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Absent the occurrence of the events 'set forth in paragraph 1(a) or <br /> 1(b) , above, within ten (10) years after the date of the Loan as set <br /> forth above, upon the commencement of the eleventh year after the <br /> said date of the Loan, Borrower, at that time and at any time there- <br /> after, shall have no obligation to repay the Loan or any part thereof <br /> to Lender. <br /> Repayment of the Loan as required under the terms of this paragraph 1 <br /> shall be made to Lender not later than the thirtieth day following <br /> " the sale, transfer or other conveyance referred to in paragraph i(a) , <br /> above, or following the date upon which the real estate ceases to be <br /> the Borrower's principal place of residence as provided in paragraph <br /> 1(b) thereof. <br /> 2. Borrower covenants with Lander that Borrower is eligible for the Loan <br /> under the following conditions: <br /> a. The property described below is the principal residence of the <br /> Borrower as of the date of the Loan, and the Borrower has no <br /> present intention to rent the said property, or to sell, assign, <br /> or transfer the interest of the Borrower in said property to <br /> another; and <br /> b. The proceeds of the Loan will be used only for alterations, <br /> repairs, or improvements on or in connection with the property <br /> described below, primarily to improve the conditions relating to <br /> health, safety, or energy efficiency of the dwelling located <br /> thereon, or to provide essential accessibility improvements € <br /> thereto; and <br /> c. Borrower has made no material misstatement of fact in conne6tion <br /> with Borrower's application for the Loan. <br /> Borrower further specifically covenants and agrees with Lender that <br /> Borrower's default under the provisions of this paragraph 2 consti- <br /> tutes an event requiring repayment of the Loan in the manner provided <br /> in paragraph 1, above, and is an event of default under the provi- <br /> sions of the Lien, as referred to in paragraph 5, below. <br /> 3. As security for the Borrower's personal covenant and obligation for <br /> repayment as herein provided, and subject to the terms and conditions <br /> of this Agreement,. Borrower hereby grants, and the Lender shall and <br /> hereby does have, a Lien on the real estate hereinafter described, <br /> together with all hereditaments and appurtenances thereto, in the <br /> full amount necessary to satisfy such repayment obligation and lithe <br /> cost, including reasonable attorney's fees of collecting the same . <br /> The said real estate subject to said Lien is situate in HennepiFn <br /> County, Minnesota, and is legally described as follows: <br /> 1 ; Uock 2. <br /> \a,.rk V\1‘e kem'cie..vtn Cpwn�'1 , rtl;rtineso • <br /> 2 <br />