS �-6A(Nq loe�ol Pepe 7 of 75 i,,;a �� orm 3028 7/01 �