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<br />-.;.'=•� cxccutcd fur thc purp+�sc nf crcating,u:curing or gunru�ityin6 tl�c Sccurcd Dcbt. A gc�od faitl� t,clief'Ihy I�:ndcr thnt
<br /> ..4�;,,.�: Lcndcr nt any timc is insccurc with res�ct to uny �x:rson or cntity obligutcd nn thc 5ccured Dcht i�r thu►thc prospcct
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<br /> of nny paymcnt ur tha valuu of the Pro�x:rty is imp�iircd shall�Isv ccrostttute w�evcnt nf dcfault,
<br /> �� 15. REMFUIES Ol�!)I�:MAl1l.T.In somc intit�inces. fcdcral nnd statc law will rcquirc Lendcr to providc Grt�ntor with
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<br /> n m�tia: uf thc riFht t��curc or othcr nuticcs i►nd m�y cstablish timc schedulcs far foreclosurc i�ctions. Subjcct tu dicsc
<br /> �;�,s�;.
<br /> .�, _ limitationti,if .�ny, I.cndcr may acccicratc the Secured Debt and forecl��se this Sccurity Instrumcnt in a m�nner
<br />�'�'� providcd by law if tinmtor is in dcic�ult.
<br />=�;��i Ai the optian of[.�nder,aill or any purt of thc agreed fees and churges,�iccrucd interest and principid shall bemme
<br /> ��� immcdiute:ly duc and payable,after grving notice if required by I�w, upon thc occurrcnce of a dcfsiult or anytimc
<br /> — ther�:a[tcr. In��dditian,Lender shall ix entiticd to all the remedies pr�vided by law,the terms of thc 5ecurcd Debt,
<br /> �'°� this Sceurity Instrumcnt and any rclated documents,including without limitation,thc pawcr ta sep the Property.
<br /> �;.4,,,s�,.: If thcrc is a dcfault.Trustee shall,in addition to any other permitted remedy,at thc rcyucst of thc L.cndcr,advertisc
<br />_� ;, and sell the Property as a wholc or in separate parcels at public auction to the highesc biddcr for cash and convey
<br />- absolute title free und cicar of all right,title and intcrest of Grantor at such time and place as Trustec designates.
<br />__:�� Trustee shaU givc notice of s��►Ie including the time,terrns and place of sale and a description ot the property to bc sold
<br /> __„�� as reyuired by tl�e applicable law in effect ac the time of the proposed sale.
<br /> --_ --- Upon salc of thc prc�}x:rty and to the extent not prohibited by law.Trustee shall make and deliver a deed to thc Property
<br />-_— u�ld which conveys absolute title to the purchaser,and after first paying all fees.charges and costs,shall pay to Lender ull
<br /> - moneys advanced for rcpairs,taxes,insurance,liens,assessments and prior encumbrances and interest thereon,and the
<br /> �� principal and intcrest on the Secured De6t,paying the surplus,if any,to rrantor. Lender mny purchase the Property.
<br /> - Thc rccitals in any dccd of convcyanct:shall be prima facie evidence of the facts set forth thercin.
<br /> __— All remedies are distinct,cumulative and not exclusive,and the Lender is entitled to all remedies provided at law or
<br />=`�'�":� c uit ,whether or nol ex ressl set forth.The acce tancc b Lt:nder of an sum in a ment or artial a ment on the
<br /> 9 Y P Y P Y Y p"Y P PY
<br /> - Secured Debt aftcr thc balance is duc ar is accelerated or nfter foreclosure praceedings are filcd shall not constitute a
<br /> �---- waiver of Lender's right So require complete cure of any existing def�ult.By not exercising any remedy on Grantor's
<br /> - default,l.ender does nut waive Lcnder's right to later ca�nsidler the event a default if it continues or happe�s again.
<br /> � 16. EXP�NSES; ADVANCES QN COVENANTS;ATT0�3NEYS' FEES; COLLECTION COSTS.Except whcn
<br /> prohibited by {aw, Grantor agrees to pay all of Lender's expenses if Grantor breaches any covenant in this Security
<br /> Instrument.Grantor will also pay on demand any amount incurred by Lendcr for insuring,inspecting,preserving or
<br /> uthcrwise protecting the Property and Lender's sccurity interest.Thcsc expenscs wili bear intcrest from the date of
<br /> the payment until paid in full at the highest interest rate in effect as provided in the tcrms of the Securcd Debt.
<br /> Cirantor agrees ro pay aii cu�i�anu ex�uscs ii�cu����L'ji ia^.i'iu�?��call:x.t:stS,enf�:ciss;�*�±!'^tcc!4ng!rnder'c rights
<br /> -- and remedies under this Security Instrument.This amdunt may include,but is nat limited to. attorneys'fees,court
<br /> costs.and other legal expenses.This Security lnstrument shall remain in effect until released.Grantor agrees to pay
<br /> � for any recordation costs of such release.
<br /> 17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCGS.As used in this section,(1)8nviranmental Iaw
<br /> means,without limitation,the Comprehensive Environ�cnental Response,Compensation and Liabllity Act(CERCLA.
<br /> 42 U.S.C.9601 et seq.),and all Ather federal,stnte a�cl local laws,regulations. ordinances,court orders, attorney
<br /> general opinions or interpretive letters concerning the public health,safety,welfare,environment or a hazardous
<br /> substance;and (z) Hazardous Substance ntieans any toxir.,radioactive or hazardous material,waste, pollutant or
<br /> contaminant which has characteristics which render the substance dangerous or potenttally dangerous to the public
<br /> liealth,safcty, welfarc or environment.The term includes, without limitation,uny substances defined as"hazardous
<br /> material,""toxic substances;"`ha�ardous wastc"or"harardous substancc"undcr any Environmcntal Law.
<br /> Grantor rcpresents.wanants and agrces that:
<br /> A. Except as previously disclosed and�cknowledged in writing to Lender,no HazaTdaus Substance is or will be
<br /> located,stored or released on or in the Property.This restriction does not npply to small quantities of
<br /> Hazardous Substances that are generally rccngni�.ed to be appropriate for the normal usc and maintenance of
<br /> the Property.
<br /> B. Except as previously disclosed and acknowledged in writing to Lender,Grantar and every tenant havc becn,are,
<br /> a�1d shall remain in full compliance with any applicnble Environmental Law.
<br /> C. Grantor shall immediately notify I..ender if a release or threatened release of a Hazardaus Substance occurs on,
<br /> under or about the Property or there is a violation of any Environmental Law conceming the Properiy.In such
<br /> an cvcnt,GrarRor shall take all necessary remcdial action m accordance with any Environmental Law.
<br /> D. Grantor shall immediately notify L.ender in writing as soon as Grantor has reasan to believe there is any
<br /> pending or threatcned investigation,claim,or procceding re(ating to thc release or threatened relcasc of ttny
<br /> I-Yazardous Substancc or thc violation of any Environmental I.aw.
<br /> - 18. C01�1AEMNA'170N.Grantor will give Lender prompt notice of any pending or threatened action,by private or
<br /> --- public cntities to purchase or take any or all of thc Property through condemnatian,eminent domain,or Any othcr
<br /> = means.Grantor authorius Lender to intervenc in Grantor's n.une in any of the above described actions or claims.
<br /> ____ ' Gruntor assigns to I.ender the proceeds of Any award or claim for dAmages connected with u condemnation or other
<br /> ._.__.._y� taking of all or any part of tl�e Property.Such proceeds shall be considered payments and will be applied as provided in
<br /> -=-=-'��-° this Security Instrwncnt.T'liis assignment of procccds is subject to the tenns of any prior martgage,deed of trust,
<br /> -F�"'-"'_' securiry agrecmcnt or other lien document.
<br /> —8_�arr�'�i
<br /> R�,��� 19. 1NSURANCE.Grantor shatl keep Property insured against loss by firc, flood,theft and other hazards and risks
<br /> `:::,���� reasonably associatcd with the Property due to its type and Icxation.'I'his�nsurancc shall be maintained in the umounts
<br /> •-���� and for the periods that Lender reyuires.'�he i�surunce carrier providing the insurance shall be chosen by Grantor
<br /> °' �`''i�� subjcct to Lcnder's approval,which shall nat be unreasonably withhcld. If Grantor fails to maintain the coverage
<br />-��� `'g��- dcscribcd above.L.cnder may,at L,endcr's option,obtain covcragc to protcct Lencicr`s rignts in ine rropeny accvruing
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<br /> • to the terms of this Security Instrument.
<br /> �"�-�r�' All insurance I�c►c�and renewals shall be accc t�ble�o Lender and shall include a standard"mortgagc clausc"and,
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<br /> • 7•''��' ' where a I�cable, "loss a ec clause."Grantor shall i�nmcdiatel notif Lendcr of c�nccllation or tcrmination of thc
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<br /> �,u:�,-��ti-,� insurance.Lender shall have the right to hold the policies and renewals.It Le�nder requires,Grantor shall immediatcly
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<br /> _,_, ti-t h:;.�; givc to L.endcr all receipts of paid prcmiums and renewal notices. Upim loss.Grantor shall givc immcdiatc nohcc to
<br /> �� _��:?•,:;�y.� Aie insurancc�carrier and Lender.[..ender may make proof ot Ioss if nut made immediately by Grantar.
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<br /> "_,_�{.��«�• � (Page 3 0�4J
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<br /> -,�.p��e�y,ai�tsz- 01991 Aankere Sysleme.lnc.S�poW.MN 1��800397•7311)Fam RE-0T.NE 8'B191
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