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<br /> ex.cutcd for tt�c purposc of crcaNng, sccuring orguarantying thc Sccurcd i�r�t�t.A good faith bcltef by I.cndcr th�t
<br /> [.ender at any time is tnsecurc with respect to any pe rson or enUry obligatcd on the Secured Debt or that the pmspect
<br /> uf eny payment or tho valuc of thc Property is impalrcd sh�ll alsa canst�tutr,Hn cvcnt of dcfAUlt.
<br /> 1S. REI4YEDIES ON DEFAULT.In some i�stances,federul end stntc law will rcquirc l.ender ta provide Crantar with
<br /> notia: of the right to cure or other notices end may establish time scl�edules for foreclosure nctiar�s. SabJect to these
<br /> limitations,if any. Lcnder mAy acceterate the Sccured Ocbt and foreclose this Security Instrument in a manner
<br /> prorided by luv!if Grantor Ls in dcfault. -
<br /> fi1 ihe option Af I.ender,all or any pnrt of the agrced fces and churgcs,nccrucd intcrest and princIpa)shall become
<br /> immediately due and puyable.aftor giving naticc if required by law,upon the occurrence of a defAUlt or anytime
<br /> theres►tter,ln ndditian,I.ender shall bo cntitled to ull thc remedies provlded by Inw,the ter►ns af the Secured Debt,
<br /> this 5ecuriry Instntment und any relnted documc:nts,including without limitation,the power to scll the Property.
<br /> If there is a default.Trustee shall,in additi�n to eny othcrpermitted ramedy,at the reyucst of the I.endcr,adveriisc
<br /> and seil the Property as a wholc ar in separate parcels at public auction to the hiFhest bidder for cash artd convey
<br /> absolute title free and clear of all rlght,titk and int�rest of Grantor at such time and place as Trustce designates.
<br /> Trustee shall give notIce of sale including the t[me,terms and place af sale und a description of the property to 6e sold
<br /> as rcquired by the appUcablc law in effect at the time of the proposad sale.
<br /> Upon salc of the property and to the extent not prohibited by law,Trustee shall makc and deUver a deed to thu Propt:rty
<br /> sold wnich conveys absolute title ta the purchaser,and after first paying ull fees.charges and costs,shall pay to Lender all
<br /> moneys advanced for repairs,tarces,insurance,liens,assessments and prior encumbrances and inter�st thereon,and the
<br /> principal and interest on the Secured Uebt,paying ttze surplus.if any,to Grantor.I.ender may purchar,e the Property.
<br /> T�e cecitals in any deed of conveyance shall be prima facie evidence of the facts set forth 2E�crein.
<br /> All r�medies aze distinct,cumul�tive and not exclusive,and the Lender is entitled to aQ!remedies provided at law or
<br /> ec�uity,whethes Q�n�t expressly set forth.71ie acceptance by Lender of z�ny sum in pay�ment or partial payment on the
<br /> Sccured Debt aficr c*�e balance is due or is accelerated or after for�clas�ir�g�raceedings are filed shull not con�titute a
<br /> ti••airer of Lender's dght to requ'ue complctc cwe of uny c.xisting d�faufla.�y not excrcising any remedy an Gr��ntor's
<br /> c�etniit,Lender dces not wai�•e Lender's r�ght to later consider the event a default if n t continues or happens ap,a4n.
<br /> 16. E.aPTl.NSES; ADVANCES�:�COVENANTS=AITORNEYS'FEES; COLL��C'1'ION COSTS.Excc:�i when -
<br /> �tahibited by law,Grantor agr�LS to pay all of Lender's expenses if Grantor breaches �ny covenant in this Seciuiry
<br /> I��3trument.Grantor will also pay on demand any arnount incurred by Lender far insuring,inspeciing,preserving or
<br /> e�:�erwise protecdng the Property and Lc:nder's security interest.These expenses wlll bear interest from the date of
<br /> ����ayment until paid in fatD�t the highest interest rate in effect as provided in the terms of the Secured Debt.
<br /> �:_;;.�t 3.a.iQQg YQ�a����c�3nr��r�gcvai�rtine�i hv Yrnder in cnllecting.enfarcine or protectine Lender's riehts
<br /> and remedies under this Security Instrumenl. This amount may include,but is nat limited to,attorncys'fecs,court
<br /> cosls. and other legal expenses.This Sectuity Insirurnent shall remain in affect urrtil reieased.Gnn2or agrees to pay
<br /> forany recordation costs of such release.
<br /> 17. EIYV�RONMENTAI.LAWS AND HAZARDOUS SUBSTANCES.As used in t�tissectlon,(1)Environmental Law
<br /> means,without limitation,the Oomprehensive Enviro�unsntel Response,Comperssas:rsn and Liability Act(CERCL.A,
<br /> 42 U.S.C. 9601 et seq.).and a!l other federal, stete nnd'6oca1 laws,regulations,oc;linances,court orde�g,attarney
<br /> genee-�l opinions or interpretive letters concerniag the public health,safety,welfare, environment or a ha2arulous
<br /> suhstanca;and (2) Hezardous Substance means any toxic,radioactive or hazardous material,waste.pollutaat or
<br /> contaminant which has charncterislics which render the substance dangerous or patentially dangerous to the public -
<br /> health,safety. welfare or environment.Ttie term includes,without limitation,any substances deC►ped as"haz{udous
<br /> material;'"toxic substances;'"hazardous weste"or•`hazardous substance"under any Environmental Law.
<br /> Grantor represeats.warrants and agrees that:
<br /> A. Except as previously disclosed and acknowledged in writing to 1Lender,no Hazardous Substance is or wiQ be
<br /> locnted.stored or released on or in the Property.This restriction does not apply to small quaatities of
<br /> ' Hazardous Substances that are generally rccogni•r.ed to be appropriate for the normal ase and maintenance of
<br /> the Property.
<br /> B. Except as previously disclosed and acknowledged in writing to Lender.Grantor and every tenant have been,are,
<br /> and shall remuin in full compliance a�uith any applicable Environmental Law.
<br /> C. Grantor shal!immediately notify I.ender if a release or threatened release of a Hazardous Substance occars on,
<br /> under or about the Property or there is a violation ot any Environmental Law concerning the Property.In such
<br /> an event.Grantor shaU take all nec�ssary remedial actinn in accordance with any Env'uonmental Law.
<br /> D. Grantor shall immediately notify Lcnder in writing as soon as Grantor has reason to believe there is any
<br /> pending or threatened investigation,claim,or proceeding relating to the release or threatened release of ai�y
<br /> Hazardaus Substance or the violation of any Environmental Law.
<br /> 18. CONDEMiVAT[ON.Grantor will give Lender prompt notice of any pending or threatened action,by private or
<br /> public entiGes to purchase or take any or all of the Property through condcmnatimn,eminent domain.or any other
<br /> means.Grantor authorizes Lender to intervcne in Grantor's name in any oi thc a��ove describcd actions or claims.
<br /> , Cranior assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other
<br /> taldng of all or any part of the Property.Such proceeds shall be considcred payments and will be applicd ps providcd in
<br /> this Security Instrument.This assignment ot proceeds is subject to the terms of uny prior mortgage,decd of trust,
<br />. security agcement or other lien document.
<br />, 19. Il`SURANCE.Grantor shall keep Propcdy insurcd against loss by firc,flood,thcft and othcr hazards and risks
<br /> reasonably ossociated with th:Property duc to its typ�:and location.This�nsurnnce shall be maintained in the amuunts -
<br /> and for the periods that Lcnder requires. 'ILe insurance carricr providing the insurancc shall hc chosen by Grantor
<br /> subject to Lender's approval,which shall not bc unreasonably withheld.If Grantor faits to maintain thc coverngc
<br /> , _.,_
<br />- ueseria;u aoovC,und�r may,ai i.cnuc�'� vpiianauvi:ii�i c�rcingc iai N�vicii a.c�iuci�5 i��ui�ifi iiic�i�pcciy ac.tvn�ing
<br /> to the terms of this Security Instrument.
<br />' AD insurance policies artd renewals shall be acceptable to Lender and shall include a standard"mortgage clause"and, -
<br /> where applicable,"loss payee clausc."Gramor shall immediatcly notify I.ender of canccllation or trrmination of thc _
<br /> insurance.Lc:nder shall have the right to hold the policies and renewals. If L.cnder reyuires,Grantor shall immediately -
<br /> give to Lender�ill mceipts of paid premiurns and renewal notices. Upon loss,Grxntor shall give immedinte notice to =-
<br /> thc insurunce carrier and Lender.Lender rnay make proof of loss if not madr immcdiately by Grantor. _
<br /> (Page 3 0l a� =
<br /> O t9WtieWdsS}y!em�.�ne.Sl CbuO.MN(t-B00-,'197-2341) Fam RE-0T-NE 6b94
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