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<br /> executed for the purpose of crcating,securing or gusrnntying the Secured Dcbt.A good faith �li f y nder thut
<br /> l.endcr at any time is insccurc with respcct to any person or entity obligated an thc Sccurcd Dcbt or that thc prosNect
<br /> of any payment or tl�c vnluc af tltc Propeny is impaired shall alsa constitutc An evcnt of default. i
<br /> 15. REM�DIES ON DEFAULT. ln sumc instanccs,fedcral and stute law wiil rcquire I.ender to pravidc C;r��ntc�r with '
<br /> notice of the right ta cure or other notices and rt�ay establish ttme schedules for foreclosure uctians.Suh]ect to these .
<br /> limitations, if any> I•ender mRy acccicratc the Secured Debt and foreclosc this Sccurity Instrumcnt in a manncr P
<br /> provtdcd by law if Grantor is in dcfault.
<br /> At the option of[.ender,all ar any part of the ugreed fees and ct�atges,accrued Interest and principul shall become
<br /> immediately due and payable. aftcr giving notice jf required by law,upon the occurrence of a default or anytime
<br /> thereafter. In add3tIon,Lender 9ha11 be entiticd to all the remedies provtded by law,the tern�s of the Secured Dcbt.
<br /> this Securfty Instrument and any related dacuments.including without lim[tation,th c power to sell the Propeny.
<br /> If there is a default.Trustee shall,in addition to any oiher permitted remedy, at the rcquest of the l.ender.advertisc
<br /> and sell the Property as a whole or in separate parcels at public auction to the iaighest bidder f�r cash and convey
<br /> absolute titic frce and clear of all right,title and interest of Grantor at such time and place as Trustee designates.
<br /> Trustee shall give notice of sale including the time.terms and place of sale und a description of lhe property to be sold
<br /> as required by the appl3cable!aw in effect at the time of the proposed sale.
<br /> Upon sale of the property and to the extent not prohibited by law,Trustee shall make and delive;r a dccd to the Property
<br /> sold which wnveys absolute title to the purchaser,and after first paying all fees,charges end costs,shall pay to Lender all
<br /> moneys advanced for repairs,taxes,insurance.liens,assessments and prior encumbrances and interest thcrcon,and the
<br /> principal and interest on the Secured Debt,paying the surplus,if any,tu Grantor.Lendcr may purchuse tlte Property.
<br /> The recitals in any deed of wnveyanc�e shaU be prima facte evidence of the facts set forth thetein.
<br /> All remedies are distinct,cumulative and not exclusive,and the Lender is entitled to aU remedies provided at law or
<br /> equity,whetlier or not expressly set foxth.The acceptance by Lender of any sum ia payment or partial payment on the
<br /> Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are C�led shall not constitute a
<br /> wniver of Lender's right to require complete cwe of any existin$default. By not exercising any remedy on Grantor's
<br /> default.L.ender does not waive I.ender's right to later consider the event a default if it continues or happens again.
<br /> 16. EXPENSES; ADVANCES ON COVENANTS;ATTORNEYS'FEES;COLLECTION COSTS.Except when
<br /> prohibited by law,Grantor agrces to pay all of Lender's expenscs if Grantor brcaches any covenant in this Securlty
<br /> Instrument.Grantor wlll also pay on demand uny amount incurred by Lender for insuring. inspecting,preserving or
<br /> othenvise protecting the Propeny and Lendcr's security interesl.These expenses will bear�nterest from the date of
<br /> the �,ayment until paid in full at the hi�hest interest ratc In effect as provided in the tcrms of th� Secured Debt.
<br /> Grantor agrees to pay all wsts and expenses incurred by Lender in eollecting.enforcing or proiecring Ixndcc's ii��is
<br /> and remedies under this Security Instrument.This amount may include. but is not flmited to,attomeys' fecs,wurt
<br /> costs,and other legal expenses.This Security Iastrument shall remain in effect unlil rcleased.Grantor agr�es tu pay
<br /> tor any rewrdation costs of such release.
<br /> 17. ENVIRONMENTAL LAWS AND HAZARD03JS SUBSTANCE9.As used in this section,(1) Environmental Law
<br /> means,without Itmitation,the E:omprehensive Environmental Response,Compensation and Liability Act(CERCLA,
<br /> 42 U.S.C. 9601 et seq.), and all other federal,statc and local laws,regulations, ordinances,court orders,attomey
<br /> general opinions or interpretive letters concerning the public health,safety.welfare. environmeat or a hazardous
<br /> substance;and (2) Ha�ardous Substance means any toxtc,radioactive ar hazardous material. waste,pollutant or
<br /> contaminant which has characteristics which render the substance dangerous or potenti�lly dangerous to the public
<br /> health,safety, welfare or environment.The term includes,without IimItation.any substances defined as "hnzardous
<br /> material;'"toxic substances;'"hezardous waste"or"hazardous substance"under aay Environmental Law.
<br /> Grantor represents.warrants and agrees t:�at:
<br /> A. Except as previously disclosed and acknowledged in writing to L.cndcr.no Ha7,ardous Substance is or wiU be
<br /> located.stored or released on or in the Property.Th[s restriction daes not apply to small qunntities of
<br /> Hazardous Substances that are generally recognized to be appropriatc far the normal use 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 remai�s in full compliance with any applicable Env�ronmentel Luw.
<br /> C. Gruntor shall immediatcly notify Lender if a release or threatened releasc of a Hazardous Substance occurs on,
<br /> under or about the Property or thcrc is a violation of any Environmental Law concerning the Property.In such
<br /> an event,Grantor shnll take all necessary remedial acHon in uccordance with any Environmental Law.
<br /> D. Grantor shall immediately notify Lender ir►wr�ting as soon as Grantor hes rcasom to bclieve there is any
<br /> pending or t(ircatened investigation,claim,or procecding relating to thc releasc or threatened release of any
<br /> Hazardous Substancc or the vio(ation of any Env�ronmental Law.
<br /> 18. CONDEMNATION.Grantor will give I.ender prompt noticc of any pending or threatencd action,by privatc or
<br /> public entitics to purchase or takc any or all of the Property through condemnation, eminent domain,or any other
<br /> means. Grantvr authorizes Lender tv intervene in Grantor's name in any of the above described actions or claims.
<br /> Grantor assigns to Lender the procceds of any award or claim for damages connectcd with a condemnation or other
<br /> taking of all or any part of the Property.Such proceeds shall be considered payments and will be applicd as provided in
<br /> this Security Instrument.This assisnment of proceeds is subject to the terms uf any prior mortgage,dced of trust,
<br /> security ageemcnt or other lien document.
<br /> 19. INSURANCE.Grantor shall kecp Property insurcd against loss by Fire,flood, theft and other hazards and risks
<br /> reasonably essociated with the Property due to its type and location.'This �nsurance:shall be mnintained in the amounts
<br /> and for the periods that Lender requires.The insurance carrier providing the insurance shall be chosen by Grantor
<br /> _..�:..... ... r.....�..�•.........�...,..t .�I,:..h chut�nnf hn ��.,�•�a�.,nahlv wirhheid.if Grantur faiLs to maintain the coverage
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<br /> descnbed above.Lcndcr may,at Lender's option,obtain coverage to protcct L.ender's rights in the Property according
<br /> to thc terms of this Sccurity Instrumcnt.
<br /> All insurancc policics and renewals shall be acceptablc to Lender and shall includc a standard"mortgagc clause"and,
<br />- whcre applicable."loss payee clausc."Grantor shall immecliatcly notify Lcnder of canccllation or termination of the
<br /> . insurance.Lc;nder shall havc the right to hold thc policies and renewals.If Li:nder requires,Grantor shnll immcdiately
<br /> - �ive to L.ender all reccipts of paid prcmiums and rene�val noticcs.Upon loss.Grantor shall give immediatc notice to
<br /> the insurance carricr and Lcndcr.I.ender may makc pronf of loss if not made immediat�ly hy Grantor.
<br /> (pago 3 of�)
<br /> 918y1 Bonkem Syqnm�.lnc,SI Cloud.MN It-800.19)•2311)FO�m RE-OTNE BI&84
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