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201 10307� work has been completed to Lender'§ sadsfaction, provided that such inspecHon shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of pm�ress payments as the work is completed. Unless an agreement is made 9n writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not � reqwired to pay Borrower ury interest or earnings on such proceeds. Fces for public adjusters, or other third parties, retainetl by Borrower shall not be paid out of the insurance proceeds and shall t� the sole obligation of Borrower. ff the restoration or repair Ls not economically feaslble or Lender's security would be lessened, the insurance proceeds sha11 be applled to the sums secured by this Security Ittstrument, wheWer or not then dne, with the eaccess, if airy, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. ff Borrower abandons the Property, Lender may flle, negoHate and settle ury available insurance claim and related matters. If Borrower does not respond within 30 days to a noHce from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day per�od will begin when the noflce is given. In either event, or if Lender acquires the Property tuider Section 22 or otherwise, Borrower hereby assigns to Lender {a) Borrower's rights to azry insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Secw�ity Instrument, and @j any other of Borrower's rights (other than the right to any refund of nnearned premiums paid by Bonower) under all insurance polldes 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 Pmperly or to pay amounts unpaid under the Note or this Security Inshvment, whether or not then due. 6. Occnpancy. Borrower shall occupy, establlsh. and use the Property as Borrower's principal residence within 60 days after the execution of tWs Securlty Instrument and shall continue to occupy the Property as Borrower's prindpal residence for at least one year after the date of occupancy, unless Lender otherarlse agrees in wr3ting, which comseat shall not be unreasonably withheld, or unless extenuating circumstances exist which are I�yond Borrower's control. 7. Praervation, Maiatenance and Protedion of the Property; Inspections• Borrower shall not destroy, damage or impair the Prnperty, allow the Property to deteriorate or commit waste on the Property. Whether or not �orrower � resic�g itn Qhe Y'rope�ty, �orrower shall maintain t?ne Property 9n order to prevent the Property from detedoratlng or decreasing in value due to its coadition. Unless it is detemiined pursuant to SecHon 5 that repair or restoration is not economically feasible, Borrower shall prompfly regair the Property if damaged to avoid further detedoraflon or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Praperty, Borrower shall be responsible for repairing or restoring the Property only if Leader has released proceeds for such purpases. Lender may disMuse proceeds for the repairs az►d restoration in a single payment or ln a sedes of progress payments as the work is completed. If the insurance or condemnation proceeds are not suf�cient to repair or restore the Property, Bonower is not relieved of Borrower's obligation for the completion of such regair or restoration. Lender or its agent may make reasonable enMes upon and inspecflons of the Property. ff it has reasonable cause, Lender may inspect the interlor of the impmvements on the Property. Lender shall give Borrower notice at the tlme of or prior to such an inter�or iaspecHon specifying such reasoaable cause. 8. Borrower' a Loan Application. Borrower shall be in default if, during the Loan applicaflon process, Borrower or any persons or entities acHng at the dlrection of Borrower or wiW Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Materlal representaflons include, but are not limited to, representaHons conceming Borrower's occupancy of the Property as Borrower's princigal residence. OQ1122399875 CitiMortgage 3.2.45.41 V2 � SKA - Single Famtly - Fannie MaelFr�eddie Mac UNIFORI41 INSTRI.IMBdT WIT� A(N� taio� �e 7 or �5 wu�s: Form 3028 1/01