|
'� -�,4 � - � • ���J:'!`::'L i�'� �lr",� �" � ;�liEar-"=,`.._
<br />- � .,u �:� ��v,�iX���.y/v;. ,?V!±`!n7y+l.�tal1R' :�y"f"�.I�erRM e.• .}�r � _ . i4'�'�:i1Y3' ...`J'-
<br /> ....w� � ��� R �� ' ....._.._.'.....,..ti._'� ` - _ __ ___
<br /> —._.
<br /> .Y
<br />-.s:t`.9�f�
<br /> ���
<br /> r,�� .
<br />_'�� �: 98_ 11��24 , .
<br />-=;�
<br /> :_:�, ;:
<br /> �� � TOGBTHBR W1TH all thc improvemcnts now or hereAfter erectcd on the property, nnd all casemenis,
<br />_����. appurtenancey,and fixtures now or hereafter a part of the propeny. All replacements and additions shall also be cavered _
<br />;,��i' by this Securlry Instrument.All of the foregoing is referred to in thie Sec:urity lnstcument av the"Praperty."
<br /> ;� BoaROw�e Cov�HnNrs that Borrower is lawftdly selsM of the atate hcrrby convcyed and hns thc right to grant�uid
<br /> convey the Propeny and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and
<br /> _4� will defend generaJly the title to the Property ag�lnat all cldmi and demand�, subject to any encumbr.�nces of rec;ord.
<br /> Tf�is SECURITY INSTRUMF:NT COI11U�11fS U1IIEOIIII COV�I1Al1I9 FOI flflllAllal use and nun-uniforn� covena�us with IimiteJ
<br />`" variation�by jurisdiction to cunstitute a unlform securlty Instrument covering real property,�
<br />,._:�': UNir�o�u+Cov�HnNrs.8onower and Lcnder covenant and a ra es follows: -. "� —
<br /> — � 1.Pnyme�t ot Principal end Intuest;Prepaymwt an�LAtC CIIUR'QM. Borrower shell promptly pay whcn due
<br /> the principal uf and interest on the debt evldenced by the Note a��d any prepayment and late charges due under the Note.
<br />:::.z_�ia1' 2,�nd9[or TAxcs end Iasuranca SubJect to applicable law or to a written waiver by Lender,Borrower shall pay
<br /> t�;� to I..ender an the day monthly payments arc due under the Note, until the Note is paid in full, a sum("Funds") for. (a)
<br /> -�� yearly taxes and assessments which may attain priority over this Security Instrument as a lien on the Property; (b)yearly
<br /> leasehold payments or ground rents on the Property,if any; (c)yearly hward or property Insurence prcmiums; (d)y�arly
<br /> _u;� flood insurance premiwns, if any; (e�yearly mortgage tnsuranGe premiums, if any;and(t)any st�ms�ayable by Borrower
<br /> _��• to Lender, in accordance with the provislons of paragraph 8, in lieu of the payment of mortgage insurance premium,c.
<br /> -'°�� These items are called "Escrow Items." I.ender may, at any time, callect and hold Funds in an amount not to exceed the
<br />-��:� maximum amount a lender for a federally related mortgage loan may require for Borrower's escrow accuuut under the
<br />---—= federal Real Escate Settlement Procedures Act of 1974 as �uriended from time to time, 12 U.S.C. � 2601 rt seq.
<br /> -- ("RESPA"), unless another law that applies to the Fundy sets a less�r amount.If so,I.et�der may, at any time,collect and
<br />�".+j hold Funds in an amount not to exceed the lesser a�nount. Lender may atimate the amount of Funds due on the bAais of
<br />�=;:=�� current data and reasonable esdmates of expenditures of future Escrow I�en�s or otherwise in accordance with applicable -
<br />�.-3�; law.
<br />-- — The Funds shall be held in an institution whose deposits are lnsund by a faleral agency, instrunxntality, or entity
<br />''=�, (including Lender, if Lender is such an institution)or in any Federal Home Loan Bank. Ixnder shall apply the�unds to
<br /> -- pay the Escrow Items. Lender may not charge Bonower for l�olding and applying the Funds, annurlly anAlyzing thc
<br /> �] escro�H account, or verifying the Escraw Items, unless L,euder pAys Borrower interest on the Funds and applicable law
<br />'"_="`—��i rmics Lender to malce such a eharge; However, Lender may requice Bonower to pay a one-time eharge for an
<br /> --�=� ndependent nal estate tax reporting serv►ce usai by Lender in conc�x�ion with thie loan,unless applicable law provides
<br /> j otherwise. Unless an agreement is made or appllcable law requires interest to be�aid. I.ender shall not be required to pay
<br /> _�;.��.�� Bonower any intcrest or carnings on the Funds,Ronower and Lxnder may agree�n wnung,however,that interest shall be
<br /> pxid on the FundA.Lender shall g�ve to Borrower,without charge, an annual accounting of the Funds,showing cred.ts and
<br /> .—9 debits to the Funds and the purpose for which each debit to the Funds was macle.The Funds are plaigod as additional
<br />,_„�,;�-�; security for all sums secured by this Sec:uri�Hnstrument.
<br /> _°-? 3f the:ut;��h�:d�y I.c;,de:ex�.... ihe stz`-osnf.°Fetm:i-e1 tn tw hPl�t hy an�ticable law, Lender shall account to
<br /> ��� Bocrower for the excesa Funds in accordance with the requicemeats of applicable law. If the amount of the Funds held by
<br /> —:: Lender at any time is not sufficient to pay the Pscrow Items when due, Lrnder may so notify Borrower in writing,and, in
<br /> -- such case Bonower shall pay to 1.ender the amount necessary to make up the deficiency. Borrower shall malce up the
<br /> - deficiency in no more than twelve monthly payments,at I.ender's sole discretion.
<br /> Upon payment in full of all sums secured by this Security Instrument,I.ender shall promptly refund tA Borrower
<br /> any I'unds held by I.ender. If, under paragraph 21, L.ender shall acquir.e or seU the Pcoperty,.Lender, prior to the
<br /> acqutsition or sale of the Pro�erty, shall apply any Funds held by Lender at the tim� of acquisiuon or sale as a credit
<br />,_ against the sums secured by thie Security Instrument.
<br /> 3. AppHcation of Payments. �Jnless appllcable law provides otherwise, all puyments received by l.ender under
<br /> pangraphs 1 and 2 shell be applied: tirst, to eny prepayment charges due under the Note; second, to amounts payable
<br /> under paragraph 2;third,to interest due;fourth,to pr�nc�pal due;and last,to any late charges due upder the Note.
<br /> q, Charges; Lieos. Bonower shall pay all taxes, assessments. chazges, fines and impositions attributable to the
<br /> Property which may attain priority over this Sccurity Inst�nt, and leasehold payments or ground rents, if aay.
<br /> Bo�rower shel!pay theae obligations m the manner provided in paragraph 2,or if not�aid in that manner, Borcower shell
<br /> pay them on time directly to the person owed payment. Borrower shall pron�ptly furn�sh to I,ender all notices of announts
<br /> --- to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furn9sh to Lender
<br /> � receipts evidencing the payments.
<br /> Borrower shall promptly discharge any lien which has priority over this Security Instnrment unless Borrower: (a)
<br /> � a�rees in writing to the payment of the obligauon secured by the lien in a manner acceptable to L.ender; (b)conteste in
<br /> - ' goad faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion
<br /> _ _ operate to prevent the enforcement of t�e lien; or(c) secures from the holder of the lieu an agreement satisfactory to
<br /> __r�� i.ender subordinattng tho lien to this 5ecurity Instrument, If Lender detemunes that any part of the Property is subjxt to a
<br /> ,°-� lien which may attain priority over this Securiry Instcument, Lender may give Borrower a notice identifying the lien.
<br /> �—� Bonower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of uotice.
<br /> ----r'� S.Hazard or Property Insurance. Borrower shall keep the improvements now exisung or hereafter erected on the
<br /> _�� Property insured against loss by fire, hazards included within the term "extende3 coverage" and an ther hazards,
<br /> _ Form 3 fp e f
<br />'_��-�i: �
<br />-�^.e�. BANREHS SYSTEMS.INC.,ST.ClOUO,MN 6E302 fl-800397•23�11 FOflM MD•1•NE 2/6191
<br /> .i•:
<br /> :;4wa
<br /> :��
<br /> ` . ..•T
<br /> ��.
<br /> •�Jfrl���
<br /> . f —
<br /> _- -� •�
<br /> : � °
<br /> I - — __ - - ___ ---
<br />
|