201008906 - Laserfiche WebLink

Browse

2oioos9os wark has been completed to T.ender's satisfaction, provided that yuc:h inspection shall be undertaken prornptly. Lender may disburse proceeds for the repairs and restorati�n in a single payrnent or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall nat be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or oth�r third parties, retained by Borrower shall not be paid out of the insurance prUCCCds and shall b� th� sale obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security wc�uld b� l�ssened, the insuranc� proceeds shall be appli�d ta the sums secured by this 5ecurity Instrurnent, whether or not then due, with the excess, if any, paid tp Borrower. Such insurance proceeds shall be applied in the order provided for in Scction Z. If Borrower abandons the Property, Lendcr may filc, negotiatc and s�ttle any available insuranc� claim and related matters. If Borrower does not r�spUnci within 30 days tc� a natice fram L,ender that the insurance carrier has �ffered tc� scttle a clairn, then I,endsr may negtttiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Praperty undcr Section 22 or otherwise, Borraw�r h�r�by assigns to I,�nder (a) Barrawer's rights ta any insuranae proceeds in an amount not to exceed the amounts unpaid under the Note or this Securily Inslrument, and (b) any other of Borrower's rights (oiher than th� right to any refund t�f unearned premiums paid hy �3orrower) under all insurance policies covering Lhe Prc�perty, insc�far as such righls are applicable tc� the coverage of the Property. Lr:ndc:r may use tlx� insurancr: prc7ceeds �:ith�r tU rspair ar restare the Property ar to pay amounts unpaid und�r the Note ar this S�curity Instrument, wheth�r or not then due. 6. Occupancy. Bunrower shall GCG11]7� establish, and us� the Prapsrty as Borrower's principal residenc� within bQ days after the execution of this Security Instrument and shall continue to oceupy the Property as Borrow�r's principal residence far at least otxe year after the date of occupancy, unless Lender ath�rwise agre�s in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstanc�s �xist which are beyond Borrower's control. 7. Preservation, Maintenance and �ratection af khe Praperty; Ynspectians. Barrawer shall nac destrpy, damage ar impair the Property, allow the Praperty to deteriorate or cornmit wast� oq th� Paraperty. Whekh�r ar not Barrower is residing in the Paroperty, Barrawer shall maintain the Praperty in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not econornically feasible, Borrower shall promptly repair the Property if daniaged to avoid further deterioration or damage. Tf insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, �orrower shall be responsible 1'or rr.pairing or restoring thc: Property only if Lender has released proceeds for such purposes. Lender may disburse procEeds far the repairs and restoration in a single paymenf or in a series of progress �ayments as t.h� wark is completed. If ihc insurance or condemnation proceeds are not sufficient to repair ar restore th� Praperty, Borrawr:r is nUt rclieved of Borrower's obligation for the completion of such repair or restoration. Lend�r or its agent may make reasonable cn[ries upon and inspections of the Property. Tf it has reasanable cause, I.snder may inspect the interioz' pf the improvements on the Pro�erty. Lender shall give Borrawer natic� at the time of or prior tp such an interior inspection specifying such reasonable cause. 8. Borrpwer's Loan Applica#ian BQITGWCI shall be in default if, during the Loan application process BqT"TpWCr vr any persotts or �ntities aGting at the direction of Borrower or with Borrower's knawledge ar c;ansent gave maGerially false, misl�ading, or inaccurate infarmation or statements to Lender (or failed to provide Lender with material information) in Ganncction with th� I.,aan. Material representations include, but are not limited to, representations cancerning Borrawer's accupancy of lhe Property as Borrower's principal residence. NE6RA5KA - Single �amily - 1=annie Mae/Freddie Mac UNIFpRM INSTRUM�NT � �-6�NE► losiil Pape7of 16 in�tiais: �� Form 3Q28 1/01