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<br /> incluJing flcx�ds nr flc���ding, for which Lxnd�r reyuires insurunc�. l�h�� msur�incc:�hn�e mnmuuneJ m th�xmuunt. �tuJ � _ - -
<br /> for thn prricxis that L,�nd�r rr,Nuir�s. Thn insuranc�currier providing th� insurnncC shull hC chutien hy Borruwcr,uh��ct tu
<br /> � L.Cndar'ti approval Which shsU not he unrrai�onxhly withhalJ, If Borrc�war fnils te� maintxin coveragr descnhC� ahc�ve. . • __
<br /> � I.Cnder may, at Ixndtr's option,obtain coverage to protect l.cnder's righlx �n thC Property in accc�rdancc with parxgrnph �,_j°--
<br /> 7. ; :_•:--
<br /> All insuranca: paliciati and ranawals shall bC acceptitbl� to I.ender Nnd shall includr a standarJ mortgag�clsusC. ..
<br /> l.�ndar tihall hav�the right to hold the policin,urtd renewals. If l.cnder reyuir�s, Borrownr shall promptly bivz to I.�nJCr � ,'„i:;_
<br /> all rr,ceipts of paid premiumc anJ rruewal nc�tices. In the event nf lo+z, Horre�wnr shxU bivr prompt notica to the insurance �
<br /> carrier and[xnder. Lender may maka proof of loss if not mxdr promptly by Borrower. _
<br /> Unless Lender and Bonower othrrwis�agreC in writing,tnsurancr procrx.d�shaU he appliecl to restorstion or r�pair
<br /> of the Property damug�d, if thc restoratian or rrpair is ec:onom�cally feasihle nnd Ixnder's,�curity is not la�,�nr,�l. If the �-
<br /> restoratian or �epair is not,economically f�;sible or Lender's sec:urity woulJ be Irssened, th�insuranec proc�dti shall 6e _
<br /> applied to the sums secured by this Security Instrument, whether or not then Jua, with any excess paid to Borrower. if
<br /> Bonower ahandons tha Proparty, or does not aatiwer within 30 days a notice from C.ender that thC iasuranc�carri�r has
<br /> off�rrd to settle a claim, then lxnder may eo1lrA:t the insurance proceecls. Lender may use the pracc;r,ds to rrpair or restarz
<br /> thz Property or to pay sums securecl by thts S�c:uriry latitrument, whether or nut tl�eu due. Tha 30-day p�nal will hegin _- -
<br /> , when the notice is given. __
<br /> Unless L.ender snd Borrower otharwise agreC in writing.any applicatic�n uf proceecis to principal shall not �xt�nd or
<br /> ; p o s t p o n e t h e d u e c l a t e o f t h e m o n t l�l y p a y m e n t s ro f c n e d to in para gra phs I xnd 2 or chan ge the amount of the payments. If
<br /> � under�aragraph 21 the Property is acqutreJ hy I.enJer, Bc�rrnwCr'.nght to any insurunce polici�and proc e e ds resu lting _
<br /> ' from JamagC to the Prop�rty prior to the acyuis�tion�haU pass to Lxnder to thr extent of the sums sr�:ured by this Security -
<br /> instrument imm�liatel prior to the ac uisipon. � ..=
<br /> �, 6. Occupancyy Pr�+ervuNun,NMuintenunce and Pirotection of the Property; Borrower's L.oan AppUcution; _
<br /> �• Leusehalds. Borrow�r shall cwcupy, ��tuhlish, KnJ utie th� Praparty�►s Borrowar's pnncipal resiJence within sixty ciays
<br /> aftrr the execution of this Sec;urity Instrument and shall continue to cx:cupy the Property as Borrower's principal r�.sid�nce --_
<br /> �� for at least one year after the clate of occupancy, unless Lxnder otherwt<e agrrxs in writing, which cons�nt shall not b�
<br /> unreusonably withheld,vr unless axtenuating circumstances exist which aro beyond Borrowrr's wntrol.Bnrrowar shall not
<br /> dCStroy. clamuge ur impair th� Property, aliow tht Property to deteriorate, or commit wast� on the Proparty. Borrower _
<br /> - shall be in dafauli ii any fo�icitura a�ti:,n or pra;::;uling. ::�hethes ci��il r,t rtimine(. i�hr.�+un that in Lender's goal faith �
<br /> judgment could r�sult in forfeiturr of the Property or otherwise mxtenally impair che licn crexted by this Security �
<br /> � lnstrument or Lxnd�r's security interest. Borcower muy curC such a drfault and reinstatz, as proviJecl in paragraph 18, by
<br /> ' cnusing the uction ar proce.:cling to ha di,missacl with a ruling that, in L.snder's good faith deternunation, prec:ludas
<br /> ,r forfeiture of the Borrower's inter�st in the Property or othrr mNt�rial impxirmant of thC lien cr�xtad by this Security c
<br /> Instrument or Lrnder's s�curity intera,t. Horrc�wzr shaU also t�in dofattlt if Borrower,Juring the loan application proc�.ss,
<br /> • gavz mxterially false or inaccurate information or statements to Lender(nr failed to provide Lend�r with any material
<br /> information) in conmc;tian with the loan evidCncr,cl by the Note. including, hut not limitr.d to, representxtions conc�rnin�� _
<br /> Borrower's occupancy of the Property Ns a principal rwsidencd.lf this Securiry Instrument is on a lea�hold. Borrower shall —
<br /> '- comply with all�he provisions of the lease. If Borrower xcyuir�s frx tiUe tc�the Property, the I�as�hold and the f� titla �
<br /> •" shall not mnrg�unle.ss I.�nJer agrees ta the mer�rr in writing.
<br /> '� 7. Proteclion of Lender's Ri�hts in the Property. If Borrower fails to parform tha covenxnts and abrrxmants E -
<br /> � containeci in this Srcurity Instrumcnt, or thero is a legal prcxeecling thAt may sign�ficsntly sffect I.xnder's rights in the
<br /> Property(such as a proc:eeding in bankruptcy, probate, for cond�mnation or forfeiture or to enforc� laws or rogulations),
<br /> � thrn Lender may do and pay far whatever is nec:essxry to protec:t the value of the Proprrty aad Ixnder's rights in the
<br /> property. L.�nd�r's actionc may includr paying xny sumx �u:ureel by ct lien which hus priority over thi� Sec:urity -
<br /> Instrument, appearing in court, paying reasonable sttorncys'fec:s xnJ entering on the Property to muke repairs. Althaugh _ .t�-
<br /> l.ender may take ac;tion unJcr this paragraph 7, l.ender d�»s not hxv�to do so. '` �
<br /> ' Any amounts Jisbursed hy Lender undzr this paragrxph 7 shall h�xome udditional Jeht of Borrower s�:ureJ by this `��___
<br /> , Security Instrument. Unlatis Borrower and I.ender agrer ta other terms of payment,th�.ce amounts,hall beur interest from ^�__ �
<br /> : tha Jate of disbursem�nt at the Note rate anJ shxll he payahle, with intarest, upon notice from [.ender to Horrow�r �_�N��u��
<br /> requesting pc►yment. �� `'"
<br /> 8.MortgaRe Insurunce. If lxnder reyuireJ inortgxgt insurunce as x condition of making the loan se�ur�ci by this J_i �,
<br /> Sec:urity Instrumtnt, Borrower�hall pay thc pramiums reyuued to mxininin the mortgxge insuranc� in�ffect. If,for any
<br /> reason. the mortgaHn insurxnce coverabe reyuirccl by L.cnJer lapses or cu�xes tc� he in effee:t, Borrowar shall pay the ���� _
<br /> : premiums royuirocl ro obtxin coverHge suhstxntiaUy eyuivalent to the mortbxge insurxnce previously in effi;ct. at a cc�st
<br /> ', substantielly r.yuivxlent to the cost to Borrower of the mortgnge insurxnc�previously in effect, from nn altcrnat� mortgage "': .'� ..
<br /> insurer Npproved By I.�nJer. If suhstantially eyuivalCnt mortgiibe insurance coveraga is not availnble, He�rrower shall pay i " r4::. ..
<br /> j to Lender exc:h mc�nth a sum equal tc�onr-twrlfth of the yearly mortgKge intiurance premium bcing paid by Borrow�r when `�
<br /> thc insuntncC coverxge lapsecl or ceased tc�he in effect. Lender wiU ae:cept, usu anJ retain th�sc paymentti xs n loss raserve "�'`�
<br />_ � in lieu of mortgxge insurance. Loss reserve payments mHy nv longer he reyuireJ, at the option of lxndrr, if mortgage •
<br /> , insurance a>veregc: (in the xmount KnJ for the period thxt L.ender reyuires) providr,cl by xn insure:r approv�d by Lender
<br /> �. xgain hecomGS evailahle and is ohtainecl. Borrc>wer �haU pay the premiumti rrMuirr,�l to mxintxin mortgabe insurance in
<br /> Cffect, or to proviJe x loss reserve, until the reyuirement for mortgxge insurunce ends in accordance with any written
<br />_ � x�re�ment hetween Barrower and L.enJer or xpplic�hle Ixw. Form 302 8 ngo 3 of i j
<br /> BANKERS SYST EMS,iHC..Si.CLOUO.MN 6G30711�D00•397�734 tl FORM MD�1�NE 7�5�91
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