|
;r;;i
<br /> .. .p�' „
<br /> 'lY ':w . . -•yr.-1,�.`!�'+�xr�, . . � • ?1 Ui���v+`s.tl'��t ��..
<br /> ..._. ...y ,�.�" ' ��• _
<br /> �_ �:_.
<br /> [m:n'�--_.
<br /> .. • • � �"f,.'�``%'-�._
<br /> ��fNJ.�
<br /> ��� ��—•
<br /> 1U7"�0� .
<br /> �d Dcbt fails to naaice payment whea duc.Trustor
<br /> 14. DEFAULT.Tcustor wlll be in default if any party obllgated oa the Secur:.
<br /> will be ia default if a breach occnre under the tern�s of this Security Instniment or any other document executed for thc
<br /> purpose of creating,securing or guerentying the Secured Debt. A good faith bellef by Beneficiary that Beneficiary�nt oi �
<br /> time is iasecure wuh respi ct to�any�pe���������cutei aa ev nt of de a It�Aebt or Uiat the prospect of any p y
<br /> the value of the RropertY im�air . .{,,
<br /> 1S. ItE11iGDIES ON DEFAIJLT. In sotnR instanczs. foderal and state law wiil require Beneficlary to provide Tnutor with ;
<br /> , notice of the dghtto cure or other not�lcele�d�y�uanb,ldish�ebt and�foixlo e�thisrS�usr�iry Insotnunepibjn eco��r
<br /> i
<br /> limltations, if any, Beneficiary maY -_
<br /> �' provided by law €f Trusror is in default. _
<br /> "•••'-`''�'` At the option of Beaeficiary, �Il or any pare of the agreed fees and cdarges,awrued interest aud principal shall become ,,�
<br /> immediately due and payable, after giving notice If mquired by law. upon the occurrence of a default or an ime �
<br /> ,�:_
<br /> thereafter. In addition,Bene�fi�ci�lated documents�inclu�din��without limitadon�the powertto scll the Property���bt, ��_-
<br /> this Securiry Instrument and y —
<br /> If ihere Is a default, T�tus Whole oi ta sepdiarate parcels a�publ�'te auct on to the'high t bidder fortc�hand con ev absortuie
<br /> and�:11 the Propeny
<br /> titlo free aad clear of all rlght,titlo and lncerat of Trustor at such tiwe and place�s Tcustee designates.Tn�stee shall give —
<br /> " apPllcable aw ta e�gat�the t me' of t�he proposed sal�e aad a description of the pmperty to be sold as required by the
<br /> � Upon salr uf the proPcrt}' and to the eatent not prohibIted by law, Tcustee shall make aad deliver a deed to the Propercy �
<br /> ' sold which coave}�s absolute title to the purchaser, and after firse paying all fees, cl�erBes and costs, shall pay ta
<br /> � Beneficiary all maneys advanced for repairs, tanes. insuraace� lieas, assessments and prior encumbrances and iaterest
<br /> � thereon. and the princlp e�itals�in an�y deed of conv�eyance shal Ybe Prlma fa�c'iee'viden�ceyof the factts setBfcorth the�rein. y --
<br /> purchase the PropeRY•Tti
<br /> � Alu�re�i�er o ao express y set f�rth.n'Ibc aeceptance by Beneficelary of any sum�payment�or partlal payment on the --
<br /> �u�ed Debt atter the balance is due or is acceleratal or after fonclosure proceailn8s am filed aball not consdt�4e a
<br /> waiver of Beneficiary'a right to require complete cure of any existing default. By not exercising aay remedY on Trnstor's
<br /> default,Beaeficiary dces not waive Beneficiary's right to later conslder the event a default if it continues ar happens again.
<br /> 16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEFS; COLLECTION COS1'S. Except when —
<br /> rohibited by law,Trustor agrees co ay a11 of Heneficiary's expeaus if Trustor breaches any covenant in this Security
<br />-- � _ P a���d�y��mt incurced bv Beneficiary for insuring, inspecdng.�reset�'1ng or
<br /> '�: �:.� Insnuiaent. Truswr will utnc,gay ,
<br /> � ; other�vise pmtectlng the Property and Benefidary s securlty interest.'Ihese eapenses will beaz mteresc from tna 3ate of ihc
<br /> . .. payment uatU paid in fvll at the highest interest rate in effect as provided in the tera�af the Secured Lkbt.Trustor agrees
<br /> to pa all costs aad expeas�t� �����y�clude,�bu't is ao�l�'lmitedpo�attomeys'�fe�s, c�.oun co�s��s.�d
<br /> ' re�es under this Securlry
<br /> � • � other lt�al cxpeases. This Securit3' Insuument shall remain ia effe�t until releasad. Ttustor agrees to pay for any
<br /> • • - recordation costs of such release.
<br /> :�:,.; (1) Envtronmeatxl i.aw
<br /> ,��,'�.r:.:.'. . 17. ENVIRONMEIVTAL LAWS AND RA.ZARDOUS SLJBSTANCES. As used fII this Section,
<br />-�y • �=�� " ineans, without limitation, the Comprehemsive Environmeatal Respoase. Compeasadon and Liability Act(CBRCLA,42
<br />���w:. �•� U.S.C. 9601 et seq.),and all other feders�l,state nnd local lawa. reguladoas. ordinances, court orders, attomey general
<br />�•°� � , o inions or interpre t ive letters concernin$tLe public health.safety.welfare,environment or a hezazdous substance:and(2)
<br /> 4:=:r y, ��o� yylbstance t�."dns anY �oaic, radioacdve or ha7ardous material, waste, po llutant or contaminant which has
<br /> �1f I •+..i� .
<br /> charactedstics which render �he substance dangarous or potentially dangerous to the public health, safety, welfan or
<br />�`�.'$`;� � eavironment. The temi includes, without Ilmitation, an substances defined as "hazardous matedal," "toxic substances,"
<br />_�:.�'.':,t� y' "
<br /> hazaudous waste'or"hazardous substancc'under any avironmenul 1-aw•
<br />=.`.: �'�`:�ri```' ,
<br /> T°:�'' 'Trustor representt.watrauts and agra�s tliat:
<br />�•��'�` ' A.Except as previously disclosed aad aciwowledged in wdtin$to Beneficiary, no Ha7ardous Substance is oc wili be
<br /> `'d.:�:�`�`- locx�ed, storod or releasod on or in the Propecry. 'ff�is restrlction does aot a ly to small quaatities of Heutrdous
<br /> k;;.,,,,��;,;'':; Ss�bsZOnces that are generally reoognized to be approprlate for 16e nom�al�,I,���td�ry t nantPhav�e�bern.are.
<br /> =.� ..� ,; S.Eacept as previously disclosed and ackaowledged�n wrlting to Benefici ,
<br /> -:;;a;,,�;,i��,.., and sball mnain in full compllauco with any a�plicable Environmental Law.
<br /> -• - �:•_..:: C.Trustor sholl iaur�odiately notify Beneficiuy if a rel�ase or threatened release of a Hazanious Substence�honan
<br /> � ""'' uader or about thc PropertY or there is a via7adon of any Environmentat Law conccrnin�the Property.
<br />_`��;�;:;° e�ent,Truator shall take all necessarY remodial action ia accardaace with any Eavironn�ental Law.
<br />�=�„�:,- D.Trustor shall immediately notlfy Beneftciary in wrlting�g o�e r�eleasehor threaten� re�lease of any nHa�zardous
<br /> �.,;,:_:�,:.:� , or threauaed investigation, claim, or proceediag �
<br /> •�T`��'��-!r = Substanceor the violatioa of any Envirormxntal L,aw•
<br /> :-,,.�,�.,• ,.
<br />_s;�.,,,: n or threatened acaon,by private or ubl{c
<br />- 18. CONDEMNATION.Trustor will give Benefictary prompt nottce of any pe dia&
<br /> entities to purchese or take any or all of the Property throuSh condemnation. errunent domtin,or any other meaas. rusror
<br /> authorizes Beneficiary to intervene in Trusror's name in any of the above descdbed actions or claims. Tnistor assigns to
<br />- �� &neficiary the Proceeds of any award or claim for damages coan p�wdi�,llcon�demn�l i�On�r°oy;ded iu t�his�Security r,�..
<br /> part of the Property. Such proceeds shall be considered PaYm Y P B S�Pp p a ��nt or
<br />- '� Insuucnent.This assigument uf proc•.eexis is subje�:t to the terms ot an rlor mort a e.deed of trust.securiry g �,'.:
<br />'�� • ot�er lien document.
<br /> � ' 19. IIVSIJitANCE.Trusror shall kcep PropercY insured against loss by fire, tlood,theR and ottier ha�ards and dsks reasonably
<br /> � • ���at�1 W;th the property due to its type and location. 'i1�is insurance shatl be maintained in the amounts and for the
<br /> periods that Beaeficiaryrequu+es. T1�e insucance carrter providing the insurance shall be chosen by Trostor subject to
<br /> .:� ' . Beneficiary's proval. which shall not be unreasouably withheld. If Trustor fails to maintain the coverage described
<br /> •• - _ .,....... ua.�,.�;..�n,mav.ac Beaeficiarv's option,obtain coverage to protect Beneficiary's dghts in the Property according
<br /> . _•-- - d,........_..._---- --
<br /> . - to the term4 of th�s Securiry Inswment.
<br /> All insuranr.epolicies and renewals shall be ucceptable to Benef ciary and shall include a standard "rnortgage clause" and,
<br /> where applicable. "loss payee clause." Tn►stor shnil immediately notify Beneficiary of cancelladon or tetmination of the
<br /> insurance. Beaeficiary shall have the right to hold the policies and renewals. If Beneficiary requires. Trustor shall
<br /> immediately �ive to Beneficiary all receipts of paid premtums and renewal notic.es. Upon loss, Tntstor shall give
<br /> immediate nouce to the insurance canier and Beneficiary. Bene�iciary may make proof of loss if not tnade inunediately by
<br /> Trustor.
<br /> fpage 3 of 4J
<br /> 0199�Bankan SV��^'a.1ne-.St Cloud.MN It 800�97�7J411 Fam RE Dt NE 1?/2J196 C � +
<br /> � .. .4° �,
<br /> I �, .
<br /> � I
<br /> ' ..�
<br />
|