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<br /> ��� �'' ,• `�' TOGETHER WITII aIl the �provements nnw or hereafter erected on the propecty, and all eas�ents. _ � :..
<br /> `� ` . - � appiucenances,aad fixtures now or hereafter a pazt of the pmperty. All reglacements and additions shall also be coveted "'_� •�� s".
<br /> � . , by this Seauity if„�,r.All of the foregoing�s ieferced w m this Seauity Insaument as the°Property:° . . ,�' '; _.
<br /> s� ` Boeaow�Covra�nmrs t6at Botrower is tawfully seised of the estate hereby conveyed and has the nght to gtani aad _ .
<br /> .. ` . �'J, convey the Property and that the Pcoperty is unenaimbered,except for eacumbrances of record. Borrower warraats and � : ,
<br /> well defend gene�aily the ufle to the ProPertY a,�,��all cla�ms and demands.subject to any enwmbrances of reeord. ,. • , ,�._
<br /> ' . T�ts St�xrnr Ixsrnuni�rn'combines unifoim covenants for narional use and non-unifonn covenanu with limited
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<br /> - variations by jurisdicaon w constitute a uniform secvrity insuument covering ieal pmperty. r � <. <'
<br /> , : ..r- , U�►rnotu►�Covavnrrrs.Boaower and Lender cavenant and agree as follodvs: � a when due - - � `�
<br /> � 1.Payment of Prindpal and Interest; PrePapment aad Late Charges.Borrower shaU pmmp Y P Y �� ` ;-
<br /> �� the principal of and'mterest on[he debt evidenced by the Note and anY P�Y�;and late charges due under the lYote. j s=� __
<br /> � 2.Fuads for Taxc�and Ins�sance.Subject to apFlicable law or tn a wnttea waiver by I.ender,Borrower shall pay
<br /> • . � W Leoder oa the day montWy payments ate due under the Note,until the Note is paid in fuU, a sum("Funds")for. (a) . ..
<br /> . , . yearly taxes and assessments wlrich may aitain priority over this Se�urity Insuament as a lien on the Property;N)Y�Y _ . , _ .
<br /> _ '. . • f teasehotd payments or ground rents on the Pmperty,if anY:(c)Yeat1Y ha7ard or property tnsurance premtums• (d)Year1Y -_•' '`.�.
<br /> ,. �- � flood'ms�!*ai+sP premiums,if any;(e)Year1Y mortSaSe insvrance premivms,if any:and(�anY sums PaYable by Horrower .,,...:�^�,` • '
<br /> • to Lender. in accosdamce witt►the provisions of paragraph 8, iu lieu of the payment of mongage mn�*ancx ptemiums. .: .< ` ��
<br /> ��.:.. -:,•. -,. :
<br /> �hese items aze called"Fscrow Items." Ixnder ma ,at an time.collect antl hold Funds in an amount not to exceed the ;.� . ...
<br /> � � ' max�mum amoant a lender for a federally related mortgage loan may require for Boaawer's escrow aocount under the � : �.`�.;
<br /> . � .;
<br /> ' , federal Real Estaie S�tlement Pmcednres Act of 1974 as �ended from nme to time, !2 U.S.C. § 2601 d seq. , - �: :�';:�,.. .
<br /> � ' •. � ("RESPA"),unless another Iaw that appliea to the Fuuds sets a lesser amount.If so.Leadermay,at anY time,co ll e c t a n d . .;;,�-.-:'.
<br /> `�,_ j ho l d F u n d s i n a n a m a u n t n o t t o e x c e e d t h e l e s s e i a m o u n t. L e n d e r m a y�i m a t e the aawunt of Funds due on the basis of •���- , _ _-_
<br /> ,_ curreat data and r+easonable estimates of •xpc nditu�+es �f future Escrow Items or otherwise in accordance with applicable _,
<br /> . law . . • '..`: -a.--'r".�
<br /> . . • The Funds shall be held'm an iastitt3tion whose deposiLS are insured by a fedetal agency,insuumentality.or entity , : �... _-_--
<br /> . � . - (iacluding Lender.if Leader is such an institution)or in any Federal Home Loan Bank. Lender shall apply the Funds w :t.,---
<br /> • ,.r::�.'.- � �
<br /> � pay the Escrow Items. I.ender may not charge Borrower for holding and applying the Funds, annually analYziaS the . �.=_
<br /> • escrow acxuaat, or verifying the Esccow Items, untess I.ender pays Bormwer�aterest on the Funds and applicab2e law . _. :.E_��_-
<br /> permits Lender to make such a charge: However, Lender may requae Borrower to pay a one-rime charge for au - � ,_.
<br /> , =.M1� independent real estate tax reporting sernce used hp L.ender in oonaection with this toan,unless applicable law provides ,� �. s;.___
<br /> othsrnise.Unless asi agreement�s made or a�plicable law requires inte�st to be paid,Lender shall not be required to pay .;>. �
<br />- � ► Bor�ower any interest or eamings on the Funds.Borrower aad I.ender may a�e in wnt�g,however.that interest shall be '.�',y�-�
<br /> . � _ ..� paid on the Funds.Lender shall give to Bonower,withoutcharge,an annual accountiag of the Funds,showing c�edits and . _:�
<br /> , • debits to the Funds and the parpose for which each debit w the Funds aas made. The Funds are pled8ed as additional , �� z•���
<br /> '� .�+ secauity for all suma secured Uy this Secun"ty Instn�ment. � '�:�
<br /> If the Funds heId hy Lender exceed the amounts permitted to be held by applicab2e 1aa+,L�eader s�a11 acconnt t° ; -,.-,��-_,
<br /> Le
<br /> •- � Borrower for the excess Funds in accoNance with the requirements of applieable law.If the amount of the Funds held bY ' ..;::�; .
<br /> '�.'�� ' Lender at any time is noi snff cient W pay the Escrow Items when due,l,ender may so noti Borrower in wn6mg,and,in , _
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<br /> - • ' such pse Borrower shall pay to Lender the amount necessary to make up the deficiency. Boaower shaU make up the , , �_
<br /> ' •.� d e fi c i e c u.y i a n o m o r e t h a n t w e l v e m o n t h l y p a y m e nts.at Lender's sole discreuon. _.��;�'-
<br /> � • Upon payment in fiill of all sums secnred by th�s Security Instrument,Lender shall mmptly refund to Borrower • �: -•:'�"
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<br /> � any Punds held by Lender. If, nnder paragraph 21, Lender shaU acquire or sell the Property, Leader, prior w the � .;^�_
<br /> • - acqwsit�on or sale of the Property, shall apply any Funds held hy Lender at the time of acqwsitton or sale as a credit - - .
<br /> � • .' agauut the sums sea�red by t�is Security Insuumeat. ''�'�
<br /> , �`' 3. Applleation of Paymmts. Unless applicable law provides o t herwise, a l l paymen t s receiv e d b y I x n d e r w i d e r �:''�;`"
<br /> _ • � f paragraphs 1 and 2 shall be applied: first,w anY PrePaytnent charges due nader the Note; second, to amounts payable .'.`,,.�`:
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<br /> �er paragcaph 2;thisd,to interest due;fourth,to pnnc�pal due;and last,to any late charges due under the Note. : `� ���;�_�
<br /> . 4.Chaiges; Lfeas. Borrower shall pay all taxes. assessments,charges, fines and imposidons aaributable to the •.-;��.
<br /> ' • p�op e rt y ahich ma y attain priori ty over this Security Iasaument, and leasehold paymenu or ground renu, if any. , ;�•,�,,:,
<br /> � ' Borrower shall pay these obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower shaU . -_—
<br />.• � pay thetn on time d�rectly to the peisoa owed payment.Borrower shall prompdy fumish to Lender all notices of amounts . , ��-�-T-
<br /> . . . to be paid under this paragraph. If Borrovrer makes these paymenu directly,Borrower shall pmmptly furnish to Lender .. ;�,�`.`�',_�
<br /> , • rereipts evidenciag the payments. ,• ;. ;':-.:-_
<br /> : Bonower shall prom�dy dischazge any lien which has priority over this Security lnstrumer►t ualess Borrowe.�: (a) .
<br /> ` . agrees in arriting to the payment of the obligation secured by the lien in a manner acxeptable to Lender;(b)contests in
<br /> � gQOd faith the Ilen by, ar defends against enforcement of the lien ia,legal proceedings which in tiie Lender's opinion
<br />-; � operate w prevent the eaforoement of the lien; or(c)seciues frora the holder of the lien an agreement satisfactory to .
<br /> � Lender subordinating the lien to this Security Instnrment.If Lender detennines that any part of the Property is subject to a �:
<br /> �� lien wlrich may attain priority over this Security In.ctrument. Lender may give Borrower a notice ideatifywg the lien. . . . ,-
<br /> ' ` Borrower shall satisfy ttie lien or take ane or more of the actions set forth above within 10 days of the giving of notice. � •
<br /> 5.Ha�ard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the , .
<br /> � � Property insured against loss by fire, ha7ards included within the tem► "extended coverage" and any other hazards, ,
<br /> Form 3028 9I90 lpage Z ol 61 • .
<br /> .��� • BANKEflS SrSTEMS.�NC.ST.ClDUO.MN 6830T 11 800�39743ai1 FORM MD-t�NE 2/6l97 . . � •
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