|
� - . . , , . . , . ::+
<br /> - " . . < ,� _ . . . - ._ , � ' ' �s
<br /> .. _ , �t. , ,,. s , r " ' ' � . : .' , . � , � .� . ���.
<br /> . � . � __._ .�.� .
<br /> — � . . � . _ ,� , , . , . , � . � _.�-..:
<br /> _ , . �,�_
<br /> — , - r
<br /> . z .. .
<br /> ... . . � -� � � � � t�r.i�.
<br /> • < t
<br /> <` - -. ? _ ( e . ' . . ..
<br /> . . . ` '` ( ( � ' ����rvV�i .' � - ' r i,
<br /> . . iacIudmg fYaods os Qaodiag,for wLich L�rtes cequires iasuraaca.'t7�is iasuiaaoe shall be maintuned ia tfl'se amounts aad ..,�
<br /> � fos t6s periads tl�at L�der requiies.'The,iasataace c�rcer providiag the�ce sUall ise cYiasen by Borcowes sab�eet w
<br /> � , . Leader's appmval wLic,h sl�l ttot be�easonably witbheld. If Botrower faits to{uaintain cov�rage d�scn'bed above, . ' '
<br /> . . • Leuder may.at Irs�dePs optioa,obtaia coverage to p:atect Le,nde�s rig�ts in the Peope:ty in scoo:daace with pa�gisph , .
<br /> :. Z • , , �.
<br /> ` . • �- . AII iasa�aas�golicies�d teaewals sLal!be sseepiable to Iender ead shall�incl�e a stanstard mortgage clause. ' . .
<br /> '. ' Leader shall h�ve�s tipht to hoid tha golicies and reaewals. If Leader requi�a,Bosawer sT�all p�m�tly give to L�der . , •
<br /> - • ell receipts of paid gie�ums ead maewal nctice�Un the eveat of Ioss,Bn�rower shatl g�ve pmmpt nome to the iasmaace . �. ` , ' :
<br /> --�_-_ • � -t. .-�_=-'�: ==--.��'
<br /> : _ - _ . caaier and Irad�r.I.s�msy make��lass if nos msd�psomptly by Boriov�er. --. � _,_
<br /> . � Unless I�nder�d Eoaawer agrEe in writiag,insuranr,e mc�ds sLall 6e applied to iestoratiaa or air .,
<br /> tes �p
<br /> � � ; of @ee Propeaiy damaged.if t8e restoration or repair is ecuaomically feasi�Ie end I�ader's sec�ity is nat Ies�ed.If tbe .
<br /> _ . ' : cestoratioa or repair is not economicaIIy fessYb4e ar I�eader's secarity wantd 6e l�ssened.6ie insmaace proceeds sl�l b� .. ` �
<br /> . . applisd to tha sums sectued by 8iis�Seauity Ins�meat.wlietLer or sot then due.ariW any excess paid to Borrower. If
<br /> .- . . . � Boaower abaadbns t1�e Prapetty,or do�aot�swer within 30 days a nvfice&om I.�der thal•tbs inattease canrFer Bes . .. . . _ .
<br /> � � . . offesed w settte s eTaim,�tea Iender may collect the insuraace piocee�s.I�der may ose ths�pmceeds to re�sir or restote ` . � .� :. . :
<br /> . • tLe Pmperty os�ta pay su�sec�ued by tbis Secuiity Instrament,wbetker or not tl�dae.Tka 3Q-day pertod w�7t 6egin . � •. ..
<br />- ' � • wLen tLe nutice isg�v�. • . . • ; � .
<br /> • _ ` 4Jnless Leader aad Barmvrer sst�anv�ise agres in wrifiag.any Iirdtinn of pmceeds w principal sball not eateud or .
<br /> ' � �. , ' postpane the due date of the mnntblY PaYments iefecred to in para�s 1 aad 2 or chaage the amouat of the payments.If ' .
<br /> _ . * , vnater ps�agraph 21 the Psoperry is acqu�red by Lender.Bomower's nght w auy iu.aurance policies and proceeds�g ` . . .
<br /> . � fcam damape to the Property paor to the acquisitian sball pas5 w Lender to ttie extent of t1�e sums see�cned by this Se�auity . _ , ' '
<br /> . • � Iash�nt�diately prior to the scquisatioa � . '
<br /> , " , 6. �Capaneq, Yresesvatioa, Maintenanoe and PlrotecCioa of the �iroperty; Bornawer's i.aan Applicatio� ' .
<br /> . Leasehfllds.Borrower shall ac�upy.establish, end use tt�a Property as Borrawer's�pnaGipal zesideacc witisin sixty days � � '":..• '
<br /> � � � after the eaecuti�a of this Secuary Iastromeat and sbaU contmne to occ�y the Pm�erty as Bormwer's prmcipaI�escdeuce '<. " <• � :�
<br /> .. . � . for at les�t ane year aRea tlie date of oaupaacy.unleas Le�der othenvise ag�es�n wntwg,whir�onasent sLall noi 6e _ _ .,=;z�__
<br /> -- , , . . ..va�ea.�nabJywitiiheld;�orlmIess�exoeauatng cucum�acea�xistw6ich-arebeyoad-Bozsower's-coatrol.-Boriowers�silaot- --- -- �- - —��---- '• ���.-
<br /> . � . � � deshay.damage or impair the Prapestq.aliow the�Property to deterioiate.or commit waste on the Paopeity. Boitower ' - �
<br /> .�_.
<br /> � .' . . shall be in defanit if any forfeique actian or prucxeding.wliether civt�or caiminal,is begua that in Lender's good faid� . . .';;;��--
<br /> _ . ,'rydgment wntd �esalt ia for�eiwte of the,Property or othenvisa zwterially unpair the lien created lry this Security � � ;�;.?,�_
<br /> - � . - • Iasha�nt or Leud�'s s�mity gzut�st.Bomawer may aue snch a dsfmIt sad reinstate.as pmvided in puag�ph I8.by • ' '�Y
<br /> ` .. cxiusing the adion or.pmoeedin to be dismisged_v�nW a niling:tuat._iu Leader's good.faith determination, precludes._ _ .. �.� . . _
<br /> • forfeiture of tha Borrower s iaterest in the Property or other tnater�s3 ' t of the lie�created by this Seauity '
<br /> . �;�w.
<br /> . Instrumeat or Leader's seciuity iatecest.Bairower shall also 6e in dafanit if�er.durna�the lo�apphc�on pmcess. . , ' Y . .
<br /> . • �ave mnteiially false or inac�cauate infa�rnation or statemc,nts m Le.ader�ar fa�ed to�rovcde Leader with eny material . �����: :
<br /> ; mfosmation)ia ooanecxion with tha la�n avideared by tha Note.inciudiag,but not limit�w,represenmtions cancen�iang ����' �' '
<br /> � Bonuwer's occapancy of th$Pmperty as a priacipal resid�o�.If tbis Sec.vrity Jnstcuu�t is on a Ieasehold.Hflrrawer shall • ' .-4 ,.,� `
<br /> + ' comply with sU ths provisians of ths tease. If Homawer Aoc�cims fee titLa to the P'�nperty,the leasehold and the fee titIe . : :�.`.,:,;
<br /> - shall noi merge anless I.endes agras w the iaerger ia writing. � '��• F�p
<br /> � 7. ProL�nn of I.cudet'�s Rights m the Pt�nparty. If Boaower fuils to perform the covenants and ag�ments °ry t� .
<br /> Po
<br /> -�.. �. contained ia tbis 3eauity Inshoment, or theie is s Ieg�!p�ing,that may si�ai&cantly affect L.ender's rights m tha . � � ,,
<br /> �; �P�Y(sar]i as a p r o c e e d i n g in 6�p t c q.Pmhate.for oondemnation or forfe�du�or to wforce laws or t e g u latious), .::�� .
<br /> ,�t `_� . then I�der nofay do aad pay for whatever is necxssarq to�protect the value of the Property aad I.ender's ri is in We . -- - . i�-�; .� -
<br /> � Property. I�der's astions may include paying any sums secumd by a lien wlucL ha� priority over ttus�Secunty � ��
<br /> "3 Tncfn�*�.^.ti appeariag in coart.paym8 masonable attomeys' fee�a and enteriag on tha Praperty to make repaua AIthough � .
<br /> / � . � , • Lender may taYe actioa uader tlus pa�a b 7,Isnder does aot l�va tn do so. . . �:4 �''
<br /> : Any amounts disbu:sed by er aader this paragraph 7 s1�a11 become additionat debt of Borrower secured by Wis - � 'y'.. �
<br /> . Secmity Instrument.Unless Borrawer aad 1.ender agrea to other terms of payu�at,these amounts shall bear intazest from . , . 9�'.
<br /> � the date of disbutsemeut at the NMe rate aad shall 6e p sya6le, with interest, upon norice from Lendes to Barmwer , . .. ,
<br /> , . ��8 DaYmen� . .
<br /> 8.Mnrtgage� If Lender required moregage iasurance As a condirion of malciag the toan sewred by this .
<br /> . � Seauity lnsdument,Borrower sha11 pay tha premiuma required w maiataia tha mnrt�a�e;n��+��in effec�If,for any ' :�
<br /> - . r�asan, tl�e mortgaga insorance coveiage:nquired 6y I�er 6pses or ertse.a to be m effett. Bmrower sball.pay tice � �. . .
<br /> , . p:emiums neqoi:ed W o6taia coverags subshntially eqnivateat to the mortgage insmance previousiy in effect. at a cost � . ; . : '. �' ���
<br /> � . subsmntiaUy eqwvaleat to the cost w Borrower of tha mortgage iastu�r+cs previously in effect.from an altemate mortgage . . . ��,,.. '. '"
<br /> ' � insorer appmved by Lender.If sabstxatiallye�uva2ent mo�tgage insartrcca coverage is noi available,Bomnwer sl�all pay �
<br /> � to I.eader each montL a sum equal to on�twelftb of tha yearly mortgsge insuraaca premium being paid by Bormwer when . • . • ,
<br /> . Wa insvianca coveiage lapsed or ceased to ba ia effxt.Le,udes will accept,use and retain tLess payments as a Ioss reserve . .
<br /> � ia lieD of mortgege���.*++*�se.Los9 reserve payments may ao tonget 6e required. at We option of Leuder,if mortgage . .
<br /> ,z.,: , insurancs caversge(ia the amount aad for the pertod that Leader requires)provided by an insurer agproved by Leader .
<br /> agam becomes available aad is obteined. Boaower sb�11 pay the premiums required to maintain mortga�e iasurance in .
<br />'. }� � effert,or to pmvida a loss reserve, undl the requirement for mortgage insusaace ends in eccordance w�th any written •
<br /> � � � . • egree�enL betweea Borrower aad Lender or applicab28 Isw. Form 3 8 9/90 f�ago 3 16/
<br /> ..r /�1L ��, I .
<br /> ( • ' . B/WKEA9 SYSTEM9 INC..St.CIOUD.MN 6B90Z U-800�7oT•73111 iORM�A61t�lt T16A1 ,
<br /> •. - _ _ .• � - � .
<br /> . •;
<br /> .�
<br /> ' . J.
<br /> ' • , . �
<br /> _ ' . � �
<br /> �_ � � � . � . j �
<br /> . . ,. . .
<br /> � .
<br /> � � . .; �
<br /> ; � .. . �� F
<br /> � . � .
<br /> . «, � � . , �.
<br />-_�:� . :
<br /> _�.�.�. .. �. � � �
<br /> E � . ,.
<br />—--i �4-=- ------- , .._ . -.
<br /> - ' �;: .
<br />
|