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<br /> �� � �� " including floods or flooding, for which l.eader rcqulres insuru�. 'Iiile iusurance shall be maintalnecl ln the mnounte and
<br /> for the pedods that Lenderrequirea.The inswance cArder provlding the insurance shal�tain covei��descdbedbabove, �Y
<br /> Leader'e approval whlch ehall not bC unrenssoaably wittsheld. If Bonower falle to 8 -
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<br /> "'�° � - lxnder may,At I.eader's option,abt�in eavsr�ge to proteet Lender'e righte ln the Property In arccotd�ncc with paragrnph �;___
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<br />-�:�'i;�•;. ' �� All inswnnct pollctes �ud reQeW�le ehall be �cc�ptablo to I.ender and ahall Include a standard mortgage clause. �. _-
<br /> au
<br /> °"'"t;' Lender shall have the dght to hold the policia ind renewas. If Lender ccquires.IIorroaer ehall procnptly give to Lxnder �:
<br /> ' all receipts of paid prnniums and renewel noticey.In ihe event of loss. Borrower ehaU glve prompt notice to the insurance �",.
<br />" emrrier utd Lender. l.ender msy tt�lce pcaof oi losa iP aot made prompAy by Borrowcr. _ _
<br /> �"��� llulas Leader�nd Borrower osherwiee�gra 1n writiag,inautAace procseds ahall be�pplied to restoration orrepair =
<br /> --�._._�� of the Property duna8ed if the reswration or rep�tr ie economically feasible u�d Lender's Rocuriry Is aot lessened•1Y the ^
<br /> r�storation or repair ia not ecoaomically feasible or Leader'e eecurlty would bc laseaed. the insunna proc�d° �a11�
<br /> • t. applied to the sums sxured by thia Security Inatnunent.whether or aot thea due,with aay exaas p�Id
<br /> to Horrower. If
<br /> , ,� }3orcow�r abandoas the Property. or doa not enswer within 30 d�ys a notice from Lender thAt Ihe insurance carrler hu
<br /> o ff e r e d t o s e t t Ze a claim,then I.ender may coltect tbe instue�a Prc�is•kAder tn�Y ua��►°p���o repalr or resrore
<br /> ,_.`;a« • the Property ur to pAy sums sec u r e d by t h is S e cu r I ty u�s u u m e n t, w h e t h e r o r a o t t h e n d u a T h e 3 0•d a y p edod will be g{n _
<br />:-..,;,,,`r ; when the nottce ie givm. !lcaUion of procceds to prfacipal ehall not extend ar
<br /> --� Udess Lender�nnd Borrower otherwise agree in writing,�►Y iP� 1 and 2 or change the amount of the pAyments•If
<br /> *,~�:�� postpone the due date of the monthly paYtaents raferred to in psuraxgrap °
<br /> .���'�` �•�. uncter paragraph 7.1 the Property ieacquired by Leader.Borrower'e right to eny IasuxAacc policies and proceeds resulting
<br /> ���:��`.`� � from duna e to the Property prtor t the scqulsltloa shaU pass to I.ender to the�atent of the sum9 secuted by tlris Security
<br />',�::;,�" Instrument etel pdor W the acquia{tion.
<br /> "_=- y PreservAtion, Maintauina And Protectlon ot the Pro�ertyi Borrower's I,oan Appltcatloai
<br /> -;; =� �' ���'' as Bozrower e rinci al reaidence wtthW stxty daYs �
<br /> -_��.�'�.� I,e�sehQlde. Borrower sball occupy,establish, and use U�e Fraparty P P
<br />--_--_= aRer the exxudon of thie Securlty Insuwixnt and sunles�I.ender otherwieye agcees in�writing,whlch nsentp hall not be
<br />;�:r=�-�,; for at least one year after the date af occupancy, .
<br /> "�.�� unreasonably withheld. or unless exteauatixg circus�nsstaaoea cacist which are beyond Borrower s control.Borrower ehall not
<br /> ' desuoy. daznaBe or impair the Property. n11ow the Property w det�rlorate. or commlt waste on the Property. Borcower
<br /> _Y;�£<;-;',; shall be in default if any forfeiture action or procecding,whether c1vU or crimintl, Is begua thet in L�nder's good faith
<br /> �- 3udgment could r�sult in fodeiture of the PropertY or othenvise maudally impair the lien cceatod by this Seeurity
<br /> '"'� �asuwnent or Lender's secudtY inu� � �����'���g ��a�t J�der'�s g eood faith�detern�ina�on,�pnc8udea
<br /> causing the acdoa or proceediAg
<br /> .'��'' ` forfelnue of the Borrower's intereat in the Property or other macedal ��irtt�t of the lien created by this Security'
<br />''-'+�� _ Instmm��nt or I.e�tder's�xurlty intcnst.Borrower ahall also be Ia default if rrower,during the loan�pplication procesa.
<br />��� gave materiatly fnlse ur lnaccurau iaformation or atateu�►ts to Lender(or failed to provide I.euder with any materl�l
<br />°'c'".�.o"a"`�° infom�ation)in conuectioa with th�loaa evidcnced by the Nou. L►cluding,but not limited to,representationa conc�r�g
<br /> ..-. �— gorn�wer's occupancy of ihe Pcupc�iY s�a tsriaciP�2 r�3dea�=.If t1�--;'`�u*�ri���t is an a leasehold,Bomower shell
<br /> ea�
<br /> ' `� comply wlth all the pmvisiona of the lease. If Bortower acquites fee tide to the Property,the Ieasehold and ttie ia dde
<br /> :.'� sha11 not merge unlas L�ender agrees to the merg�r fn wrlting.
<br /> _ -- 7.ProtecUon o[L e n d e r's R i Q h t s i n t h e P r o p e rt y. I f B o tt o w er fails to p erforcn the wvenants and ts
<br /> �n��in this Securlry Instiument, or there is a legal procoedin8 that way sIy�ficaady affxt I.rnder's ri ta in t ho
<br /> ,_„�,�„� p�perty�su�b as a proceeding in bankruptcy,pmbate.for condemnation or forfelture or to enforce laws or cegulatioas).
<br /> --- -- then I.ender may do and pay for whatever is necessary to protecc the velue of the Property and I.ender's r�ghta in t1u
<br /> _--- praperty. Lender's actions muy include paying any s�inns secured by a lien which hes pwQm�ake npain s Alt�hough
<br /> — Inetmm�ent. aP 8 in court.paying reasonable attoraeys'fas and enuring ua the ProP�rt3'
<br /> � Lender rnay e actlon under this paragraph 7.Lender does not have to do so.
<br /> -�-.-,�� ,e►ny a�aownta disbursod by Lender uader tt►is paragraph 7 ehall become addidoaal debt of Borrower secural by thls
<br /> - - Securlty Instnun�nt.iJnlesa Borrower and T.ender agra to other tem�s of payment.these aa�ounte shtU bear intereat from
<br /> the date of disbursement at the Note rate and shaU be payable, with interest� upoa nodce from 1.end�' to Fsorrower
<br /> �u�g gMortg�age Inaurance. If L.ender required mortgage iasuranoe as a oondicion of maldng the loxn secun�cL by thiv
<br /> Securfty Insrivment,Borrower shall pay the pnmiums required to t�ooaintain the mortga�e insurau�� effect. If,far�ny
<br /> reason, the mortgage insurance coverage reqaired by I.ender lapses or ceas�s to 1� in effect, Eiocrower ebelt pay the
<br /> premiumg required to obtain wverage substantinlly equivalent to the mortgage insurance previously in effect. at s cost
<br /> substeuti�lly equlvalent to We cost w Borrower of the mortgage�nsurancc previously ia effect�from+n altern�te mort8�8e
<br /> ineurer approved by I.ender.If aubstaatiollyequivalent mortgsge insurat►ce coverage is not avulable,Borrower shall pay
<br /> to Lender each moath a aum equal to one-twelfth of the yearly wortgage insurance premiwn beia8 Paid by Borrower when
<br /> �-"� tho insunnce wver�ge lapsed or ceased to be ia effect.Lender wW accept,use and retain these PaYmats as n loss resetve
<br /> in(ieu of mortgage insuraace• Loss reurve PaYments m�Y� longer be required.�t the option of I.ender, if mortg e
<br />- - insuruace coverage(in the amount and for the perlod that Lender requins)providul by an insurer appmved by�er
<br /> =�- agAia becomes avallable and is obtainal. Borrower shall pay the premlums reqt►ired to mainttia mortgage insuranex in
<br /> effect� or w provide a loss reserve. until the rcquirement for mortgage insuraace ends i�► accordence With anY writtrn
<br /> :'�"�'"""'°' agreeineat between B�rrower and Lender or applicable law. Form 3028 9/90 fpaye 3 0/61
<br /> _�=-r��� BANKENS SY6TEMS,INC.,8T•CLOUO.MN 6630211-800�397-43t11 FORM MO•t•NE Y/6/81
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