|
. '.�„��
<br /> �.�p
<br /> .' �[ . / .• � _-
<br /> . ” ' `jei,.�01'_ . , . .. .. .i.Dyifi�}N�.R.a�.,. . — .
<br /> .._,._�.... ..�......wa:lr'..... .......... .. . . .. . . '� . .. . t,. _ .�•�-- �. t.
<br /> .. � � • . � - . .=` --
<br /> - ' .. .n5�.i.r -
<br /> � _
<br /> . gg�i�����2 __
<br /> ,. .,
<br /> rOGETHER WITH all the fmprovements now or hereaftcr erected on thr property, and all rasements.
<br /> ' � appurtenances,and fixtures now or hereafter a patt of the property. All replucements suid additions shall also be covered ,�
<br /> by this Security Instrurnent. All of the foregoing ls rcferred to in this Secudty Instrument ae the "Prnperty:" �;�I
<br /> BoasoweR CoveNeNTS that Bonower is lawfully seised of the estate hercby conveycd and has the right to grant and `-
<br /> convey the Propetty awd that the Property is unencumbered, exc�pt for encumbrances af record. Borrawrr warrents and 'Y
<br /> will defend generally thetltle to the Property agatnst all clalms aad de�nanda,subject to nny encumbrancec of record. � _..
<br /> TE{is SFCIIRITY IN51'R��MFNT C01TIh3TIeS UI11fOTfil COVCfIAl1IS fPT i1RIlOTISI USC fl[t(I f1011-UI11PnRt1 CUVtIIazItS W!I}1 IIiri11E'd �1"'
<br /> �,: vartations by Jurisdlctioa t�wnstitute a uniform sec:urIty instrument covering xeal property. I • -
<br /> UNiwRnt CoveNnnrs. Borrower and Lender r,�venant and agree as follows: "`"`�'�
<br /> ••""''�� 1. Payrasnt oP Principal and interest; Prepaymeat and Late Charges. Borrower shall�romptly pay when due �'��_-�-
<br /> � the principal of and interest on the debt evldenced by the Note ttnd any prepayment and late charges due under the Note. �;:,;;`;'
<br /> . 2.Fiu►ds for Taxes and Insurnnce.Subject to appIlcable law or to a wdtten waiver by I.cndcr,Borrower shall pay .,,.ti'�'°_
<br /> to Lender on the day monthly payments are due under the Note, untIl the Note is paid In tull,a sum ("Funds")for: (a) '_;�
<br /> yeazly taxes and assessments whlch may attain prlority over this Security Instrument as a lten on the Property; (b)yearly �.��•
<br /> lease hald payments or ground rents on the Property, if any;(c)yearly hazard or property Insurance premiums; (d)yearly -.
<br /> flood insurance premiums, if any; (e)yearly mortgage insurence premtums, if any;and(�any sums payable by Bonower ' _
<br /> to I.ender, In ac:cordance with the provIsions of paragraph 8. ia lieu of the payment of mortgabe insurance premiums. --
<br /> These items ure called "Escrow Items." I.ender may,at any time, collect and hold Funds in an amount not to exceed the �_°
<br /> maximum amount a lender for a federally related mortgaga loan may require for Bonower's escrow accaunt under the
<br /> federal Real Estate SetUernent Procedures Act of 1974 as amended from ttme to time, 12 L1.S.C. § 2601 et seq.
<br /> ("RESPA"),unless another law that ap lies to the Funds sets a lesser amount. If so, Leader may, at any ttme,collect aad =__
<br /> hold Funds in an amount not to ex�We lesser amount.Lender may estimate the amount of Funds due on the basls of � _
<br /> cunent data and reasonable estimates of expenditures of future Escrow Items or othenvlse in accordance with applicable
<br /> law. ..-_-
<br /> The Funds shall be held in an institution whose deposits are insured by a federal ageacy,insuumentality. or entlty ,
<br /> (including Lender.if Lender is such an institution)or in any Federal Home Loan Benk. Leader shall apply the Funds to -
<br /> ,� psy the Escrow Items. Lencler may not charge Borrower for boldiug t�d applying the Fuads, annually analyzing the _
<br /> escrow account, or verifying the Escrow Items, unless Ixnder pays Borrower interest on the Funds and applicable law
<br /> permits Lender to make such a charge. However, Lender may require Bonower to pay a one-time charge for an
<br /> , � independent real estate tax mponing service used by Lender in connectlon with this loan,unless applicable law provides �;,__
<br /> otherwlse. Unless aa agreement Is made or applicable law requires interest to be paid, Lender s6a11 aot be required to pay
<br /> � Bonower any interest o[earnings on the Fun ds.BotYOwer ap d L cn der may agree in w r lt i ng,however,t hat i nterest s h e l l be ��� °'"=�
<br /> � paid on the Funds.Lender shall give to Bonower,without charge,an anuual accounting of the Funds,showing credits aad
<br /> deblts to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br /> security for all sums secured by this SecurIty Instrtuneat.
<br /> It the Funda heid by Ixnder exceed the amoiwcs pem�ined co be heid by appiicabie Iaw, Ixuder shalI acwunt to
<br /> Borrower for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by ` —
<br /> Leader at any time is not sufficient to pay the Escrow Items when due,I.ender may so notify Borrower in writing,and,in
<br /> such case Bonower shall pay to Lender the amount necessary to meke up the deficiency. Borrower shall make up the
<br /> deficiency in ao more than twelve monthly payments,at I.ender's sole discretion. --
<br /> Upon payment in full of all sums secured by this Securiry Iastrument, L.ender ahall promptly refund to Borrower __
<br /> any Funds held by Leader. If, under paragraph 21, I.ender shall acquire or sell the Property, Lender, prior to the _
<br /> acquisition or sale of the Property, shall apply any Funds held by Lender at the time of acqulsitioa or sale as a credit -_ -_
<br /> against the sums secured by this Security Instrument. _
<br /> � 3. AppUcaHon ot Payments. Unless applicable law provides othenvise, all payments received by Lendcr under
<br /> paragraphs 1 and 2 shall be applied: fIrst, to any prepayment charges d�ae under the Note; sec�nd,to amouat�payable
<br /> � under paragraph 2;third,to 3nterest due;fourth,to principal due;and last,to any late charges due under the Note.
<br /> j 4. Charges;Ltens. Bonower shall pay all taxes,assessments, cbarges, tTnes and impositions attributable to the
<br /> l Property whIch may attain priority over thls Security Instrument, aad leasehold payments or ground rents, if aay.
<br /> Bonower shall pay thesc obligations in the manner provided in paragraph 2, or if not psid in tl�et n�anner,Bonower shall
<br /> ] pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lendar all notices of amounts "
<br /> � j , to be paid under this paragraph. If Bonower makes these payments direcdy, Bonower shall promptly furnish to Lender -
<br /> � receipts evidencing the payments.
<br /> + Borrower shall promptly discharge any lien which has priorlry over this Security Instrument unless Borrower:(a) _--
<br /> � agrees in writing to the payment of the obligation secured by the lien in a marmer acceptable io Leader; (U)contests in
<br /> good faith the lien by,or defends agalnst enforcement of the lien in, le al proceedings which in the Lender's opinion
<br /> operate to prevent the enforcement of the lien; or (c) secures from the�older of the lieu an agreement satisfactory to
<br /> Lender subordinating the lien to this Security Instrument.If Lender determines that any part of the Property is subject to a ..
<br /> ' lien which may attain pnority over this Security Instrument. Lender may give Bonower a notice identifying the lien. _
<br /> • Bonower shall satlsfy thc lien ur take oue or more of the actions set forth above within 10 days of the giving of notice. -- -_
<br /> 5.Hezard or Property Insurance. Bonower shall keep�he improvements now exisnn�or hereafter erected on the ' --__-°--_
<br />- Propeny insured against loss by fire, hazards included widiin the term "extended coverage" and any other hazards, ` -
<br /> �fi
<br /> �om, sozs e�so ragee 2 0�si ----_---'
<br /> .,�,��=�;:='�=i.
<br /> � BANKERS SYSTEMS.M1C.,5T. CLOUD,tN�G6902 I1�000�937•29411 FORM MO•t•NE 2/6/91 T.fci.'N,-
<br /> I ' :��,:,�.�:
<br /> , .
<br /> � ,
<br /> .. �
<br /> ;
<br /> �
<br /> . � - -_-_-- _. __ _„
<br /> = ' 'I
<br /> ; ;
<br /> t
<br /> � '
<br /> e
<br /> , - __
<br />
|