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20100952� or other thiard 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 Instrurnent, whether or nat then due, with the excess, if any, paid to Borrower. Such insuraaice proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered ta settle a clairn, then Lender 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 ar atherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an arnount noC to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any ather of Borrower's rights (other than the right to any refund of uneamed prerniums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower sha11 occupy, establish, and use the Property as Borcower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Boxrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, ar unless extenuating circumstances exist which are beyond Borrower's control. 7. Freservation, Maintenance and Protection of the Property; Inspections. Borrow�r shall not 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, Borrower shall maintain the Property in order to 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 not economically feasible, Borrower shall promptly repair the Froparty if darnaged to avoid further deterioration or damage. If insurance or candemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrawer shall be responsible for repairing or restoring the Property only if Lender has released prpceeds for such purposes. I..ender rnay disburse proceeds for the repairs and restaration in a single payrnent or in a series af progress payments as the work is compleced. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrawer's obligation for the completion of such repair or restoration. Lender or its agent rnay make reasanable entries upon and inspections of 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 priox to such an interior inspection specifying such reasonable cause. S. Borrower's Loan Application. Borrower sha�l be in default if, during the Loan application process, Borrower or any persons or enCities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, rnisleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in N�' BRASI{A -- Single Family — Fannie Mre/PY�eddie Mac UNIFORM INSTItUMFNT Form 30Z8 voi � GCC - G3028-08 (09/Ol) (Page 8 of 19) Initials: l 7