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<br /> default if an arty ob11gateA on the Secured Aebt fails to make��ment whe�n�dut� for�e -
<br />- � ��< 14. DEFAl1LT.Ttustor will be in Y P
<br /> ^, ' � wlll be�n default it a breach occura under the terms of thie Socurlty 1nstrumen�or auy other docucaent e
<br /> purpose of creating socurtng or suuentYinB We Secured Debt. A good faitb be�ief by BeriO�CISrY�FIAt&pn�{Cj�TY�Bn Oe �
<br /> � � a�u in�ure wit�reapoct to any peraon or eatity obligated oa the Secured Aebt or that the prospect of anY p Y
<br /> � the vdue of the Property ie ia►P�ir�sb�11 als°�°ns�itute an event of default. `
<br /> 1S. RE1NE�lEB ON DEFAULT. in some inatunces� fcdcral�nd state law will require Beneflciary to provide 'I'ruator with c_-:
<br /> �::�;';� aotia of tbe right ro cun or other aotices and maY establieh time schodula+ for foreclosuro actioi�s. Sub�i ect to�hese
<br /> � litaitulon+, if aay, Beneficlary u�ay acc�larate the Secured Debt aud foreclose thia Security Inatnuneat 3n a m�nner —
<br /> provided by law ff Tcustor is in default.
<br />�:2�. . ' At tlle option of BeaeRciary ��°�r°g;v7ng nott�ce i�` nquired by la�wr.BuPo��occurn cenofpa�default horl aa iwe
<br /> • yi imttxd[auly due �nd payab{e,
<br />- thonifter.In eddidon�BeneRciary ehal do nnen a�including I�thmot limltatfon�the pow�r�to�sell�the Pmperty.��bt. ^
<br /> this Secutlry Iastrun►ent and az►y related
<br /> If the Il the Pcoault��cu�stw ole�or n sep�arate Parcels at�publi�rmaac�tiOn o t�he'high�e.gt bidder for�eash aAd eon cy�absolute
<br /> .� and se PertS'
<br /> dtl�ftee and clear of all rlght,title and interesc of Ttustor at such time and place as Trustec designates.'[Yusta shaU give
<br />�; � notia of sale including the time.terms and place of sale and a description of the property to be sold a�roquired by the
<br />:��i.�'.'Y. • applicable law in effect at the tinne of the proposed sale.
<br /> � Upon sale of the property and�o�e extent not prahibited by law,Trusta stsal�mmalcce'Anh�"�7'a�ver�a�d�go th�o y o �J
<br /> : soid wk►ich conveys absolute atle to the purc1n��r, and after fust paying 8 Q<.�._
<br /> terest
<br /> �; �' if any, to Tsustor. B epe fi c i a ry m a y �r'
<br />,,,;, . . . B�ef9�;>>uy all moneys a dv a a c e d f o r xe;�air�. tmc�s, insurnce, liens, assess�ents and prior encumbrauces aad n'.:,.
<br /> t3n�ercon,wd the principal and 'un3�rrs�t ¢►u yhe Sacwed Debt. P`•�yiag the susplav. �_,.-
<br /> 4,�I�.. ' � :�J(�� �_,..
<br /> :;,.;1.�i:��ii,';,:'�?+ puach�t�he Property.ThC I+EC1t8IS IIS�AU�J aCti�0�COAVC}/aI1CC 9�111�1 bEE IIJ'.Tlll7a�8C1C 6V�t�E3�DE OF tLC faCf9 SET fOEIII ILlEItll]. _Si�_.
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<br />- �,����'��ti�g,�. �rc�lies are disZinct,cumulacive and not exxlusive,and the Beneficiary ls ent3qetl�a �1 en or�asaial paYmez�t on the
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<br />:,;•;'•-4•.;;, ,., equiry. whether or naz�xpressly aet forth.The aaaeptance by Beneficiary o��any suva in paym P
<br /> ,,,s��Y'•�,; ' Sccurod Debt after tbe �alance ie due or is acceler�ced or afur fonclosure procadings are filed sfi�il not cons6tute a
<br /> r;�� „ :;$., waiver of Beaeftciary s dght to require comPlete cure of a°y��cisting default.By not exe�sing any remedy on �gtor's
<br /> defiutt.&ne•ficiary does not waive&nefictary's dght to later consider the event a default if it continues or happens agair►•
<br />`��+��'� ` ' 16.EXPENSFSi AAVANCES ON COVENANTS; ATTORNENS' FEFS: COLLECIZON COS'1'S. Ezc�pc when
<br /> . .,
<br /> t_�.r..k:�;; . ;a5t�ited ts�l�w.Tn�eor agrees to DaY� of Beaeftciazy's expenses if Tcuator breach��g��in¢pr�eseNla�t or ,
<br /> u�"�'`-`;' �aumait.{frustor wlll also pay on dem�ad my amounc u�cunai ty�3�-ncffctary far .
<br />'�-'°�,r 4c and Benefici 'a sxudty interest.These expensea will bear inurest from t6o date of�he
<br />�,.:�.,..�.-• othen�ise Prococting the Property M' p
<br /> 1 payment until pald in full at the hi��inte&aeficiuy�in�co1Tecting. eafonc�ing o�r pmuctiag�Bene�ary i�ighu +nd
<br />�;,z;..� cop�y dl cotta utd expenses In►
<br /> re�edia nnder ehis Secudty lnsitcume�nt.11iis unount may include.but i�not limitod to. �ttoraeya' fea,court coW+. �nd
<br />��"���.'�� otlur 1e`d eapenta. Thls 5ecurity Insuumrnt �dl remwin ia effect undl relexsed. Tnutor igroa to paY for u►y
<br /> ---;=�� �+eoorduioa cosu of�uch nlwe.
<br /> y��°�� 17. ENV�tONME1VTAL LAWS AND HAZARDOUS SUHSTANCES. M usal in thi: aectioa� �1) Eavimaancnul Law
<br />�"��'"� cne�ns,wtthout Itmitation the Comprehensive Envircmmeatal Response, Compensuion and Li�bl Ity Act (CERCLA.42
<br />- •-=��� U.S.C.9601 et uq.). � �I other fodenl. tute�ad local lawa. regululons.ordlnancea, court ordera, anomey aenenl
<br /> __ °`��� Iniow or G►urpretive lettem concemin8 the Public he,�ltb,aafety,welfuo.eavirona�ent or a her,�rdoua eubst�nce��ad(2)
<br /> �-.�� °��� �b t�e mans any toxic� cadio�ctive or haurdous mated�l� wute, polluuat or conuuainu►c w�rohho
<br /> chuacteriuia w h i c h n a der t h e s u b s t a n o e du�gemus or p otentially d�ngeroua to the public he�lth, eafety,
<br /> r
<br /> envlroflment.'tLe term includes. vvIthout Iimiution, az►y aubswioes deflned as 'h�zardow uute d�l." 'to x ic su bs u n t x s�'
<br />�"-"'-°�"° �h�ardow waste'or"6aurdous substanoe"under aay Environmcntal Law.
<br />-�---------= Tmstor represeats.warrants and agxs that:
<br /> - � A.Bxcept as previoualy disclosed and acknowledged�wriresM tion d�as aot'ep ly co edm�ll quu►d�He.�s of Husrd w
<br /> = locaud, swrod or released oa or in the Property ��u�of the Property.
<br />--"°.r S�bstancea tnat are getxral1Y recogni�to be ap ropriau for the nornul use
<br /> - _�- --- g.gxcept aa previoualy disclosed and acknowledg�ia wcldng to Beneficisvy.Truator and every tea�nt h�ve been.are.
<br /> ------ — and sh�ll nmaiu in tuU campliance with aayappIlcable Environmental Law.
<br /> ---""—°'— C.�'�awr sha(1 immedi�t e ly n o t ify &a e fl c luy i f a r e l e a s e Y r threatened releate of a Huardous Substanoe �a�o�
<br /> under or �bout the Property or thete is a violation of aa Envtronnxntal Uw wnceminB th�ProP�nY•
<br /> �� event.Trustor ahall talce all aaxssuY remedial actioa in accordance with any Environmental Lsw.
<br /> ==-- — D.Trustor s�Wl immodiately nodfy&neficlary in��relating to t�he rel teass�or thn en�r�elease of�ny�Htr�ou.gi
<br /> ----� or threatened �nvesciSation, claim, or proceedm8
<br /> ��—�--�-- Substance or the v[olation of any Buvironn�entall-aW
<br /> —r�,;,=.�u�,�t' ndln or threatenod actlon,by Pr3vate or public
<br /> -- := �� 18. CONDEMNATION.Trustor will give Beneficiary prompt notice of any pe g
<br /> `=::��� entitiea to purcb�se or take any or all of the PropertY tluon8h coademnation,eminent domain,or any other means.Tmstor
<br /> `��`�;•°'� ne ary to iatervene in Trustor'a name in enY of the above described actions or claims.Trustor assi8ns to
<br /> ;� , r.•., authorizes Be ftci n
<br /> "� • ''• ' &aeficiary the proceeds of any award or claim for daznagea oom►xtod with a e°nd�mnatioa or other takinB of dl or any
<br /> °:i:�'' put of the Propercy Such procceds ahall be considered payments and wiU be applied as provided in this Socurity
<br /> � � "' , Wirument.This assignment of proceeds is subject to the terms of any prior mortg�ge.dad of avst,sxuricy aBrament or
<br /> -• � other lien docuwent•
<br /> � 19. IIVSUR�►NCE.Trustor shall kap Property insured aSa�ns�loss by fire,tlood,theft and other hazards and rlaks naaonably
<br /> a�snciated witb the PropertY due ro its type aad location. This insurance shall be maintained in the amounts and for the
<br /> =`;:-. � p�rioda th�t Beneficiarynq uires. 'The tasw'ance carrter providing the insurance shall be chosea by Trustor subject to
<br /> _:���i� • &a e H c i az Y'a a p pm�al. W1�ch shall not be unreasonably withheld. if Trustor faila to maintai�► tt►e coverage described
<br /> _ _.�_ _.... .,w.:..,•.,.,��o w t n n m t e c t B e n e fi c i az Y's r l R h t s i A tt�e P[o p e rt Y eCCOrdi[►8
<br /> _ � --:�:— gbOVE�Beneficiary may� SI tfCIICltGiatJ�a vy�av�.�........»�.-'--o- -- . -
<br /> .. r" "�`' to tlie urms of this Securiry Inatrument.
<br /> ' eAll insurancepolicies and reaewals shall be acceptable to Beneficiary and shall includc a standard "mortgage clause"and,
<br /> ' w h e r e a p p licable, 'loss ayee clause."Trustor ahall immediately notify Beneficiary of cancelladon or termination of the
<br /> p Trustor sha11
<br /> inswance. Beneficiary s hali have t he ri g h t t o h o l d t h e p o l i c�c s a n d r e n e w a l a. I f B e n e fl c i a ry r e quires,
<br /> �mrnediately give to Beneficiary a11 receiPts o f pai d p r e m i u m s a n d r e n ewal aotices. U p on loss, Tnutor shall give
<br /> imrnediate notice to the inaurana carrier and Beneficiary.Beneficiary may make proof of loss if not made immediately by
<br /> � � � Ttustor.
<br /> Ipege 3 0l 41
<br /> � 01994C�nkNS Syttem���ne•.8�.C�a+d•MN I7•!00•39)•23411 Fo�m PE•OT•NE 8/1396
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