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<br /> y`- . TOGETHER WITH all the improvements now or hereafter erected on We p�rty,�d���e�ments. � � , � � � '
<br /> �; � appurtenances,and fixrures noa or hereafter a part of rlse property. All replacements and add�nons shall also be covered �
<br /> by tbis Security Insuument.All of the ioregoing�s referred to in this Securiry Instnuneut as the Property:' � ,
<br /> � -- Bo�ow�CovExtixrs that Bormwer�s lawfiilly seised of the estase hereby conveyed and has the nght to grant aad � ----- -.
<br /> :� convey the Property and that the Property is unencuin6ered,except for encumbrances of recard. Borrower warrants and _
<br /> � arill d+efend generally the tide to t6e Property against all claims and demandc,subject to any encumbrances of record. ; .
<br /> " T�s Sr:cuxmr INSruubmvr combines muform covenants fi�r nationat nse and non-uniforw covenanu with limited • � •
<br />. ��: variations by jurisdiction w wnsritute a uaiform security insm�ment covering real property. ° °• � ,,
<br /> (:` Uxrrotu►t CovfrrnN�rs.Borrower and Lender covenant aad ag�e as follows: ! --
<br /> rr ,
<br /> g: l.Fayment of Prtacipal and Inberest; PrepaYment and Late Cdarges.Borrower shall P��Y Pay""'1��� '. � �:1
<br /> `�' the principal of and interest on the debi evidenced by the Note and any prepayment and late charges due under the Note.
<br /> `Y 2.Funds!or Taxes and 1i�,�n�._Sub}ect to applicabie law or to a written a+aiver by Lender.Borrawer s6a11 pay � : � � :
<br /> '�� � to Lender on tke day monthly payments are due under[he Note, until the Note is paid in fiill,a sum("Funds") for. (a) ` ` .'"`�•`
<br /> �� � yearly taxes and assessments wtuch may attain priority over this Security Instniment as a lien on t6e Property:(b)yearlY (' �; `-•'.
<br /> , .''_`��:�-
<br /> •'�� ' leasehol� a nts or und renu on the Pro e �f an (c)yearl ha7ard or ro u�svrance temiuta5;(d)yearty � �� '= '
<br /> 1 P 3►� 8� , P rtY• . Y� ° . �°�
<br /> �:_ � ; flood'ms�uance premiums,if any;(e)yearly mortgage insurance premlums,if any d(�a�r sums payable hy Eorrower
<br /> ami
<br /> �)< . . ��; to Lender� in acoordance with the provisions of paragcaph S, in lieu of the payment of mortgage insurance premiums. ��
<br /> .f=<• � These items are called'Fscrow Items.° Lender may.at any cime.collect and hold Funds in an amount not to ea�ceed We � � .�"�;-
<br /> _� �� i maximum amount a lender for a federally related mortgage loan may require for Barrowei s escrow acrount under the � �"`--
<br /> �'j�'� � n::�-
<br /> q� ' federal Real Fstate Settlement Procxdures Aa of l974 as amended from time to time. 12 U.S.C. § 2601 et seq. , , _—
<br /> '� •• (°RESPA'),uatess another law that applies to[he Fnnds sets.a lesser amoun�lf so,lender may.ai any time.oollect and
<br /> {; • hold Funds in an t�mount not to eaceed the lesser amount. L.ender may estimate the amount of Funds due on We basis of .- �� ���
<br /> '�: . , current data and reasonable estimates of expenditures of fumre Fscrow Items or otherarixe in accordance with applicable � � z–
<br /> i' , ' law. '�,�`�_�
<br /> n r_
<br /> '�� The Funds shall be held in an instimdon whose deposits are insured by a federal agency.instrumentality,or enrity �" -"-'��
<br />- ��i- ' . f. �Y' �Y'��_
<br />�r; (inctuding L,eutier,if Lender is sucb an institution)or in any Federal Home Loaa Bank. Lender shall apply the Funds w f�� � : ��`�•�
<br /> 3";; ` -- pay the Escrow Items. Leader may aot charge Borrower for holding and applying the Funds, annuaiIy analyzing the � ;L'.��.
<br /> .: e }�,�,i
<br /> �.. • , escrow account,or verifying the Escrow Items. uniess Lender pays Borrower interest on the Fuads and applicable law . . _��_-:
<br /> �erauts Lender to make such a charge. However, Lender may reqaire Borrower to pay a one-tune charge for aa , `:,,,, ;
<br /> "�= uidependent real estate tax reporting senrice used by Leuder in cannection wiW this loan. ualess applicable law provides
<br /> '�,; � ' � otherwise.Untess an a g r e ement is made or applicable law mquires interest to be paid. Lender shaU not be required to pay � � � '�.:
<br /> :; � Bormwer any interest or eamings on the Funds. Borrower aad I.ender may agree in wnnng,however,that interest shall be " '.'�`•�'�`� '
<br /> �' paid on the Fuads.Lender shall g�vc to Borrower,without charge,an annual accounting of the Funds.showing credits and �.':
<br /> �' . debits to the Fwfds and the purpose f o r w h i c h e a ch debit to thc Funds was made. The Funds are pledged as additional � � < .� • ''�+. -
<br /> �• . • : security for all swas secured by tlus Security Instrument. , : =::;i�:
<br /> ���; . ;• If the Funds held by Leader exceed the amounts permitted to be held by applicable law, I.ender shall accouat to :-.;-�,t; �.
<br /> � Borrower for We excess Funds in accordance with the requuements of applicabls law. If the amovnt of the Funds held by .;.':;.�;;::
<br /> . ' Lender at aay tune is not su�cient to pay the Fscrow Items when due.Lender r.iay so notify Borrower in writing.anQ in �, . �:�•:�*�;
<br /> • '; such case Borrower shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the ::�.--.
<br /> ' deficiency in no more Wan ta+elve monthly paymenu.at Lender s sole discrenon. `' -���`•r
<br /> ,'' ' Upon payment in fuU of ail sums secured by this Security (nstrument. Lender shall promptly refund to Borrower • � ��"'`�
<br /> �• any Funds hetd by Lender. If. under paragraph 21. I.ender shall acquire or sell the Property!..Lender. prior to the '�� . . �=•:�.
<br /> `� • , acquisinan or sale of the Property. shall apply any Funds held by Lender at the time of acquisition or sale as a credit ` '':��
<br /> ., ., , � agamst the sums secured by tlus Security lnsmiment. . • : ;:••�:
<br /> 3.Appllcatioa of Payments. Unless applicable law provides otherwise, all payments received by Lender under ;.��
<br /> paragraphs 1 and 2 shall be.applied: first. to any prepayment charges due under the Note;second,to amounis payable � '�t';
<br /> � � un der paragraph 2;t hir d,to interest due;fourth.to princ�p a l due:and last,to an y late char ges due under the Nae. :
<br /> '' - � 4.Cha�es; Lleas. Borrower shall pay all taxes, assessments. charges, fines and impasitions attributable to the - �
<br /> :i?�; � Propesty whici� may attain priority over this Security lastrument, and leasehold payments or ground rents, if any. . . .
<br /> .�#,•. ' ' Boaoaer shall pay these obligations in We mauner provided in paragraph 2,or if not�aid in that manner.Borrower shall • .
<br /> . � pay them on time directly to the person owed payment.Borrower shall promptly furcush to Lender all notices of amounts • "
<br /> to be paid under this paragrapb. If Bonower makes these payments directly, Borrower shall prompily furnish to Lender
<br /> } receipu evidencing the payments. • ' .,
<br /> _ � Borrower shall prompdy discharge any liea whicb has priority over this Security Instrument unless Bonower:(a) �. . .�
<br /> � agrees in writin�to the payment of the obligation secured by the lien in a manner acceptable to Lender: (b)contests in .. .
<br /> � good faitb 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 the lien; or(c)secures from the holder of the lien an agreement satisfactory to k
<br /> ` ' � ; L.ender subordinating the lien to this Security Instrument. If Lender detemunes that any pan of the Propert�+is subject to a .
<br /> � lien which may attain priarity over this Security lnstrument, Lender may give Borrower a notice idenufyiag the lien.
<br /> • i Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 da�rs of the giving of notice. . � •
<br />- ' ' S.Elazard or Property Insurance. Borcov�er shall keep the improvements now eaisting or hereafter erected on the .
<br /> Property insured against loss by fire, hazards included withm the term "extended coverage" and any other hazarcls, .
<br /> � Form 3028 9190 Ipage�ol 61 �
<br /> 84NKFP5 SVSTEMS.�NC.S7 CLOUD.MN 9630I Il 800 397 23411 FORM MD 1 NE 7�5�9t �`�._ ._� , '
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