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<br /> � ''� including floods or tlooding, for which Lender requires insurance. This insurance shell bc malntained in thc amounts s�nd �'
<br /> � for the perloda that Lcnder requires.The insurance carrier provlding the insurance shall be chosen by Bonower subject to �-:
<br />- I.ender's approval which ehall aot be unreasonably wlthheld. If Bonower faile to malntain cc�verage descrlbed above, _
<br /> r, � � L,ender may, at Lender's option,dbtain coverage co protett L.endar'e rigdts in thc Property in accordance with paragraph —
<br />,.,;�;•. ' 7. -_
<br /> • All insurance policies and renewals ahall be acceptable to i.ender a�d shall include a standard mortgage clause.
<br /> � Ixnder shall have the right to hold the�policies and renewals. If Lender nquires,Bonower shall promptly give to Lender _,
<br /> all recelpta of paid premlums and rea�wal notices. In thc eveut of loss, Borrowcr shali give prompt nottce to the insur�tnce �
<br />:�,_'�°�'� carrIer and Lender. Lender may make proof of loss if not made prompdy by Bonower.
<br /> :�r��t� Unlass Leader and Bonower otherwise agree 1n writing,lnsurence proceeds shall be applied to restoration or repaIr
<br /> �.,,_ .� of the Property damaged,if the restoration or repalr is ecanornically feastble and Lender's securlry is not lessened. If the
<br /> restoratlon or repair is not economically feasible ar I.cnder's sa�arIty would be lessened, the lnsurance procads sball be
<br /> applied to the sums secured by this Securlry Instrument. whe�her or not then due, with any excess pald to Borrower. If
<br /> � Boaower abandons the Property, or dcea not answer within 30 days a notice from Lender that the insurance carder hes _
<br /> offered to settle a claim. then Lender may collect the insurauce proueds.L.ender may use the pracada to repsir or restore �
<br /> �- the Property or to pay sums secured by this Securiry Instrumeat, whether or not then due.The 30-day perlod will begln
<br /> z�>''r,'�', when the nottce is given.
<br /> • :,.;, • Unlesa Lender and Borrower otherwise agra ia writiag,any application of procads to principal shall not extend or
<br /> �" �'n� postpone the due date of the mouthly payments refer[cd to in patagtaphs 1 and Z or change the amount of the payments.If
<br />,�„�.••�'.'••.
<br /> :��;^,r� under paragraph 21 the Propercy i�acquired by Leader, Borcower's right to eny iasurance policies and proceeds nsulting
<br />��:c�����-• from damage ro the Property prior to the acqulsitioa shall pass to Leader to the extent of the sums secured by this Securiry
<br /> �'<_ � Iastrument imtaedlately prtor to the acquisition. ,
<br /> �;: ,4���:,'� 6. Occupancy, PreservaUon, MAlntenAnce and Protection of the Property: Borrower s T.oan AppUcation;
<br /> '-�:�'� I,easeholds. Bonower shall occupy,establish, and use the Property es Bonower's principal re.gidence withln sixry days
<br /> ':� after the executlon of thia Securiry Instnuaent an3 shall wntinue to occupy the Properry as Bortower's princlpal residencc
<br />�•���� �'�?- for at least one year after the date of occupancy. ualess Lender othervvise agrees in writing,which consent shall aot be
<br /> "`n'�'' unreasoaably withheld,or unless exteauatln circumstances e�tist which an beyond Bonower's conuol.Borrower shall aot
<br /> � " damage or im air the Pro rty, al�ow the Property to deudorate, or commit waste on the Property. Borrnwer
<br />`;./ .;,�".-.. dsstray� P P�
<br />_,�_�+�� shall be in default if any forfeiture action or procading,whether c[vil or criminal, is begun that in Lender's good falth
<br /> _�;� ju dgtnen t c o u l d r e s u l t i n f o r f e l t u r e o f t h e P ro p e rt y or othenvise tnatedall y Un pair the ltea cnaud by this Security
<br /> �nsuwnent or Lcnder's sec�ulty lnterest.Bonawer may cure such a default and ninstate,as provided in paragraph 18.by
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<br />����'�'."•;� cau5iag the action or pmceeding to be dismissed with a ruling that. in Lender's good faith deterniinatioa, pncludes
<br /> - -- forfeiture of the Borrower's interest in the Property or other materlal impairment of the Ilen created by tLis Securtry
<br /> ,--- Instrument or Lender's securlty interest.Borrower shall also be in default if Bonower,during the loan application process,
<br /> __��m� gave materlally false or iaaccurate information or statements to Lender(or failed t o provide L.eader with any materlal
<br /> inio�,;;;,t�ou}�n cxiimcct ion•��i s h s h=lQan sv i de��!fi y r h e N o c e; i n c l u d i a g:b u t n o t l i m i t e d t o, r e p r e s e n t a t ions wncerain g
<br /> -=_-=— Boaower's occupancy of the Froperty as a princlpal residence.If thts Secunty Insuument ia on a leasehold.Borrower ahall
<br /> _-__ comply with all the provisions of the lease. If Boaower acquires fee tide to the Property, the leasehold and the fa title
<br /> _- shall not merge unless Lender agrees to the merger la writtag.
<br /> 7, protedtoa o[La�da's Rtghts in the Property. If Borrower fails to perform the covenants and ments
<br /> ----- conts�ined in this Securlty Jasuument. or there i�s a legal procoeding that may siqni ficandy affect I.ender's d�in the
<br /> --`— Pcopercy(such as a procad3ag in banlauptcy,pmbau, for condemnatioa or forfetture or w enforce lawa or regulationa),
<br /> then Lender may do and pay for whatever is netessary to protect the value of the Property and I.ender's rlghts ln the
<br /> propeny. I.ender's acttons may include paying eny sums aecured by a lien which has priority over tlua Secuci
<br /> � ��A�, g in court,paying nasonable attomeys' fees and entering on the Property to make npurs.Althoug�
<br /> L,ender msy�on uader thls paragcaph 7,L.ender does not have to do so.
<br /> Any amounta disbursed by Lender under thia paragraph 7 shall become additloaal d�bt of Banower secured by this
<br /> Securlty Insuument.Unlesa Borrower and Lcnder agroe to other terms of payment.these amounts shall bear iaurest from
<br /> the date of diaburaement at the Nou rate aad shall be payable,with intetest, upon notice from Lender to Borrower
<br /> requeadng payment. .
<br /> 8.Mortga�e Inaue�ance. If Lettder required mortgage insurancc as a coaditioa of maktng the loan secured by this
<br /> - Security Inattument,Bornower shall pay the pramiwns required to maintain the mortgage insurance in effect. If.for any
<br /> �-� rerson, the mortgage insurance coverage required by Leader lapses or ceases to be in effect, Borrower shall pay the
<br /> -- pzemium� requirod to obtain coverage eubstantially equtvaleat to the mortgage insurazice p�eviously in effect. at a wst
<br /> --- substenttally equivalent to the cost to Borrower of the mortgage insurance previously in effect,from an altemate mortgage
<br /> _. insunr appmved by I.ender. If substantiallyequivalent�nortgoge insurance coverage is not available.Borrower shall pay
<br /> '—� to L,ender each month a sum equal to oue-twelfth of We yearly rnortgage insurance premium beinB Pald by Bonower when
<br /> the�nsuraace coverage lapsed or ceasod to be in effxt. Lender will acc�pt.use and ntain tLese paymeats�s a losa reserve
<br /> in lteu of mortgage insurance.Loss resen+e PaYments maY m loager be nquIred. at the optlon of l.cnder. if mortgage
<br /> insurance coverage(ln the amount and for the pedod that Lender requlres)pmvided by an inaurer approvod by Leader
<br /> --�_ again becomes avallable and is obtained. Bonower shall pay the premiums required to maiataic► morcgage inaurance iu
<br /> -___ = effect, or to provlde a loss reserve, untll the requinment for mortgage insurance ends in accordance wlth any writtea
<br />-- -�-�--�•� agrceraent betwesn Borrower and Lender or applicabte 1aw. Form 30 S 9I80 fpeps p( I
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<br />- _ .t•:�� BANKERS SY67EM8,INC.,6T.CLOUD.MN6e90211�l00.397•4]411 FOHM MD•1d1E 71E97
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