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<br /> : .` � • �; 9.InspecHoa Lender or its agent may make�asoaable entries upon and inspections of the Property. I.ender shall '. t • - •
<br /> . � give Borrower notice az the rime of or prior to an inspection specifying reasonable cause for the inspeexion. , , � ,
<br /> _ I 10.Cond�nation. 'Ihe pmcceds of aay awand or claim for damages.direct or conseq�enual,in conn�ioa widi .
<br /> ,�<:• any condemmation or other takiag of any part of the Property, or for conveyance ia lieu of candemnation. are�terebY . � ,
<br /> . � ,• assigned and shall be paid w I�ader. , . .. _
<br /> . � ` Ia the eveut of a mtal taking of the Property. the gmceeds shali be applied to the sums secured bY this Secvrit3+ . . ;,
<br /> ... ` � (nsuument,whether or not tLen due.with any e�ccess pa�d to Hottower.In the event of a partia!taking of the Properg�in �.. . .
<br /> .. .t which the fair market value of tfle Pmperty;*+,*+,�t;ArPty 6efore the taking is equal w or gmater than the amount of the .`'` '
<br /> ' � - � sums secvred by this Secvrity Insorument immediately before thet�ang,untess Borcuwer and Lender otherwise agree in _: .
<br /> J�r� writing, the sums sewred by this Securit�+ �ment sh211 be reduced by the amntmt of the�mceeds multiplied by the z,_.
<br /> - �-'- ---- foliowmg fraction:(aj the total amfluni of the sams sec�ued immediatdy before the taking,divided by N)the fair market �.-_—'__.=,-,-�—�-
<br /> � value of the Pro�erty immediately before the taking.Any balance shall he paid to Hormwer.In the event of a partial taidng ,
<br /> ' of the Property m wIuch the fair marlcet value of the P�roperty immediately before the taking is less than the amount of the � � . .,<�.:
<br /> � ' sums secured i*��t:�y before the taking,anless Bomnwer and L.ender osheiwise agrce m writing or unless applicab2e .:�
<br /> � law athecwise pmvides,the pmceeds shaIl be appliecl to the sums secured by this 5ecurity Insuament whether or uot the �• f`� .
<br /> � � sums are then due. - - , �
<br /> • � If the Property is abandoned by Bonower,or if,after notice by Lender to Borrower that the condemnor offe�to
<br /> .. make an award or seule a claim for damages,Boaower fails to res�ond to L�ender within 3Q days after the date the norice - . '.-�_•-
<br /> is given,Lender is�rthorized to oollect aad aFPIY�P�+at tts option,either to reswratioa or cepair of the Property . �.-�::..
<br /> � ' or w the smns secured By this Security insm��±*,wheiher or not then due. , ,r.,:�c,',�_
<br /> Unless Lender and Borrower otherwise agcee in writing,aaY aPPlic�tio�of pmexeds w principal shall not extend or , .. .�
<br />- . Pustpone the dne date of the monthlY PaYm�ts referred to in paragraphs 1 and 2 or ct�ange the an¢auni of such payments. . ':.�_=:
<br /> _ ' 1 1. Borrower Not R Q l e a s e d; Fo r bearance By I.e a d e r N o t a W a i v e r. E x t e n s i o n o f the time for pa y m e n t or _ __
<br /> mndification of amortization of the sams s�by this Sacuriy Lstn�ment gr�►ted by Lender to any successor in iaterest ; • ;;`.����-
<br /> � of Borrower shall not opezate to ielease the tiab�ity of the orig�nal Bormwer or Bormwer's successocs in inrer�st.I.ender , . �=_-
<br /> ` sball not be r e q�e d ta commence pmceedings agaznst aay succ�sor in inteiest or refiue to extend time for p�a m e n t or . . ��' �'.,�:
<br /> . . h otherarise modify amortization of t h e sums secured hy this Seauity �ment }��IebSOn of wy dem2nd by the • :°•°—
<br />. :� o:iginal Borrower or Borrower's successors in interes�AaY forheatance by Lender tn exercising any right or remedy shall .
<br /> � :�
<br />- � � aot be a waiver of or pieciade the exercise of any right or rem�dy. �.=--�` � �'�`•`�`"
<br /> .{ 12. Succe�ors and Assigns Bound;Joint aad Several LiabiHty;Co-signers. The wvenants and agreements of , �'�.�._
<br /> . �i. this Security Insuwnent shall bind and benefit the successors and assigas of Leader and Horrower, subl'ect to the . '_ . �:��'�=__
<br /> rovisions of aragraph 17.Borrower's covenants and ts shall be joi�and several.My Bormwer who co-signs ' � ��
<br /> P P aS�� � �:=�����
<br /> . ,_ • this Security Insaument bnt daes not execute the Note:(a)is co-signing this Security Insuument only to mortgage,grant a ts:;;�„_
<br /> ' - : � and convey ttiat Borrower's intecest in the Propeecy auder the temLV of this Security Instrument; (b) is not pecsonallY _..` -=.��-=�'`
<br /> ta �
<br /> .'� obligated to pay the sums secured by tt�s Security Ipstrument; and(c)agrees that l.ender and any other Borrower may - � '�=
<br /> � agee to extend,madify,forbear or make auy accommodations with regard to the terms of this Secvrity ,me-^-*or the ' ' Y � •=- -
<br /> ; • � � 1�I o t e without that Bomuwer's consent. �rT�>.:_
<br /> ; ' 13. Loan Chargc4. If the loan seaued by this Secauity Insaument is subject to a law wbich sets ma�rimum loan =---
<br /> _ ' charges, and that law is finally interpreted so that the iatecest or other loan charges coUected or to be wllected in . � _-
<br /> • co�eccioa with the loan exceed We permitted limits. then: (a) any such loan charge shall be reduced by the amount • _ _—
<br /> � , neo�sary to reduce the charge to the permiued limit;and(U)anY sums already collected from Borrower wluch ext�eded �.; �,�'�,;r.°
<br /> ,. , perffiued limits will be refunded to Boaower. Lender may choose to make this refund by reducing the principal owed ^-�'+"`-
<br /> . nnder the Note or by making a direct payment to Bonower.If a refund reduces principal,the reduction wi116e treated as a ..;,t... .�;'�
<br /> . . : P�PrePayment w�thout aaY PrePayment charge uader the Note. . `.• :;-':s
<br /> � 14.Not�ces. Aay aotice to Horrower provided for in chis Security Instniment shaU be givea�b�delivering it or by .. •::-�,�,
<br /> � • , mailing it bq first class mail unless applicable 1aw requires use of another method. 'Ihe aouce sha11 be directed to the . � ,, �j,__
<br /> � � Property Adiress or any other address Borrower designates by notice to Lender. Any nodce to Lender shall be glven by • � ;;,.-..,3�
<br /> . fust class mail to Leader's address stated herein or any other address l.ender designates by notice to Borrower.Any noGce ;•_,,�__ .;:.
<br /> � Qmvided for in this Seeurity in +m t shall be deemed to have been given to Borrower or Lender when given as provlded � : '�,`-x a�
<br /> •,� in this paragraph. �!
<br /> . -�.�,
<br /> 15. Governing Law;Sevesability. This Security Instrument shall be govemed by federal law and the law of the . ___
<br /> `.; '� urisdiction in which the Property is located. In the eveat that any provisioa or clause of this Security It�strumeat or the , . ��=
<br /> �ote conllicts with ap licable law.such conflict shall not affect other provisions of this Security Instrument or the Note ..'�-
<br /> which can 6e given e�ect a+ithout the coaflicting pmvision.To this end the pmvisions of this Security in�*+�ment and the __
<br /> '�,:, " � Note are declared to be severable. _ _ , � _;�
<br /> �. . 16.Borrower's Copy. Borrower shall be given one wnformed copy of the Note and of this Security�Insttument. . ��f= �. =
<br /> l7. Traasfer of the Yroperty or a Beneffdal Interest in Borrower. If all or any part of the property or any �9F���.
<br /> { interest u► it is sold or transferred(or i f a bene f ici a l interest in Bonower is sald or transferred and Boaower is not a , ,
<br /> : � � • nat�uai person)without Lender's prior written consent,l.ender may,at its option,require immodiate paymeat ln full of all .
<br /> • sums secur�d by this Security lnstmment. However,this option shall aot be exercised by Lender if exerc:ise is prohibited ,! � ,:_t�� _: ,
<br /> , by federal law as of the date of this Securlty lnsmiment. ;` •� ;
<br /> � If Lender eaercises this option,Lender shall give Borrower notice of acceteration.The notice shall provide a perlotl .,.��,
<br /> ° of not less than 30 days from the date the notice is delivered or mailed within wluch Bonower must pay all sums secured •
<br /> . Fo�aozs si90�vage a o�s� .
<br /> � - � � BAN:(EHS SYSTEMS.INC.,ST.CLOUD.MN 5830T It-800�397•23411 FORM M0.1�NE 2I8/91 . � ' ' .
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