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<br /> - T.Truetor wlll be in default if any partY obligated on thc Secured Debt fo ls�to'm hc�p�y�entn c�u�forethe
<br /> r 14. `DEFAUn• def4ult!f ipr���ppp�ccch occt�tq�e;�t���pe S A 8��fait�h belief by Beneficiary that Beneficiary ac eny
<br />;:s_ �v
<br /> ur�pose af��tid`�c�or��anFY�B p Al Of
<br /> :!': pime ie laaecu wi� to eny pereqn or ebtity obligatod oa the Secured Debt or that the prospect of any paymc
<br />::::��� tbe velue of the.Property l�innp�ired sl�ll also c°°atitute an event of default.
<br />.-�,� ls. REMEDIEB ON DEFAULT.In eome iastanc�s+ fodecal end etate law will requlre Beneficiary to provide Trustor with
<br /> �~$`� limltatiuna h if a�n yt �Be e lciary �may A�accelerat d tlte ySecund BDebt and fo eclosa thier Security In�trument��n a manner �
<br /> _,,� provlded by law if�IYustor Is in default.
<br /> ' At the optioa of Bene�icluy,all or aay p�notice ifrrequired bY law gupon t�e�occurre ce ofpa dcefaulthorl an �
<br />-�gimmediately due and payable, after giving
<br />;�� theresiter.In addltion, Beneficiary shall be endtled to all the remedies provided by law,the tenns of the Secured ebt,
<br /> :Z-� �g�ur[ty Insuumeat end aay related documents,including wttt�out limitation,the power to sell the Property
<br /> =—.; If there is a default,Trttstee ahall,in addition to any other permitted remedy,
<br /> at the r uest of the Beneficiary, advertise
<br /> -= and sell the Prope of all d htl title and inte�respoa Tlrustor atlsuch tinne and place�as t�ue designates.TfUSLGE 6�b'IVC
<br /> � tide&ee and clear g1�
<br />__�-� no�i�ble law i�n ef�gat�theti�me of tmh8e proposed ale.�e�d a descrlpdon of the pmpertY to be eold as required by e
<br />- -; aPP
<br /> -y Up'on sale of the property and ta the extent not prohibited by law,Tn�stee ehall make and deliver a deed to the Prflperty
<br /> soid which eonveys absolute tiAe to the purctiaser, and after first payin$ all fees, charges and costs. shall pa�y�
<br /> --s Beneficlary all maneys a dv a n c e d f o r r e p a i rs�,e���D bt�,�paying the surplus, i fdanY o�e T�� �n e fi c i y t n a Y
<br /> thereoa. and the principal aad intereat oa
<br /> _�� purchase the Pcopetty. The mc�tals��►Y deed of conveyaz►ce shall be pri�facie evidence of the facts set forth therein.
<br /> All remedies are distlact,cumulacive aad aot exclusive, and the Beneficiary is eatival to a11 rnet�es�p�r�Opa�t on the
<br />___ _ equity,whether or not expressly set forth.T1ie acceptence by Beneficlary of any sum in paYme P 1
<br /> w�aiv�e ofHenefieiarY's�t co ir�luire complete lcnre of aay exiating def��ilt pBy�no�c�ezc eing any hall�tty o T���s
<br /> rtd
<br /> er
<br /> default�Beneficiary doa aot watve�aeficfary s�B�t to later consider the event a default if it coatlaues or happe�i6�•
<br /> 16. E�X�NOEbi 1�T���grees co�pa�y�ll�ofrBenefTT�r�y'�P�s�ifETivator�bteac�heslu►y C e�wnt In thle�SecurltY
<br /> p y tia � preaervin or
<br /> Insaument. Truator will aleo psy on demaad eny amount incurred by Beaeficiary for insuring.ui�from tlie date o�the
<br /> ° 'v22t�c:w�st�s�ixiino�t,e Property and Beqeflciary'a sxudry interest.'Theae expeases will bear in
<br /> paymeut until paid�an tlill at the highat interest rate in cffcct aar�piavida!!n tht ternn�f rhe Secured Debt.Trusmr agtoes
<br /> �remed�es under�this Securi�ry eIna�uuma►t.T'tds amoe un maY ia l�ude but is not l�imited pto�attorne yBe fe�fisci�'�coste. a�d
<br /> �idation ceast�s of such�relea�se�ty ��t shall remaia in effxt until released. Truator agras to pay
<br /> for eny
<br /> 17. ENVatONMENTAL LAWS AND H�ZARDOU3 3UBSTAI�ICES. As used ��on a�nddLiabll1ityEAct(CBRCLA 42
<br /> means. wlthout llmitation,the Comprehensivc Environn�ental Response, Compeas
<br /> U.S.C. 9601 et seq:),and all other federal, stau aad local lawe, regulatioAS�ordinances. �°urt orders,attorc►eY 8ene�a1
<br /> opWons or inurpnuve lettecs coaceraing�oPu�b�ve o�r hazardo�� matcdal�wnsu�llutu►h or�°°on s�bns��nce�hdhas
<br /> Hazatdoua Stibstance meaa+ any toxic,
<br /> welfare or
<br /> �haractedsdca whieh render We substance dangerous or potendaUy dangeroua to e public hea1W. safety,
<br /> environment. The term indudes, w[thout limitation.anay substances defined as"herazdous maurial," "toxic snbstanca."
<br /> "ha7ardous waste"or"hazudoue substance"w►de�'anY Bnviroamental La�+•
<br /> Trustor repnseuta�warranta nnd agras that:
<br /> A.Exc,ept as previously disclosed and aclmowledged�g��ction does no�ap ly t small quantities of Hazardous
<br /> locatai, storod or released on or in the Property
<br /> Substances that are geaer�l[y tecognized to be ap roprlate for the normal use an maiutenance of the Property
<br /> B.Ex t aa previously disclosed aad acknowledg�ia wrlting w Benefi��ary Trus�r a°d every tenant hav�been,ere,
<br /> and�all remain ia fuU compliance with aayapplicable Environme�ntal Law.
<br /> - �.7Yustor shaU ;mmedletely notlfy Beneflciery if a release or threatened nlease of a Hazardoue Substance���°�,
<br /> under or about the PropectY or there is a violation of any Environmental Law coacerning the Property
<br /> event.Trustor shall take alI necessary remedial acdon ia accordance with eaY Environn�ental Law•
<br /> D.Ttustor shall i�nedlatcl yo�aotcl}r�Oticl���gtrelating w the�i�el teasehor threatened rel Vease of any�H�ueg
<br /> - or threatenal invesdgati � P
<br /> - Substance or the violation of any Environmental Law.
<br /> '� ro t notice of any pendins or threatenecl action,by private or ublic
<br /> = 18. CONDEMNATION.Trustor w[Il give Beneficiary p mp
<br /> `" entities to purchase or take any or all of the Property throuBh condemnatioa,an�ncnt dom�in.or any other means. tor
<br /> ��.� authorizes Eeneficiary to intervene W Truscor's name in anY of the above describod actions or claims.Trustor assigns to
<br /> ` °°` Beaeficiary the proceed�of any awarci or claim for damages connected wttli a wndemnation or other teking of ell or any
<br />'.�:—� patt of the Property �t of roceeds is sub�oithe�terms of ac►Y prlor mortgagepol�of tnpist�s�urity a�ireementlor
<br />.�, Insttumeat.'This essigntnen p
<br /> � other lien document.
<br /> 'w.� 19. INSURANCE.Tcusror ahall keep Pcopercy insured a8a�nst loss by fire,flood,theft and other ha�ards a�►d rlsks reasonably
<br />. �=;°�' associated with the Propecty due to ite type aad location.This insurance sball be maintained in tY►e amounts and for tl�e
<br /> ���"� pedode that Beuefclary re4uires• 'fhe insurance cerrier providing the insurance shall lx chosen by Trustor subject to
<br />- - Beneficiary'e a proval. which shall not be unreusonably withheld. If Truswr fails to maintain the coverage described
<br /> � , ����t rms of this Seciuiry I�ns etrument•8 option. obtain coverage to protect Beneficiary's rights in the Property accordinB
<br />.1•� to the
<br /> __M__J
<br /> _�'f.�;� All insurance policilossn aya cla seh�Trusto�r shalbli tm�iatelyCino i�Benefic clu of cancellauon or tearm[nation of the
<br /> �,.• � where applicable,
<br /> p Trustor shall
<br /> insurance. Beneficiary ehall have the rlght to hold the policies an renewals. f Beneficiary re4uTn�i'stor shall give
<br /> �.:•=,:�� i�nmediately give to Beneficiary all receipts of psid premiums ac►d renewal notices. Upon loss.
<br /> " immediate notice to the insurance ca:rier and Beneftciary.Beneficiary may make proof of loss if not made immediately by
<br /> w,�
<br /> , Trustor.
<br /> • fpage 3 o/RI
<br /> . ` pt984 0enk�n Sy�temr,Ine..St.Cloud,MH (1�800•397•Y3411 Fwm RE•OT�NE 12rt3196 '—
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