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201009612 work has been completed ta Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds £or the repairs and restoration in a single payment or in a series of pragress payments as the work is complcted. Unless an agreement is made in writing or Applic:ablc Law requires interest to be paid on such insuranec proceeds, Lender shall not be required to pay Borrar�er any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insuranc:c proceeds and shall be the sole obligation af Bqrrawer. 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 Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurane� pracceds shall be applied in the order provided for in Section 2. If Barrower abandons the Praperty, Lcnder may file, negotiate and settle any available insurance claim and related matters, If Barrower apes not respond within 30 days to a notice from L�nder that the insurance carrier has affered ta settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is �iven. In either event, or if Lender acquires the Property under 5ection 22 or otherwise, Borrowen c�:rcby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amaunt not to exe�ed the amou��ts unpaid uilder the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right. to any refund of unearned pr�miuins paid by Borrower) under all insurznce policies covering the Property, insofar zs such rights are applicaY�le to the coverage of the ProperCy. Lender may use the insurance proceeds either to repair ar restore thc Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Barrower shall accupy, c;stablish, and use the Property as Barrower's principal residence within 60 days after the executian af this Security Instrument and shall cantinue to occupy the Property as Borrower's principal resideuce far at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which cansent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Barrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspeetions. Borrower 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, Borrowcr shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value aue tc> its condition. Unless it is determined pursuant to Section 5 thdt repair or restoration is not economic;ally feasible, Barrower shall promptly repair the Property if dama�;ed to avoid further deteriaration ar damage. If insurance or condemnation proceeds are paid in c:c�nnection with damage to, or the talcing of, thc Property, Borrower shall be responsible for repairing c�r restoring the Property only if Lender has rcleased proceeds for such purposes. Lender may disburse praceeds for thc repairs and restoration in a single payment or in a series of progress payments as the work is completcd. if the insurance or condemnatian praceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for thc completion of such repair or restoration. I,ender or its agent may make reasanable cntries upon and inspections of the Praperty. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give }3orrowcr notice at the time of or prior to such an intcrior inspection specifying such reasonable cause. $. Borrawer's I.,oan Application. Borrower shall be in default if, during the Loan applicaticm process, Bc�rrower or any persons or entities acting at the direction of Borrower or with T3orrowcr's knawledge or consent gave materially false, misleadii�g, or inaccurate information or statements ta Lender (or failed tc> provide I,ender with material inforrnatian) in connection with the Loan. Material representations include, but are not limited to, representations concerning $orrower's occupancy of the Property as Borrawer's principol residence. �-B(NE) �oao��.oz � Initl Is: �� P�e 7 pf 15 111,1056292 Forrn 3A28 1101