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<br /> 14. DEFAULT.Trustot will,be in default if any�p�'ty obliguted on the Secured Debt fnils to make payment when due.Trustar
<br /> ��':.'.,
<br /> wiU be in default if a b�ach oecata uador the tem�s of this Securlty Iastnunent or any pther docutneat executed fon or �`'�
<br /> purpase of creating,securiAB ar B��!'iA8�e�ured Debt. A good falth bellef by Beaeficiary thac Beaeflctary at any �.��_
<br /> time is iasecute wit1►�t to aay pe�aon or'entity obligated on the Secared Deht or that the prospece of a�Y P8Y� ��:,,_
<br /> the value of tlie•Property is impamd shalt also constimte an event of defRUlt. �_::_-
<br /> 15. REMEUIES ON DEFAULT. In some instances, federnl nnd state law will require BeAeSciary to provtde Tivsror wl�t —�--
<br /> notice of the righc eo cure or otUcr ao�leratedtheYSecnredsDebt�and foreclose�th,slSexuruuyalnscnrumentb�n�atmnnr►er �-`°
<br /> '• '� limitatlons. if any, Beneficiary may —
<br /> - �� �TQ�,;.��hy law if Trustor is in default. _
<br /> � ;'"""`'� At the option of�eneficiary all or an put of the agreed fees aud charges. accnied iaterest�ofpa defaultho�at►�dme -
<br /> � i�nmediately due and.PaYable. after gi�ving nodce if reyuired by law, upan the occur��of the Socural uebt� —
<br /> thereafter. In addiaon, Beneficiary shatl be entitled to all the remedles ATOVidad by law, _
<br /> this Security Insuumeat and any mlatcd documeats.including without limitation,the power to sell the PropsrtY• '
<br /> � , at the uest of the BBneficiarY. ad����
<br /> � If there is a default,Ttustee shall� i�►addition to any other peru�itted rem�1Y ,���g;ve =
<br /> :wd sell the Property as a whole or inseparate parcels�P at suchCtime an plaa as tTrusta desi8t�s• Gonvey ebsolute
<br /> � �� title free and clear of all right, tide aad intetest of Trus to be sold ns required by the .
<br /> , applicable aw in effecsat�the dme of the prdopose�d s�a�le.���n descriptian of the propecry �
<br /> � Upan sale af the propertY and to the extent aot prohibit��by�l�'f�'I'�us�e�s����e�h�g°��ad4.�j U0� pny to
<br /> sold �vhich wnveys absolute tid� to the p•.uchaser� —
<br /> Beaefieiary all muneys advancc� for repairs. taxes, insw'ano�• liens, asseasments and prior eneuutUr�u,ce.� aad it���''�'-
<br /> ' �� thereon, and the principe�d�tin any deed of�conv�eyance shallYbe prf�ata fac e evidence of the a�cts setgotttth therein. y
<br /> . purchase the Pcopert9. 'Ih
<br /> �' All remedies are distinc�,cumulatfve and not exclusive, and the Beneficiary is eatided to all remedtes P�pA�t oa the
<br /> equity,whether or aot expressly set forth.The acceptance bY Beueficiary of any sum ia paYmen pait�
<br /> s are Sled shall not canstitate a
<br /> Secured Debt after the balance is due or is accelerated or after foreclosure Praceedin8 S on Ttustor's
<br />� wniver of BeneY3ciary's aBht t�o�ree&aefici�ary's right of later cons9de rthe event a default if it continu�aPPC°$8g�� _
<br /> default.Beneficiary does
<br /> 16. EXPENS'E5; ADVANCES ON COVENANTS; AT'1'ORNEYS' FEES+ COLLECPION COSTS. Except when
<br />_. ' .` ��." prot�ibited bTrnstor will also pa�y on_demand any amount inscum b�y�Beaefic'tary fo�in�8,�1���g����or
<br /> In..tn�--t -urity inte::^s.Th�s?P�nenses wW bear interest from e date o the
<br />_ � otherwise protectiag the Piopeity and tfeneficiary�sa.
<br />�.- . pa�py'�allnco8is enid expenses inc�iured bteresBeaeficlary in L�uectinS.�enfo ing�P�B Benafi iary's r�iShts aad
<br /> 1��. , . y�
<br />�'u.,•,;•..r.. w a for any
<br />_,��,�;,�,:,' remedies under this Security Insuvment�.This Qasno��lmaYrna�n�in effecteuatillr�eleased.T:ustor agrees �p y sta�and
<br />�,,.-t._.. •, other legal expenses. This Securiry
<br />:?•;` '.'` ' ! recordatlon costs of such release.
<br />-:�;r,;,.�..�,. (1) Eavuonmeatal Li►w
<br />�i.�`��°�.:,:���` :
<br />;�_:..,�.�» 17. ENVatON11�1VTAL LAWS AND HAZARDOUS SUBSI'ANCES. As usad ��n and Liabllity Act(CERCLA�42
<br /> means, wtthout limitation.the Comprehensive Eavironmental R�ponse,ComPen� �(Z)
<br />�r"'' '"'�'i� U.S.C. 9601 et seq.).and all other federal. state and local laws, regulacions,ord�nances. court orders. attorneY Sea��81
<br />�""'`'° opiaions or interpreuve letters conceraing the public health,safery,welfate.envirowneallor�a h oa�r�p��L whicl►h�s
<br />-''-�`�"�. :'i'". Hazardous Substance mesue any toxic. radioactive or hazardous materlal, waste, po
<br /> =+�==�.`'�, .,- characteristics �which render the substauce dan8emus or potentially dangerous to tfie public health, safery. welfare or
<br /> environment.The term includes. without llmitadon, unny substances defined as "hazerdous materlal." "toxic substances,"
<br /> - - "hazardous waste"or"hazacdous substance"uader aay Enviranmental Law.
<br />��-� Trustor represents.warrants and agrees chat:
<br /> ;_;;,s�� A.Except as previousty disclosed and acknowledged�wr1��8�on dces no�aP lY to adma114 b�� of Hazudous
<br /> located, stored or released on or ia the Property
<br />�'"� Substances that are geaerslly recoBaized to be ap mprtate for the normat nse ea m�►intrnaaa of the Pmperty
<br /> :�.,::,;,s�'y B.Except as previously disclosed and acknowledg�in writin8 ta Beneficiary.Tn�stor and every teaaut have bexa,a�re.
<br />=s,aa�� and shall remain in full compliance with anyapplicable Environmental Law.
<br /> C.Trustor shall immedlately notify Beneficlary if a release or threatcned release of a Hazardous Subatence occurs ou�
<br /> under or about the Pcoperty or there is a violation of any Lnvironnrmtal LaW�°aatninB the Pr°perty 1° � �
<br />��_��;y,c�� evettt,Trustor shall take all necessary remedial acdon itt ac�°�'������y Envlronn�ental L.aw•
<br /> --- �_�=�� D.Trustor shall immeciiately nodfy Beneficiary in wciting as soon es Trustor has reason to believe then is any pead�n8
<br /> -- "E��_�: or threateued invesdgation�f �n jL Pnine�Lawelating to the release or tlueatened nlease of any Hazardous
<br /> ����.���. : Substancc or the violati y
<br /> .�, . ,�,,, g rlvete or public
<br /> ryf.'. � .`'. , �8. C�OtNDE�MNrAchas�or take�any orl all of t�he Prop rcy through twndemnatton�,eminent domain�orCany o eimeans.Trustor
<br />��I�,.�:�. . ^,;::'�� authorius Benefic tary to interveue in Trustor's name in anY of the above describod actions or claims. Tmstor assigns to
<br /> �� � - Beneficiary the proceeds of any awazd or claim for damagea conn A�dt will�be appliednasrpro ided in this Securlty __
<br /> j t part of che Propeny. Such proceeds shall be wnsidered paym �
<br /> �.� Instrument.This assignment of proceeds is subject to the terms of any pdor mortgage.deed of uust.security agreement or _
<br />'�" �'� oth:r li�document.
<br /> ' � 19. INSUItANCE.Trustor shall keep Property insured�gainst loss by fir�,flood,theft and other hazards and r�sks reasunab�Y
<br />� ' �pedods t�hat 1Be et'ieiary requires t The in�surancet carrier p vidtn�g t�he�insurance sh�all b�e�chosen by Trust�or subject�to =
<br /> ���'�` i Beneficiary's_a�proval, whlch shall not be unreasonably w'i�eld.p f Trustor faila to maintain the coverage deacr�b�ed -,
<br /> _ ubove, Beneticiar� may. at Beneficiary's option.obtain cove P to rotect Beneficiary's rights in the ProPertY
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<br /> � _ .,, -— to tae cercns oi««�JVL4a��� ..�........_._..
<br /> ' All insurance policies and renew�ls shall be acceptable to Beneticiary and shall include a standard "mortgage ctause' and,
<br /> " where applicable, "loss payee clause." Trustor shall immediately noti�y Benefic3ary of cancellation or terminarion of the
<br /> Trustor shall
<br /> " insurance. Beneficiary shall have the dght to hold the policies and mnewals, lf Beneficiary �luTr�ustor shall glve
<br /> � immediately &ive to Beneficituy all rece►pts of pnid pmmtums and renewal notices. Upon loss,
<br /> � immediate notiu:to the insur.�nc::carrier ac►d Beneficiary. Beneficiary►nay make proof of loss if not made immediately by
<br /> Trustor.
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<br /> �1994 Bo�kme Svstomt.�nc.St Cbud.MN 11�800•391�Z3dt1 Form RE�DT�NE 1��I7l90 '� ��� _
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