|
.a irM ,.
<br /> . a�.i,���- _""_"'_... ' . �` ' - . - . . ....r.....,�.u�ilr�hw. ._ i_...
<br /> f 1
<br /> . . . a -::3;_-
<br /> 1A. DEFAUL't.�rustar will��a in�fAUlt if any party ob��Bu���ci on thc Sa.�:ured Dtbt fails to malcc paymenc whKn duc.Trustor �
<br /> will bc In deflult if a brr�ch occuro�ulder the terms of thia Sc�:urity Instrumcnt or any uther document cx�xuted for thc ,�
<br /> purpose of cr�t' . sxuriag or guArAntying the Secured Debl. A goad faith belief by Bcneflclary thet BenetialA�n�oi �
<br /> thc velu�of c�h�e P�penypia impa�ireyd�shali also c n�ctit�to�an evrnt F drfault��bt or tl�nt the prnsprct of any p y �
<br /> ls. lt�ML�DIES ON D�Fr'�i►LT. In sarrx: lnstanc�:s, federal and stnte law will reyuire Beneficlery tn prnvide Trusror with C7 + �
<br /> notice of the right tocure or other notices ond may estnblish time achodules for forcclosure ar.tlons. Sub'ecc ro tliese � ,t.;_
<br /> Utnitations, if anp, &neficiary may acceierate th� Securcd Debt and foreclase th1� Security Instrument �n a manne� ;,.
<br /> ,,�„�..+r� pravided by law if Twstor is in default. :�"'
<br /> ' '� all or any part of theagreecl fees and chArges, acerued interest and princl al shall bewme � _.�'
<br /> At thc option of BeneGciary, --
<br /> immediAtel due and payable, after giving natice if nqutred by Isw, upon the occurrence of a de ault or an inx •.,,_
<br /> ..,,�,.
<br /> thifi 5ocurity Iastcu�iment and any rclated documents�includi gewith�out Iimpicatiun�Qbe pawcr�o sep the P�peny� bt, _-
<br /> If there is a default. Trustcr, shnll, in addition to any other permltted remedy. at therequest of the Bene f ic iary, a dve�t l s c "�q
<br /> and sell the Property as a whole or in separate parcels at public auction to the highest bidder for c�sh nnd convcy absolute __
<br /> tide free and cleu of all dght,title and inturest of Trustar at such time and place as Ttustee desianAtes.Trustee epell give __
<br /> appli�cableslaw In effagat�the�tlme� of the proposed sale�e and a description of the property to be sald as requlred by the =
<br /> �+' Upon sale of the property and to the extent not prahibitod by law, Trustee shall m�k�and deliver a deed to th�PropertY 6 __
<br /> sold whlch conveys absolute title to the purcfiaser, and after first PaYing all fees, cherges and wsts, shall pay to _
<br /> � Beneficiary all moneys advanced for repairs, taxes, insuraace, liens, assessmeats aad prior encumbrances and interese —
<br /> �; thereon, and the priacipal and interest on the Secured Uebt, payin� the surplus, if any, to Trustor. BeneficiAry nu►y
<br /> putchase the PrapercY•'The recitals in any deed of conveyaace shall be primu fxie evidence of the fs�cts set forth therein. —_.
<br /> 'f All remedies are distinct,cumulative and not exclusive, and the Beneficiary is entitlad to all remedles provided a t lon the _
<br /> equity,whether or not expressly set forth.Tte acceptance by Beneficiary of any sum in payment or partlal payme�►
<br /> S�cured Debt after the balaace !s due or �s accelera[ed or after foreclosure proceedinga ue filod shall not conatitute a
<br /> default,�BeaeCcicary d'oes n�ut�waive Benefci���s dght o la ei consider che event a default ifiit contuluesor hapPe►�s aS�ins
<br /> 16. EXPENSES; ADVANCES ON COVENANTS; ATTOItNENS' FEFS. COLLECTION C�"!'S. Except whcn
<br /> '� pmhi�i�ted by taw, Tnistor a�roes to pay all of Beneficiary s expeases if Truator bc�eaches eny covenan�Qi�► �°N�oi
<br /> '�'� ' Insttument. Trustor will�Iso pay on demaud any�+nj�ncurm+ uy��uefc�a�for fn..us3ng, fa�pn' g
<br /> . . • othenvise pmtocdng the Propercy and Beneficiary's security interest.'Ihese expeases will beu mtereat ftom the d�te of the
<br /> payment untU pald ia full at the highest iatenst racc in effxt as provtded in the terms of the Secured Debt•Truswr�grees
<br /> �,•�•• ' topay all costs and eapenses incurred by�Beneficiary ln coAecting� eaforcing or protectWg Ben�ficlary's dghte tnd
<br />�; .• `;:;,�';''� , remedies under this Socurity Insttvment. This amounc may include.but is not limited to. attorneya fee�. co��s�,�
<br /> ' , '�,;�;-�. other legal eapenses, 'This Secwity Inswc►xnt shall mnain ia effect until released. Tcustor agras to pay f�r +my
<br /> �� � cecordatton wsts of such release.
<br /> �u. ._. -
<br /> 4• . 17. ENVatONIV�NTAL LA�S �mprehen�v�e�EnUiromneutal R ponse�Compensauon aad tUsbiliry Act(C RCL,42 -
<br /> means, wtthout ltmltatioa.
<br /> �'�" " U.S.C. 9601 et seq., and all other federal,state and local laws. regulatioas.ordinances,caurt orders, atto►�ney nene
<br />-;�,' � ! . opiNons or interpret�ve letters coacetning the public healtb,safery,welfue.eavironmenllutant�o��ntamiusen�' r29
<br />- ,� Hazudous Substana zneans aaY coxic, radloactive or hozaMous matedal, w�ste, po
<br /> ` � �'��� • characteristics which render We substance dengerous or potentielly dangerous to We publ[c hcalth, safery, +�.
<br /> ;fN•::,:... ..
<br /> � �+r;�' environnknt. 'Ibe term includ�s. without limitatioa, any substances deCinod as 'hezardous mated�l." "tox�c su st.��� .
<br />�=�:�=:•iC t�- "hazardous waste" or"hazazdous suUstance"under aay Environmental Law.
<br />�:. ,.•..
<br /> �'4:�'.,„ _
<br /> �-:a.;;,�:: Tnestor represeuts.warrauts anc�.agrees that:
<br />�'�'• •:.:; p,Eaecept as previously dis�losed and acknowledged in wridng to Beneficiary,no Haurdoua Substaace is or wiA be
<br /> _.�'�-• � tocated, stored or releasecl oa or in the Property. '11iis restriction does not ap ly to small quandties of Hazudoua
<br />- ••� Substances thu are generally reco�uzed to be ep ropriate for the xwm�al use�maintenanoe of the Prope�ty. �
<br /> `�� ��� � B.Ex t as prevlously disclosed and uckn�wlodg�in writing to Be�eRciary,Tn�stor and every teaant have beea,are�
<br /> S�`'''��°' ' and�sll[emaiu in full compliance with any aAplicable Envimnueental I.aw.
<br /> _,,... . .
<br /> ' `''�`'t C.'fcustor shall imrnodtacely notify Benefieiary tf a nlease or threatened celease of a Husrdous stance oceurs •
<br /> �`�"�`'�� under or about the Property or there is a violntion of any Environmeatal L.aw conaming tha Propo►tY• la such an
<br /> �i��,; .
<br />_��„ , ,.' event,Trustor shall take all necessary remodial xtion in accotd.'�nce wiu►enY'Favironutiencel l.aw•
<br /> D.Ttustor st�ll inunediatelq notify Bemficiary in writiag as sooa as Tn►star ha9 reason to bolieve there is any pendin8 —
<br />-- •�' .,,.. �`. or thmatened[nvestigation. claim. ot proceeding relating ta the release or threatr.�aed nlease of aay Hsvsrdous _
<br /> • Substance or the violation of any�nvironmental law• `
<br /> • � --
<br /> 18. CONDEI4IIVATION.Ttuscor will give Beneticiary pron�pt notice of any pending or thceatened action,by pdvate or�public ��:_
<br /> -x. �.. entides to purchase or take any or all of the Propercy through condemnatiod, eminent domain, or my other means. Ttustor - _
<br /> suWorius Beneficiuy to intervene m Trustor's name in any of the above describ�xtions ur claicng. Ttustor�ssigns to
<br /> � � Beneficiary the proceeds of any awazd or claim for dumages connocted with a condec►watlon or other taking of all or aay
<br /> _ j part of ;he Propeny. Such proceeds shall be cansidcred paymente and will be appliod as prnvided in th�s Security __
<br /> � Inspumeat,'fhls assignment of proceeds is subject to thc terms of any prior mortgtge,deed of ttust,sa:uriry sBroeaxnc or __
<br /> -' `j othpr liea document. -_
<br /> � } •
<br /> ` i� 19. INSURANCE.Trustar sha11 kecp Property tnsnned ugaiust loea by fira.ileocl,theft r.�d othar hnz3rds:md dsks reasonably
<br /> _� , assoc[ated with the Property duc to its typc und location. Thie insuranoe sbaU btl matntained in thQ amounts and for the ..
<br />- •'-� pedods that B�.aieficiary requires. Tha insurnnoe carrier pmviding thv insursn�:e shall be chosen by Ttustor subject to
<br /> -� � Beueficiary's �pprnval, which sh�11 not W: unneasonably withheld. lf Trustar fails to maintain the coverage desctibed
<br /> ,
<br /> . . _.— ' " n___c:_s__.�_ ..«.:.... ..1.�.........v..rona tn nmtM`t RRtIBfICt9lV�S 1'jQZ1LS 111 I�1C P[OI�I'�Y �� � .
<br /> ._.._._"__._. vv......
<br /> BDOVC. tfCI1CI1G13iy R1dY,ttt w��ciwia�� o vY.av,�� ....-.....o- '-r'-•--- --... - ,� . - ..
<br /> -
<br /> to the tenns of this Secunty Instiumrnt.
<br />–' All insurancepo�icies and renewals sha11 be acceptable[o Be:neficiary.and sliall include a standard "mortgage clause" and, �
<br /> - �vherr apDlicati�P. 'loss payee clause." Tcustor shali immediatel� not�fy Beneficiary of canrellation or temunatian of the ►..
<br /> � � insuranee. Beneticiary shall have the right to hold the polie►es and renewals. If Benefieiary cequires, Ttustor sh�ll
<br /> irtur��Jianty give to Beneficiary all �n.ciNt� �i patd premiusr.; a:.d ���r:w' ^st:-:' L'r..^ '-�ss, Tn.s*o* shat� give
<br /> inunediate notice to the insurance carrier and Beneficiary.Beneficiary may make proof of loss�f not made inu�diately by
<br /> ' TNSIOI.
<br /> — Ipage 3 0/�l
<br /> � I m1794 OonkMi Systtms.�ic.St Cicud.MN it B00]97 23�1� Fam RE DT NE �2i23�90
<br /> - I
<br /> �
<br /> ! .
<br /> ' 1 I
<br /> � _
<br /> i _ _
<br />
|