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<br /> � including tlouds or flooding,for which Lender requires insutance. This insurance shall be maintaineA in the amounts and �
<br /> for the periais that Leader requires.'fhe insurance cazrier praviding We ins�srance shall be chosen by Borrowcr subject to } . _
<br /> Lender's appmval wbich shall not be uvreasonably withheid. IF Barrower faiLs to maintain coverage describc� atsove, i
<br /> Lender may. at Lender's option, obtain coverage to protect Lender's rights in the Props�rty in aornrdance wiW paragraph , •
<br /> 7 l ,. . . .
<br /> ,Ul insurance �mlicies and renewals shall be aoceptabie [o Lender and s�all include a standard mortgage clause. � ., _
<br /> Lender st2a11 have the right to hald the policies and renewals. If Lender requires. Botroaer shail promptly give tn ixnder . ,
<br />. all receipts of paid premiums and renewal notices. In We event of loss,Borrowep shall give prompt notice to the insurance � ,
<br /> carrier and Lender. Lender may make proof of loss if not made prompdy by Borrower. . .
<br /> Unless Lender and Bonower otherwise agree in writing,msurance praceeds shall be applied to restoration or repair � , � •
<br /> � of the Property damaged, if Ihe restoration or rep�tir is economically feasible and Lendei s seturity is not lessened. If the
<br /> ;i restoration or repair is not econcrmically feasible or I.ende+r's security would be lesseaed, the insurance proceeds shall be �, ` � '
<br /> �� applied to We sums secured by this Secvrity Instr�menG wheWer or not then due, with any eacess paid to Borrower. If
<br /> �� Borrower abandons We Praperty,or does not answer within 30 duys a notice from Lender that the insurance carrier has ,
<br /> .� offPre�!to srrtte a claim.then Lender may colled We ensurance proceeds.Lender may use the prooeeds to repair or resWre . � _ ��� a �
<br /> the Property or to pay s�uns secvred by Wis Se�rity Instmm�ent,wheth2r or not Wen due. The 30-day pe�iod arill begin � � �- �=-�
<br /> � when the norice is pven. ' � r��Y,
<br /> Unless Lender and Boaower othercwise agee in writing.any application of proceeds to principal shall not eatend or � . ; ��'v;;,"�,
<br /> ' p os t p one a�e due date of the montfily gayments referred to in paragr^�phs 1 and 2 or chamge�e amo�mt of the paymetnts.If . . � , -'
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<br /> under paraga-�ph 21 the Property is aflquired by Ix�nder,Borro�fer s right W any ins�ce�ao75aes t�nd proceeds resultin� ;:��'L,:�p.,. ;�.,-
<br /> from dama;:�o the Property prior to�e acquisidon shall pas�to I.��r to tiae exteut of t��se�s seciued by this Sacnrity . ���;``:y�;�.,.�,-
<br /> Inswment immediatety pscor to the acquisition. . .. '�`;;:.
<br /> 6. Uccupa�cy, �r3rservat�o�, Mainteaanre and Proteclion of the I��e4p; uPc�-��x's I.csan Appllcatton; ` _-�-. �`
<br /> ;:j,� �ae�.,�.Gr.'_:.
<br /> Leaseholds. Borrower sl�ail occupy. establish, and ase the Propert}+as Borro�-eer s princir,=..r�idence wit6in sixty days . . • ��:'.,;;,.: '`
<br /> afeer the execation of this Security fi3str�ent and shall oontinne to occQpy the Prop�ty as�rr�Rer's principal resid�tce , ;:.� .��y ,.
<br /> for at teast one year after We da�e r,:occupancy, uNess 1-ender otherwise agrees in writ��,�3�sch consent shall not be �.; �:, ;;.::;
<br /> unreasonably withheld,or unless extenuating circ�stances eust which are beyegd Borrawer's eontrol_Borrower shall not , . ., l, . �.:.
<br /> - destroy. damage or im��the Property, allow We Properiy to deterioraie, c�a wmmit wast$on We Prapeaty. Barrower . .. . ::�
<br /> s6a11 be in default if z�y farfeiwre action or proceeding, whether civil or cr��mal,is begun tHat in Lc�.�'s good faith � . .:�,�- ��-
<br /> judgment coWd resui: in forfeitiue of ihe Property or oWerarise materiaUy impair the tien creaied�`y r�s Secarity � �•;. � ---
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<br /> • Inswme�e cxr Lender's s�urity interes� Borrower may cvre sneh a�t„fault and reinstate,as provided in p�-agraph 18,�y ; r.�;
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<br /> causing t�:e �ion or pruc�ding to be dismissed wiW a r�fing t�, in Lendea's good fa:Ya determination. precl�*,� . . - . �, •
<br /> forfeiture of ti� Borrau-�'s interesi in the Propzrty or other material impairment of We '�� creat�d by Wis Se�uity 'u ,•". .� ,c:�r',,'',�" .
<br /> Tnsdnmient or Lender's sa,.-�ity interest Boirower shall also be in default if Ba�auwer,daring the loan appGcation process, ._ -=r�� ,�F i�
<br /> gave mazeriaily false c�r�accan'ate information or stat�eats to Lender(or fail�w provide Lender wit0 any maierial � `;;�' ' �.�.f�� ;
<br /> .� information>in conneaic�r:Rii3 the loan evidenced by the Note,inctnding,t�ut noi timited to.representations conceming •:.- r� ' � .j_. ..;�: ''
<br /> Borrower's occvpaacy of We Property as a principal residence.If this Sec�ity Imsa��eet ns�n a leasehold,�oaowea shall .;�+�� i:. ,�
<br />-''-` comply with all the provisions of tt�e lease. If Borrower acqnires fee tifle to the Property. �z Ieasehold and We fee tide ���.:.:•: :,_
<br /> shall not merge imless I.ender agrces t�the merger in writing. �i% � �•;
<br /> 7. ProteAlon of Lender's R�hts in the Property. If Boaower fails e3 peafortn the cavenants and a eats . '�� �`•!�`�':;� •'
<br /> contained in this Security Instrument, or there is a legal procceding that maF- s,;-nificantly affect Lender's si ts in the ,. -
<br />� Property+(such as a praceeding in bankrupuy,probate,for condemnation or for•P�pue or to enforce laws�r o�s), r , � � ' _ -;t�;,�
<br /> gegulati �,;r �: � .
<br /> then Lender may do and pay for whatever is necessary to protect t�e vah:��F the Property and Lender's rights in t�z . -�-�+ �,,� ,
<br /> - Property. Lender's actions may include paying any sva�s serc�� by a L=� whicb has prioriry over this Securi+� '" .'`i'l� �; �:
<br /> lnswment,appearing in court, paying reasonable atta�neys' fees aid eateri^�on the Property to make repairs.A1Wougb �,��;s _
<br /> Lender may take action under t6is paragraph 7.Lender does aot dave to do scr. .. ; •,rrr . ':�=-
<br /> Any amaimts d'ulmsrsed by Lender nnder this para�raph 7 shall beco��a9:ditional debi of Bortowa secvred by Wis "' f':�o►--
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<br /> Secarlty Iastrument. Unless Borrowu and Lender agree to oWer terms of pay�t,these amounts shaA bear interest from �'•�,�:�'.
<br /> • the date of disbursement at the Note rate and shall be payable. with interest, apon notice from Leadet to Borrower � ��__,:
<br /> requesting payment. � ;,� •_
<br /> 8.Mortgage Insnrance. If Lender required mortgage insurance as a wndit�on of making We loan secured by Wis ,- ,.,;�{ .�
<br />' Secudty Instrument.Barrower shall pay We premiums required to maintain the mortgage inswance in effect. If,for any r -
<br /> � reason, We mortgage insu�aztce ooverage requ�red by Lead� lapses or ceases to be ia effe�, Borrowea s6all pay the �y,;,.��,T�
<br /> pre�inm.s req u i r e d t o o b t a in wv e r a g e s a b s t�t i a U y e quivalent to 1he mon ga ge insnrance p revionsl y in�'�ct, at a oost �'�� --.�-._
<br /> substandally equivalent to We oost to Borroaer of the mortgage insurance previonsly in effect,from an�lteraate martgage '�"`��'� � -
<br /> ' insurer appraveA by Lender.If substantiallyequivaleat martgage insivance coverage�s not available. Baaower shall pay '.��' ' •
<br /> to Lxnder each mont6 a sam equal to one-twelith of the yea�rly mongage insuranoe preminm being pa�d by Borrovrer when =---
<br /> the insurance coverage lapsed or ceased to be in effect.Lender will accept,use and retain these payments as a loss�eserve '"` �' �"F-�'-"'�_�''=
<br /> in lieu of mongage insurance. Loss reserve payments may no longer be required,at We aption of Lender, if mostgage .:.��? -_•
<br /> insuranoe ooverage(in the amo�t and for the period that Lender requires)provtded by an insur�approved by Lender , . . ��"-"`
<br /> ._��::�:,nr,..'.:
<br />� again becomes available and is obtained. Borrower shall pay the premiums requlred to maintain mortgage insurance in ' . _ _°�--=�L;
<br /> effect, or to provide a loss reserve, until the requirement for mortgage insurance ends in acoordanoe with any arrltten : +•�ti��� �.'�=. - =-���
<br /> agreement between Borrower and Lender or applicable law. Fam 8028 919�fpage o16J �`���� ��1�r
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<br />� BANKERS SV9TFM9,INC.,ST.CLOUD,MN 5830Z It•800397•23�U FOAM M61•NE 7/5f91 �_ -•` ��+�''�""'�-�0�`
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