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<br /> RE•RECORD� ' Y=•""'�"r'-.
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<br /> 98_�„���'t9�1 . ... ._.
<br /> 98-�,a�so4'� � y :
<br /> 9.Inspection. Lender or its agent may make reasonable enuies upon und iaepections of the Property. Lender shall
<br /> give B�rrower noticr,at the time of ur prior to an inspection specifying reasonable ceuse for the inspection. _
<br /> 10,Coademnation. The proceeds of any award or claitn for damages.dirat or consequential,in connection with
<br /> any condemnation or othe� tuking of any part of the Property, or For conveyancc in lieu of condemnation, are hereby
<br /> ass;gned and sball be paid tu Lender.
<br /> In thz event of a total taking of the Property, the proceeds shall be applied to the aums secured by this 5ecudty
<br /> lnstrument, whether or not then due, with any excess paid to Botrower. In the evcnt of a partial taking of the Aroperty in
<br /> • whicd the fair market value of the Property immedtately before the taking is ryunl to or greater than che amount of the
<br /> ' unless Borrower and Lender otherwise agree in
<br /> sum9 secured by this 5ecudty Instrument immediately before the takiag, °� � '�'_
<br /> -�w`" writing. the sums secured by this SecuritY Instrument shall he reduced by the amount of the proceeds multiplied by the :_ ., _ _
<br /> , "'A' following fracdon:(a)the total amount oi the sums secured immediutely before the taking,divlded by(b)the fair market ;, ,_,
<br /> value of the Property immedlately before the taking.Any balance shall be paid to 9onower.In the event of a partial taking °�;,�.--=__
<br /> of the Property in which the fair market value of the Property immediately before the takins is less than the amount of the _
<br /> sums secuted immediately before the teking, unless Borrower and I.ender otherwise asree in writin�or unless applicable ,_•>.�'�
<br /> law othenvise provides, the procxeds ahall be applled to the sums secured by this Securiry Iastrument whether or not the �; 'y•:-'._
<br /> sums are then duc. �
<br /> If the Property is abandoned by Bonower, or if, after notice by Lender to Borrower dtat the condemnor offers to ��.�__
<br /> mal:e an award or settle a claim for damages, Borrower fails to respond to L.ender within 30 days after the date the notice �,-_;
<br /> is given,Lender is suthorized to collect and apply the proceeds,a!its opdon, either to restoratlon or repair of the Property _
<br /> � or to the sum9 secured by this Securlty Instnu'nent,whether or not then due. �
<br /> � Ualess Lender and Bonower otherwise agree ia writing.anY aPPlication of proceeds to principal shall not eztend or ��•-
<br /> postpone the due date of the monthly paymenta refened to in paragraphs 1 and 2 or change the amount of such payments. �,
<br /> 11. Borrower Not Released; Forbearance By I.r.ader Not e Waiver.Extensioa of the tlme for payment or ;.�
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<br /> modificadon of amortization of the sums secured bY this Security Instniment granted by Lender to any successur in mterest
<br /> of Borrower shall not operate to release the liability.of the original Bonower or Borrower's successors in interest. L.ender
<br /> shall not be required to commence praceedings agatnst any successor in interest or refuse to extead time for payment or
<br /> otherwise madify amort�zation of the sums secured by this Security Instrurnent by reason of aay demand made by the ._
<br /> � original Banower or Borrower's successors in interest. Any forbeprance by Lender in exercisins any right or remedy shall
<br /> uot be a waiver of or preclude the exercise of any dght or remedy. +�
<br /> I2. Successors and Assigns Bound;Joint and Several LisbWty; Co-signers. The covraants and agreements of t
<br /> ,� thia Securlty Instrument sh�ll bind and benefit the successors and assigns of Lender and Borrower, subiect to the �.:_
<br /> , pravisioas of paragraph 17.Borrower's wvenants and agreements shall be�oint ond several. Any Bonawer w6o co-sjgns
<br /> � t h is Sec u r l ty I ns t r u m e n t b u t d o e s n o t e x e c u t e t h e N o t e: (a)i a c o-s i g n i n g this Securi ty Instrument only ta mortgage, grant E;.._
<br /> � and convey that Bonower's interest in the Property under the terms of this Security Instnunent; @) is not person a l ly =_
<br /> Abli gated to pa y the aums secured by this Securlty Instrun►enr, aad (c)agrees that Lender and any other Boaower may .�
<br /> agzee 2o e::iend. mo�ilfy, forbear or make anv accommalAtions wtth re8ar d to t be tem�s o f t h i s S e curit y Instrument or the =
<br /> � Note wlthout that Bonower's consent. -
<br /> p 13. I.oan Charges. If the loan secured by this Security Inatnunent is subject to a law which sets maximum loan
<br /> � chazges, and that law is finally interpreted so that the interest or ather loan charses co:lected or to be aollected in
<br /> �T connection with the loan exceed the pernutted limits, then: (a) any such loan charge shall be reduced by the amount
<br /> necessary to reduce the chazge ro the permitted limit;and(b) any sums already collected from Horrower which exceeded
<br /> pemiitted limits will be refunded to Bonower. Lender may choose to makc this refund by reducing the prtncipal owed —
<br /> under the Note or by making a dlrect paymeat to Bonower.If a refund reduces principal,the reduction wlll be treated as a
<br /> partial prepayment without any prepayment chazge under the Note.
<br /> 14. Nottces. Any notice to Boaower provlded for ia this Security Instrumeat shall be givea bv delivering it or by
<br /> m�ai(ing it by first class mail unless applicable law requires use of auother method. The not�ce sha�l be directed ro the
<br /> . Property Adlress or any other addtess Bonower designates by notice to Lender.Any notice to Lender shall be given by
<br /> � mpv ded for�ia�tlilseSecurityd�Instn men hall be d med o have been�v neto Bo owe oi Lender when given provided
<br /> in this paragraph.
<br /> ' �;� 15. Governing Law; SeverabWty. This Security Instn�ment shall be governed by federal law and the law of the
<br /> jurisdictton in which the Property is located. In the event that any provision or clause of this Security Instrument or the
<br /> � Note wnflicts with a�plicable law,such conflict shali not affect other provisions of this Securiry Instrument or the Note
<br /> ' which can be given etfcet without the conflicting provision. To this end the provisions of this Securiry Instrument and the `-_�_
<br /> ,� Note are declared to be severable. -_
<br /> 16.Borrower's Copy. Bonower shall be given one conformect wpy of the Note and of t}ds Sccuriry Instrument. �_
<br /> �' 17. TransPer of the I'roperty or a Beneficiel Interest in Borrower. If all or ar►y part of the l�roperty or any –
<br /> interest in it is sold or transferred(or if a beneficial interest in Borrower is sold or transfened and Borrower is not a __
<br /> ��. natural person)wlthout Lender's prior wrttten consent, Lender may,at its option,require lmmediate payment in full of all --
<br /> �. swns secured by this Security Instn�ment. However, this option shali not be exercised by Lender if exercise is prohibited _
<br /> • by federal law as of the date of this Security Instrument.
<br /> If Lender exercises this option, Lender shall give Bonower notice of acceleration.The notice shall provide a periud �
<br /> of not less than 30 days from the date the notice is delivered or mailed within which Bonower must pay all sums secured _
<br /> Form 3028 8/90 Ipage 4 0/61 =-
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<br /> BANKERSSVSTEMS,iNC-,ST_GLOUD.MN 6830211�800397•23411 FORM MD-1�NE 2/6�91 �J?
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