|
�
<br /> }`'°'�� '�, . . • w'dak�;i�uk'-
<br /> ' . . :w .. . �ik'v`cv�,t�-� - -v� . . ' � . . � � . . .. . � . . . .
<br /> . �.�
<br /> �
<br /> �:_:
<br /> �� -
<br /> � 14. D�FAULT.Trustor on the Secured Debt fails ta m�lce pay�meUt w en due.Trustor
<br /> will be in default if a f s Socurlty Insuvment or any other document executed for the
<br /> puipose of creating bt.P, good faith belief by Beneficiary that &neflctary at any
<br /> time is iASecure wtt� ed on We Secured Debt or tbat the prospect of any payment or
<br /> the value of the Property s imP red s 1�lao constitute aa evrnc of defeult.
<br /> 15. Ii�MEDIES ON DEFAi1I.T. In some instances, federai aad etate Iaw will requlre Benefictasy to provlde Trustor with
<br /> � � notice of the r�ght w aue or other notices ynd may establis6 time schedules for foreclosure actious. Sub'ect to tLese
<br /> liailtations, if any,BeaetictAry may accelerate the Secured Debt end foreclose this Se�udty Inscnunent � a manner
<br /> ,,,,.��" provided by law if Trustor is ln default.
<br /> '��� At the opdon of Beaefidary all or any part of the a�greed fea and chazges. accruod interest aud prlacipal shall become
<br /> immediately due and payable, after giv3ng natice if Yequired by law.. upon the occurrence of a defauit or aayti�
<br /> � �'( thereafter. In addidon, HeneRciary shall be entided to all the�es pmvided by law,the tCrms of the Secured Dedt:' (
<br /> th wer to sell the Pro �
<br /> � ; th�s Se�,-urity instr�ment and eny related documents,includia��vithout limltation, e pa P��Y• '
<br /> �.::: -;,. , _:
<br /> ,;ri., If Were is a default,Truste�shall, in addition to any other pemiitted remedy, at the requ�st of the Benefici�ry, advertise _
<br /> . ,;, and sell the Property as a whole ar in arate parcels at public aucdon to the�ighest bidder for cash and convey absolute
<br /> ��� dtle free and clear of all right, tide and�terest of Tiustor at such time and place as Trustee designates.Tmstoe shall give
<br /> no��le law ia effx ut he ti�me of t�he p oposed sale�e�d a description of the pmperty to be sold as required by We
<br /> ' aPP
<br /> � Upop sxle of thc pmpecty and ta the extent not prohibited by law Tivata eh�ll m�lcc u�d deliver�dad to the Property _
<br /> sold wGich conveyi abtoluta utle to tt�e purc6eaer� and afler �lrot psying �ll fay� ch�rgq �nd coate. rhall p�y to ``-
<br /> Heneflciuy �ll money��dv�nced for rep�ln. tu�a,
<br /> {nnuaaa, Ilene. uuumena �ad prior encumbru�ca�ad faterat ��
<br /> �� thereon, And the princlp�l u�d intercst on We Socurod De6t, p�yln� tho eurplu�, if�ny, to Trwtor. Beneflciuy mty °_
<br /> purchwso the Propeny.71�c rxit�ls in any deed of conveyanc�thall be pritru fACle evidence of the facte aet fotth thereia. F_
<br /> '^� All remodleo ue dl�tinct, cumul�tivo�nd not excluatve.�nd ihe Brneticluy It mtitlod to�II remedies provided u taw or �_
<br /> equfty.whether or noe ezpreuly ret forth.'[he acceptuux by Bcnetici�uy ot u�y�um in p�ytrient or part3d p�yment an the
<br /> Socured pebt Rfter the balnace i� due or fe accelented or ofter forccioiure ptocaedln8� ue flled sh�ll aot conttltute a
<br /> de af ult�BeaeQeisry doa pot walv�c uBenefl�l�Y1�°�Sbt to liter conalderahe cvent a defiult ifii�cont�in�ues o heppens eBilna
<br /> 16. EXPENSES; ADVANCES ON COVENANTS; ATfOANEYB' FEFS; COLLECTION COSfS. Bxcept whea
<br /> __ , prohibited by�law,Trwtor�graa w pay�11 of Benefict a expensea if Trustor bre�ches aay ooveuant in this Security
<br /> . — ` Insaumenc.Trus's�e:�iU�:�pay cn desz�°a� sa;r�,±a�_+�,�rral by Beneflciuy for insudnA.iaspectln8,preservi�ag or
<br /> otheiwlse protoc�the PropertY�ad Beneficiary'e security �nterat.'Iheae�aprnsw wiil bear iaunst from the ciate of the _
<br /> ' paymeat unW paid fLll at the Wgh�at interest mte ia effect u�provided in the tecana of the Secund Debt. 'Ilustor agrees
<br /> . to pa aU ooats �nd expenaes incucred b Beueficiary in ooAa�ing, enforeing or protecting BeneScIary�'s ��ste� and
<br />_�::�,,•:.a,. . , p�ea u�ndez�s�t7'��ty c.��N°�,naawshotll mnsin in�effxt�u�ntil r�eleased. Tn�swr agroes to pay for'aay
<br />� ; reoordation coats of such nlease.
<br /> �:;.:;,.. ..
<br />-"��":;,-;�. - 17. F.NVatONME1VTAL LAWS AND IIAZARDOIJS SUBSTANCFS. As used In thIs sation� (1) Bnvironn�eatal Law
<br /> �e:.,,.�;�,.�,�1 means, without limicadoa,the CompnLensive Environmtntel Response. Compensation and Liabilfty Act (C�RCLA,42
<br />' ..l�,#.:� rd meY 8eneral
<br /> U.S.C. 9601 et soq.),and aU other foderal, state and la;al iaws,regulations,ordinanas.courc o en,atto
<br /> r ��-'�:•i e o�pinions or Interpreuve leturs concemin$d►e public health. aafety,welfan,environment or a ht+zudous subeqnce•and(2) �
<br /> ��: .; radloaaive or hazadous materlAl wasu poUutant or ooateminant w�ich h�s
<br /> Hazardous Sbbstance meane any to�c� � �
<br /> �`�• chuacterIstica which rendu the substance daugerons or potentiaUy du�geroue to tlie public health, eafery. welf�re or
<br />-,,. , e�:_:.;_ .
<br /> - ��:�, environnient.The term lacludes, wlthout limiudoa, aay substanas defukd ne "hazardona matetl�l�" "toalc substax�es�"
<br /> y''�"t'-'�7' "ha�srdous waste'or"hazardous substaace"uader aay Eavironmenttl Law.
<br /> Y�r+�::�`:;'.
<br /> ��"��+`!�� ' Trustor repc�esenta�wamata and agreea that: , no HazaMona Shbatance ie or will be
<br /> =r A.Bacept u previously disclosed and aclmowledgod in writing W BeaeflcIary
<br />�,.:-�s��1,_� , located,stored or rele�sed on or in the Property.This restrtction doea aotapply to sm�ll quanddes of Hvudout
<br />--- '� Subst�nces thit ue geaerally rceognizecl to be tp roprlue for We nomoal use ond mainunuice of tha Propaty.
<br />� r��==�'� B.Except a��s pceviously disclosed�nc1 ackaowledg�in wrldng to BeneHciary�TnisWr and every tenaat have baa,are.
<br />=A�� F., '• and e�U=+eroain in�LU comoliance with aayappliable Savironm�euul I.4w.
<br /> nm�eu
<br /> -=�'-''-�i.� �,'TNStor ehall i�mmodi�tely riotify BeneRciuy if a nlea�e or threatened ntaae of a H�zardous S�batanoe occure on.
<br /> -'=�"=,� under or about the PropertY or there ie a violation of my Envirnnmen.Ul Law conarn�ng the PcoP�rtY. In s�h�°
<br /> —�:+'�?'-:� event,Tcuator slull teke alr naxaaary remeclid aceti�on in a�cordanoe with my EnvironweaUl Law.
<br />��.�c�` D.Trustor shall immodi�cely AOt��BGflCSC�iiy III WIItIIIg aa soon as TnuWr has reason to believe there i yany��
<br />_:-„�,;s:r;. , or threatened investigation. claim� or proceeding neluiag to the relase or threauned release of an H
<br />_ fr;,},,, Snbstnnce or the violadon of any Bnvironu�ent41 Iaw.
<br /> '`°'" ' 18. CONDEMNATION.Tn�scor wlll�tive Beneficiary pmmpt notice of any peading or threattned actioa,by privau or ubHc
<br /> „ ,..;.
<br /> ` entities to purchase or teke aay or all of the Property tbmugh condemnation,muneat domaln.or any other means. tor
<br /> - ' authorizes Heneficiary to iatervene in Ttustor'a name �a any of the above described ections or claims.Trustor a9sigas to
<br />- � � Beneficiary the proceeds of eny awud or claim for damages oo�xted with a condemnation or oth�r taktng of all or any
<br />"� part of the Property. Such praceeds shall be considerod payments and wlll be applied as provided in this 5ecurity
<br /> Instrument.'Ihis tssignment of proceeds Is subJect to the tecmv of aay prlor mortgage,deod of trust,secudty agroemeat or
<br /> �� other lien docurnat.
<br /> 19. INSURANCE. Tcustor shall keep Property insured against loss by fire.flood,theR and other h�zatds�nd riaks reaaonably
<br /> assoctated with the ProPertY due w its type aad location. 'll►is insurance sh�il be maintained in the awounts and for thc
<br /> pedode that����x�Y requirea. 'Ihe insurance carria providing the insumnce sh�ll be chosea by Trustor eubject to
<br /> ���� � Beneficiary's approv�l, w51ch shall not be va�reawnabiy witlsheld. If Truawr foile to maintaia the ooverage d�scribed
<br /> _ _ _ _ 9hove. Bmeflc�arv may. at Beneflciary's option,obtain coverage to pmtect Benefici�ry's righta iu the Property acxarding
<br /> - - _ - to the�terms of t1�is Security Insuusnent.
<br /> All insurancepo licies aad renewals shall be acceptable to Beueflciary and shall iaclude a standard"mortgage clause"and,
<br /> where applicable,"losa payee clause." Trustor shail immediately noti�y Beneficiary of caacellatioa or termtnation of the
<br /> insnrance. &nefic[ary sl�all have the right to hold the policfes and renewals. If Beneficiary requlres, Trustor sball
<br /> �` , immediately �ive to Beneficiary ail.receipts of paid premium� and renewal nodces. Upon loss, Trustor sha11 give
<br /> m�
<br /> ' •, immediate nonce to tLe insurance camer and Beneficiary. Beaeficiary may make proof of losa if not made immed�ately by
<br /> � Trustor. -
<br /> fpege 3 of 41 _,
<br /> - , ! m1�J84 Eianktn SYCtome.lnc..SI.Clprtl,MN 17•800•397•2341, Fam t1E•DT•NE 12n3M16 , . -
<br /> i �'!k�i����
<br /> �
<br /> i
<br /> � � —
<br />
|