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2aiios355 work has bcen complete� to Lender's satisfaction, provided that such inspection shall be unde�taken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the wc�rk is completed. Unless an agreement is made in writing or Applicable Law requires inte�est to be paid on such insurance proceeds, Lender shall not be required to pay Bonowet a�y interest or earnings on such proceeds. Fees far public adjusters, or oth� third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrowerr. If the restoration or r�air is not economically feasible or Lender' s security would be lessened, the ins�n�ce procceds shall be applied to the sums secured by this Security Instrument, whether or not then r� with the excess, if any, Paid to Borrower. Such insurance proceeds shall be applied in the order provid�ed for in Secrion 2. If Boirower ebandons 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 tha�t the insurance carrier has offered to s�tttle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if' Lender acquires the Property unde.r Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower' s rights to any insarance proceeds in an amount not to exceed the amounts unpaid under the Note or this 5ecurity Instri�ment, and (b) any other of Bonower's rights (other thau the right to any refund of une�ned premiums paid by Borrower) under a11 insurance policies covering the Property, insofaz as such rights are a}�plicable to the caoverage of the Froperty. L�der may use the insurance procee�s either to repair ar restore the Property or to pay �nounts unpaid under the Note or this Security Inshvment, whether ar not then due. 6. Occupancy. Boaower shall occupy, establish, and use the Property as Bonowet's principal residence within 60 days after the execution of this Security Instrument and shatl continue to oocupy the Property as Borrower' s principal residence for at least one yeaz after the date of occupancy, unless I.�nder otherwise agrees in writing, wtuch consent shalt not be unreasonably withheld, or unless e�xivating circwnstances eaust which are beyond Borrower' s control. 7. Preservation, Maintenaace aad Protection of the Properly; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to d�eriorate or commit waste on the Property. Whether ar not Borrower is residing in the Property, Bonower shall maintain the Property in arder to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant tn Section 5 that repair or restoration is not economicallq feasible, Borrower sha�l promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceads are paid in connection with damage to, or the taking o� the Praperty, Borrowea shail be responsible far r�,pa.iring or restoring the Property only if Lender has released proceeds for such purposes. Lender may disb�se proceeds for the repairs and restoration in a single payme�t or in a series of progress payments as the work is completed. If the inc�r�ce or condemnation proceeds are not suf�icient to repair or restore the Property, Borrower is nat relieved of Borrower' s obligation far the completian of such repair ar restoration. Lender or its agent may make reasonable 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 prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Bonower ar any persons or entities acting at the direction of Bonower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failefl to provide Lender with material information) in connection with the Loan. Material representations include, but are not limite� to, representations concerning Borrower's occupancy of the Property as Borrower' s principal residence. 2200162791 D V6ANE N�R/1SKA - Single Family - Fannle Mae/Freddle Mac UNIFORM INSTRUMENT WITH M (�-6A(Nq �oa�o� � � of ts i�u�: �� Form 3028 1/01 �