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<br /> 1�4. iDEFAUL'd�'. � p�q i�ated on thc Secured i�ebt fnils to mak����When duc.
<br /> Tru.gtor wlil in aalt1�,.q. P ,occur�tthl�Et he terme of thls Sccurity Instrument or nny other document
<br /> executed for t e se a� �s�oudn�'ai�l= antying the Secured Debt.A gocxt faith tx:lief by aeneGciar�
<br /> that Benefict i�w�h r�ac�ct t anp per.con��r enttty obligiited an tho Secured Debt ar tha4 the _
<br /> prospect of aay payment or thc vulue af thc Propeny is impaircd shall also cnnstitut�an cvent of detault.
<br /> 15, �tEN�IE�11�S ON DFFAULT.In som�instnnces.fedcral nnd atate Inw will requirc Bcncliciary ta pr�vide Trustor
<br /> wtth noUce of the right ta cur�or nther notices and may establiah timc scttcdules for foreclosure actions.Subject to �_ _
<br /> thesc llmitattons,if uny,BeneCcisry may accelerate the Sccured Ocbt And foreclose this Securlty Instrument in a
<br /> manner provtded by law if Trustor is tn default.
<br /> At the optian uf B�neficlary.aU or any part of the agteed fees and charges,accrued interest and princip�l shull became
<br /> immedtately due and payable,after�v�ng nottce if required by law,upon the occurrence of s default or anyttme thereafter.
<br /> In sddltlon.BeneGciary shaU be entitled to aU the remedles rovtded by�wer to ell the�1'ro e�S'�ecured Debt,this Securlty
<br /> Insm�ment and any relAted documents,including without tntion,the po Pe Y•
<br /> If there is a default.Trustce shall,in ndditlon to Any other permitted remedy, at the request of the Beneftclary.
<br /> advertise and sell the Property es a whole or ia separate parcels at pubGe auction to the highest bidder for cash and
<br /> coavey absolute tltle iree and clear of ull right,title aad interest of T'rustor at such tlme aad place as Truatee
<br /> designates.Trustce shAllgive notice of sale including the time,terms and place of sale aacl a descriptinn uf the
<br /> pruperty to be sold as reyuired by the applicable law in effect at the time of the proposed sale.
<br /> Upon sale of the property and to tho extent aot proWbited by law,Trustee shell make and deliver a deed to the Property
<br /> sold which cnnvcys absolute title to the purchaser, and after first paylag all fees,charges and costs,shall pay to
<br /> BeaeSciary all moneys advanced for repairs,texes,iasurance,li�ns,assessments and prior encumbrances and interest
<br /> there�n,and the prine�pal and interest on the Secured Debt,paying the surplus,if aay,to Trustor.Beneflclary may
<br /> purchase the 1'roperty.l'he recitals in any deed of conveyance shall be prlma facie evldence of the facts set forth therein.
<br /> All remedies aie cllstiact,cumulative and not exclusive,and the Beneficiary is entitled to aU remedtes provided at law or
<br /> equity,whether or not expressly sct forth.The acceptance by$encficlary of any sum in payment or partial payment on the
<br /> Secured Debt after the balanca:is due or is accelerated or after foreclosure proceedings are 51ed shall not consHtute a
<br /> waiver of Beneficiary's right to require complete cure of any existing default.By not exercisiag any remedy on Trustor's
<br /> default,Benefictary does not waive�eneficiary's rlght to later consider the event s default if it continues or happens again.
<br /> 16. EXPENSES;ADVANCES ON COVENA1VTSi ATTORNEnses iFf Trustor bLea 4�anNcovn ant in this 3ecurity
<br /> prolubited bq law.Trustor agrees to pny aU of Beneficiary's expe X
<br /> Ynstrument.Tn�stor wlll also pay on demand any amount iacurred by BeneCciary far insur�ng,iaspecting,preserving
<br /> or otherwise prote�ting the Property and Heneficiary's security interest.These expenses will bear interest from the
<br /> date of the payment unui paid'►n iuti at tt+G tii8h�st�ui���s�i��`'�`'rt ac provlded in the terms of We Sccured Debt.
<br /> 'lYustor agrees to pay all coste and expenses iacurred by Beneficiary in callecting,enforcing or protecting Beneficisry's
<br /> couhr�t costsland other legal e�xpensc�TtyW Se�rytInshvsmem shall re ain ineeffect until reletased.Trust tr a�ees a�
<br /> pay for any recordation wsts of such release.
<br /> 17. ENVIRONMEIV'I'AI.LAWg A►1Vn HAZARDOUS SUBSTANCFS.As used in this scctioa.(1)EavIronaaeatal Law
<br /> means,withaut limitatlon,the Comprehensive Environmental Response,Compensation aud Lisbility Act(CERCLA,
<br /> 42 U.S.C.9601 et seq.),and all other federal,state und local laws,regulations�ordiaances�court orders,attomey
<br /> generul opinions or interpretive letters coacernin&the public health,safety,welfare,environment or a hezazdow
<br /> substance;and(2) Hezerdous Substance means any toxic,radtoactive or hazardous materinl,waste,pollutant or
<br /> contaminaat which bas characteristics wluch render the substance dangerous or potentially dangerous to We public
<br /> health,safety,welfare or en�vtronment.'�'he term includes,wlthout limitation,any substences defined as"dazardflus
<br /> material;'"to�cIc substances, ha�.ardous waste or hazardous substance"under aay Eavironmental Y..aw.
<br /> 1Yustor represents,warrants and agrees that:
<br /> A. Except as prevlously disclosed and ackaowlcdged in writln8 to Beneficiary,no Hazardous Substance is or will be
<br /> Hc+zzard'ous Substaaces that are generally reco�ed to be appropriate for the nomaal use and maintenance of
<br /> the Property
<br /> B. Except as previously dlsclosed and acknowledged in writing tn Bene�ciary,Tnistor and every tenant have been,
<br /> are,and shall remain ia full compGance with anY�PPU�ble Eavironme�ntal I.uw.
<br /> C. Trustor ahall immediately notify Beneficiary if a release or Wreatened release of a Hazardous Subrtance oocurs
<br /> on,under or about the Property or there is a violadon of sury Environmental Law conceraing the Property.In
<br /> such an event,Truator shall take all necessary remedial actlon in accordance with anY Environmentel Law.
<br /> D. Trustor shall immediately aotify Bene�iciery in writing us soon as Trustor ha.c reason to bolieve there is any
<br /> pending or threatened investigadon,claim,or proceedi�►g relating to the release or threatened release of any
<br /> Hazardous Substance or the violarion of any Envuonmental Law.
<br /> 18. CONDEMNATION.Trustor wlll give Beneficiary prompt norice of any pending or tl�reatened aetion,by private or
<br /> public endties to purchasc;or take any or all of the Property through condemnatton,emineat domain,or any other
<br /> means.Trustor authorizes Beneficiary to intervcne in Trustor's name m any of thc above described actions or cluims.
<br /> Trustor assigns to Beneficiary the proceeds of any awerd or claim for damages connected with a cnndemnation or other
<br /> taking of all or any part of the Property.Such proceeds shall be con�idered payments and wlll be applied as provided in
<br /> -- this Security Instrament.This assignment of proceeds is subject to the terms of any prior mortgage,deed of trust,
<br /> — security agreement or other Hen document.
<br /> 19. INSURANCE.Trustor shall keep Property insured against loss by rrc,flood,theft and other hazerds snd risks
<br /> — reasonably associated with the Property due to its type and location.This insurance shall be maintained in the amounts
<br /> � und for the periods that Bene6ciary rcquaea.The insurance carrier providing the insurance shaU be chosen by"I`rustor
<br /> -- subject to BeneGciary's ap�roval,wtuch shall not bc unreasonably w�thheld.If Trustor fails to maintain the ooverage
<br /> � �___L_.,..,.....o Rn�1P�MON mav.at BeneficiatY's option,obtam coverage to protect Beneficiary's rights in t�IC
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<br /> - Propercy according t�the terms of this Security Instrument.
<br />-�1 Afl insurance pollcies and renewals shall be acceptable to Bene6ciary and shall include a standard"mortgage clanse"
<br />- and,where applicable,°loss payee clause."Trustor shall immediately notify Beneficiary of cancellarion or termination
<br /> ? of the insurance.Beneficiary shaU have thc right to hold the policies and tenewals.If Beneficiary requires,Trustor s6a11
<br />: •; immediatcly give to Beneficiary �ll receipts of paid premiums and rene�val notices. Upon loss.Trustor shall �ivc
<br /> immcdiate notice to the insurance carrier and Bencficiary. Beneficiary raay make proof of loss if not rnade
<br />- immed[ately by Trustor. �pagB 3 or�)
<br /> 01991BNM�MSyeUms.InC.St CbW.MN It-800.197•231i)FOtmHti•DT.NE 9/13+88
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