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201D0�794 work has bcen completed to Lender's satisfaction, provided that such inspectian shall be undertaken promptly. 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. Unless an agreement is made in writing or Applicable Law requires intc:rest tc> be paid on such insurance proceeds, �ender sliall not be required ta pay Borrawer any interest or earnings on such proceeds. Pees for public adjusters, or other third parties, r�tained }�y Barrawer shall not be paid out of the insurance procecds and shall b� the sole obligation of Borrawer. If the restoration or repair is not economically feasibl� or I.,ender's security would }ae lessened, the insurance proceeds shall be applied to the sums secured by this 5ecurity Instrument, whether or not then due, with the excess, if any, paid to Borrawer. Such insurance praceeds sliall be applied in the order provided for in Section 2, If Borrower abandons the Property, Lea�dcr may �le, ne�otiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice frorn I,cnder that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 3Q-day period will begin when the notice is given. In either event, or if Lender acquires thc Praperty under Section 22 or otherwise, $orrower hereby assi�;ns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to cxcecd tlic ainounts unpaid und�r the Note or this Sec:urity It75trument, and (b) any ofher of $orrower's rights (other than thc ri�ht tc� any rcfund of un�:�u'n�d preirtiums paid by Aorrower) u�ider all insurance palicies eovering the Property, insofar as such rights are applicable to the coverage of the Property. I,ender may use: thr insurance prac�eds either to repair or restore the Praperty pr to pay amounts unpaid under the Note ar this Security Instrument, whether or not then due. 6. Occupancy. I3orrowcr shall occupy, establish, and usc thc Property as Bqrraw�r's principal residence within 60 days after the exccution of this Security Instrument and shall continue to occupy thc Property as Barrower's principal residence fc�r at lcast anc ycar aftcr thc dat� of accupancy, unless Lcndcr otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances �;xist which are beyond Barrower's cantrc>I. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Praperty, allow the Property to deteriorate or commit waste on the Property. Whether or not Aorrowc;r is residin� in the Property, Borrower shall maintain the Froperty in order to prcvent the Propc:rty from deterioratin� or decreasing in value due to its condition. Unless it is determin�:d pursuant to Section S that repair c>r restoration is not economically feasible, Borrower shall promptly repair the Pro�crty if dama�ed to avoid further deterioration or damage. If insurance or epndemnation prc>cecds are paid in connection with damagC to, or th� takin� af, the Pr�perty, Borrower shall be respansible for r�pairing or restaring th� Praperty 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 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 ar its agent may make reasonable entries upon and inspections af the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. $. Borrower's Loan Application. Barrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower'S knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to providc Lcndcr with matcrial information) in connection with the Loan. Material representatians include, but are nat limited to, representations concerning Borrower's accupancy of the Praperty as Barrawer's principal residence. 1111056355 u s �-6(NE) �oao��.o2 P�e 7 of 15 ��P�TiI 3QQ$ '�/Q')