___________________ [Space Above This Line For Recording Data] ___________________

This mortgage is exempt from the Mortgage Registry Tax (MRT) 
under Minnesota Statutes § 287.04 (6). 

Minnesota Housing Finance Agency
Monthly Payment Loan
MORTGAGE
[Purchase Money Mortgage or for refi transactions leave blank] 

DEFINITIONS

Words used in multiple sections of this document are defined below and other words are defined under the caption TRANSFER OF RIGHTS IN THE PROPERTY and in Sections 11 and 14.  Certain rules regarding the usage of words used in this document are also provided in Section 12.

Parties

(A)	“Borrower” is [Mortgagors and Relationship to Each Other].  Borrower is the mortgagor under this Security Instrument.
(B)	“Lender” is [Lender Name].  Lender's address is [Lender Address]. Lender is the mortgagee under this Security Instrument. The term “Lender” includes any successors and assigns of Lender.

Documents

(C)	“Note” means the promissory note dated [Closing Date] and signed by each Borrower who is legally obligated for the debt under that promissory note.  The Note evidences the legal obligation of each Borrower who signed the Note to pay Lender [Loan Amount Spelled Out In Words] Dollars (U.S. $[DPA Loan Amount]) plus interest, if any.  Each Borrower who signed the Note has promised to pay this debt in full, in accordance with the payment schedule set forth in the Note.  If applicable, the debt will be paid in full no later than [DPA Maturity Date].
(D)	“Riders” means any and all Riders to this Security Instrument that are signed by Borrower.  All such Riders are incorporated into and deemed to be a part of this Security Instrument.  
(E)	“Security Instrument” means this document, which is dated [Closing Date], together with all Riders to this document.

Additional Definitions

(F)	“Applicable Law” means all controlling applicable federal, state, and local statutes, regulations, ordinances, and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions.
(G)	“Community Association Dues, Fees, and Assessments” means all dues, fees, assessments, and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association, or similar organization.
(H)	“Default” means: (i) the failure to pay any Periodic Payment or any other amount secured by this Security Instrument on the date it is due; (ii) a breach of any representation, warranty, covenant, obligation, or agreement in this Security Instrument; (iii) a breach of any representation, warranty, covenant, obligation, or agreement in the first lien security instrument that is secured by the Property; or (iv) any action or proceeding described in Section 7(d). ; or (v) Borrower’s failure to use the Property as their primary residence.
(I)	“Loan” means the debt obligation evidenced by the Note, plus any interest, prepayment charges, costs, expenses, and late charges due under the Note, and all sums due under this Security Instrument, plus any interest.
(J)	“Loan Servicer” means the entity that has the contractual right to receive Borrower’s Periodic Payments, if any, and any other payments made by Borrower, and administers the Loan on behalf of Lender.  Loan Servicer does not include a sub-servicer, which is an entity that may service the Loan on behalf of the Loan Servicer.
(K)	“Miscellaneous Proceeds” means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 4) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property.
(L)	“Periodic Payment” means any regularly scheduled amount due for principal and interest (if any) under the Note.
(M)	“Property” means the property described below under the heading “TRANSFER OF RIGHTS IN THE PROPERTY.”
(N)	“Successor in Interest of Borrower” means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument.

TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secures to Lender (i) the repayment of the Loan, and all renewals, extensions, and modifications of the Note, and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower mortgages, grants, and conveys to Lender, with power of sale, the following described property located in the County of [Property County], State of Minnesota:

[Property Legal Description]

which currently has the address of	[Property Street]	
	[Street]	

[Property City]	, Minnesota	[Property Zip]	("Property Address");	
[City]		[Zip Code]		

TOGETHER WITH all the improvements now or subsequently erected on the property, including replacements and additions to the improvements on such property, all property rights, including, without limitation, all easements, appurtenances, royalties, mineral rights, oil or gas rights or profits, water rights, and fixtures now or subsequently a part of the property.  All of the foregoing is referred to in this Security Instrument as the “Property.”  

BORROWER REPRESENTS, WARRANTS, COVENANTS, AND AGREES that: (i) Borrower lawfully owns and possesses the Property conveyed in this Security Instrument in fee simple or lawfully has the right to use and occupy the Property under a leasehold estate; (ii) Borrower has the right to mortgage, grant, and convey the Property or Borrower’s leasehold interest in the Property, subject to any existing senior encumbrances; and (iii) the Property is unencumbered, and not subject to any other ownership interest in the Property, except for encumbrances and ownership interests of record.  Borrower warrants generally the title to the Property and covenants and agrees to defend the title to the Property against all claims and demands, subject to any encumbrances and ownership interests of record as of Loan closing.

THIS SECURITY INSTRUMENT combines uniform covenants for national use with limited variations and non-uniform covenants that reflect specific Minnesota state requirements to constitute a uniform security instrument covering real property.

UNIFORM COVENANTS.  Borrower and Lender covenant and agree as follows:
1.  Payment of Principal, Interest, Prepayment Charges, and Late Charges.  Borrower will pay each Periodic Payment, if any, when due.  Borrower will also pay any prepayment charges and late charges due under the Note, and any other amounts due under this Security Instrument.  Payments due under the Note and this Security Instrument must be made in U.S. currency.
Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 11.
Any offset or claim that Borrower may have now or in the future against Lender will not relieve Borrower from making the full amount of all payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument.
2.  Application of Payments or Proceeds.  Except as otherwise described in this Section 2, all payments accepted and applied by Lender will be applied in the following order of priority (a) interest due under the Note (if any), and (b) principal due under the Note.  Such payments will be applied to each Periodic Payment, if any, in the order in which it became due.  Any remaining amounts will be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note.
3.  Prior Security Instruments; Charges; Liens.  Borrower will perform all of Borrower's obligations under any security instrument with a lien which has priority over the lien of this Security Instrument, including Borrower's covenants to make payments when due.  Lender and Borrower each recognize that provisions in this Security Instrument give Lender certain rights with respect to the Property and to the receipt of certain funds, including the right to receive payment of insurance proceeds and other Miscellaneous Proceeds and the use and application of the proceeds, including the right to hold and disburse the proceeds, and that these rights are subject to the terms of any security instrument with a lien which has priority over the lien of this Security Instrument.  Borrower must pay (a) all taxes, assessments, charges, fines, and impositions attributable to the Property which have priority or may attain priority over this Security Instrument, (b) leasehold payments or ground rents on the Property, if any, and (c) Community Association Dues, Fees, and Assessments, if any.
4.  Property Insurance.
(a) Insurance Requirements; Coverages.  Borrower must keep the improvements now existing or subsequently erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes, winds, and floods, for which Lender requires insurance.  Borrower must maintain the types of insurance Lender requires, all in accordance with the terms of any security instrument which has a lien that has priority over this Security Instrument.  This insurance must be maintained in the amounts (including deductible levels) and for the periods that Lender requires.  What Lender requires pursuant to the preceding sentences can change during the term of the Loan, and may exceed any minimum coverage required by Applicable Law.  Borrower may choose the insurance carrier providing the insurance, subject to Lender’s right to disapprove Borrower’s choice, which right will not be exercised unreasonably.
(b) Failure to Maintain Insurance.  If Lender has a reasonable basis to believe that Borrower has failed to maintain any of the required insurance coverages described above, Lender may obtain insurance coverage, at Lender's option and at Borrower's expense.  Lender is under no obligation to purchase any particular type or amount of coverage.  Any such coverage will insure Lender, but might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard, or liability and might provide greater or lesser coverage than was previously in effect.
(c) Insurance Policies.  All insurance policies required by Lender and renewals of such policies: (i) will be subject to Lender's right to disapprove such policies; (ii) must include a standard mortgage clause; and (iii) must name Lender as mortgagee and/or as an additional loss payee in the order of the priority of its lien.
5.  Preservation, Maintenance, and Protection of the Property; Inspections.  Borrower will not destroy, damage, or impair the Property, allow the Property to deteriorate, or commit waste on the Property.  Whether or not Borrower is residing in the Property, Borrower must maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition.
Lender may make reasonable entries upon and inspections of the Property.  If Lender has reasonable cause, Lender may inspect the interior of the improvements on the Property.  Lender will give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause.
6.  Protection of Lender's Interest in the Property and Rights Under this Security Instrument.
(a) Protection of Lender’s Interest.  If: (i) Borrower fails to perform the covenants and agreements contained in this Security Instrument; (ii) there is a legal proceeding or government order that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien that has priority or may attain priority over this Security Instrument, or to enforce laws or regulations); or (iii) Lender reasonably believes that Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and/or rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property.
Lender's actions may include, but are not limited to: (I) paying any sums secured by a lien that has priority or may attain priority over this Security Instrument; (II) appearing in court; and (III) paying: (A) reasonable attorneys' fees and costs; (B) property inspection and valuation fees; and (C) other fees incurred for the purpose of protecting Lender’s interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding.  Securing the Property includes, but is not limited to, exterior and interior inspections of the Property, entering the Property to make repairs, changing locks, replacing or boarding up doors and windows, draining water from pipes, eliminating building or other code violations or dangerous conditions, and having utilities turned on or off.  Although Lender may take action under this Section 6, Lender is not required to do so and is not under any duty or obligation to do so.  Lender will not be liable for not taking any or all actions authorized under this Section 6.
(b) Additional Amounts Secured.  Any amounts disbursed by Lender under this Section 6 will become additional debt of Borrower secured by this Security Instrument.  These amounts may bear interest at the Note rate (if any) from the date of disbursement and will be payable, with such interest, upon notice from Lender to Borrower requesting payment.
(c) Leasehold Terms.  If this Security Instrument is on a leasehold, Borrower will comply with all the provisions of the lease.  If Borrower acquires fee title to the Property, the leasehold and the fee title will not merge unless Lender agrees to the merger in writing.
7.  Assignment and Application of Miscellaneous Proceeds; Forfeiture.
(a) Assignment of Miscellaneous Proceeds.  Borrower is unconditionally assigning the right to receive all Miscellaneous Proceeds to Lender and agrees that such amounts will be paid to Lender.
(b) Application of Miscellaneous Proceeds upon Damage to Property.  If the Property is damaged, any Miscellaneous Proceeds will be applied to restoration or repair of the Property, if Lender deems the restoration or repair to be economically feasible and Lender's security will not be lessened by such restoration or repair.  During such repair and restoration period, Lender will have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect the Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection must be undertaken promptly.  Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed, depending on the size of the repair or restoration, the terms of the repair agreement, and whether Borrower is in Default on the Loan.  Lender may make such disbursements directly to Borrower, to the person repairing or restoring the Property, or payable jointly to both.  Unless Lender and Borrower agree in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender will not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds.  If Lender deems the restoration or repair not to be economically feasible or Lender's security would be lessened by such restoration or repair, the Miscellaneous Proceeds will be applied (i) to the sums secured by the first lien security instrument, and (ii) to the sums secured by the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
(c) Application of Miscellaneous Proceeds upon Total Taking of Property.  In the event of a total taking, destruction, or loss in value of the Property, all of the Miscellaneous Proceeds will be applied (i) to the sums secured by the first lien security instrument, and (ii) to the sums secured by the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
(d) Proceeding Affecting Lender’s Interest in the Property.  Borrower will be in Default if any action or proceeding begins, whether civil or criminal, that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument.  Borrower can cure such a Default and, if acceleration has occurred, reinstate as provided in Section 15, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument.  Borrower is unconditionally assigning to Lender the proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property, which proceeds will be paid to Lender.
8.  Borrower Not Released; Forbearance by Lender Not a Waiver.  Borrower or any Successor in Interest of Borrower will not be released from liability under this Security Instrument if Lender extends the time for payment or modifies the amortization of the sums secured by this Security Instrument.  Lender will not be required to commence proceedings against any Successor in Interest of Borrower, or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument, by reason of any demand made by the original Borrower or any Successors in Interest of Borrower.  Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities, or Successors in Interest of Borrower or in amounts less than the amount then due, will not be a waiver of, or preclude the exercise of, any right or remedy by Lender.
9.  Joint and Several Liability; Signatories; Successors and Assigns Bound.  Borrower's obligations and liability under this Security Instrument will be joint and several.  However, any Borrower who signs this Security Instrument but does not sign the Note: (a) signs this Security Instrument to mortgage, grant, and convey such Borrower’s interest in the Property under the terms of this Security Instrument; (b) signs this Security Instrument to waive any applicable inchoate rights such as dower and curtesy and any available homestead exemptions; (c) signs this Security Instrument to assign any Miscellaneous Proceeds, rents, or other earnings from the Property to Lender; (d) is not personally obligated to pay the sums due under the Note or this Security Instrument; and (e) agrees that Lender and any other Borrower can agree to extend, modify, forbear, or make any accommodations with regard to the terms of the Note or this Security Instrument without such Borrower’s consent and without affecting such Borrower’s obligations under this Security Instrument.
Subject to the provisions of Section 14, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, will obtain all of Borrower's rights, obligations, and benefits under this Security Instrument.  Borrower will not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing.
10.  Loan Charges.  If permitted under Applicable Law, Lender may charge Borrower fees for services performed in connection with Borrower's Default to protect Lender's interest in the Property and rights under this Security Instrument, including: (i) reasonable attorneys' fees and costs; (ii) property inspection, valuation, mediation, and loss mitigation fees; and (iii) other related fees.
If Applicable Law sets maximum loan charges, and that law is finally interpreted so that the interest, if any, or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then (i) any such loan charge will be reduced by the amount necessary to reduce the charge to the permitted limit, and (ii) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower.  Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower.  If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note).  To the extent permitted by Applicable Law, Borrower’s acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge.
11.  Notices; Borrower’s Physical Address.  All notices given by Borrower or Lender in connection with this Security Instrument must be in writing.  
(a) Notices to Borrower.  Unless Applicable Law requires a different method, any written notice to Borrower in connection with this Security Instrument will be deemed to have been given to Borrower when (i) mailed by first class mail, or (ii) actually delivered to Borrower’s Notice Address (as defined in Section 11(c) below) if sent by means other than first class mail or Electronic Communication (as defined in Section 11(b) below).  Notice to any one Borrower will constitute notice to all Borrowers unless Applicable Law expressly requires otherwise.  If any notice to Borrower required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 
(b) Electronic Notice to Borrower.  Unless another delivery method is required by Applicable Law, Lender may provide notice to Borrower by e-mail or other electronic communication (“Electronic Communication”) if: (i) agreed to by Lender and Borrower in writing; (ii) Borrower has provided Lender with Borrower’s e-mail or other electronic address (“Electronic Address”); (iii) Lender provides Borrower with the option to receive notices by first class mail or by other non-Electronic Communication instead of by Electronic Communication; and (iv) Lender otherwise complies with Applicable Law.  Any notice to Borrower sent by Electronic Communication in connection with this Security Instrument will be deemed to have been given to Borrower when sent unless Lender becomes aware that such notice is not delivered.  If Lender becomes aware that any notice sent by Electronic Communication is not delivered, Lender will resend such communication to Borrower by first class mail or by other non-Electronic Communication.  Borrower may withdraw the agreement to receive Electronic Communications from Lender at any time by providing written notice to Lender of Borrower’s withdrawal of such agreement.
(c) Borrower’s Notice Address.  The address to which Lender will send Borrower notice (“Notice Address”) will be the Property Address unless Borrower has designated a different address by written notice to Lender.  If Lender and Borrower have agreed that notice may be given by Electronic Communication, then Borrower may designate an Electronic Address as Notice Address.  Borrower will promptly notify Lender of Borrower’s change of Notice Address, including any changes to Borrower’s Electronic Address if designated as Notice Address.  If Lender specifies a procedure for reporting Borrower’s change of Notice Address, then Borrower will report a change of Notice Address only through that specified procedure.
(d) Notices to Lender.  Any notice to Lender will be given by delivering it or by mailing it by first class mail to Lender’s address stated in this Security Instrument unless Lender has designated another address (including an Electronic Address) by notice to Borrower.  Any notice in connection with this Security Instrument will be deemed to have been given to Lender only when actually received by Lender at Lender’s designated address (which may include an Electronic Address).  If any notice to Lender required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument.
(e) Borrower’s Physical Address.  In addition to the designated Notice Address, Borrower will provide Lender with the address where Borrower physically resides, if different from the Property Address, and notify Lender whenever this address changes.
12.  Governing Law; Severability; Rules of Construction.  This Security Instrument is governed by federal law and the law of the State of Minnesota.  All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law.  If any provision of this Security Instrument or the Note conflicts with Applicable Law (i) such conflict will not affect other provisions of this Security Instrument or the Note that can be given effect without the conflicting provision, and (ii) such conflicting provision, to the extent possible, will be considered modified to comply with Applicable Law.  Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence should not be construed as a prohibition against agreement by contract.  Any action required under this Security Instrument to be made in accordance with Applicable Law is to be made in accordance with the Applicable Law in effect at the time the action is undertaken.
As used in this Security Instrument: (a) words in the singular will mean and include the plural and vice versa; (b) the word “may” gives sole discretion without any obligation to take any action; (c) any reference to “Section” in this document refers to Sections contained in this Security Instrument unless otherwise noted; and (d) the headings and captions are inserted for convenience of reference and do not define, limit, or describe the scope or intent of this Security Instrument or any particular Section, paragraph, or provision.
13.  Borrower's Copy.  One Borrower will be given one conformed copy of the Note and of this Security Instrument at the time such documents are executed or within a reasonable time thereafter.
14.  Transfer of the Property or a Beneficial Interest in Borrower.  For purposes of this Section 14 only, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract, or escrow agreement, the intent of which is the transfer of title by Borrower to a purchaser at a future date.
If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument.  However, Lender will not exercise this option if such exercise is prohibited by Applicable Law.
If Lender exercises this option, Lender will give Borrower notice of acceleration.  The notice will provide a period of not less than 30 days from the date the notice is given in accordance with Section 11 within which Borrower must pay all sums secured by this Security Instrument.  If Borrower fails to pay these sums prior to, or upon, the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower and will be entitled to collect all expenses incurred in pursuing such remedies, including, but not limited to: (a) reasonable attorneys’ fees and costs; (b) property inspection and valuation fees; and (c) other fees incurred to protect Lender’s Interest in the Property and/or rights under this Security Instrument.
15.  Borrower's Right to Reinstate the Loan after Acceleration.  If Borrower meets certain conditions, Borrower will have the right to reinstate the Loan and have enforcement of this Security Instrument discontinued at any time up to the later of (a) five days before any foreclosure sale of the Property, or (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate.  This right to reinstate will not apply in the case of acceleration under Section 14.
To reinstate the Loan, Borrower must satisfy all of the following conditions: (aa) pay Lender all sums that then would be due under this Security Instrument and the Note as if no acceleration had occurred; (bb) cure any Default of any other covenants or agreements under this Security Instrument or the Note; (cc) pay all expenses incurred in enforcing this Security Instrument or the Note, including, but not limited to: (i) reasonable attorneys' fees and costs; (ii) property inspection and valuation fees; and (iii) other fees incurred to protect Lender’s interest in the Property and/or rights under this Security Instrument or the Note; and (dd) take such action as Lender may reasonably require to assure that Lender's interest in the Property and/or rights under this Security Instrument or the Note, and Borrower's obligation to pay the sums secured by this Security Instrument or the Note, will continue unchanged.
Upon Borrower’s reinstatement of the Loan, this Security Instrument and obligations secured by this Security Instrument will remain fully effective as if no acceleration had occurred.
16.  Sale of Note.  The Note or a partial interest in the Note, together with this Security Instrument, may be sold or otherwise transferred one or more times.  Upon such a sale or other transfer, all of Lender’s rights and obligations under this Security Instrument will convey to Lender’s successors and assigns.
17.  Loan Servicer.  Lender may take any action permitted under this Security Instrument through the Loan Servicer or another authorized representative, such as a sub-servicer.  Borrower understands that the Loan Servicer or other authorized representative of Lender has the right and authority to take any such action.
The Loan Servicer may change one or more times during the term of the Note.  The Loan Servicer may or may not be the holder of the Note.  The Loan Servicer has the right and authority to: (a) collect Periodic Payments and any other amounts due under the Note and this Security Instrument; (b) perform any other mortgage loan servicing obligations; and (c) exercise any rights under the Note, this Security Instrument, and Applicable Law on behalf of Lender.  If required by Applicable Law, Borrower will receive notice of any change in the Loan Servicer.
18.  Notice of Grievance.  Until Borrower or Lender has notified the other party (in accordance with Section 11) of an alleged breach and afforded the other party a reasonable period after the giving of such notice to take corrective action, neither Borrower nor Lender may commence, join, or be joined to any judicial action (either as an individual litigant or a member of a class) that (a) arises from the other party's actions pursuant to this Security Instrument or the Note, or (b) alleges that the other party has breached any provision of this Security Instrument or the Note.  If Applicable Law provides a time period that must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this Section 18.  The notice of Default given to Borrower pursuant to Section 20(a) and the notice of acceleration given to Borrower pursuant to Section 14 will be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 18.
19.  Electronic Note Signed with Borrower’s Electronic Signature.  If the Note evidencing the debt for this Loan is electronic, Borrower acknowledges and represents to Lender that Borrower: (a) expressly consented and intended to sign the electronic Note using an Electronic Signature adopted by Borrower (“Borrower’s Electronic Signature”) instead of signing a paper Note with Borrower’s written pen and ink signature; (b) did not withdraw Borrower’s express consent to sign the electronic Note using Borrower’s Electronic Signature; (c) understood that by signing the electronic Note using Borrower’s Electronic Signature, Borrower promised to pay the debt evidenced by the electronic Note in accordance with its terms; and (d) signed the electronic Note with Borrower’s Electronic Signature with the intent and understanding that by doing so, Borrower promised to pay the debt evidenced by the electronic Note in accordance with its terms.
NON-UNIFORM COVENANTS.  Borrower and Lender further covenant and agree as follows:
20.  Acceleration; Remedies.
(a) Notice of Default.  Lender will give a notice of Default to Borrower prior to acceleration following Borrower’s Default, except that such notice of Default will not be sent when Lender exercises its right under Section 14 unless Applicable Law provides otherwise.  The notice will specify, in addition to any other information required by Applicable Law: (i) the Default; (ii) the action required to cure the Default; (iii) a date, not less than 30 days (or as otherwise specified by Applicable Law) from the date the notice is given to Borrower, by which the Default must be cured; (iv) that failure to cure the Default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property; (v) Borrower’s right to reinstate after acceleration; and (vi) Borrower’s right to bring a court action to deny the existence of a Default or to assert any other defense of Borrower to acceleration and sale.
(b) Acceleration; Power of Sale; Expenses.  If the Default is not cured on or before the date specified in the notice, Lender may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law.  Lender will be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 20, including, but not limited to: (i) reasonable attorneys’ fees and costs; (ii) property inspection and valuation fees; and (iii) other fees incurred to protect Lender’s interest in the Property and/or rights under this Security Instrument.
(c) Notice of Sale; Sale of Property.  If Lender invokes the power of sale, Lender will cause a copy of a notice of sale to be served upon any person in possession of the Property.  Lender will publish a notice of sale, and the Property will be sold at public auction in the manner prescribed by Applicable Law.  Lender or its designee may purchase the Property at any sale.  The proceeds of the sale will be applied in the following order: (i) to all expenses of the sale, including, but not limited to, reasonable attorneys’ fees; (ii) to all sums secured by this Security Instrument; and (iii) any excess to the person or persons legally entitled to it.
21.  Release.  Upon payment of all sums secured by this Security Instrument, Lender will discharge this Security Instrument.  Borrower will pay any recordation costs associated with such release.  Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law.
22.  Waiver of Homestead.  Borrower waives all right of homestead exemption in the Property.
23.  Interest on Advances.  The interest rate on advances made by Lender under this Security Instrument will not exceed the maximum rate allowed by Applicable Law.

BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider signed by Borrower and recorded with it.
[Borrower Full Name 1]				(Seal)	
Borrower’s Name		Borrower’s Signature			
[Borrower Full Name 2]				(Seal)	
Borrower’s Name		Borrower’s Signature			
[Borrower Full Name 3]				(Seal)	
Borrower’s Name		Borrower’s Signature			
[Borrower Full Name 4]				(Seal)	
Borrower’s Name		Borrower’s Signature			
[Additional Mortgagor 1]				(Seal)	
Mortgagor’s Name		Mortgagor’s Signature			
[Additional Mortgagor 2]				(Seal)	
Mortgagor’s Name		Mortgagor’s Signature			

__________________ [Space Below This Line For Acknowledgment] ___________________

ss.

This instrument was acknowledged before me this               day of 	,
	, by 	,
					                                                 Notary Public

TIL and NMLS ID
	
[Lender Name]		[Loan Officer]	
Loan Originator Company Name		Loan Originator Individual Name 
(as name appears on NMLS)
	
[Lender Company NMLS ID]		[Loan Officer NMLS ID]	
Loan Originator Company NMLS ID		Loan Originator Individual NMLS ID
(if applicable)	
Drafted by: 
	Minnesota Housing Finance Agency
	400 Wabasha Street North, Suite 400
St. Paul, Minnesota 55102