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201109342 All inswance policies required by Lender and renewals of such policiea ahall be aubject to Lender's right to disapprove such policies,shall inclxide a atandard mortgage clause,and shall name Lender as mortgagee andJor as an additional loss payee.Lender shap hnve the right to hold the policies and renewal certificatex.if Lender requires,Borrower ahall prompUy give to Lender all receipte of paid premiums and renewal notices. If Borrower obtains atty form af ittsutance coverage,not otherwise required by Lender,for damage to,or destruction of,the Property,auch policy shall include a standaid mortgage clause aad shall name Lender as mortgagee and/or as an additional loss payee. Ip the event of loss,Boaower ahaU give prompt aotice tp tt►e insurance catri�and Lepder.Lender may make proof of loss if not made prompfly by$orrower.Unleas Lender and Borrower atherwise agree in writing,any insurance pmceeds,whether or not the uodcrlying insurance was required by Lendor,shall be applied to restoration or repair of the Properly,if the restomtion or repair is economically feasible and Lender's se�urity is not lessened.Duripg such repair and restoration period,Lender shall have the right to � hold such insuranca proceeds until Lender has had an opportunity to inspect such Property to ensure the wvrk hae been completed to Lettder's satisfaction,provided that suc6 iaspection shall be undeetaken promptly.Lender may disburse proceeda For the repairs sad restoration ia a single payment or in a series of progoas paymeats as the work is completed.Unless an agreement is made in writing or Applicable Law requires interest to be paid on such inaurance proceeda,Lender shall not be required tn pay Borrower any interest or earnings on such proceeds.Fees for public adjusltrs,or oWcr third parties,retaincd by Sorrower shall not be paid out of t6e iasn�ance proceeds and shall be the sole obligation of Borrower.If the restoration or repair is not economically feasi6le or Lender's axurety would be leasened,the insurance proceeds sball be applied to the sums secured by this Secwity Tnstrument,whether or not thea due,with the excess,if any, paid to Borrower.Such insurance proceeds shall be applied in the order provid�for in Section 2. If Borrower abandons the Property,Lender may file,negotiate and settle aay available insarance claim and related matters.If Borrower does not respond within 30 daya ta a aotice Gom Lender that the insurattce carrier has offered to settle a claim,then Lender may negotiate and settle the claim.The 30-day period will ! begin when thc notice is given.In either event,or if Lender acquires the Property under 5ection 22 or otfierwise,Borrower Lereby assigns to Larder(a)Borrower's righta to aay ittsucance Qroceeds in an amount � not to exceed the amounts unpaid under the Note or this Security Instrument,and(b)any other of Borrower's rights(other than the right to any refund of unearned premiums paid by Boaower)undu aJl insurance policiea covering the Property,inaofar as such rights are apglicable to the coverage of the Properly.Lender may nse the ins►uance procceds eithef ta repair or restore the Property or to pay amounts unpaid under the Note or tlus 5ecurity Instntment,whether or not then dac. 6. OCCUpoltey.Borrower shall occupy,establish,and use the Properly as Borrower's principal residc�nce within GO days after the execution of this 5ecurity Instrwnent and shall continue to accu{5y the Property as Boaower's principa]residence for at least oue year after the date of occupancy,anlesa Lender otherwise agrees in writing,w6ich consent ahall not ba unreasonably withheld,or unleas extenuating circumstanees exist whic6 are beyond Borrower's control. 7. Preservation,Maintenanceand Protecttonnt the Property;Inspections.Barrower shal!not dastroy, . daxnage or impair the Properly,allow the Property to deteriorate or commit waste on the Property.W6ether or not Borrower is residing ip the Property,Borrower ahal)maintaia the Properly in order to prevettt the Property&om deteriorating or decreasing in value due to its conditiou Unless it is determined pursuant to 5ection 5 t6at repair or testoration is not xonomically feasible,Borrower aball promgtly repair the Property if damaged to avoid further dtterioration or damage.If ins�uance or condemnation proceeda are paid in cocwection with damage to,or the taking of,the Property,Borrower sLall be responsible for repairiug or restoring the Property only if Lender has released proceeds for such purposea.Lender may disburse proceeds � - V'E�6RA�SKqSi�ryle Family-Fennie MaelFreddi�Mec UNIFORM 4N8TRtNAENT � � �-),. Form30281107 � VMPB(NE)(1105).00 Wdtem Kluwer Financial 8onboa ^ �. Pepe 7 of 17 . L�