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<br />.�bsequent charges each time remappings or similar changes occur which reasonably might affect such
<br />etermination or certification. Bonower shall also be responsible for the payment of any fees imposed by the
<br />ederal Emergency Management Agency in connection with the review of any flood zone determination
<br />�sulting from an objection by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage,
<br />t Lender's option and Borrower's expense. Lender is under no obligation to purchase any particulaz type or
<br />mount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Bonower,
<br />�onower's equity in the Property, or the contents of the Properly, against any risk, hazard or liability and
<br />iight provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost
<br />f the insurance coverage so obtained might significantly exceed the cost of insurance that Bonower could
<br />ave obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of
<br />�orrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date
<br />f disbursement and shall be payable, with such interest, upon notice from Lender to Bonower requesting
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee
<br />i/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If
<br />nder requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If
<br />rrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
<br />�truction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
<br />�rtgagee and/or as an additional loss payee.
<br />In the event of loss, Bonower shall give prompt notice to the insurance carrier and Lender. Lender may
<br />1ce proof of loss if not made promptly by Borrower. Unless Lender and Bonower otherwise agree in
<br />iting, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be
<br />�lied to restoration or repair of the Property, if the restoration or repair is economically feasible and
<br />nder's security is not lessened. During such repair and restoration period, Lender shall have the right to
<br />ld such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work
<br />� been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
<br />nder may disburse proceeds for the repairs and restoration in a single payment or in a series of progress
<br />yments as the work is completed. Unless an agreement is made in writing or Applicable Law requires
<br />erest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or
<br />nings on such proceeds. Fees for public adjusters, or other third parties, retained by Bonower shall not be
<br />id out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is
<br />t economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to
<br />: sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
<br />�nower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Properly, Lender may file, negotiate and settle any available insurance claim and
<br />ated matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance
<br />rier has ofFered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will
<br />gin when the notice is given. In either event, or if Lender acquires the Properiy under Section 22 or
<br />ierwise, Borrower hereby assigns to Lender (a) Bonower's rights to any insurance proceeds in an amount
<br />t to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Bortower's
<br />;hts (other than the right to any refund of unearned premiums paid by Bonower) under all insurance policies
<br />vering the Property, insofar as such rights aze applicable to the coverage of the Properly. Lender may use
<br />; insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this
<br />curity Instrument, whether or not then due.
<br />6. Occupancy. Bonower shall occupy, establish, and use the Property as Borrower's principal residence
<br />thin 60 days after the execution of this Security Instrument and shall continue to occupy the Property as
<br />inower's principal residence for at least one yeaz after the date of occupancy, unless Lender otherwise
<br />rees in writing, which consent shall not be unreasonably withheld, or unless e�ctenuating circumstances exist
<br />iich are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Bonower shall not
<br />stroy, damage or impair the Property, allow the Properly to deteriorate or commit waste on the Property.
<br />hether or not Bonower is residing in the Property, Bonower shall maintain the Property in order to prevent
<br />� Properiy from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />ASKA- Single Family - FannieMae/FreddieMac UNIFORM INSTRUMENT
<br />3028 1/01
<br />orms Inc. (B00) 446
<br />IMA3028 4/02 Page 6 of 13 Initials: a ' a �
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