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<br /> TOGETHER WITH i+ll the �mprovnmenh nuvi on c�re+dtCr er«IrJ un thc prupeity, ++nJ all c.�,.:mcu�.. • .:....:,,d��..�..�.;`
<br /> � xppurt�nanccr, xnd fixwr�,now �ir herrufter x part of the property. All roplacement, anJ additions tihall xlso he <<we�ed ,.xc�,----
<br /> � hy this SCC:uriry Instrument. AU c�f the forcgoing i�refenuJ to in thix SCCUrity Instrum�nt as the "Prop�rty." �°iO�'
<br /> BoReowt:k CuvFtvnN��:ti that Bc�rrower is IawFully seitied of the cstats h�rehy conveyul nnJ has the right ta grunt and :-
<br /> conv�y th� Propurty and that thC Pro{�rty i� unencumherCd, except for encumbranccs of ru:ord. Be�rrower warcants and �;i�--•
<br /> will Jafrnd generally the title ta thc Property abainst xll clain�.ti aad demand�. suhject to any dncumbrances of record. �`�
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<br /> T�tis St:ruwrv INSTRnMSH�•comhines unifarm covecu�nts far nutionnl u.� and ncm-uniform covCnants with limitad
<br /> variations hy,jurisdiction to constitute a uniform+acurity instrumrnt covering r�asl propeity.
<br /> UN�E�oRM CovFNnn�rs. 8orrowrr anJ Ixnder cavenant snJ a�rec as follows: . ����
<br /> 1. Puyment uf Princlpal and Inter�t; PrEpayment un�Late CharR�. Borrower shsU promptly pay when due .<-•---
<br /> � the principal of and interr,st on the debt evidanced by the Note anJ any [�repaymant and Istc charges due under th�Note. ��.,• •
<br /> 2. FundS far Tax�;tutd InSUrance. Subject to applicable law or to u writt�n waiver by Lender, Borrow�r shall pay . __
<br /> to I.ander on the day monthly paymenGc ara due under the Not�, until thc Note is paid in full,a sum ("Fundti") for: (s) � `
<br /> yeady taxes and asc�ssmen�s which may attain priority over this Security Inr+trumCnt as s li�n on the Proparty;(b) yeurly �it+. �
<br /> leasehald payments nr ground r�nts on thc Property, if any; (c) yeurly harar J or property insurancr premiums;(d)y�ar l y • _
<br /> I floocl�nsurunce premiums, if any; (e)yeurly murtbaga insurance:pn:rtuumc, if any;and(�any sums payablu by Borrower _.� -_
<br /> to l.endar, in acconlance with thz provisions of paragraph S, in lieu of thC payment of mortgage insurane�pr�miums.
<br /> Thzs�it�ms are callec! "Escrow Itzms." lxnder may, at any time,collce:t and hold Funds in an amount not to exce�d the
<br /> • ; maximum amount a IenJer far x federally rClatecl mortgagc loan muy reyuiro for Borrower's ascrow accnunt under the
<br /> � f�deral Real Estatc Setdemant ProceJuras Act af 1974 �.+ amanJed from timc to timr, 12 U.S.C. § 2601 et .seq.
<br /> ("RESPA"), unless anothar law that ap lies to thz Funds tiets x lesser qmount.If,o, L.znder mny, at any time,collect and
<br /> hold Funds in an amount not to �xc�the le+s�r amount. LendCr muy �.�timate the amount of Funcls dii�on the batiis of
<br /> �' curnnt data and rresonable estimates of expanditures of futurC Escrow Items or ntherwi�e in accorclancr with applicabla
<br /> • law.
<br /> The Funds shall he held in an institutian whose Jepasits aro intiurod by a federal agency, instntmentality,or entiry
<br /> (including Lend�r, if Lendar is such xn institution)or in any Federal Hom� l.oxn 9ank. I.Cnd�r shall apply the Funds to
<br /> � pay the Escrow It�ms. Ixnder may not charge Borrower for holJinb anJ applying the FuaJs, annually analyzing the
<br /> �scrow account, or varifying the Escrow Items, unless Lxnd�r pays Borrower �nterest on the Funds xnd applicabla law
<br /> _ (SdPiillt5 L,>ndcr Lo ma�;: such a chss'ge. !-lt�wrver, I�'nJer may r�uire Borrower to pay a one-timc char6a for an _
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<br /> independent real �state tax raporting servicr used by L.ender in connec;tion wUh this loan, unless applicahle law providas
<br /> otherwise. Unlwss an agre�mrnt is made or applicahl�law rr,yuires interest to he paid, L.�nd�r shall not hC reyui�eci to pay
<br /> Borrowzr any int�rest or eanungs cm the Funds. Borrowzr anJ L.rnder may xgrer in writing,hUw�ver,that interest shall t�
<br /> puid on the Funds.Lender shall giv�to Borrower,without char{,�8,an annual accounting nf th�Funds,showing creciits and _
<br /> debits to the Funds and tha purpaxa for which euch d�bit to thr Funds was maJC. Thc Funds ar�pleclged as additional
<br /> � szcurity for all sums secureci hy this Sec:urity lnstrumant. _-
<br /> If th� Funds held hy I.ender exceecl the amounts permitted to hr helJ by Npplicable law. I.ender shall eccount to
<br /> � Borrower for the excass Funds in accorJance with the r�e{uirements of applicahle law. If th�amount of the Funds held by �� _
<br /> l.ender at any tim�is not sufficient to pay th�Escrow Items when due. [.enJer may so notify Borrower in writing. and. in
<br /> such casa Horrower shall pay to Ixndar the amount nec;e.tisary to make up the daficiency. Borrower sha11. make up tha _
<br /> deficiancy in no morc than twalve moiithly paym�nts,at Ixndrr's sole J�scretion. ;:��—
<br /> Upon payment in full of all sums secured by this Security Instrument, Ixnder shall promptly rafund to Borrower -n��
<br /> any Funds held hy I.�nd�r. If. ur.drr parugrnph 21, LxnJ�r yhaU acyuirr or sell thc Prop�rty, I.ender, prior to the �
<br /> acyuisU►on or sula of thc Property, shsll apply any Funds held by I.�ndar xt the time of acquisipon or sala as a credit �,,,�_
<br /> against the sums srcureJ by this Security lnstrument. '=--
<br /> 3. ApplicaUun oF PaymenGti. Unlvss applicable Ixw provida, otherwise, all paymdnts rec:eived hy L.end�r under .;=-,,.__-
<br /> paragrsphs 1 and 2 shaU bz appliecl: first, ta any pr�payment cherges due under the Note; second, to amountti payable �-•:r-
<br /> , undnr para�raph 2;third,to intrrest due; fourth,to princtpal due;and last,to xny Ixte char b�es dua under the Note. :���."-`�'
<br /> 4. �har�es;L�CRS. Bonower shall pay all txxe.�, xsses,ments, charges, tinrs and impositions attributable to the ,��+_�
<br /> � Property which may xttain prioriry over this Sec:uriry Instrum�nt, anJ lrassehold payments nr ground rents, if any. ,�,,,i„���
<br /> Borrower shall pay these abligations m the tnanner provideel in pxragraph 2, or if not paid in that manner.Bortower shall �'-"'�'�`
<br /> ' pay them on time direc:tly to the persnn ow�;ei payment. Borrowar shaU promptly furnish to I.�nd�r all notices of amounGc ±'��.;;,_
<br /> to be paid under this paragraph. If Borrower mxka�th�.tie payments Jirectly, Borrower shall promptly fumish to I.endar =�""°
<br /> receipts evidencing the payments. - �.`fY�t'�
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<br /> Borrower shall promptly JixchHrge xny lien which has priority over this Securiry Instrument unless Borrower: (a) ��;i ; _
<br /> agr�s in writin� to th�payment of the obligation securul hy the lirn in x manner acceptxble to Lender; (b)cont�.sts in .,.,,. ' _
<br /> goad faith the lien by, or defcnds agxinst enforcament nf the lien in, legal proceedings which in the Lender's opinion �• .
<br /> operNte to prevent th� enforcement of the lien; or (c) sa:cures from the holJ�r of the lien an agreement satisfactory to �
<br /> I.cnder suhordinating the lien to this Se�:urity Instrument. If I.��der datrrmine.ti that any part of the Properry is sut�j�c:t to a ,
<br />- i lien which mxy attain prioriry over this Sec:urity Instntment, Lender may give Borrower x notice identifying the lien. . .
<br /> i Borrower shall satisfy the lien or titke one ur moro c�f the actions set farth ebove within 10 days uf the giving of notice.
<br /> 5.Hswtrd ur Property Inrurance. Borrower shall keep the improvements now existing or hereafter�r�ted on the
<br /> � Property insureci against loss hy fire, haz�►rJs includr.d within the term "extendeci :overage" anJ any other huzurds,
<br /> Form 3028 9/9 aqe 2 0! I
<br /> ' 4 I- BANKERS SVSiF.MS.MC..ST.CLOUD.MN 5830711�800�387�73411 fUflM MD-1�NE 1.5:91
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