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<br /> '°"�,�'��'� lncluding floals or flooding, for which Lendet req�lres insurance. This insurance shall be maintained in tlie amounts and -
<br /> for the periods that Lender requires. Ths Insurance carcter providing the insurance shall be chosen by Borrower subjxt to
<br />-1 • � ��. i.ender's approval which shall not be unreasonably withheld. If Bonower fnils to maintain coverage described above,
<br /> L,ender may, at Lensler's option, obtain coverage to protect l.e»der's rights in the Praperty in eccordance wlth paragraph
<br /> .`k"' _`�:. �.
<br />"-"`�'� All insurance policies and renewals shall be acceptable to Lender and shall include a atandard mortgage clause.
<br /> � L.ender shnll have the right to hold thc pollcics and renewals.If L,encler requires, Dorrower shall prom�tly givc to l.ender _
<br />-:�, all roceipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to tl�e insurance
<br />__:,-_�--F� carrier and Lender.Irendot may make proof of loss if not made prompdy by Barrower.
<br /> ...rrr il Unless Lender and Bonower otherwise agree in writing, insur�nce proceeda shall be applied to restoration or repair
<br /> - of the Property damaged, lf the restoratlon or repair ls economically feasible and L.�nder's security is not lessened. If the
<br /> - restoration or repair is not economically feasible or l.ender's security would be lr,ssened, the insuranc:e proceecis shall be
<br />, r, � � appUed to the sums secured by this Security lnstrument, whetlier or not then due, with any eacess paid ta Borrower. If
<br /> ' Bonower aba�idons the Property, or dces not nnswer within 30 dayv a notice from Lender that tl�e inau�ance carrier has
<br />`,'�,..;�:, offered to settle a claim, then Lender may collxt the insiira�ice proceeds.l.ender may use the proccecls to rePair or restore
<br />="�4�y1:, the Propeny �r to pay sums secured by this Sauriry Instrument, whether or not then due. The 30-day per�od will begln
<br /> :�/r�,s£t: when the notice ie given.
<br />'=:�°=••�� Unless L�nder and Borrower othenvise agree in wrlting,any application of proceeds to principal shall not extend or
<br />`;��:��� postpone the due date of the monthly paymente tefened to in paragtaphs 1 �nnd 2 or change the atnount of the paymrnts. If -
<br /> `'�-�-�'h iinder pazagraph 21 the Property is acquired by Lender, Bonower's nght to any insurance policies and procacis resulting
<br /> -_�°�=-�,�• fmm damsge to the Property prior to t he acquisition s h a l l pass to L en der ro t h e e x t e n t o f t h e s u m s s e c u r e d b y t h i s S e c urit y
<br /> ."`=a't _ Instrument immediately pnor to thr,acquisition.
<br /> �' T�� 6. Occupancy, Yra;ervstion, MAintenance and Protectlon of the Property; BorroHer's LoAn Appllcation;
<br /> '._ ,tf:', .
<br /> .;�"--�-,,�, I,easeholds. Boaower shall occupy, establish, and use the Property as Borrower's pnncipal residence within s�aty days
<br /> ��:;� after thc exxution of this Security instrument and shall continue to occuFy the Property as BAn�wer's principal residence
<br />--�<��`�-.,�;�s,�. for at least one year after the date�f occupancy, unless Lender otherwtse agrees in w�ritin�, whieh consent shall not be
<br /> --_- unm.asonably withheld,or unle.ss extenuating circumstances exist which are beyond Borrower's contrui.Barrower shell not
<br /> �_',v���� destroy, damage or impair the Property, allow the Property to deteriorate, or cornmit waste ox►the Property. Bonowcr
<br />--- - shell be �n default if any forfeiture action or procceding, whether civil or crimival, is begun that in I.ender's goal faith
<br /> •::.�u�� judgment could nsult in forfeiture of the Property or otherwise materially impair the lien created by this Security
<br /> ���• Instcument or Lender's securuy interest. Borrower ma�r cure such a default and reinstate, as provided in paragraph 18, by
<br />--,�;��.
<br />-�,,,_� . causing the action or proceeding to be dismissed wuh a ruling that, in Lender's good faith determinatlon. procludes
<br />-=-r�t � forfeiture of the Borrower's interest in the Property nr other material imp aim�ent of the lien created by this Security
<br />:.f:-`.•h;`. , '. Instrument or l.ender's security interest.Bonower shall�lso be in default if Borrower,during the loan application process,
<br /> --���:�' gave materially false or inaccurate information or statements to I.cnder (or failed ta �rovide L.ender with any materlal
<br /> �-=L== informauuu} ui i;uAaiia.tlGi',t;%.i}f ifiC 10�.^.�YlLjP..^.���Jy It2P Nn[P; jncln�tine, bllt[IOL 11IIllt¢d[O,representations concerning
<br />-."'�'°'��� Borrower's occupancy of the Property as a principal iesid.ence. If this Security Instrument is on a leasehold,Borrower shall
<br /> —_ � com�ly with nll the provisions of the lease. If Borrower acquires fec title to tlie Property, the leasehold and ihe fee titic
<br /> � shall not merge�uiless Lender agrees to the merger in writing.
<br /> •.-�-�.-� 7, Protection of Lender's Rlghts in the Property. If Borrowcr fails to perform thc covenants and agrcements
<br /> -''"=�??� contained in this Security Instrument, or there is a legal procee�ling that may si�nificantly affect L.ender's rights in the
<br /> -�`�'-�`'Y°� Proporty(such as a procctiding in bankruptcy,probate, for condemnation or forfeiture or to enforce laws or regulatioi�s),
<br /> --Ax-��' thea Lender may do and pay for whatever is necessary to protect the value of the Property and Lender'A rights in the
<br /> �.n_��, property. Lender's actions may include paying any sumv secured by a lien which has priority over this Socunty
<br /> _ w,-�x�.� Instrument, ap �ng in wurt, �aying reasonablc attomeys'fees and entering oa the Property to make repairs. Although
<br /> _--:.,,�,s� Lender may�action under th�s pazagraPh 7,T.cnder dces not have to do so.
<br /> - - : pny amounts disbursod by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br /> --,.�� Security Instniment.Unless Bonower and Lender agree to other tern�s of payment,tliese amounts shall bear interest from
<br /> the date of disbursement at the Note rate and shall be payable, with Interest, upon notice from Lender to Borrower
<br /> ---_ _-..-,.__,� requesting payment.
<br /> _ ;,;�_,�� 8.Mdrtgage Insurance. If Lender required mortgage insurance as a condition of making the loan securod by this
<br /> _ Security lnstrunxnt, Borrower shall pay the premiums requued to maintain the mortgage insuranc� in effxt. If, for any
<br /> -�'-��'= reason. the mortgage insurance coverage requ�red by I.ender lapses or ceases to be in effect, Brrrower shali pay the
<br /> ,y;�� premiums required to obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost
<br />_s��� substantially equivalent to the wst to Bonower of the mortgage insurc+nce previously in effect,from an alternate mortgage
<br /> insurer approved by Lender. If substantially equivalent mortgage insurance wverage is not available,Barrower shall pay
<br />����,��� to Lendcr each month a sum equal to one-twelRh of the yearly mortgage insurance pre�nium being paid by Borrower when
<br /> �-�--��—�- the insurance coverage lapsed or ceased to be in effect. L,ender will accept, use and retaia these payments as a loss reserve
<br />= in lieu of mortgage insurance. Loss reserve payments may no longer be requlred, at the opdon of Lender, if mortgage
<br /> -�"°:�'�L�at'i insurana coverage (in the wnount and for the pedod that L.cnder requires) provided by an msurer approvod by Lender
<br /> ='�''-'�;�� again becomes available and is obtained. IIorrower shall pay the premiums required to maintain mortgage insurance in
<br /> �I�•�r� effect, or to provide a loss reserve, until the �requirement for mortgage insurance ends in accordance any written
<br />�;=�y;�'��x= agreement between Borrower and I.ender or applicable law. Form 3 s Ip e 1
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<br />�- ' .�F S`.' BMhCERS SYSTEMS,INC.,ST CLOVD.MN 69302 Il•800•997•29�11 FORM MD•1•NE 2(6/91
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