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<br /> � TOCiETH�R WITH ali the improvements now or hereuftcr crected on thc properry. and all cascmcnte, �
<br />__�.� c�purtenances.and flxtures now or hercafter a part of the propeny. All replacements and additione sliall also be covercd
<br />,-��, by thi�Secudty Instrument.All of the foregoing!s refecred to in this Sa;urity[nstntment as the"Propetty.'
<br /> :3oartowea CoveN�N�rs that Bonowar is lawfully ecised of thc estate hereby convey�d and has the rlght to grant and
<br /> Y�� wnvey the Property and thai the Property is unencumbered, except for encumbrances af record. Banower warrants and
<br /> -- wlll defend generally thc title to the Properry against all claims and dcmands,subject to ar►y encumbrances of record.
<br />.':�'�,�'� TH�s SECUatn�Itasrnuh�eNr combines unlform cavenants for nndonal usc and noa-uniform covenants with limited
<br /> - y variatiocus by jurisdiction to constitute a uniform securlry instrument covering real property.
<br /> ,-�� UNIFORM COVENANTS.BO[t�OWCr A11d LEII�SEt COVCI18At Blld flg[OC AS fOU0W8:
<br /> _ 1.Payment of Princt�wl and lnterest; Pre{u�ymeat and Ls�te Charges.Borrower shall promptly pay when due
<br /> thz principal of and intere��on the debt evldenced by We Note and aay prepayment and late chazges due under the Note.
<br />:?�� 2.Ftitnda for Taxes�nd Iasurance.Subject to app1}cable law or to a written waiver by L.ender,Borrower shall pay
<br /> ,;_� to Lender oa the day montWy paymenu ace dua undcr the Note,until the Note is paid In full,a sum('Funds") for: (a)
<br /> �_,., yearly taxes and assesemCats whIch may attain prlority over this Securlry Instrument ns a liea on the Property; (b)Ycarly
<br />- �='=y leasehold paymeats or ground rents on the Property, �f any;(c)ycarly hazard or property insurauce premiums; td)yearly
<br />'��� flood insurancc prea�iums,if aay; (e)yeazly mortgage insurance premlums,if any;and(�any sums payable by Borcower
<br /> ���' to Leader, in accardaace wlth the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums.
<br />-r,�H These items aze called "Escrow Items." Lender may, at any time,collect and hold Funds ia aa amount not to exceed the
<br />-`—� maximum amount a leader for a federally related mvngage loan may require for Borrower's escrow aceount under We
<br /> -_= federal Real Estate Settlement Procedures Act of 1974 as amended from time to time, 12 U.5.C. $ 2b01 et seq.
<br />- � ("RESPA").unless uwther law that ap lies to the Funds sets a lesser amount. If so, L.enderma�y,at any dme,collert and
<br /> - hold Funds tn an amount not to ex�the lesser amouat. Lender may estimate the aawunt of Fuad�due oa the ba�ls of
<br />�-=-- current data and reasonable estimates of expendltures of ftuure Escraw Items or otherwise in a�cordutce with applicable
<br /> — faw.
<br /> The Funds shall be held in an institution whose deposlts are insured by a federal agency,iustruraentality,or entiry
<br />�=`� (Including Lender, if Lender ts such an insdn�tion)or in any Federal Home Loan Bank. I.ender shall apply the Funds to
<br />-� pay the Es�row Items. Leader may not charge Borrower for holding and applying the Fuads, annually analyzing the
<br /> escrow account, or verifying t6e Escrow Itcros, unless Lender pays Borrower iutcrest on the Funds and applicable law
<br /> s-�� permits Leader to make such a chazge. However, Lender may require Borrower to pay a one-tlme charge for an
<br /> independeat real estate tax reporting service used by Lender in conaetdon wlth this loan, unleas xpplicable law provides
<br /> otheiwise.Unless aa agrament is made or appllcable law requires inurest to bc paid,Lender shall not be required to pay
<br /> Boaower aay interest or eamings on tt►e Funds.Borrower and L.ender may agree{n wrtting,however,that intenst shall be
<br /> — paid on the Fuads.L.ender shall give to Bormwer,without charge,an annual accouating of the Funds,ahowing credits and
<br /> debits to the Funds and the puipose foc which each debit to the Funds was mad�. The Funds are plalged as addIdonal
<br /> security for all sums sxured by this Security Insuvment.
<br /> Tf�� F�������i ry Tra�f�r r����r�t�P a��i�nta�w��ttr� t�he�h���l hy anplicahle..law, i,rp�le��hall acr�unt m
<br /> Borrower for the excess Funds in accordunce wlth the nquiremeuts of applicable law.If the amount of the Fuads held by
<br /> I.cnder at eny time is not sufficient to pay the Escrow Items when due,L.ender may so aotify Boaower in wrlting. aad,ln
<br /> such case Borrower shall pay to Lender the amount necessary to make up the deficiency. Bonower shall raake up the
<br /> deficlency in no more than twelve monthly paymeats,at L.ender's sole discredon.
<br /> Upon payment in full of all sums secured by tl�iis Security Insavment. I.end.er shall promptly refund to Borrower
<br /> any Fti►nds held by i.ender. If, under paragraph 21. I.ender shall acquire or sell the Property, Lender, prior ro the
<br /> acquisttion or sale of the Property, shall apply any Funds held by Lender at the time of acquiaicion or sale as a credit
<br /> ugamst the iva,s srcured by thla Security Inacruweat.
<br /> 3. Applic�tba of Paymenta. Unless applicable law pmvides othenvise, all payments received by Lender uader
<br /> puagrapha 1 and 2 shall be applied: flrst,to any prepayment charges due under the Note; secoaS,to amounts payable
<br /> under paragraph 2;thlyd.to interest due;fourth,to principal due;and last.to any late charges due under tbe Note.
<br /> 4. Ciarges; Lier�. Borrower shall pay all taaes, assessmcn[s, chazges, fiaes and Impositions ataibutable to the
<br /> Properry which may attain prlority over this Security Insaument. and leaschold paymen[s or grouad rente, if any.
<br /> Aorrower ahail pay these obligations in the manuer provided in paragraph 2,or if not patd in that manner,Borrower sh�ll
<br /> pay them on time dinctly to the person owed paymcnt.Borrower shall prompdy furnish to L.eadcr all aottccs of amounts •
<br /> W be paid under thIs paragraph. If Boaower makes these payraents direcdy, Borrower shall pmmpdy fumish to Lender
<br /> receipts evIdeacing the payraenta.
<br /> Borrower ahall pmmptly discharge any 1{en which has priority over this Securiry Instrument unles�Borrower: (a)
<br /> agroes in writing to the payment of the obligation securai by the hen in a manner acceptable to Lender;(b)conteata in
<br /> good faith We lien by, or deftads against enforcement of the lien in, legel proceedings which in the Lender's opiaion
<br /> operate to prevent tho eaforcement of the lien; or(c)secures from the holder of the lien an agrament satiafactor3► to
<br /> Lender subordinating the lien to thts Securlry Instnunent. If Lender determines that any part of the Properry is subject to a
<br /> lien which may attain priorlty over this Securiry Insmim,nt, Lender may give Bonower a nodce idendfying the lien.
<br /> Borrower ahall aatisfy the lien or take one or moro of the actions set forth above within 10 days of the giving of notia.
<br /> 5.Harard or Property Insurance. Borrower shall keep the improvements now existing or henaftcr erccted on the
<br /> Property insured against loss by 6rc, hazards includai within the term "extended coverage" and axry other hazards,
<br /> — Form 30 9I80 fpage��2�t(¢/
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<br /> -�- BANKEHS SVSTEMS,INC..ST.CLOUD,MN 6830111•SW39)•23411 FORM MD•1•NE Y16191 ✓.�_%
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