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<br /> - �, iacluding ftoods or ftaoding.foT wItich Lende[iequites instll8nce. �is incn*ancg�j be maintain���e am�wlis and Y •
<br /> . ,+ . far the peaads that Lender requites.'[he insvrance carrier providia�G the insurance shall be chosen by Borrower subjecx to ' .
<br /> L�ender's appmval which shall not be unreasonably withheld. lf Borrower fails to maiIItain w�erage described abflve. , ,
<br /> • L,ender may,at Lender's option.obtain coverage to pmtect lxnder's rights in the Property in accordance with paragraph ' .
<br /> . . 7, ,
<br /> . All iasurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clanse. � � .
<br /> � . - Lender shall have the right to hold the policies and renewats.If[xnder requires.Borrower shaU promptly give to Lender �
<br />- , • all receipu of paid p*�++n±**�and renewal notices.In the event of loss.Borrower sflall give proa�t aotice to the insurance -.. ,. ,
<br /> carrier aad l.ender.Lender may make pmof of loss if not made prompdy by Borrower. .
<br /> ' � Unless Lender and Bormwer otiterwise agree in writing,msurance proceeds shall be applied to restoration or repair , -_ - -- :,
<br /> , -�:. .` —:-: of the Pmperty amaaed. it'the sestorarioa or repair is economically feasible and I,ender's�ecurity is not lesseuaL ff the -,-
<br /> ` . ' , � restoration or reQair is not eoonomically feasible or Leader's securiry would be lessened,II1C incnran�praoeeds shall be � �,
<br /> �. • applied to the sums sec�ued by this Securiry dnsuumeat, whether or not thea due.with any excess paid to Borrower. If � '`
<br /> - � � Borrower abaadons the Property, or does not ansa+er withia 30 days a notice from Lender that thc insurance carrier has � `�.�
<br /> � , ' offeied to seule a claun.then L�der may collect the insvrance procceds.i.ender may use the pmceeds to re�air or�store _...._ ` , _t `.
<br />-�� • �� the Property or w pay sumS sec�ued by tBis Security Inst�ument,whether or not then due.The 30-day penod will begin - - `• .
<br />�:!� . � when the notice is grven. �. `�-��<., <<'.'.,�,, .
<br /> UnIess Leader and Borrower othernise agrce in writing,asy application of proceeds to principal shaU not exu�nd or � , r
<br /> - ' postpone the due date of the mnntiily paym�ts referred m in paragraphs 1 and 2 or change the amount of We paymenu.If � -` -_
<br /> � � uader paragtaph 21 the Property is acquired by Leader,Borrower's right to any insurance policies and proceeds resulting �. ,( -��'°: ,�
<br /> ara a
<br /> , � from damage w the Property prior to the acquisitioa shall pass to Lender to the extent of the sums secured by this Security , ` :.•.���=
<br /> ;�`.� . Insuument immediately prior to the acquisiuon. . ; • '.::�•:r_
<br /> ` • • 6. Occupancy, Pres�vat�on, Maintenance and Protedion of the Property; Borrow�'s Loan ApplIc�ttoa; ' __-
<br /> '�' � • . Lease�olds.Borrower shall acc�py,establish, and use the Property as Borrower's priacipal residence wiWin siaty days .�.. -
<br /> after the exautioa of this Security Inst�ument and shall continue to occupy the Property as Borrower's principal residence � -
<br /> �.i. , ' • � for at least one yeat after the daze of occapancy,untess I.ender othern+ise agrees in writing, wluch consent shall not be , �„�,--
<br /> ;:; :� nnreasonably withheld,or unless exteuoating cir�vmstaaces exist wluch are beyond Bonower's contml.Borrower shall not � • , t a._�
<br /> �: . desuoy. damage or mapair ihe Propest}r, allow the Property to deteriorate,or commii waste on the Pmpecty. Borrower . :..',�. '':�.:�_r
<br /> ma
<br /> ' sbaU be in default if any farfeiture acuon or procxeding,whether civil or criminal,is begun that in Lender's gaod faith .. . � '�-�
<br /> ,' V�, judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Secarity :. ` ". •��.._
<br /> ,.: �..>,.:
<br /> Insuument or Lender's seauity interest. Borrower may cure such a default and reinstate,as provided ia paragraph 18,by • —
<br /> , ,.Y'`.._._
<br /> � causing the actioa or proceeding to be dismissed with a niling that, in Lender's good faith determination, precludes L
<br /> � forfeiture of the Bo:rower's interest w the Property or other material impaitment of the lien cieated by this Security -
<br /> `- - �:.-� insmm�ent or Leader's security interest.Boaower sha11 also be in defautt if Bormwer.daring the toaa agplication pracess. .. --- -
<br />:_'',L� ' � �ave materially false or inaccurate information or statements to Lender(or failed to�rovide Leader with any material
<br /> � � . ..t m formation)in comi e c t ion wi t h t he lo a n e v i d e n c e d b y t h e N o t e,i n c l u d i n g,b u t n o t l i m�t e d w, c e p r e sen t ations conceming -� �.
<br /> ��``• . ;� Bonower's oc.cupancy of the Property as a principal res�dence.If this Security Instrument is on a leasehold,Bo:rower a h a ll .: _�---
<br /> ,'< , comply vvitb all the provisions of the lease. If Borrower fee tide to the Pro "�`'�
<br /> acquires perty,the leasehold and the fee title
<br /> • shall not merge uNess I.ender agrees to the merger in writing. , "
<br /> ,:��' 7. Protert�on of Y.�des's Rights In t6e Property. If Borrower fails to perform the covenants and agreements � i.,
<br /> ' . � contaiaed ln this Security Insaument, or there is a legal proceeding that may sigmfrcantly affetx L,ender's rights in the ' :"'g�"
<br /> - � Property(such as a proceeding in bac�lmiptcy,prabate, for condemnatIon or forfeiture or to enforce laws or regulations), _-
<br /> . . . � rt � . .. _--
<br /> then Lender m a y do and pay far whatever is necessary to protect the value af the Property aad Lender's rights ia the �
<br /> .. Property. Lender's acxions may include paying any sums se�vred by a lien which has prionty over this Secuny , ''�z.
<br /> � Insunment.apPeazinS in court,PaYinS reasonable attomeys'fees and entering an the Pmperty to make repaus.Although __ ..``�--�-"-
<br /> Lender may take action under this paragraph 7,Lender does not have to do so. � � .x.,:-
<br /> � ' Any amounts disbursed by Lender under ttris paragraph 7 shall became additional debt of Borrower sec�ued by this . ".'F:;
<br /> Security Ynsuument.Ualess Borrower and l.e�der agree to other termc of payment,these amounts shall bear interest from .
<br /> the date of disbursement at the Note rate and shall be payable, wlth interest. upon notice from Lender to Boirower . . ��• '�':
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<br /> .; requesting payment. . .. ;:_�-
<br />' ��:` . . , S.Mortgage Insurance. If Lender required mortgage insvrance as a wndition of making the loan secured by this '� �.�-
<br /> : ' Secvrity Instrument,Borrower shall pay the premiums reqwred to maintain the mortga�e insurance m effect. If, for auy • .�..;;�.j"'
<br /> ' . reason, the mortgage insutance coverage requued by Lender lapses or ceases to be m effect, Boaower shall,pay the . :. :...:
<br />';" . premiim�s required to obtain coverage substantially equivalent w the mortgage insurance previoasly in effect. at a cost . _
<br /> ':: , :�� substantially equivalent to the cost to Boaower of the mortgage insurance previously in effect.from an altemate mortgage :.,.:,,
<br /> � . , insurer approved by Leader. tf substantiallyequrvalent mortgage instuance wverage is not available,Bosower shall pay �. ��� ': ;�'.`�.;
<br /> �;., � to Lender each month a sum equal[o one-twelfth of the yearly mortgage insuraace premium being paid by Borrower when � . , ,
<br /> :' .� the Insurance coverage lapsed or ceased to be in effect.Lender will accept,use and retain these payments as a loss reserve : � . . •
<br /> in lieu of mortgage insvrance. Loss reserve payments may no longer be required,at We opiion of I.ender. if morigage
<br /> • . insurance coverage(in the amount and for the period that Lender requires)provided by an insurer approved by Lender ' ' _
<br /> again becomes available and is obtaiued. Bonower shall pay the prem�ums required to maintain mortgage insurance in , , .
<br /> ' � � ' effect, or to provide a loss reserve. until the requirement for mortgage insurance ends in accordance wlth my written � , , . '
<br /> " ' ageement between Borrower and Lender or applicable law. Form 3028 9190 Ipage 3 0!6l �
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<br />. BANKEiiS Sv57EM5,INC.,ST.CLOUO.MN 68302 11�800-39743411 iOHM MD�7�NE 2/5/97 �. � ' ' � .-- .
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