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<br /> 5, 6iuzurd or Property Insuranca firnrowcr sh.�ll kccp thN improvemcnts now cxisling vn c�rcuftcr crcctcd o�i ti�c
<br /> Prnpe�7y insured agninst loss t�y�rc,I�arar�l�include�wizhin thc tcnn"cxtcndcd covcraigc•"nr,d nny othcr hnzm•ds,including
<br /> (loods or floodin�,foe which l.c:ndcr rcquin:s in.uruncc. This insurancc shall hc maint.dned in thc a►nountti nnd for thc
<br /> �rhn.t�thut Lender r�quir�s.Tho in,ur,uice carrier prc�viding the:nsuronce Shi�ll he ch�t�en hy Eior�•ower subject tu l.encter's
<br /> appravid whirh sh;�ll nut lse unrcusonably withhcld.!f Aarrower fmis to mnlntiiin covcruge dcscribed ntwvc, L.cnder mny,+u
<br /> I.�:nde►-�h U�t1Ui1,Ob(Ulp CUVC1'agc(0 NI'ulCCl LCUtIC1'�:;riyht�;in tlic eroQerty in accordancc witl�par.��;raph 7. ,
<br />� /��� intiUG111CC�30�1C�1'ti Atld 1'CIICWUIS ShAll UC [ICCCp[lld[C IO L+CtlUCi'i1I1Q tilIRII Ilil'IQUC 7l 1iitltttUtu �H�nigu�c�itttiac.
<br /> L.endcr shull havc the right to hold thc Nolicics and rencwiil.s.If Lendcr rcytdres,Bunuwcr shull promptly givc to l.cndcr nll
<br /> roceipts of paid premiums nnd renewal noeices. In the event of loss, Bon•owe�•shnll 6ive prompt natice to th� intiuri�ncc
<br /> currier uncl Lender.l..ender may muke proof�f luss if not mude promptly by Barrowcr.
<br /> Unless Lcnder and Dorrowcr otherwise ngree in�vriting,insurnnce proceeds shall be uppltcd to resroriition or rcpuir
<br /> of the Prupeny damaged,if the restoratioo or��epair is economically feusible and Lender'ti securiry is not lessened. If the
<br /> restorution or repair is not cconomicnlly fca�iblr,or (.ensicr's secunty would be lcssened,slie insuruncc prc�cecds shnll be
<br /> app)+°d m the sums securcd b�r this Security Instrumm�t, whether or nat the»due, with�ny exces; paid to gorrower. If
<br /> 8arrowcr abandons the Property, or dces not unswer within 3�days a notice from Lcnder that the insurnncc canier iias
<br /> offered to sett�e p ctnim,then Lender ma�collect(he insurance profeeds.L.ender muy use tha pr�ceeds to��►air or restore
<br /> thc Propc;rty or to pay sums sc'curcd by th�s Sccurity Instrumcnt,whether or not thcn due.Tlie 30-day'period will begiu whcn
<br /> the uoticc is givcn.
<br /> Unless l.ender and Barrower utherwise agree in writing,any application of proceeds to principal shall not extend or
<br /> postpone the due datc of the monthly payments referred to in paragraphs 1 urtd 2 or ch:►nge the nmount of the paymenis.If
<br /> under pam�r�ph 21 the Pro�ert�is ar,��uired hy l.ender.BorrnwePs righ[ro any insurance policies und pr�:eed,resulting _
<br /> from damcige to the Proparty prior to die ucquisitian shall pass to l.ender to the extent of the sums secured by this Security
<br /> instrument immediately prior to the ucquisitinn.
<br /> 6. Occu�ancy, Preservation, Maintenance nnd Protection of the Property;Borrower's Loan Applica@ton;
<br /> Le�.sehold�. Horrower shall occupy,establish,and use the Propc��ty as Horrow�r's principal residence within sixty duys
<br /> after the execution of this Security Instrument and shall continue to occupy the Propeny as Borcower's principnl resIdence
<br /> for at icust one ye�r after the date of occupancy,unless Lender otherwise agrces in writinr,,which consent sliall not be
<br /> unreason�bly v�itt►hcld,or unless cxtenuating circumstances exist which ure beyond Horrower's control.Bonower shnll not
<br /> dcstroy,damuge or impuir the Property,allow the Property to deteriorate,or commit wastc on the Prope�ty. BorroweP sh�ifl
<br /> be in deflult if nny forfciturc action or proceeding,whether civil or criminal,is begun that in I.ender's good fAith judgmcnt
<br /> could result in forfeitu�c of the Property or othcrwise materiully impair the lien creuted by this Sccurity [nst�ument or
<br /> t.ender's security intenest.Borrower mny cure such a def:►ult and reinst�te,as provided in paragr,�ph 18,by causing the nction
<br /> or proceedin�to be dismissesl with a ruling thut,in I.endcr's gaxi faith determ�nation,precludes forfciture of the Borrower's
<br /> inte�est in the P�onerty �r other materia! imp�irment of the lien crcated by this 5ecunty Instrument or l.ender's secarity
<br /> interest. �iorrower shall nlso be in default if Borrower,during the loan application p��cess,gave materially false or
<br /> inaccurate information or statcments to I.c7der(or ffliled tu providC 1..�nder with uny materinl information)in connection
<br /> with the loan evideneed by ths Note,including,but not limited ta,representutions concemin�z Borrower's occupancy of the
<br /> Property as a principal residence.lf this Securiry Instrumcnt is on a lcaschold,Borrowcr shall comply with a!I the provisioiis
<br /> af thc lcase.!f Borcower acquires fec titic to the Property,the lcasehold and the fee titic shall not merge unless Lender wgrecs
<br /> to the mergcr in writing.
<br /> 7. Protcction ot l.ender'9 Rights In thc Property. If Burcower fAils to perform the covenants and agreements
<br /> ' contained in this Securiry Instrument,or there is a fegal procceding that muy signi�candy affect Lender's rightti in.the
<br /> Proprrty(such as a proceeding in bankruptcy,prob;ite,for condemnation or forfeiture or to enforce laws or regulations),then
<br /> _ Lender muy do and pay for whotever is necessury to proteet the yiduc of the Pr�perty and Lender's right�in the Property.
<br /> : l.ender's uctions may include paying any sums sccured by n licn which has priority over this Security Instrument,aE��armg
<br /> in court,paying rcasonuble i�ttomeys'fces and enseeing os�thc Propc:rty to makc repai�s.Although Lcnder mny tnke nction
<br /> under this paragr.►ph 7,L.ender docs not have to do so. ,
<br /> Any amounts di�bursed by L.ender under this paragraph 7 shall tmcomc additional dsbt of Borrower securcd by tliis
<br /> Securit��Instrument.Unless i3orrowcr und Lender agrec to other tem�s of paymcnt,these amounts shaU bcar interest from the
<br /> date of disbur.semcnt at thc Note rate and shnq be payable,�v►th ir.tcrest,upon noticc from L.cndcr to 6oa�owc�rcquesting
<br /> • paymcnt.
<br /> 8, Mortgage Insurs►nce. If i.�nder requi�ed mortgnge insurance as a condition of making tlie loan secured by this
<br /> Security Instmment,Borrower shall pay the premiums reyuired to maintain the mortgage insurance in effect.It;.fRr any n;nson,
<br /> • the monga�e insurance covcr.�ge requi�eci by Lcndcr lapscs or ccases to bc In cffcct,Borrower shall pay the preiniums required
<br /> . to obtain coverage subsrantiuiiy cyui�:�t���►t�t!-�:���o,.gag�insurar,c�prcvioasl�9n effc:.t,:.;�wst sabss;:it:::lly�e�.��e�elen►.to
<br /> the cost to Borrc,wer of the mortgage fnsur.uue previously in effect from am altemate mortgage insurer approved by Lender.If
<br /> subseafitiuliy cquivalent mongage insurance cover,i�e is not availab�e.Borroever shall puy to Lendsr each montti a sum equal to
<br /> one-twelfth of the yearly mortgage insurance prem�um bc;ing paid by Borrower when the insurance coverage lapsed or ceaserl
<br /> ; tu be in effect.Lender tivill accept,use and retain theu�payments as u loss reserve in lieu of mongage insurance.lass reserve
<br /> paymcnts may no longer bc rcyuired,at the option of L.encicr,if mortgage insur;uice covcrage(in the ainount and for thc periocl
<br /> ' FOrt11302t O100/PoRr 3 of 6 pa�ral
<br /> ; 6ANKERSSYS7cM$,INC..Si.CLOUD,MN 6G302(1•000•397-23�t)FORMMD•1•NE?15l31 �� �� ._.
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