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<br /> executcd for the pumose of creating,securing or guarnntying the Secured Deht.�good faith belief by I-.ender that
<br /> Lender at nny time is insecure with respect to nny perso7 or en t t ty o h l i g�t e d a n t P�e S e c u r e d Debt or that the pros pect
<br /> of any payment or the value of thc Property is impa{rcd shall also constitut�en event of dcfault.
<br /> 15. REMEDIES ON DEFAUI,T. In same instanocs.fcdcrnl and stAte la�v wiU requirc I.ender to providc Grantor with
<br /> notice ot the ri�ht ta cure or other nntices and may cstablish time schedules for fc�reclosure �ctions.Subject to these
<br /> limltetions. if any,Lcndcr may nceelerate tlic Sccured Debt and foreclasc this Sccurity Instrument in n manner
<br /> providcdby la�v if Grantor isin dcfault. �
<br /> At the optie,n af Lendcr,all or any part of thc agrccd fces und charges,accrucd intcrest and principal shall become
<br /> immediAtcly duc and payable. attcr giving notice if required by law,upon thc occunencc of a default or anytime
<br /> .�____o.__ �_..aaa.s,,,, r...,,�,,...ti..0�..,.,..e:��...t r..an r1,� .�mA�s�.��r�v��i��i hv taw.the terms of the Secured Debt,
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<br /> this Security Instrument and eny rclated documents,including without limitation,the power to setl the Property.
<br /> If thcre is a default,Trustee shall,in addition to any other pernutted remedy,at the request of the Lender,advertise
<br /> a�d sell the Property as a whole or in separate parcels at public auction to thc highest bidder for cash and convey
<br /> absolute title Free und clear of all rlght,title and interest of Grantor at such time and place as Trustee designute�.
<br /> Trustee shall give notice of sale including the timc:,terms and place of sale and a description of the propeRy to be sold
<br /> as required by the applicable law in effect at the time of the proposed sale.
<br /> Upon sale of the property and to the extent not prohibited by law,Trustee shall make And deGver a deed to thc Pro}�erty
<br /> sold which conveys absolute title to the purchaser, and after first paying all fees,charges anc�costs,shall pay to Lendcr all
<br /> moneys advanced for repairs,taxes,insuranee.liens,assessments and pnor encumbrances and interest thereon,�nd the
<br /> principal and interest on the Secured Debt,paying the surplus,if any,to Grantor.Lender may purchase the Property. o
<br /> The recitels in any deed of conveyance shall be prima facie evidence of the facts set forth therein.
<br /> AU remedies are distinct,cumulative and not exclusive,and the Lender is entitled to all remedies provided at law or
<br /> equity.whethcr or not cxpressly set forth.The acccptance by Lender af any sum in payment or partial paymcnt on the
<br /> Secured Debt after the balance is due or is accelerated or aher foreclosure proceedings are�led shall not constitute a
<br /> waiver of Lender's right to require complete curc of any c:xisting default.By not exercising any remedy on Grantor's
<br /> default,I.ender does not waive Lender's right to 1 atcr consider the event a default if it continues ar happcns again.
<br /> 16. EXPENSE5;ADVANCES ON COVENANTS;ATTORNEYS'FEES;COLLECTION COSTS.Except when --
<br /> prohibited by law,Grantor agrees to pay all of I.ender s expenses if Grantor breaches any covenant in this Security
<br /> Instrument.Grantor will also pay on demand any amount incurred by Lender for insuring,i�specting,preserving or
<br /> otheiwise protecting the Property and Lender's security interest.These expenses will bear mterest from the date of
<br /> the payment until paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt.
<br />- �SZ�iltQr g�Qnc t4�,�y 2�Z�ncrc and�x�encec incuned by L.ender in collecting,enforcin�or protecting Lender's rights
<br /> and rernedies under this Security Instrument.This amount may include.but is not limited to,attomcys' fces,court
<br /> casts,and other legal cxpenses.This Security Instrument shall remain in eifect until released.Grantor agrees to pay
<br /> for any recordation costs of such release.
<br /> 17. ENVIRONMEIV'fAL L�►WS AND HAZARDOUS SUBSTANCES.As used in this section.(1)Environmental Law
<br /> means.without limitation.thc Comprehensive Environmental Respanse,Compensatian and Liability Act(CERCLA,
<br /> 42 U.S.C.9601 et sey.),and all other federal,statc and local laws.regulations,ardinances,court orders,attarney
<br /> general opinions or interpretive letters conceming the public health,safety,welfare,environment or a hazardau.4
<br /> substancc; aad (2)Hazardous Substance means any toxic,radioactive or hazardous material,waste,pollutant or
<br /> conteminant which has characteristics which render the substance dangcrous or potentiaUy dangerous to the public
<br /> hcalthy safety,weUare or environment.The term includes.without limitation,any substances defined as"hazardous
<br /> material,""toxic substenc;es,""hazardous waste" or"hazardous substance"under any Enviroamental Law.
<br /> Orantor represents,wananu and agrees that:
<br /> A. Except as previously disclosed and acknowledged in writing to Lender,�ta Hazardous Substance is or will be
<br /> located, stored or released on or in thc Property.This restriction does not app(y to small quantities of
<br /> • Ha�ardous Substanca that are gencrally recogni�.ed to be appropriatc for the normal use and maintenance of
<br /> the Properry.
<br /> B. Exce.pt as previously disclosed and acknowledged in writing to I.ender,Grantor and every tenant have been,ate,
<br /> and shull remain in full complience with any applicable Bnvironmental Law.
<br /> C, Grantar sha11 immediately notify Lender if a rclease or threatened release of a Hazardous Substance occurs on.
<br /> under or aboiat the Property or there is a violation of any Environmental Law conceming the Property.In such
<br /> an event,Grantor shall take all necessary remedial action in accor�ance with any Environmental Law.
<br /> D. Grantor shail immediately notify Lender in writing as soon as Grantor has reason to believe thcre is any
<br /> pending or threatencd iTrvostigation,clairn,or proceeding rclating to the release or threatened release of any
<br /> Hazardous Substance or the violation of any Environmental Law.
<br /> 18. CONDEMNATION.Grantor will give Lendcr prompt notice of any pending or threatened action,by private or
<br /> public entities to purchase or take any or all of the Property througt►condemnation,eminent domain,or any other
<br /> means.Grantor authorir.es Lender to intervenc in Grantor's name in any of the above described actions or claims.
<br /> Grantor assigns to L.ender the procceds of any award or claim for dama�es connected with a candemnation or other
<br /> taking of all or any part of the Property.Such procecds shall bo considered payments nnd will be applied as provided in
<br />_ this Security Instrumcnt. This assigrtment of procceds is subject to the terms of any prior mortgage,deed of trust,
<br /> security agrcemont or other lien docu�nent.
<br /> 19. INSiJRANCE.Grantor shull keep Property insurcd against loss by firc,tiood,theft and other hazards and risks
<br /> reasonably essociated with the Property due to its type and location.This�nsuranoe shall be maintAined in the amounts
<br /> and for thc periads that Lender requires.The insurance carcier providing the insuranoe shall bc choscn by Grrantor
<br /> _ subject to Lcndcr's approval, which shall not bc anrcasonably�v{thhcld. If Grantor fails to maintain thc cov.,ragc
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<br />- to thc terms of this Security Instrumcnt.
<br />- All insurance policies and renewals shall bc acccptable to I..endcr and shall im:lude a standard"mortgage clause"and,
<br /> where applicsble,"loss payce clausc."Grantor shall immediatcly notify Lcndcr of canccllation or tcrminatian of thc
<br /> insurance. Lcnder shall havc the right to hold thc policies and renewals.If Lender requires,Grantor shall immediatcly
<br />� give to Lender all receipts ot paid premiums and renewal notices.Upon loas,Grantor shall give immediate notice to
<br /> thc insurance carrier and I.cnder.L.endcr may makc proof of loss if not made immediately by Grantor.
<br /> - � ..-��.�o.
<br />- (page 3 of 4)
<br /> - O to918anwn5yNMns.Inc.S1 Gaq,MN tl�D00J97•23�t1 Form RE•DTd1E 6b9t
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