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2oioos�9� work has been cornpleted to L�ndc:r's satisfaction, provided that such inspection shall be undertaken promptly. L�nd�r may disburs� praceeds for the rcpairs and restoration in a single payment or in a series of pragrc;ss payments as the wc>rk is completed. Unless an agreement is made in writing or Applicable Law requires inter�st ta be paid on such insurance �rocecds, Lender shall not be required to pay Borrower any interest or earnings on such prc�ceeds. Fees for public adjusters, or other third parties, retained by Barrower shall nat be paid aut of the insurance praceeds and shall be the sole obligation of Borrower. If the restoration or repair is not econornically feasiblc or Lendcr's security would be lessened, the insurance proceeds shall be applied to the sums secured by tl�is Security Instrum�,�nt, wheth�r or not then due, with the excess, if any, paid to Borrower. Such insuranee procr:�ds shall bc applied in the order provided for in Section 2, If Borrower abandons the Property, Lender may file, negatiatc �nd settle �ny availablc insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negatiat�; and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, $orrower hereby assigns to Lender (a) $orrower's rights ta any ii�surance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrumc. and (b) any other of Barrower's rights (other than the right to any refund af unearned premiums paid by Barrower) under all insurance policies covering the Property, insofar as such rights are applicabl� to the coverage of the Property. Lender may use the insurance proceeds either ta repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or nat then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the executian of this Security Instrument and shall continue to occupy the Property as Borrower's principal resideiYCe fc�r at lcast one year after the date of occupancy, unless Lender otherwise agrees in writing, whicl� canscnt shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Barrawer's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall nat destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Iiorrower shall maintain the Property in order ta prevent the Property from deteriorating or decreasing in value due ta its condition. Unless it is determined pursuant to Section 5 that repair or restoration is nat economicdlly fcasible, $orrower shall promptly repair the Property if damaged to avoid further deteriaratian ar damagc. if insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Barrower shall be responsible for repairing or restoring the Prop�rty 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 rclieved of $orrower's obligation for the completion of� such repair or restoration. Lender or its agent may m�ilce reasonable entries upan and inspections af the Property. If it has rcasonable cause, I,ender may inspect the interior of the improvements on the Property. Lender shall give T3orrower nc�tice at the time of or prior to such an interior inspection speci such reaspnablc cause, $. Borrawer's Loan Application. Borrc�wer shall be in default if, during the Laan application process, Borrower or any persans ar entities acting at the direction of Borrower or with Barrower's knawledge ar cansent gave materially false, misleading, or inaccurate information ar statements to I,ender (or failed ta provide Lender with material information) in cannection with the Loan. Material. representatians include, but are not limited to, representations concerning Borrawer's occupancy of the Property as Borrower's principal residence. �-6(NE) �oao7�.oz P�a 7 oT 15 ; �� � � 117.1056576 Form 3028 1/01