|
�
<br /> ' 9?-iO64�� ,
<br /> ; :.
<br /> fi�
<br /> r
<br /> ; l4. DEFAULT.'Trustor wiU M: in dtlfKUlt if Wny parry ohlig�►t�xl i�n thd SCCUrcd Dcht failn tc►nwlc�pxymdnt wh�n due.Trustor •-
<br /> will tw in JdfRUlt if A brr�ch�xcur�urxidr thu ttlnny of thiv Securiry Instrum�nt ur xny uthrr da:uitwnt nxcx;utwl fi��Ehtl (+'�
<br /> � purpow of crr.�►tin�,hc.v:urir��ar gur�Kntying tha S�:curcd Dr h1. A yixxl faith helinf hy 9eneficiwry that Drtwtici�ry rt���y �-
<br /> ' t�md�w m.�curo wtd�rr.hp�ct ro�ny�ruin��r tlnqty ahiigrted on thr. Scxured Deht or thut thn prc�x�:t of wny p�ymunt or =
<br /> ; tha vwlun of the Propnrty is�mpnirrd sh�ll wlMi constitute�n event af defKUlt.
<br /> l5. REMEDIFS ON QEFAULT. In some instx�krw, f�derwl and st�►ro lxw wdl reyuire BCnC6ciary tu pruvidC Truswr wiUti
<br /> nutica ��f the right to curo UI OlatN,t nntices wnd mxy a,tAblish timd MhLdules far fonx:l��surtl �ctianh. Suhf'�x:t to the,C
<br /> limitxtic�n.v, if eny, Benafic:inry m�y xcc�len+te thtl Securccl DCbt and fonx;lo� this Sr.�:urity lnstrutmmt in � munnr.r
<br /> ; praviJnd by law if'Pn�«tor is ind�f�.u1t. �
<br /> � At thu uption of Ben�ficiary,eA or any part ��f tha agr�xl fe�s �nd chrrgav, HCCR►C�I IRt�Itl.tit AIt(I FfI'Ii1Clp�1 shall txx:orn�
<br /> � im;mr,�liately du� atxl payahl�,,aftcr givmg noticd if reyuirtid by lrw, u�n tha occurronca uf A dtlfault ar Anytinw +`_
<br /> � th�rr�►1ter. l�:i AiWition, 8in.�fician� slwll fx.�ntitlr.cl to aU the razmxli�s provul�xl by Ixw, thn terms of thd Secur�xl D�ht,
<br /> this S�x;urity Itutrunnrmt anl any��.lat�cl dexumeats,incluJing without UmitAtiun.tha pow�r to�;el!thn Property. ',`
<br /> If tharc iy a d�afault,Tru�tc�sh311, in sddition to any othnr permitteel rom�ly, xt th�rcyu�.et of tha Betwficii►ry, Qdv�rtir,� �.;,.��:,,6
<br /> � � and sall thn P.�onnrty v�ti a�vhofc or in�pxn►te parcels at public auction to the hi�he.�t hidder for cu.�h und convay abwlute ����r„_
<br /> .� titl�free Aal citn:of all right,titld and tnterest of Tn►stor at tiuch timn and placr a.Trustr,a dc�:ignates.Trustrx shKll givc : �- � f
<br /> notica of s�ls itx;IcYlie� Iht pmC. trrms ancl place af sAle and r dwsc:ription uf thc property tn t+a sold�.ti n;yuireJ by the ^'""�""'='"
<br /> Applic�►bl�s I1w in effcct at thd ti►ne of the pro�sr,cl sxle. r��--�
<br /> ' Upon sul�uf tha property unJ ta tha extant nat prohibit�cl by law,Trustr,�shaU mukr anJ J�livar a d�l ta thtl Pmpnrty °
<br /> .0
<br /> s�ld which convays absolute titla to th� purchxser, anJ after first pxying all frxs, LhAf�CS NI1(I costs. shsll �y to
<br /> , Benaficiary all moneys �dvanc�l for ropxin, t+uc�s, iQUUranw. liens, ass�ssm�nts anJ prior �ncumbrAnc�s a�xl iattlrest
<br /> ' dw.reon, and tha princip� aaJ intnrrat on tha Sdcu�i Deht, p�yiag tha surplu5. if any, to Trustor. Baixjficiwy may
<br /> , '. ' qurohs�th�Property. 'Pdn recitals in�ny d�d of convtlyxnca shsll b�prima fucia eviddncd of thd f�eGs sCt forth tharein.
<br /> ;:.;�� ;
<br /> .:;:i All r�mcxlias are�distinct,cumul�tive and not exclusiva.and the Beneficiary is entitlr,cl to all r�akxlirs�rovidecl at law or ��,
<br /> '• '� uit whrther or aot �x r��.vl set furth.Thr acce tanca b Beneficia of sn sum in 8 IpCl1t Of sucial x ment on th� •
<br /> �1 Y� P Y• P Y rY Y• P y P P Y
<br /> , ' �► Sr,cured D�ht after th� luls�uce is duC ar is accelemted or aftcr foreclusure prac:r,r,�lings nre filtlel shall not coastitut� u
<br /> ' •� waiver of Bandficiary'� rig'ht to r�c{uir�complete curz of Any�xisting default. By not dx�srcising Any r�medy on Trustor's
<br /> d�f�ult, Benrficiary dc�es noi waiva Beneficisry'y right to lnter consid�r thc avtlnt a dafrult if it coatinu�s or hnppaas Again. � '"t•
<br /> 16. EXPENSES; ADVANCES ON COVENANTS; ATfORNEYS' FF.ES: COLLECTION COSTS. Exc�pt when
<br /> .ohibii:,d tsy la�,Tz:stor s;scxs t� ^°;s!1 of Beaeficlar�'•s N:�x+�t��'a if Tru.�tor breaches any covenant in this Sc�urity __ _ '�
<br /> �nstrument. Trustor will also pay on�mancl any amoant incurr�l by B�nefioiary for in.�urin�, inspecting. pnsarving or ,� � :;
<br /> otherwiu�protdcting tha Property anci B�neficiary's security intarest. Th�.se dzpens�s will bear mterest from the data of tha �`'�'.
<br /> p�ymznt uuhl pAid in full at the h�g h�.st iat�r�st ratc�in a ffect es provi d e d in t hG tz r m s o f t h a S d c u r a d D e b t. T r ustor�gnjes r4!�-� ', ;e:,`-
<br /> m
<br /> ' � to p�► all costs and expenae.g ineurncf by B�neficiary in wllcxting, enforeing or protecting B�nefieiary's righ�4 And ,. i.`�.
<br /> � re��s undar this Security lm;trumant. This emount may include, but is not limitdd ro� ottorc�eys' fi�s,court costs,�nd
<br /> � . `'�`' oth�r l�$al axpanses. This Su:uriry Inxtrument shall remain in�ff�ct undl roleas�d. Trustor Agr�s to pay for wny `�,;� �� �;
<br /> recordAtion costs of such r�l�. ~��;•.
<br /> �,y,,,, . :
<br /> 17. CNVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As us�d in this ,�ction, (1) Envimnmental L.aw ��'�`��;',;�;r;.
<br /> tneans, without limitatioa, th�Comproh�nsivtl Envitonmrntal R�.+ponsa. Compdasation anJ Li�bility Act (CERCLA, 42 �rt`'+��•�:.. ? •
<br /> U.S.C. 9601 et seq.). snd all other fed�rul, stata anci local laws,r�gulattons. ordinat�ces,court orders,Rttomey general R�'
<br /> opini�ns or int�rprettve l�tt�rs conceraing tha public haalth. wfety,welfara,envtroncncnt or w hs�rdous subst�nce:and(2)
<br /> ' Harxrdous Substanc� means rny toxic, rudioactivu or huzardous mAt�rial, wpste. pnIlutant or conGuninant which h�s . _
<br /> cheracteristics which rendar the substance dungerous or potentirlly �ngerous to tha public health, safety, wdlfara or
<br /> environn�nt. 'The tarm includas, without limitation, any substances dafintld as "haurdoua matari�l." "toxic substaaces." >
<br /> "hezardous waste"or "heuardous substance"under any Environmental Law. ;iP.,��`�:�~ .
<br /> T'custor r�presenGs,warnnts and agrc�s that: ���
<br /> A.Exce t as roviousl discloseJ aad acknowled ed in writi to Benefici . no He�rclous Substnace is or will he ` ���'�
<br /> P P Y 8 n8 arY .r>:�:-
<br /> locr�t�d. atonxl or rol�s�cl on or in tha Property. This r�siriction clots not sp ly to small qux»t'ities of H�wtrdous �;+'•c}-._
<br /> -;. Substance.9 thwt are generally ncognized to bes ap ropriat�fot tha nomtial usn a�muintaaanc:a of tha Proparty. 't����;
<br /> < B.Except a�s ptevinusly discloseJ xncl acknowledg�in writing to Hanzficiary,Trustor enJ�v�ry tenant hava hern.are. ':;sv;�,,��_..
<br /> and shall remain in full compliaric�with any applicxblr Environmental L+►w. ° �
<br /> � C.Trustor sha!(ima�liately notify 8�naficiAry �f a raleu�or threatc�txxl releas�of a Hazardous Substanca occurs on. :�•:_r;.:;.,��;
<br /> ' ur,dtr or�1wut the Pro�rty or thertl is a vtolation of any 6nvironnxnts►1 l.aw conceming tha Prop�rty. In such an •. • w�:
<br /> . dvant,Trusror shQll tsk�all n�:r.ssury rameclial action in uccorcienc�with any Envirnn►n�ntxl I.aw. ,�
<br /> D.Trustor shall immediately nntify Bsneficisry ia writing a.c soon as Tru�tor has reasnn to t�li�vG therz is any panding
<br /> or threatandd investigatton. claim, or proceecling rc>lating to the roleau� or thrextened releas� of any Hazardous .�' �
<br /> 5ubstance or th�violation c�f uny Environmental Law. ;;.,
<br /> I8. CONDEMNATION. Trustor will give Benefi�iary prompt notic:e of any�nJin�or thrext�nec!ection,by privata or public
<br /> �nNties to purchasd or txkz any or ei!of th�Property through condemrwtion,rsmment domain. or any oth�r meaas.Trustor
<br /> authoriz�i Benaficiary to intervene in Trustor's nume in any of the abava describecl actions or claims. Trustor assigas to
<br /> Baneficiary the proceeJs of any award or claim fur clamages cormec:tecl with a conJtlmnxtion or other tukins of all or xny
<br /> purt of th� Propertx. Such procexcls shall lx consiclereel payments and will tw appliecl as proviJad in this Srcurity
<br /> Instrument. Thi�,�ignment of prcx:r,�ls is subjact to the tcsrms of uty prior mortgage,dee�l of trust. security wgr�ment or
<br />- othar lien ducumant.
<br /> 19. WSURANCE.Trustor shall k�p Property insuracl againYt loss by firo,floal. theft a�xi othar hazwrds and risks reasonably
<br /> sssocixtdd with tha Propecty due to iGs typ�and location. This insuranc:e shall be mrintc�inecl in tha amounts and for the �
<br /> eriais that Baneficiury requires. Tha insurunca cxrrier providing thd incurunoa shall Fm chosen by Trustor subjact to i
<br /> �n.sficiYrv'c annroval. which shell not ba unreusonablv withheld. If Trustor fails to mxintain the coveragc dexribed
<br /> Ylxrvtl, Beneficicuy may,at Ben�ficisry'�option, obtain eoveruge to protcx:t Beneficiary'S nghts tn thn rrop�rty accorain?�
<br /> � to the trrnu of this Sec:urity In.trument.
<br /> AU ineurum;epc�licies anJ renewuls shail 1►e xcceptable to Banaficixry snd shall include a standarci "mnrtgaga clause" xnd.
<br /> u
<br /> - where applicabla, "loss puyr.�clause." '1'rustor shall immr.cliatCly noti�y Beneficiary of canc:cllstion or ternunation of tlie
<br />� intiuratx;e. B�rx:ficixry shall hav� the right to hold thc pnlicie� and renewals. If Beneficiary rayuictis, Trustor shall
<br /> immeciiKtely give to Beneficiury all rcceipts of paid promiumti anJ renewal ncitices. Upon lo�.ti, Trustor sliall give �
<br />� immediata notice to tha insurence carrier snJ Beneftciary. Beneficiary r►uy tnake prcx�f of los�if nat mude immrJiately by ,
<br /> Trustor.
<br /> � rv8ga s o�a� I
<br /> I t 1i9�B��a�SYaum�,Inc,St Ciourl.MN I1�800•�87•Y3d 11 Form RE•OT•NE 9l13�90 �
<br />_ � , ; .. � .�. �
<br />= , � � ;
<br />
|