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<br /> � 14. UEFAULT, Tn�st i wlll bc in dcfuul�.i(nny purty obNgntnd on thc Srcum�d L�etit fnils tcr mnke payment when due. 'frustor �-
<br /> will by ln defwvlt,�f n brcach accute at�ler the terms ot tltir�Security Instnimrs�t or nny other document executed for the -
<br /> I pu►ywsb of creatiug securing orguarnntying the Secured�ebt. A good f�dth bt•liof by Benet`.ciary thiu Qeneficiary at any �
<br /> i time is insesure widi�eapect to any person or en[ity oUligna�:d on Au: St�;umnl L��bt or that the pros�ect af any pbyrneut �t • �_
<br /> � the vnlue af"tl�e Propeny ie impaircd sh�ll s�lso�:anstitute an cv��nt of dcfeult. . ;,
<br /> IS. R�Wl�DY� �1V Y)�CA�JL'G'. In some instiutcr:s, federul and ste�e law u�ill ruquire Beneficiary to provide Trustar with
<br /> ; noticz of the right to cure or other notices and may esinblisb dmr sclitxlultr for foreclosnre actions. Subject tu thesc '
<br /> limitations, if any, Beneficinry may acceterate the Secuned Debt ancl fntrrli►cc th1A Security Instrument in a rnuiner ° ,
<br /> provided by law Iti Trustor is in default. .. ••
<br /> � At the o tion of Beneficiary, all or an part of th�A rec�d fees ancl cl�n� �s, accnied interest and tincipal shall becorne •� �
<br /> immedia ely due and payable, ufter giving natic� i� requirod by la�v,aup�n thc oc:currence ofpa default or anytime
<br /> � tttereafter. In additioa,Ben�ficiury shall be eatided to nll Qte rrmedi�pro��Icied by luw, the terms of the Sec:ured Debt, . "'. �
<br /> -� this Sc�curity Instnunent and any related documents,includina withnnt limitncinn,the power to sell the Propeny. ..j;.�.,-
<br /> If there is a default,Trustee shall, in additIon to any oth�rr pr.rmin�l m+n�xlp, at the mquest of the Heneficiary,advertise "��«��
<br /> and sell the Property as a whole or in sep�te pazcels et p�ibllc auction to din hiBhest bidder for cash and convey absolute '"
<br /> title free and clear of all right.title and interest of Trustor nt such drne�tnd pincc ns Trustee deslgnates. Trustee shall give ' ,:'��;;�,.
<br /> notice of sale including the tlme, tertns and place of sal�r and a deccnpti�n n!'the pmprrty ro be sold as tequired by the -==- ..�—
<br /> applicable law in effect at the time of the proposed sale. .
<br /> Upon sale of the property and to the eatent aot prohibid:d by law,Truettre slnull make and deliver a deed to the Pzoperty
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<br /> sold wluch conveys absolute tttle to the purchaser, and after firnt pt�yln� all fees, chazges and costs, shall pay to =
<br /> Beneficiary all moneys advanced for repairs, taxes, isonrdnce. liens, as.,c:��ments and pdor eacumbrances and iaterest ••_
<br /> thereon, and the principal and lnterest on the Secured Uebt, payinE the sn�plus, If any, to Trustor. Beneficiary may , ---
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<br /> purchase the Property.'Ihe recitals Ia any deed of wnveponr.e shall be primfl f:lcie evidence of the facu set fonh therein. . ��---
<br /> All reme3ies are distinct. cumulative and not exclusive, and tlie Beaefieiavy is entitled to all remedles providod at la�v or •
<br /> equiry.whether or not eapresszy set farth.Tbc a�ceptancc by Beneficiary of�ny sum in payment or part�al paymeat oa the . �
<br /> . � , Secured Debt after the balano�is due or is accelerated or ufter farcclusutn proceedings are filed s6a11 not con�dtute a ., .�
<br /> • �;. waiver af Beneficiary's right to require complete cure of any eaisdn�default. By not exercising any remody an Trustor's �
<br /> � default,Beneficiary does not waive Beneficiary's right ta�later c.�nsidor die event a default tf it continues or happeas again. ;,
<br /> �4' 16. EXPENSES; ADVANCES ON COVENANTS; A'f"�`U+Yd1VTil'S' FE�.S; COLLEGTION COSTS. Except when � i� '
<br /> probibited by law, Trustor agrees to pay all of Beneficiary's expense�if Tiustor breaches Any covcnant in this Security �� '
<br /> — Insuument. Tcustor will also pay on demand any amount incurred by��Benet'sciary for inswin�, insgecting,pr�erving or .
<br /> � otherwise protecting the Property and Beneficiary's secuizty intexrs�, 'I�t��c:v.penses will bear wterest from the date of the � r •�'�,
<br /> �. payment until pnicl ia full at the liighesc intemst rate in etfect as provndo�in the terms of the Secured Debt.Trusror agrees =�, , ,
<br /> to pay aU costs and expenses lncurred b3r Beneficiary !n collocdng, enfr��cing or protecting B�neficiary's rights aud „:�
<br /> remedies under thas Security Instrument.Thes amount mny include,but te nat lunIted to, attomeys' fees, wurt coste,and t
<br /> ,' 'L other 1egal expenses. 'Ihis Security Ir,strunaent sh�ll r�,iauin in effiri uu[il released. Tnuror agrees to pay for any �
<br /> "''�� ;� recotdation casts of such release. '`1},•; ;
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<br /> ''.�'r•'� " 17. ENVatONI�NTAL LAWS AND HAZARDOUS SElB�TANCES. A.s vsed in thie section, (1) EnvimnmentalLaw ��'`
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<br /> �� meaas, without limitation, the Comprehensive Environn�ntal Rc:spon�e, Q�mpeasatian und Liability Act (CERCLA, 42
<br /> ��• U.S.C. 9601 et seq.),and all other federal, state and lucul laws,regidr�tlans, ordinances, court orders, attomey geaeral '
<br /> �r opinions or interpmtive letters conceming the public heait4�,safety,we�lf�tra,environment or a haztvdous substence;and(2) ---_-- '
<br /> � Hazardous Substance means any toxic. radioactive or h�aatirdous mxterinl, waste, poIlutant or contazninant which has � .
<br /> charactedstics which render the substance dangerous or poteuti�lly d�►gsrous ro We public health, safery, welfare or -_ =�=-
<br /> eavironment. The term iucludes, without limitation, an1 substwces definpd as "hazardoue material," "toxic substances." - -
<br /> "hazardous waste"or"hazuduus substance"uader any�►vironmm�inD I.atiti�_ - -
<br /> Trustor represents,warrants and a�rees that: -'-`'.__
<br /> . -.,�:.�;, A.Except as previously disclosed and acknowledged in writing to Bez�e6ciary, no Hazardous Substance is or will be ,;�;.:.,
<br /> � ; located. stored or released on or in the Property. Tliis restriction dnes not apply to small quantities of 3�Iazatdous -_.—"
<br /> ;�;�:;;, S�bstances that are generally recosuized to be ap cvpi-iate fur Qit�nunnul use anc�maintenance of the Property. �'�_��
<br /> B.Ea t as previously disclosed and acknowledg�iu writing ta Benr�.ciary.Trustor end every tenant have been,ane, ' _ -_ - �
<br /> ' ,_ � and�all remain in full wmpliance with any appIicnble BnvironrnentEd Law.
<br /> C.Trustor shall immediately notify Beneficlary�f a release or thn:stenod release of a Hazardous Substance occuis on, �=�
<br /> ' , under or about the Prop�rty or there is a violation of any Envrronmental Law concerning the Property. In such an .'�_;�: _
<br /> � event,Trustor shall take all necessary remedial actIon in accordavo����ith eny Environmental Law. - ;�� • ' ' � •
<br /> - ° D.Tmstor shall iuunediatel�+notify BeneficIary in�vriting as soou as Ttustor has r�eason to believe there is a�►y pending ,,�o�„��:�_ - y
<br /> or threatened lnvestigation, cla�m, or proceeding �lating to the rr.lease or threutened release of an Nazardous ' :�``�"�r;�:"�'��..
<br /> S u b s t u n ce or t h e v i o l a t io n o f any Environmen t a l l.a���. Y • � . '�"�'%��+�;;�,
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<br /> 18. CONDED�INATfON.Trustor will give Beneficiary prompt notice of amy pending or threatened actlan,by private or public - . � '
<br /> eutitIcs to purchase or take any or all of the Property throuuh ceadcmnftiun,eminent domain,or any other means.Tnt�tor ' �
<br /> , •:..�. authorizes Beneficiary to intervene in Trustor's name jn ana of the a�no��,�:descriheca actions or claims. Trustor assigns to `'�`�'.,��n ' �
<br /> Beneficiary the proceeds of any award or claim for damages connocteal tiveth a condemnation or other taking of all or any ..
<br /> part of the Propertx. Sucb pnxeeds shall be wnsldered puym��r an� will be applial as provided in this Secvrity
<br /> Instrument. This ass�gnment of proceeds is subject to the tenms of nn}� p�i.or mortgage,deed of trust. security agrcement or
<br /> other lien documen¢. ,
<br /> 19. INS[JRANCE.Ttustor shall keep Property insured against l�ss by fin:,Ilnod,theft and other hazards and risks reasonably �
<br /> associated with the Property due to its type and location. 7'his insurunae shall be maintained in the amounts and for the �
<br /> periods that Beneficiary requu�es. The insurance carrIcr pn�viding the ix�sm�ance shall be chosen by Trustor subject to
<br /> Beneficiary's a�proval, which shall not be unreasonably withheld. If 7'rustox fails to maintain the coverage described
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<br /> 1 to the terms ofih�9$@CUtj[Y IIISI jrutneni.,����V", vv�n wvcin�c iu jiiiiir,i;i onicnc�ary s rignis m cne rropetry BCCOf01Rs �-
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<br /> � All insurance p�licies and renewals shall be aaeptable to Beneficiary and shall include a standard "mongage clause"and, " '
<br /> where applicable, "loss payee clause." Trustor shaU immediutcf� notily Beneficiary of canceUation or teimination of the �
<br /> � insurance. B�neficiary shall have the right to hold the polic�c��r.+;1 ��enewals. If Beneficiary rcquires, Trustor shall '
<br /> ' immediately give to Beneficiary all receipts of paid premiutn, an� n;newal noticcs. Upon loss, Trustor shall give �
<br /> � immediate notice to the insuranc;e earrier and Ben�f��a*y RrneftciarV mf.y make proof of loss if not made immecliately by
<br /> � Trustor.
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<br /> ��G94 Benkere Syrtame.me.,S�Clovd.MN fl�QpQ-J97 2J471 Fam RE OT NE I1Q3:96 �
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