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<br /> TOQfi'fHER W1TH all the improvements now ot hereafter erected on the property, and all easemeuts. �
<br /> oppurtenances,and fuetures now or hereafter u part of the pmperty. All replacemeats and addltions shall also be covered =-
<br /> � by thle Security Instrumeat.All of the foregoing ie refernd to in thia Security Instcucaent as the"Property."
<br /> ' BoeROw�x Cov��NTS that Bonower Is lawfully selsed of the estate hereby conveyed and hag the dght to grant and
<br /> ' convey the Propetty and that the Property is unencumbered.except for encumbrances of record. Borrower waerauts aud
<br /> � wili defend generally the title to the Property agaiust all claimt and demauds,subJect to aay encumbrances of record. �
<br /> THi�• 5scuKrrv [NSraun�crrr conibines uniform covenants for national use and non-umform covenants with lin�ited �
<br /> �.�� variudons by jurIsdictloa to constitute a wilform security Instrument covering real property. __.
<br /> t UNIFORM COVFTIANI'S.BOtiOWCi 8Ad LRIIdeC COVCJ180.t 3Ad Hgree as follows:
<br /> •�-�'"r' 1.Pwyment of PrIncl{wl and Interest;Prepaymcnt nnnd Lwte Charges. Bonower shall promptly pay when due
<br /> 't-^�"�"� �te pri�tcipal of and intatest on tbe debt evIdeaced by the Note and aay prepayment and late chazges due utidcr the Note.
<br /> ' 2.�nds for Taxes and Iasureace. Subject to applicable law or to a wrlttcn waiver by Lender.Borrower shall pay
<br /> i , to l.ender on the day uanthly paymenta arc due upder the Note. untU the Note Is paid ia full. a sum("�de ro�Y: (a)
<br /> yearly taxes�td assessments which may ettain priodty over this Securiry Instn�ment as a lien on the Pro rty; early
<br /> leasehold payments or ground teats on the Pmperty, if any; (c) yearly hazard or property insuraace premiume:(�Yearly `
<br /> tlood inawnnce premiums�if aay;(e)Yearly mortgage insurance premiums�If any;and(�auY auu�s payable by rrower
<br /> to Lensier, iu accordance wlth the provisions of paragtaph 8, in lieu of the paymeat of u'wrtgagt insurattce premiums.
<br /> .'�� These items are called"Escrow Items." I.ender may, at aay time,coUect aad hold Fuads in an emounc not to exceed the
<br /> � maximum amount a lender for a federally related raortgage loan may require for Bonower's escrow account under the
<br /> � federal Real Estate Scnlcment Procedures Act of 1974 as ameaded from time to rime, 12 U.S.C. § 2601 u seq.
<br /> ("RESPA"),unless anot�er law that ap lies to the Funds sets a lesser eixwuat.If so, Lender may,at aay time.couect aad
<br /> �� 6old Funds ia aa amount aot to exc�the lesser amount. L�eada may estimate the amouat of Funds due on the basis of
<br /> ' °i curreat data and reasonuble estimates of expenditures of futwe �scrow Items or otherwise in accordance wiW apPlicable
<br /> � law. insuumentality LY
<br /> '�e Funds shall be held in an InsUtutton whose deposits ar�lasured by a federal agency, , or enti
<br /> • � (includiug Lender, if Leader is such aa insdtution)or in aay�ederal Home Loaa Bauk. Lender shaU app ly the Funds to
<br /> _ pay the Bscmw Items. Lender may not charge Borrower for holdiag and applying the Fuads. annually anelYzinB the
<br /> , ;� : escrow account, or vedfying the Escrow Items. unless Ixnder pays Borrower interest an the Fuads andapplicable law
<br />��; pe rmits Lender to walce such a charge. However, I.eader may rtquire Borrnwer to pay a one-time cherge for an
<br /> ��• - independent real estate tax reportIng service useci by Leader in connecdon with this loan,ualess applicable 1aw provides
<br /> otbervvise. Unless an agreement is made or applicable lawre�uires inuresc to 1x pa1d,I.euder shatl aot be required to pay
<br />- Borrower any interest or earniage oa the Funds.Borrower and Lender may agrce in wrlting,however.that iacerest shall be
<br /> . • paid on ihe Funds.I.ender shall give to Borrower.without charge,an enuual aceouating of the Funds.showing credite and
<br />�;�; ��:,,� ;�;,, debits to the Funds and the purpose for which each debit to the Fuads was made. Ttie Funds are pledged as edditional
<br /> r.ecuriiv for all sums seCtlfed bY this SeCUiity Insuunlent.
<br />�:;'�;:'�'��;�+'' . +If the Funds held by L:ender excced the amouats pem�itted to be held by appIicabie Iaw, I.cuder shat!ac�ouni i�
<br /> — "`'�"�'"' Borrower for the excess Funds in accordunce with the requirements of appllcable law. If the amount of the Funds held by
<br />.a.r-�r.a.��tay,.
<br /> �'::��-;�•� '� I,eader at any tiwe is not sufRclent to pay the Escrow Iums when due.I.ender may so notlfy aorrowor in wcittnB+and+ ia
<br /> __�_� �'; such case Borrower ahall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the
<br /> "�"°:�?�s�s- defi�iency in no more thaa twelve montWy payments,at Lendcr's sole discretion.
<br />-�-"'�`�"T''� Upon payment in full of atl sums secured by thia Se�uri Iastrumeat. I.ender shall promptly refuad w Borrower
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<br /> -,,z�° any F�nds held by I.ender. If. under paragraph 21, I.ender s all acquire or sell tt�e Prope►ty, L.ender, prlor to the
<br /> -''"�'"'��r'� acquisition or sale of the Pro rty, shall apply any Fundis held by Leader at the time of acquisition or aele as a credit
<br />�w�y
<br /> _asa;,�� ag8fast the swtls seCUted by s Secutlty Inst:umeut.
<br />�_+�:�_:•`�'������ 3. Application of Peyments. Unless applicable law provides otherwise. all payments rcxeived by Lender uuder
<br /> -_--'�-;�''� paragraphs 1 aad 2 shall be appliai: first, to any prepayauat charges due under the Note; socond, to amouate payable —
<br /> � ""�'���"''�� under paragraph 2:third.to iaterest due;fourth,to principal due;and last.to any lau charges due under the Note.
<br /> __==�".a'� 4. Charges; Lieas. Borrower ahall pay all taxes. auessments. charges. fines and impositlona atMbutable w the
<br /> Property which may attaia priorlty over this Security Inauumeat, and leasehold payments or ground renta. if an •
<br /> Bonower shall pay these obligations in the manner provided la paragraph 2,or if not paid in thnt manner, Borrower sha 1
<br />�--� pay them on time direcdy co the person owal payment.Borrower shall pmmptly foruish to Lender all notices of amounte
<br /> ------ to be paid under this paragraph. If Borrower makes these paymenta directly. Borrower shall prompdy tiunieh to L�,nder
<br /> receipts evIdencSng the payments.
<br /> Borrower shatt promptly discherge any lien which bas priorlty over Wis Security Inscrua�eat nnless Borrower: (a)
<br /> -�•� agree.s in wrlttn�to the payment of the obligation secured by the Iten in a manner acceptable to Leader; (b)contests in
<br /> �-� - good faith the lien by, or defends agaiast enforcement of the lien in, 1egal proceediags which in tt►e L,ender's opinion
<br /> operate to preveat the euforcetuent of the lien; or (c)socures from the holder of the lien an agreaaeat eatisfactory to
<br /> L.ender subordiaating the 1}en ta this Socurlty Instnimeut. If Leader dete:mines that any part of We Property ia subjoct to a
<br /> liea which may attain prIortty over this Securlry Instrument. Lender may give Bomnwer a notice idendfying the lien.
<br /> Borcnwer shall sattsfy the lien or take one or more of the acdons set forth above withtn 10 days of the giving of noticc.
<br /> --- 5.Hazerd or Property Insarance• Borrower ahall koep the improvements now existing or hereafter erected on the
<br /> - =-.=i�. pmperty insured against loss by fire, hazards includod within the term "eateuded coverage" and any other hau�rds,
<br /> �-��;l� Form 3028 8l90 fpaps 2 of 6)
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<br /> --���r�4?.�, • DANKER9 SVSTEMS,WC..6T.ClOUO.MN 66502 11�800387•Y3�11 FOHM MPl-NE 216/81
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