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<br /> ;,uludt;,b Rc;,ds or flaading, for which l.ender reyuires insurance. This insurance shall be maintained in the amounts azid :�".
<br /> ~•� for the penods that L.ender requires. The insurance camer pmviding the insurance shall be chosen by 9orrower subject to ^>;_
<br /> � Lender's epproval which shalf not be unreasonably withheld. lf Borrower fails to maintain wverage described above, .�,
<br /> Lender rnay. at Lender's�ption,obtain coverage to protcxt Lender's rights in the Property in accordance with paragraph
<br /> 7.
<br /> 1 All isisurance policies and renewals shall be acceptable to Lender and shall include a staiedard mortgage clause. .'�
<br /> s Lender sh�ll havE the right tu hold the policies and renewals. !f Lender requires,Bonower shall prompdy give to Lender - • ;;
<br /> � aQ receipts of paid premiums and reiiewal notices. In the event of loss, Barrower shall give prompt notice to the insurance ; ,�`.�.;�y�.;:y; ;,
<br /> carrier and LenBer. Lender may make praof of loss if not made promptly by Bottower. . ,�f��j_��:�n�
<br /> Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be applled to restoracion or repair
<br /> of the Property damaged, if the restoratian or repair is eeonomically feasible and L.ender's security is not lessened. If the � . .547��r,�;�.,.�;
<br /> i restora4ioa or repair is not e�onomicaUy feasible or Lender's secunty would be lessened, the insurance proceeds shall be • `.iy;�;•�M�:s�,.'"
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<br /> , ,� applied to the sums securad by this Security Instrument, whether or not then due, with any exccss�aid to Borrower. If „t,�...�:
<br /> uv��vw�r abandons the Property, or does not answer within 30 days a notice ftoin Lender rhat the msurnnc�carrier has -
<br /> offered tosettle a claim,then Lender may collect the insurance proceeds. L.ender inay use the praceeds to rep�ir or restore �`������.�
<br /> the PropPny or to pay sums secured by th�s Security Wstrunient, w6ether or�iot then due. The 30-day penod wtll beg'ua :.;. , �"-�1�y�;�
<br /> � when the r.otice is given. ;• ' """'-
<br /> .?��;?��'��-
<br /> .,:�:;;� Unless Lender and Borrower otherwise agr�e in writing,any application of proceeds to principal shall not eatend or , . . , ; •� n��•�
<br /> ;.� wn�y'�•
<br /> ,?t� postpone the due date of the monthly paymen�s referred to in pr�ragraphs 1 and 2 or chnnge the Funount of thc pay�ents.If . ;����: _
<br /> ,,�;,� undcr paragraph 21 the Propertx is acquirtd by Lender, Borrower's nght to any insurance policies an�' proceeds resulting . �:''s;;�� _
<br /> �� f r o m d a rn a��t o t h e P r o p e r ty p r i o r t o t h e a c q u i s�t i o n s h a l l p a s s t o L e n d e r to the extent of the sums secured b y this Securi t y :
<br /> Tnstrumert irnmediately pnor to the acquisition. �`� �
<br /> Horrower's Loan � lia►tion; ' '� '%'• r :,
<br /> 6.Occupancy� Preservation, 1VIAintenance nnd �rotection of the Property; pp
<br /> ''�:� � Leuseholds. Borrower shall occupy, establish, And use the Property as Bonowor's pnncipal residence wiWin si�ty days �• �'i;:i; •j ; 's .
<br /> '���� for a lcast one�yearf after the date Iof occ pancyd sunless�Le der atherw�e agrees��n writing whi h c nsentp hall9nflt ba •1�:�
<br /> ', �r 1 e ;;��,
<br /> �.� •_,;,,:_;;'� . unreasonably withheld,or unless extenuating circumst�PCes exist whicb aze beyond k3orrower's control.Borrower shall not ,;�;�+; ' •., ?� �,
<br />- •°';,�?J destray. dannage or impais the Yropert�r. allow [he Froperry [o deier;oraie, o. �uu��iiit wa�ie on:�e rrc�.iy. °a:r;,�;;.r ';;;�� — .
<br /> ., ��',`•� shall be m default lf anY forfeiture action or proceeding,whether civil or crimina3, is begun that in Lender's good faith .'
<br /> ,'�r.� . judgment could result in forfeiture of the Property or otherwise materially impair the lien createct by thia Security � .,., .� '
<br /> �:, Instrument or Lender's secunty mterest. Bonower ma�cure such a defaWt and reinstate, as provided in pazagraph 18,by p;� ' � ' �.
<br /> causiag the action or proceediag to be dismissed wuh a ruling tbat, in Lender's good faith dsterminatiun, precludes -
<br /> forfelture of the Borrower's inte�est in the Property or other material impaument of the lien creuted by this Securlty : _
<br /> Instrum�nt or Lender's se�urity interest. Borrower shall aSso be in default if Honower,durin�the loan application process, �
<br /> �ave materially false or inaccurate information or statemenu to I.ender (or failed to �rovtde Lender with any xnaterial ;
<br /> infomiation) in connection with the luan evidenced by the Note, including, but not lim�ted to, representations conceming '` �'
<br /> ., Borrower's occupaucy of the Praperty es a principal residence.If this Security Instniment is on a leasehold.Bornower shall
<br /> comply with all the provisions of the lease. If Bonower acquires fee tttle to the Property, the leasehold and the fee title
<br /> shall not merge unless L.ender ngrees ro thc merger in writing.
<br /> . ?.Protection ot Lender's Rights in the Property. If Borrower falls to p$rform the covenante nnd agreements � `?""
<br /> � , . contained in this Security Instrument,or there is a tegal proceedtng that may significantly effect Lender's righta in die • � "+`—
<br /> Property(such as a prnceed�ing tn bankruptcy, ptobate, for condetnnation or focfeiture or to enforce laws or regulations), r�`-
<br /> � then L,ender may do and pay for whatever is necessary to protect the value of the Property ar.d Lender's righ►.s in the :--_— —
<br /> I�roperty. Lender's actions may include paying any sums secured by a lien which has prtoriry over this Security � ' _
<br /> Instrument, apFearing in court. paying resisonable attorneys' fees and entering on the Property to makc repairs.Although . -
<br /> s
<br /> Lender rnay take action under this paragraph 7, L,eader does not have tp do so. � •
<br />- Any amounts disbursed by Lender under this paragraph 7 shell become additional debt of Borrower secured by this '�•t=�_==_
<br /> _ Secnrity(ns4niment. Unless Burrower and I.ender agree to other terms of payment, these amoun�s shall bear interest from ..;��- _ _ -
<br /> _ the date of disburscment at the Note rat� and shall be payable, with interest, upon notice from Lender to Florrower i. �;.;.___
<br /> _. requesting payment. ' � ;;� ----
<br /> i S.Mortgage In�urs�nce. If Lender requiced martgage iasurance as a condition of maldng the loan secured by this •-=
<br /> +�.:�°-
<br /> Secudty Instrument, Borrower shall pay the premiums re.�u�red to maintain the mortga�e insuranr.e in effect. if. for any ?. �••..,_ �•�_n_
<br /> r�ason. t6e mortgage insurance coverage required by Lender lapses or ceases to be in effect, Boaower shall pay the �, ,�;s.�tEhTd��_s'�;'ll■�14�;
<br /> premiutu9 required to obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost , ;f:r �c
<br /> .l� F.�
<br /> substnntielly equivalent to the cost to Borrower of the mortgage insuraace previously in effect,fror�an altemate mortaase � '. ��• 4::� :,.t�:r..;
<br /> - insurer approved by I.ender. If substantially equivalent mortgage insurance coverage is noi av�ilable, Bonowex shall pay 'j� , �',;.;y;�x�;���rl'"-':�•�
<br /> i ' .t�•tiyl�1 k�..... .
<br /> to i,ender each month a sum equal to one-twelfth of the yearly mortgage insurance premium being paid by Borrower when : . ,�4.:::�,
<br /> tbe insuranc�covera�e lapsed or ceased to be in effect. Lender will accept, use and retain these payments as a loss reserve - � '�1'•'^'���.:�.,,
<br /> in licu otmortgage msurance. Loss reserve payments may no longer be required. at the oprion of Lender. if mortgage _ . "�°�'��-`••='':'`�.� ;. .
<br /> , insurtusce coverage(in the amount and for the period that Lender requires)provided by an msurer approved by Lender I � '��' �-� ��
<br /> again becomes availabte and is obtained. Bonower shall ay the premiums r uined to mai�tain mort a e insurance in � '.'``°.
<br /> P �9 S $ ,i 1�".���,_•:�:.
<br /> — . � effect, or to provide a loss reserve.until the requirement for moflgage insurance ends in accordance with any written
<br /> � agreemeni between Borrowec and Lender or applicable law. Form 30 rpago o� 1 � . .
<br /> BANr.EAS Sr6tEM5,iNC.,5T.CLOUD.MN 60302(1 800•397,13t11 FORM MD•1-NE�/5/9t �� �� � .
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