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<br /> T� TOGETHBR WITH all tho improvements now or heteaftcr erected on the pro rty. and all easemente, �
<br /> � a� a urtenances,and flatures aow or hereaftcr +a part of the propercy. Ali replacements and ad tions shall also be covered ��;,T-,_
<br /> ' � • by Wis Security Inauunteut.All of tha foregoing ie referrsd to ln this Securlty Insuument as the"Property." 4`
<br /> � Bonxxowra CovENnNrs thwt Borrowsr ie lawfully seiaed of the estate henby conveyr.d and has the right to grant aad i�`:,
<br /> convey the Property and thot the Property ia unencumb�red, except for encumhranc.�.s ef record. Borrower warrent� and
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<br /> : ;.���� will defend generally tha tltle ta thc Property aBiinst all clafnns aad demauds.subject to any e�cumbrances of mwrd. <<<�
<br /> THIS SF.CURITY INSTRUMENT CORIbIIlt9 W1�f0II1l COVGIIft[1U f0!AatIOA�I USC AIId AOI1-uniform covenanta wlth limited -
<br /> _;�,� variations by Jurisdicdon to ranstitute u uniform sect►dty instniment cavering real property. ��'-
<br /> -- UNiw�Cov��N�rs.Borrower and Leader coveaant And agree as followa: -
<br /> '-� 1.Pwyment of Principtl xnd Intereat;PrepaYmait and I.ste ChAr�ea.Borrower shall promptly pay whea due
<br /> - -- the principal nf and tatenst oa the debt evIdeaced by the Note aad any prepayment and late chazges due under the Note.
<br /> 2.Fund4[or Taxee and Inaiaxnce.Subject to applicable law or to a written waiver by Leader,Borcower shall pay
<br /> ��� to I.ender oa the diy monthly p�yments an due under the Note. untll the Note is paid in full, a sum("Funds") for: (a)
<br /> _ , � yearly taxes and assessmeats which may attaia prtorlty over this Securlty Instrument as a lien on the Property:(b)yearly
<br /> . � leasehold paymente or ground rcnts on the Property,tf aay; (c)yeuly hazard or praperty iasureuce premiums;(d)yearly
<br />.:.��-��.,�� ` flood insucaace premiwnv,if any; i�)Y�ly mortgage insurana prea�iuttt�, !f any:and(fl any sums payable by Borrower
<br /> :��':;:�:•.�: to Lender. In accordance wlth the pmvtsion.q of paragraph 8. ia lieu of the payment of mortgage insuraz�ce pr¢miwns-
<br /> ' . . These items are called "Escrow Iteu�s." Lender may,at any time.collect aad hold Funds in an amount not to eacced the
<br /> �' maulmum amount a lender for a federally related mortgage loan u�ay require for Borrower's escrow account under the
<br /> ,:.�„��;�..• federal Real Estate Settlement Procedures Act of 1974 as emendal from time ta time. 12 U.S.C. $ 2601 et aeq.
<br /> '::�_.�,� ("RBSPA"). ualess awntha law thsu�p lia to the Funds sets a leaser amount. If so, I.ender may, at aay cime.collxt nnnd
<br />'�;=��,." hold Fvnds in an amount aot w ea�We lesser amount.Leader may atimate thc auzount of Fuada dae on tha bists of
<br /> ����""'�'' curnnt detn aad msonable esHtnata af expendttuc�es of future Escrow Items or otherwise tn accordance with appIIeable
<br /> t,"''n�'' law.
<br /> ^�a=;�? The Funds shall be held fa an institutioa whose deposita are iasured by a federnl agenc ,instrumentality. or endty
<br />,.•,-�_ ,:;;�, n cr shall a p1 the Funda to
<br /> _i,�._.�. (including L.ender,if Lrnder ie such an insdtutton)or in any Foderal Home Laan Bank. I.e P Y
<br /> ...;, pAy the Bscrow Items. I.ender may not charge Borrower for holding and ap;�lying the Funds, annually anelY�B ��
<br />_:�._:,.. , escrow account. or verlfying the Fscrow Items, unless Leader paya Bor.tiwer Intenst on the Funds andappl�cable 1�►w
<br />:=;,ri r permtts Leader to make such a charge. However, Lender may require Borrower to pay a onatime charge for an
<br />�„�,.. . uniess applicable law provides
<br />--�• independeat reat estata tax re�wrting service used by L.ebder in�onnecdon with this loaa.
<br />�''�'-�� othenvise.Unless�n agrament is made or appllcable law requires interest to be aid,L,ender shall not be requirod to pay
<br /> an
<br />_����,r�-,�� Bonower any interat or eu�ungs on the Fuads.Bonower and Lender may agrce writing,however,that inureat ahell be
<br />,��,,,�,��� paid on the Funds.Lender shall give ta Borrawer.without charge.an annual aecountii► of the Funds,showing credits aad
<br /> =_--""°� debite to the Funds and the pucpose for which each debit to the F�nds was made. �e Funds are pledged ea additioaal
<br /> =-�,�.�;� seciulty for all sum9 secured by this Security Insmunent.
<br /> �=.t��:��� If the Funds held by Leader eacetd the aznouats pemtitted to be held by appiicable law, L,euder shall account to
<br /> ._... Bormwer for the eacess Funda ia aecorclance wich�he re4uircmcuta�i i��,I€catrte tau.If thc�rsouat of shs Fuads hel!t+y
<br /> =���� Lender at any time Is not suHicieat ro pay the Escrow Items when due.l.ender may so notify Borrower in writing,and,in
<br /> ---_�__--�—= such case Borrower shall pay to I,ender the ataount necessary to make up the deRciency. Borrower shall malce up the
<br /> -�- deficiency in no more thaa twelve moatlily paymec�ts,at Lender's sole diacretion.
<br /> _===�'� Upon paymeat in full of all sums secund bY this Security Wst�me°t. 1.ender ahall promptly refund to Borrower
<br /> --�— aay Funds held by I.eader. 1f, under paragraph 21, Lender sHall acquin or seU the Property, I.eader, pdor to the
<br /> �� acqaisltIoa or sale of the Praperty,shall apply any Funda held by L.ender at the tlme of acquislttoa or sale aa a credit
<br />-;�;,;�.� against the sums secured by thie Security Instnunent.
<br /> ---_--— 3. AppUcndon of Payateats. Unl�ss applicable law provides otherwise, all paymenta received by I.ender nnder
<br /> --..-._— paragraphs 1 and 2 shall be applied: first, to eny prepayment charges due uadcr the Note; second,to e�aounts payable
<br /> -• uader par�graph 2;third,to interest duc:fourth,to principal due;aad last.to any late chargts due under tl�e Nou.
<br /> _� 4.Chargesi Liena. Borrower shall pa�y all taxes, assessments.charBes�fines and impositione attrlbutable to the
<br /> - - Pmperty which may attain pdodty over this Securlty Inst�ument, and leasehold payments or ground rents. if Any.
<br /> Borrower shall pay these oblig�tion�in the manner pmvidod in paragraph 2,or if aot paid in Wat mAnner,Borrower shall
<br /> pay thsm on timc diroctly to the persott owal payment. Borrower shall promptly furniah to Lendcr ail notices of wnounta
<br /> - to be p�Id under this ParagraPh. If Borrower malces these payments d9rectly. Horrnwer shaU promptly fumish to Lender
<br /> receipts evidencing the piymenta.
<br /> Borrower ehall pmmptly diecharge any lien which has prlority over this Securlty Instrument unless Bornower:(a)
<br /> agtas iin writing to the p�yment of the obligatiaa eocurod by the lien in a maaner acceptable w Lender; (b)contests in
<br /> good feith the liea by. or defeads against eaforceiaent of the lien in,legal proceedings which in the Leader's opinion
<br /> operate w prevent the enforcemeat of the lien; or(c) sect:res from the holder of the lien an agrament eatisfactory to
<br /> �— L,ender subordinattng the lten to thia Secudty instiument.If I,endar determines that aay part of the Propecty is aubject ta�
<br /> lien which may attaia priority over t1�is Secur[ty Insnvment, Leader may give Batrower a notice identifyiag the lien.
<br /> - Borcower ahall sat[afy the lien or take one or mare of the actions set forth abnve withia 10 days of thc givIng of notice.
<br /> °-='- S.Hazard or Property L�surance. Borrower sha11 keep the improvernents now exisdng or hereafter erected on the
<br /> __z�.�:i;;;��-._,� Property insured against loss by fire, hezarde included within the term "extended coverage" and any oiher hazards,
<br /> - --__�,rM1_� Fam 3028 8/90 IpaDe 2 of 81
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<br />- BANKERS SYSTEMS,INC.,5T.CLOUD,MN 6 0 303 11-800•397•23�i1 FONM MO•7•NE 2@l91
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