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<br /> � TOGfiTHER WfI'H all the umprovem�nts now or hereafter ereeted on the pro�erty, and all ease�nts, •; '4::•,`,•:' , { ;`.Y=
<br /> appurteaan�s, aud fixtures now ar hereatter a part of the property. All replacements and additcons shaU also be covered • � -
<br /> � by tltis Securiry Insttum�nt.All of the t'oregoing�s referred to in tbis S�urity Instrumeni as the"Ptoperty." ��<-_�^.�--
<br /> Boneonr�x Cov�,►rrrs t�at Botrower is lawfully seised of the estate hereby conveyed and has the nght w grant and �
<br /> " convey tht PtopeRy aad tiiat We Property�s:�ncumCe:ed, except€or enwmbraaces af record. 8orrower warrants and �� . . � �-
<br /> will defend�enerally th$utie to the PropertY ag,ainst aU claims aud demands,subject to any encumbrances of record. � <:. :
<br /> . TH�s SECUwrv IxsrRUr,�us combiaes uniform covenaats for national use and non-uniform covenanu with limited . �, �• . .
<br /> vuiations by j�xrisdiction to consriYute a uniform seca�rIty insaument covering real P�P�Y• --- -_ , � -
<br /> UN�FO�M Cov��rrcs.Borrower and Lende�covenant and agree as follows:
<br /> 1. Pay�Pnt oY Ptincigal and Imteregt;Pregayment snd Late Charges. Borrower shall promptly pay when due _ '� ._ . - _. =
<br /> the princi pal of and interest on the debt evidenced hy the Note and aaY P�F�t and late ctaarges due imdsr the Nate. .::;�:;-�-�,- , ;
<br /> 2.Funds for Taxes aad Ia�urnsce.Subjecc to app li c a b le law or to a wri u e n waiver b y L e a d e r,B o r r o w e r s h a l l p a y . ._, .
<br />. to L,eader on the day moathly psymeuts are due under the Note.uatil the Note is paid ia full, a s�m(°Funds")for: (a) •.� _, '': . -
<br /> yearly taxes and ass�ts w h i c h may attain priority over t h i s S e c u r i t y I n s m m a e n t as a l i e a o n the Pro p e r ry:(b)Year t S' ,,.�. ` Y
<br /> leasehold pa y s n e n t s or g rouad rents oa the Property.if any;(c)Yearly hazard or property i.+�,.A,Tce premiums;(d)Year1Y �_. . ..N;�1�,._.:..
<br /> � flood insurance preminms, if any (e)yearly�ortgage insuraace premn�>i f any;an d(�any s u m s p a y a b l e b y E o r r o w e r .�" `�� °` < `` '- '�
<br /> �i.lir�-;_�^;°.� . ,.,
<br /> to I.eader, in 2coordance with the provisions of paragraph 8, in lieu af the payment of mortgage insurance premiums. - :.�''�w, .', .
<br /> � 'Ihese items are calted "Escrow Items." Leader may,at any time,collect and hold F�mds in aa amount not to exceed the '�-.-,-':�.,-�=�.••_.��,�,�
<br /> ma:;,,,,�f..�ount a lender for a federally related mortgage loan may requiie for Borr�wer's escrow accaunt under the E�c:::.._-m..�_��,,..=
<br /> federal Real Estate Seulement Procedures Act of 1974 as amended &om time to tim�, 12 U.S.C. § 2601 et seq. �'.:.��<,�- '�
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<br /> . . ("RFSPA"),unless another law that applies to the Fnnds sets a lesser amount.If so,Lendea may,at an time,colle�t and ,:.y,:
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<br /> hold Fuads in an amount not to exceed the lesser amount. Leader maY estimate tha amount of Fnnds due on the basis of , •'-`,'-.,��,-;�,. . ;:•, � ,_
<br />" . cuirent data and reasanable estimates of expeaditures of future Escrow Items or otherwise in accordance with applicable ,r:,`'�k=�3�t',,,. : '
<br /> law. . '�•'}'/,�' . - '`
<br /> inctmm li *•'f,�x�:l,y�1�'F'l`i�–..,..,
<br /> 'I h e F u n d s s h a ll b e h e l d i a a n i n s U w t i o n w h o s e d�o s i t s a r e m s u r e d b y a federal a gen c y, ��ty.or entits .�.;t 3';;� ��'�"
<br /> � ('mclud�n�Lender, if L,eader is s�acn an institution)or in any Federal Home Loan Bank. L�ender shall�r the Puads w 7. �"��`��, -�-,- ,� =
<br /> pay We w Items. Leuder�aot�arge Borrower f�=�o!dinS and aPP1Yiug t3� r'•mds• ana'.�::.? �Y�S� `�����'�i�' L`
<br /> l�y .y"' �,i:l'.�` T __.
<br /> escrow aoeoaoit, or v e d f y i n���!F�^sw Items,w;less Le=��ys Bormwer�ater�a m�:��tmds�,.a a�pli�laa�
<br /> . , permits Lendez to �ke si:e� �. �;,s. d�eF-sver, I,.ender �y ieq�r �nouer os �n}� a oue-�:.::e charge �r sa �,.,�-;`, • �:�:-,r.
<br /> independs�nt real es¢ate� r�;�rvice�3�y Ler.der ia canne��u��;�s loan, unless ag�'r�:law pmrides ,.� •t`' � �_:
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<br /> �. � otheta�ise.lJnless ar►�t i�s:�e o*2��,.4:e law iequires inte�es:�a 3e p�i3, I.ender sball��i:�be�quired to pay � ,��y••��` - ----
<br /> � Borrower any interest�1 ear�nm�s�r_�:F��_B�rower and Lendet msp a�z�writing,however,:1�:;:�terest shall be j= .;:,r,,.
<br /> - _ --�-,:.,� F h •* �'��;< .�,i�
<br />.� patd on the Funds.I�d�r shall�e�3 ar+��,withaut chzrge,an a�i a�-,......_„c..z.r_Funds,�owmg c�s aad , .�;�� :
<br /> .. debits Lo We Funds�..�t*�e p�s�_�,�i��sh de@it tv ci1,E�vn�s���2. 'Y�s��are gle3ged as��icr� , �• •; �
<br /> . SErartl[S!fi0r 211 Slt�s s....sed by thls 3e�uiSS+in:�mT-r�a�t- ��f��<;t��� � r +r {''
<br /> ' �` If the�unds sa:3 by Lender exc�S tiTe�:::.�_r.�tm i�e lsn.�8�p aQpt.�:�i.Iaw, Lcxuir�'�i;:il ar�ea�.�.'-� � � „ ;•,.«•f...,s.:��_-
<br /> BBc��rrowc�far t�e c-��ss Funds in aceordanor Fz:tth�z .a..�..�af hcable law.If the amount¢�rha IFn�c3s�e��� a ��►�,�•'y"r;t;;;t�:�,,,
<br /> m��.-. .. ��- 3s �r�r•f.:,.�,;<�:-
<br /> I.euder��y ci�3s not sufficient to pay the�scrow Items cahan due,Lender maY so notify Borrower ia writing,a�i,aa ,.-• �";��',;.i,.r'<<:,..
<br /> . . such case Bozrower shall pay w Lentler the amount necessary to make up the defiziency. Borrower shall make u�th� ,'.,�;, .�;':
<br /> deficiency in ao m.flre thaa twelve manthly paymenis,at I.ender's sole discr�ton. 1'�� �•�
<br /> �� ' Upon paym�at in full of all suins seciued by this Secunty ,m�t,LendeY shall promptly refimd to Borrower }�;--,
<br /> ..,.�, any Fuads held by L�nder. If, uuder paragraph 21, Lender shaU acquire or sell the Property, Ixnder, prior w the :� !°
<br /> a c q�usition or sale of the Pra�e rt y,shaU apply any Funds heid by Leader at the time of acquisidon os sale as a credit %'=��' �.
<br /> against the snms secured by th�s Security lnsuument. -
<br /> 3. Application of Paymente. Ualess applfcable law provides othera+ise. all payments received by Leuder under '� ,.:`��'�
<br /> ` paragcaphs 1 and 2 shall be applied: fi�st, to aaY Prepayment charges dne under ths Note:second, to amounts payable •'y,_
<br />� undet para�aph 2;third,to interest due;fourth.to principal due:and last,w any late charges due uader the Note. �._�--
<br /> • 4. Cbarges; LIeas. Boaower shall pay all taxes, assessments, charges, fines aad impositions at�ri6utable w the ='�'
<br /> Property arhich may attain priority over this Security Instn�ment, and leaseho2d payments or ground cents, if aay ----,.1____,`�--
<br /> nst me
<br /> Borrower shall pay these ohligatlons�n the aoanner provided in paragraph 2,or if not pafd in thaz manner,Borrower ehall :�"---°`'� `
<br /> � pay them on time directly to We person owed paym�at. Borrower shall prompfly fumish to Lender all nottces of amounts `�J'�w�_"�
<br /> � to be patd under this paragraph. If Borrower makes these paymeuts directly, Bonower shall prumpfly fumish to I.ender ���.,;��;;y_
<br /> receipts evid�cing the paya�ents. �'"'`:'�`--`
<br /> Bormwer shall pmmptly discharge aay lien aluch has prIority over this Security Iastm�ena unless Borrower.(a) �_.,a._�..��-
<br /> agre�s in wrlting to the payment of the obligauon secured by the llen in a manner accepttible w Leader; (b)contests in !��"''"�'�""�=:=T' _.
<br /> • � good fasth the lien by,or defends against enforcemeni of the Gen in, le� roccedings ahich ia the Lender's opinioa ��= -.
<br />�- � operate w prevent the eaforcement of the l�en; or(c) secures from the ol�er of tlze lien an agroement sadsfactory w _ -- -- _-
<br /> Lender subordinating the lien W thts Security Insu�ment.If Lender determines that any p�xt of the Property is subjeci to a -�-.-�.._. _ _.
<br /> liea whlch may attain prlorIty over tPiis Securlry insuument, Lender may gjve Borrower a notIce identtfying the lien. -
<br /> Borrower shall satisfy the lien or take one or more of the actions sei forth above withia 10 days of the giving of notice. ����
<br /> 5.Ha�rd or Property Ins�aace. Borrnwer sltall keep the improvements now eaisdng or hereafter erected on the �'
<br /> property insured agaiast loss by fire, haTards i�cluded within We tecm "eatended coverage" and any other ha�aMs, —__
<br /> �_ :;:•.-i
<br /> � Form 3028 9/90/paga 2 of 6/ •-�:�
<br />. BANKfAS SYSTOAS.INC..ST.ClOUD.MN 69302 11-60 63 97-23a11 FORI'A M0.1 dVE Y/91 �� ..e.--.----....
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