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<br /> lA. DGFAULT.Trustor will be in default if� any p�rty oblignted on thc Securcd Qcbt fails to mukc paymcnt whcn duc.T�ustur I ; ��+�
<br /> wlll be in defaul3 if n bteacli oecurr�under the terfis of this Security lnstrument or any other dacuinent executed for chc __.
<br /> • purpose of creadn�,seeuring or guaraneon o r�ont s�obll ntedton the 5ecurec!nebt or th t he prospecnt of nny pny[n�nt°r T
<br /> timc ie insecure wuh respccl to My pe Y B t`
<br /> the vuluc of thc PropeRy is 1mp�Ired shall also consdroce an event of default.
<br /> �5. RBM�UI�:S OIV D�FAYJI.'Y'• in somc instances. fedcral and stRte law will require Bcneficinry to pravidc Trustcaa with -_
<br /> notice of the right to cure or other notices and muy estnblish time schedules for foreclosure netions. Sub�ect tc� thesc . .
<br /> iimltatlons, if nny, HeneCiclarydefaultn�lerate the Secured Aebt attd fareclose this Security Instniment �n a manner _
<br /> , provided by law if Trustor is in _
<br /> At the option of Beneficiary, all or any �arc of the agrced fees und charges, accrued interest and princi al shnll b�:come ,
<br /> immediately due and payable. aft shall bc entitled to allRthe mm�ies provided by lawu the erms of theU3ecured D b� � � •
<br /> thcrc:after. In addldon, aeneSciary ' „ „
<br /> thls Securlty Instrument and any related documents,lnc iu d ing wi t hoa t l i ra i t a t i o n,t h e p o w c r t o s e l l t h e P r o p e r t y.
<br /> If thcre is a defnult,Trustee shnll. in addition to any other pemutted remedy,at the request of the Heaeficiary, advertise ;I , :;�;�:;.E�:
<br /> and sell the Property as a whole or in separate parcels at public auction to the hi�hest bidder for cash and wnvey absolute �� �_r,���_=��x
<br /> tide free and clear of all dght. tide aad intemst of Trustor at such time and pluce as Tcustee designates. Trustee shall give �I :,.,_L�_�_
<br /> , applic ble awiin effec�at�theit�ime of the proposed Sale�e and a description of the property to be sold as requii�ed by tlie � �c,_,��_`:,;,..
<br /> o the extent not rohibitcd by lau,Trustee shall mnke and deliver a de.ed ro th+:FropCrtY �! ':;.:,��!
<br /> Upon sale of the property and t
<br /> sold whlch coaveys absnlute tide to the purc aser, attd after Ii�t�P�a sessro 1 ts and p oreencumbrances Sattd. �nterest {, `-� `
<br /> Beneficiary all moneys advanced for repairs, taxes, insurance. ' .��::�;����
<br /> therean, and the princip e�i�tal�st�anY d�of conv�e ance�shall be�rima fac e e'vidence of the acts set forth d�trein�fly •�' '+t;�,�'t�a;`�`��— --
<br /> puechase the PropertY•Th Y P � ,;:.� :.;,�. ,
<br /> pU remedies aze distinct,cumulative xnd not eaclusive, and the Beneficiary is entitled to all remedi�s�rovided at law or � ;; .�� '°�'•�
<br /> equiry,whether or uot expressly set forth.The acceptance bY Benefic3sry of any sum in payment or partial paym.�nt on the
<br /> � Secured Debt after the balance is due or is accelerated or after forPClosum procc�din�s are t'iled shali not canstimte a
<br /> waiver of Beneficiary's right to require complete cure of any existing default.By not exerclsin�any remedy on Trustor's ;_.,_;r,�.
<br /> default.Deneficiary dces not weive Beneficiary's right to later wnsider the event a default if it continues or h:ippens again• ,.:t�.:�;;;,, '
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<br /> �• 16. EXPEIVSES; ADVANCFS ON COVENANTS; AT!'ORNF:YS' FEFS; COLLECTION COSTS. �xccpt when :At�y¢:,;� �, .
<br /> ___ _ g.��}t+gtat hy law:Trustor a�rees ro pay all of Beneficiary s expenses�f Trustor breaches any coc enanton meeeN�e�0i ���'• '����`_i�.•
<br /> . Inst:ument. Trustor wlll also pay on demand any�amouni u�c���b�..��fi�i:.r;for ln...u�,�, in.�^^t�o.
<br /> otherwise protectin�the Propecty and Beneficiary s security interest. ese expenses will bear mterest from t}a.c date of ttte •. ,:?�?-.�•'•�''
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<br /> payment until paid in full at the higkest interest rate in effect as provided in the terms of the Securecl Debt.Ttuctor a�reQS r. _ , , ;, „
<br /> to pa all costs and expenses iucurred by Benefici.�ry in,collectiug, enforcing.or protectin� Beneficiary's ri�hte and �
<br /> re es under this Securiry Instrument•'d'inis am°un4�►1y�clude,but is not linuted to, attaneys' fees,court costs, and �1;,;�'`
<br /> other le al eapenses• 'I�is Security Insteument shall remam in etfect untll released. Trustor agrees to pay for any
<br /> recordat�on costs of such release. �`� .
<br /> , ;;::'._� . . (1) Enviconmcntal Law
<br /> ...r ; ., 17. IENVatONMENTAL LAl16�S AND HAZARD�U� SUBSTANCES. As used in this section,
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<br /> '.�;,f�,��y•• means, without limitarion, s3�e Comprehensive Environment�il Response, Campensation and Liability Act(CERCLA. 4?.
<br /> . . U.S.C. 9601 et seq.), tsnd all other federal,state and local laws,regulations, ordinances, court orders, attomey genernl __
<br /> �� opinions or interpreuve letters conceming the public health,safety,welfue.environment or a hazardous subtttance:and(x) ■�__���
<br /> ° Hazardous S��bstance ineans any toxic, radioactive or hazardous material, waste. pollutant or wntaminnnt which has �
<br /> r characteristics which render the substance dangerous ar potentially dangerous to the public health, safeiy, welft►re or ��� �„_
<br /> F envlronment. 1Ue term includes, without limitation, anny substances defined as "hazardou9 matedal," "toxic substances, �,.��
<br /> - "hazardous waste"or"hazardous substance"under any Environmental Law. �-"���
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<br /> ` 'fYustor represents,warraats und agrees that: ---
<br /> ' A.Eacept as previously diselosed flc►cl ueknowledged in writing to Benefieiury, no Hazardous Substance is or wi.il b�e li;=_� __ --
<br /> ' located, srored or released on or in the Property.T1iis restrictian does not apply to smAll yuantities of Hazartlous �:.,_
<br />- " Substances that are generaily reco to be appropriate for the normal use and maintenance of the Property. r____
<br />- B.Except as previously disclosed an ackno�vledge�l in writing to Beneficiary,Trustor and every tenant have been, are. �:,���`_��-��
<br /> -ti;"�.``� .1C� '�d Shall remain in ful!compliance with at►Y applicable Environmental Law.
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<br />-�.r���:� �� C.Trustor shall immediately notify BeneHciazy if a release or threatened release of a Hazardous Substance occurs on, .'�:,{i';;LL`�`q
<br />-- � :�. under or atsout the Propetty or there is a violation of any Environmental Law concemin�the property. In such un W _
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<br /> - � " event.Trustor shall take all necessary remedta1 nction in accordance with any Environmentul Law. ,.,.�^�:
<br />+ ``'`•� D.TrustUr shall immediately nov Henefici in wrlting es soon as T�ustor has reas�n to believe there is any peuding ��;v;r: '� "_;;
<br /> t•::-.';�- or threatened invesN�anon, cla'�m, or proyceeding relnting to the release or threatened release of �►y Haz�'dous ` '-'�;}��t->^� a ��,
<br /> ,:,,,,��,; Substance or the violatioa of any Eavironmental Law. ,.r�,i;,.•_:�.�;..:.�,�.
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<br /> ' 18. CONDEIVIIVATION.Tnistor will give Beneficiary prompt aotice of uiy pendin�or threatened actian,by private or public , •• : .,
<br /> entities to purchase or take any or all of the Property through condemnation,eminent domnin,or any odier mcans.'[Yustor ,,.
<br /> authorizes Beneficiary to intervene ia Trustor's name in any of the above described actions or claims. Ttustor assigns tn . „
<br /> Beneficiary the proceeds of any award or claim for damages connected with a condemnution or other takSn�of all or anp ,. , �•
<br /> �� part of the Propert�+. 55�cfit proceeds shall be wnsidered puyments and will be applied as provided i� thls Securiry .��r.,,•.,, „
<br /> :;�,;.`;�� Instrument.'This assignment of proceeds is subject to the terms of any prior mortgage,dced of trust,security agreem�at ar ;,,,_,:�:,,�;.
<br /> . .. other lien document. '"t't'`�'
<br /> 19, INSI7RAMC�.Trustor shall k�ep Property inswed against loss by fire, flood,theft and other hazards and risks reasonaflfly
<br />— associated with the Froperty due to its type and location. This insurance shall be mnintained in die amounts and fur the .
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<br /> =. � periods that Beneficiary r�ec�utres. 'I7ie insurance c�rrier providing the insurance shall be chosen by Trustor snUjezt to
<br /> -• ____._. Beneficiary's approval, w�ich shall not be unreasanably withheld. If Tnutor fails to maintain the coverage described
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<br /> . _ . „___�_:__.�_ ,....:.... .a.,e;..�.,oprnaP rn nrntect Reneficiarv's rie2lts lil IhC PYODCrtY aCCOidIIIy�
<br /> - � - 1b0VC� nenenc�ar�y may.St ncuciwim�o.,y......�........-._...-'—o' '- c--�-- • — - - _ ... �
<br /> " to the tem�s of tbis Secunty Insmiment. f -
<br /> pll�nsurancego licies and reuewals shall be acce�table to Beneficiary and shall ia�clude a standard "moctgage clause" aQd, �
<br /> = where applicable, "loss payee dause."Trustor s6a11 imcnediately notifv Beneficiary of cancellatian or tcrnunation of die ,
<br /> - insurance. Beneficiary shali have the right to hold the policies and rencwals. If Beneficiary requires, Trustor sh�il
<br /> 1'irn�mediatelnorice to theinsuran�c.e carrier a d B�nefic ary B neficiary maynemake proof of os.��f not m de�immediately�by �
<br /> Trustor.
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<br /> mi994 Btnkero SYntam�,Inc-.St.Cloud.MN Il•800•397•23411 Form RE•DT-NE 3/7�N6 -
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