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<br /> . , including floods or flooding,for wAich Lender requires insarance. This 9nsurance shall be maintained in the amouats and � �.• •'.,�,•, :'.
<br /> . . fot the periuds ti�ai Le�det ce4ui�es.�he�uaaoe cazrier pmviding the insutance shaU be s.twsen by Bonawer subject to � •,;,.� •'
<br />_ � • , Lend�'s agproval which shall not be unceasonably w'sthhetd. if Bormwei faiLs w maintain caverage described above,
<br /> . . , L�der may.at I.ender's option, obta�a wvesage w protea Leuder's rights in the Property in socordance with p�agraph '�.'�_.,�..... .
<br /> . 7, �' ��
<br /> . _� All insuraace Polides and r�ue�avfils shaU 6e acoeptabte w L�der and shall include a standard mortgage clause• ; . � :, ,
<br /> . l�ender sT�all have the nght to ho2d fliee polic�es and ceaewals.If L�ender requires,Sormwer shall pmmpdy give to Irnder
<br /> }. �� � .:l all receipts of paid pre�ams aad renewal notices.In the event of tos4,Bozmwer shall give prnmpt notice w the insnrdaoe ;. . „
<br /> . � carrier and Leaaer,Leuder snay make proof�of loss if not made pmmptty by Borrower. ,
<br /> �. .. j� Unless Ixuder aad Bornnwer othelwise agcoe ia writing,insu:ance Pnoce�s shall be applied to reswration or�p air . .
<br /> �` �. =:-�-c._I =--- - _-'
<br /> of the ProF�Y�8ed.if the restoratioa or repair is eooaouucally feasible and L�der s secunty is aot tessened. if the �`
<br /> _ - ---{ -� resw r a tion or r e p a i r i s n o t e x a a o s rt i a ll y f e a s�l s l e o r i.�d e r's s e t v ri t y would be le�ed,the insurance praceeds shall be =_
<br /> . . applied to the sums secured by tt�is Securiry Instrumeat,wht�her or nnt then due.witb aay excess Pai d to Bosrower. I f _-_.;,:'
<br /> • Borrower abandons the Propeny. or does not ansa+er aithin 30 days a notice from l.ender that the msursace c�uier has .^�.
<br /> - � � , • ffep to settle o ay sums secuied b3►this Seturity Instiument,whether or noi th�due�T6e 30-day p�ad arill 6egin � ..
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<br /> �� wheu the nouce isgtven. ucation of race�ds to rin at shall not extend or LL �,:�.��. -� �. ,
<br /> - . . ,` � Unless l.eadcr aztd BormwPr othecadse agtee ia writing,an3►aPp P P �P _ ; :�. .
<br /> - - Postpone the due date of the monthly payments refe�red to ia pazagraghs 1 and 2 or change the amouut of the payments;If , .,
<br /> h 21 the Pra is acquired bY :�.-
<br /> _ .. �P�P p� Lender,Boaower's right to aay insnrance policies and pmceeds resulang . :�.
<br /> . ` fmm damage w the Progetty Pnor w the acquisition sliall pass to Ixnder to the extent of the sums sewred by tflis Sesurity ,.,.'`;G�.���_ -_
<br /> �� � Instmment i m m e d i a t e ly p dor t o t h e a c q n i s i d o n. , .
<br />`;� .. , .�`} 6. Occupancy. Presevatlon. Maiatenance aad Rrotedion of the Property, Barrower's I.aan Appl�catIon, . • f
<br /> I.e a s e h o l d s.Bonower sball o c c u p y.esta6lish,aud use the Pro crty as Soaower's principal residence wiWin sixty days
<br />.{: � after the execuaon of this Security Instc�unent and shall couti�e w oc y the PropertY as Boiro w e r's principal r e s�d�c e ` ��.
<br /> iu uti cup �
<br /> - ' " for at 2east one year after the date of oorup�ncy, unless Lender otheraise agre�s ia w��g.w��CO�nt shali not be �_
<br /> � � ' unteasonably withheld, or unless�teuuating ciram�staaces exist which ate beyond Borrower's conffol.Borrower sba11 not �;�_... .., _
<br /> �� ,,t desaoy, damage or impair the Propert�r.allow the PropertY to deteriorate, or coaanit w�ste on the Property.Bozrower _, �- ...j�.�
<br /> {:�."_ shall be in defauit if a�r forfeiteue aaron or proceeding.whether civ�or criminal, is b e g n n d�at in l.ender's good faith � z
<br /> . • jndgrnent could �sult ia forfeiture of the Property or otherw�se materiallY imPau' the lien created by Uris Security —.
<br /> Instrument or Lender's secm�.ty uiterest.Borrower ma�r c;ure such a default and reinstate,as pmvided in paragraph 18,bY a
<br /> � � � causing the actian or pmceeding w be dis�nissed unth a ruting that, in Lender's goad fa3W detertninat�on,precludes ' _
<br /> of the lien created b ihis Security ��~��
<br /> �'` forfeitnre�f the Borcowet's intecest in the 1'ruPertY or other noaterial u'�aument �Y �
<br /> ''. . . - Inst�umeat os I,eader's security intetest.Borrower shall also be in def�It if Borrower.during the loaa Lcati.on cess, �� W ;_�
<br /> ' ` , r;3 �ave materially false or iffiaurate information or statements to 1.eader(or fai2�to provide Lender v�nth any materiai � _ —
<br /> ` � � mformaaon)in connection wlth the loan evidenced by the Note,including,but not limited w,representations conceming ' . _
<br /> ' Borrower's aceupancy o f t he P r o pe�ty as a prin e i p a l�e s i d e n c e.I f t h i s S e a i r i ty I n s u�e a t i s o n a l e a s e�ol d,Boisower shall L ��.
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<br /> ''; . � � comply wlth all the provis�ons of the lease. If Bosmwer acciuires fee dde w the Propercy, the teasehald and the fee titte �;.�`. �.•._
<br /> • � �:� ` shall aat merge unless I.ender agtees ta thc merger ia arriting. �� °- -- -
<br /> ; 7.Ptuter.Kon of Lender's Rights in the Property. If Borrower fa�s to perform the covenaats and ag�eements . . _�
<br /> � con t a i n e d i n t h i s S e c u r i t y I n s a u m e n t, o r t h e re i s a l e g a l pra c e e d i n g that may si g n ificantly affect Lender's r�ghts in the . �.f:�-Y�
<br /> � Property(such as a proceeding in baatauptcy,probate, far condemnation or f orfeiture or w eaforce laws oz re g u l ations), . . ,,;�„�
<br /> ' then Lettder may do and pay for whatever is necessary to pmtect the value of the Property and Lender's ri�h;ts in the ..:�
<br /> � Property. I.ender's actions may ioc2ude paying any s�ms secured by a lien which has priority over ttus Secnrlty • _;.;-.P_,
<br /> um
<br /> - . � I�ument,aPP�B ia court,�aying reasonable atwrneys'fees and entering on the Property to maice repairs.Although . . .. -�
<br /> ��`:- ' L e n der may t a ke a c aoa u n d e r t h�s p a r a g r a p h 7,Lend er does not have to do sa. -".`�' `
<br /> - . qny amouats disbursed by Lender under Wis paragraph 7 sha11 becorae addiuonal debi of Borrower�se�aued by this , �,�`
<br /> �`- Securiry Instmment.Unless Eorrower and I.ender agree to other terms of payment.these amounts shaU bear interest frora • . �° �{:`�
<br /> . the date of disbursement at the Note rate an d s h a ll be pay a b l e, w i t h i n t e r e s t. u p o n n o t i c e fr�o m L e n d e r w$o r r ower •����'�
<br /> , , recNesein8 paYmeni• . ,�'
<br /> • 8.Mortg,age Ins�ance. lf Lender required mortgage+n�*ance as a condition of making the loaz►secured by this ���•.:••
<br /> Security Insunment,Bonoaer shall pay the premiums requued to maintain the mortgage insurauce in effect.If, for any � , �z_
<br /> � � reason. the mortga�e insurance coverage requlred by I.ender lapses or ceases to be ia effect, Borrower shall pay the --
<br /> .�.- . . premiumq required to obtain coverage substantially equivalent ta ihe wortgage insurauce prevtously in effect. at a cost ' ..
<br /> substantially equivatent to the cost to Borrower of the mortgage ipsurance previously in effect,from an alteraate mortgage , ..
<br /> � � insurer approved by L.ender.If substantiallyequivalent mortgage insurauce coverage is not available,Boirower shall pay _
<br /> ' to Lender each month a swn eyual to on�twetfth of the qearly mortgage insutance premium being paid by Boaower when . ,
<br /> �.;;., � the insurance coverage lapsed or ceased to be ia effect. Lender wiU accept,use aad retain these paya►euts as a loss reserve : � . .
<br />- � in lieu of mortgage insurance. Loss reserve payments may no longer be required. at the optton of Lender, if mortgage ,
<br /> ' insurance coverage(ia the aawunt and for the per�od that Lender requtres)provided by an insvrer approved by Leader
<br /> .� again becomes available and 9s obtained. Bonower shall pay the premiums required to malntain mortgage insurance m '
<br /> , , � effect, or to provide a loss reserve, until the requirement for mortgage insurance ends in accordance wtth any written
<br />_ . , agreement betweeu Bosrowet and Lender or applipble law. Form 302 0 laage� . �
<br /> I BANKERS SYSTEMS.�NC.,'u�.CLOUO.MN 6630117•80P397-23411 FOi1M MDi�NE 28791 � . ' -
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