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<br /> cxccuted for 1f�e puipose of creating,securing ar gu.�rantying the Secured Dcbt. A good fuith bclicf by Le:ndcr th�e
<br /> I.ender at'�ny time is insecure with r�spect to nny persan or cntity obligated on the Secured Debt or Ihat the prospect
<br /> ot nnypayment or the value of the Yropersy is impaired shall als�coristitute an cvcnt of dcfault.
<br /> 15. RF.MEDIES ON DEFAUL'a'.ln somc instances,federnl and statc law will require Lendcr to pruvide Grantor with
<br /> Rotice of the right to cure or other notices axid may establish time schedules for forcclosure �tctions,Subject to thesc
<br /> limitations, if any, Lend�r may accelerate the Secured Debt and foreclose this Security Instrurnent in n manner
<br /> provided by law if Grantar is in dsf�ult. `
<br /> At the optia�of Lender,all or any part of the agreed fees and charges,accrued interest and prirtcipal shnll become
<br /> immediately due and puyable,aftcr giving notice if required by law, upon the occurrence of a defanit or anytime
<br /> thereafter. In addition, L.ender shaA be entiticd ta All the remedies provided by law,the tcrms of the Securcd llebt,
<br /> this Security Instrument artd any related dacuments,including without IimitAtion,the power to sell the Property.
<br /> If there is a default,Trustee shall,in addition to any other permitted remedy,at 1he r�yuest of the I.endcr,advertisc -
<br /> and sell tlie Property as a whole or in sepurate pnrcels at public auction to the highest bidder for cash and convey
<br /> absolute title free and clesr of all right,title and interest of Grantor at such time and place as Trustee designAtes.
<br /> Trustee shall aive notice ef sale including the timc,terms and place oF sale and a dcscription of the property to be sold
<br /> as required by the applicablc law in effect at the timc of thc proposed sa(e.
<br /> Upan sule of the property and to the extent not prohibited by Isw,Trustce shall make�nd deliver a deed to thc Property —
<br /> sold which conveys absolute title to the purchaser,and after first paying All fees,charges and costs,shall pay to C.ender all
<br /> moneys advanced far repairs,taxes,insurance,liens,assessments and prior encumbranccs and interest thercon.and the
<br /> principal and intcrest on the Secured Debt,pAying the sury�lus, if any,to Grantor. Lendcr may purchase thc Property. _
<br /> The recitals in any decd of conveyance shall be prima facie evidcnce of the fects set forth therein.
<br /> All remedies arc distinct,cumulativc and not exclusive,and the Lender is entitled to all remedies providcd at law or
<br /> equity,whether or na1 expressly set forth.The acccptance by Lender of any sum in payment or partial payment on the
<br /> Secured Debt after the bAlanee is due or is accelerated or after foreclasure proceedings are filed shall not constitute a —
<br /> waiver of Lender's right to rcquire complctc curc of any cxisting default.By not exercising any remedy on Grantor's
<br /> default,Lender does not waive Lender's right to later consider the event a default ii it continues or happens again.
<br /> 16. EXPENSES;ADVANCES ON COYENANTS; ATTORNEYS' FEES; COLL'ECTIOIV COSTS. F.xcept when
<br /> prahibited by lnw,Grantor agrees to pay all of Lcnder's expenses if Grantor breaches any covenant in this Security
<br /> Instrument.Grantor will also pay on demand any amount incuned by Lender for insuring,inspecting, preserving or
<br /> otherwise pratecting the Property and Lendcr's security interest.These expenses will bear interest from the date of
<br /> the payment untii paid in full at the highcst interest rate in cffect as prov�ded in the terms of the Secured Debt.
<br /> c;rantor agrees eo pay ati a»i�a►�i axNci�ses;rcu�'ct3 uj'�I:L��t li2 CD�lEC:IA�^,.P:lfQ��:S2p nr�r�trrt}no T nnrlr�'c rjohtc
<br /> and remedies under this Security Instrumcnt.This amount may include,but is aot limited to,attomeys'fces,wurt
<br /> costs,and other legal expenses.This Security Insirument shall remain in effect until released.Grantor agrees to pay
<br /> for any recordation costs of such release.
<br /> 17. ENV[RONMEIVTAL LAWS AND HAZARDOUS SUBSTANCES.As used in this section.(1)Environmental Law
<br /> means,without limitation,the Comprehensive Environmental Response,Compensation and I_iabili�ty Act(CERCLA,
<br /> 42 U.S.C.9601 et seq.),and all other federal,state and lacal laws,regulations, ordinances.cou•rt orders, attorney
<br /> general opinions or interpretive letters concerning the public health, safety,welfare. envtronment or a haiardous
<br /> substance;and(2)Hazardous Substance means any toxic,radioactive or hazardous material, wsste.poUutant or
<br /> contaminant which has characteristics which render the substance dangeruus ur �tentially alanberous to the public
<br /> health,safety,welfare or environment.The term includes,without limitation,any substances defiaed as"hazardous
<br /> matsrial;'"toxic substances;'"hazardous waste"or"hazardous substunce"under any Environmental Law.
<br /> Grantor represents,wan�ants and agrees that:
<br /> A. Except as previously disclosed and acknowledged in writing to Lender,no Hazardous Substance is or will be
<br /> located,stored or releascd on or in the Property.This restriction does not apply to small quantities of
<br /> Haiardous Substances tbat are gcncrally recog�'v.ed ta be apptopriate for the nonnal use.and maintenana;af
<br /> the Property.
<br /> B. Except as pcevioasly discloscd and acknowledged in writing to Lznder,Grantor and cvery tenant have becn,are.
<br /> and shall remain in full wmpleance with any applicable Environmental Law.
<br /> C. Grantor shaU immediately►iotify Lender if a release or threatened relcase of a I-iazardous Substance occurs on,
<br /> under or about the Property or there is a vio[ation of any Environmental Law conccming the Propeny.In such
<br /> an cvent,Grantor shall takc all necessary rcmedial action m accordance with any Gnvironmental Law.
<br /> D. Grantor sha(I immcdiately notify Lender in writing as soon as Grantor has reason to believc thei•e is any
<br /> pending or threatencd investigation,claim,or procecding relating to the releasc or thrcatencd relaase of any
<br /> I-Iazardous Substance or thc violation of any Env�ronmentai I.aw.
<br /> 18. CONDEMNATION. Grantor will give Lender prompt notice of any pcnding or threatened action, by�rivate or
<br /> public entities to purchasc or take any or all of thc Property through condemnation,eminent domain,or any other
<br /> ineans.Grantor authorizcs L,cndcr to intcrvenc in Grantor's namc in any of thc a6ove described actions or claims.
<br /> Grantor assigns to L,cnder thc proceeds of any award or claim for damages connected with a condcmnation or other
<br /> takin$of all or any part of the Property.Such procceds sht�ll be considered payments and will bc applicd as provided in
<br /> this Sccurity Instrument.This assignmcnt of procceds is subject to the terms of Any prior mortgage, deed of trust,
<br /> security agreement or other lien document.
<br /> 19. INSUItANCE.Grantor shall kcep Property insured against loss by Cire, flood, theft and other haa.ards and risks
<br /> reasonably associated with the Property due to its type and location.This insurance shall be maintained in thc am�unts
<br /> and fur the pertods that l.ender rcquires.The insurancc carricr providing the insurance shall bc: chosen by Grantor
<br /> subject to Lender's approval,which shall not be unreasonably withheld. If Grantor fails to maintain the covcragc
<br /> described above,I.c;nder may,at I.ender's option,obtam coverage to protece i.enders rign►s in ene Yropeny accurding
<br /> tv the terms of this Sccurity I��strument.
<br /> All ins�rance policics and renewals shall bc acccptablc to Lendcr�tnd shall include a standard"mo�6agc clause"and,
<br /> where applicable,"loss payec clausc."Grantor shall immcdiatcly notify Lender of canccllxtion or tcrmination of thc _
<br /> insurancc.Lcndcr shall have ehe right to hold thc policics�nd renewals. If L.ender reyuires,C:rantor sliatl imrnediatcly
<br /> give to Lendcr all reccipts nf paid premiums and renewal notices.Upon loss,Grantor shnli �ivc immediate noficc to
<br /> thc insur�ncc carricr and L.cndcr.Lcndcr may makc proof of loss if nnt madc immcdiatcly by firantor. -
<br /> tFage 3 or a)
<br /> �1891 Benklro SySlemf.Int.SI CbW.MN 11-8003974yt11 Fam RE-OT•NE 6'878� .� —_--
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