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<br /> - 14. DEFAULT.Trustar will be in deFwult if any party obligatcd on thc Secured Acbt fails to m e pa nt e ue.Trustor
<br /> ��� will be ia default if a breach occurs under the termv of thie Secudty Inetrument or any other document executc�d for the �f
<br />`�-,�." ��� pu r p ose of creating,securing or guarentying the Secured Debt.A good fuith belief by Beneficlary that Benefciary at aay �;,,''
<br />'°. �, . time is lns�ure w ith respect to any persan or e a t i t y o b l i g a t e d o n t h c S e c u re d D e b t o r t h a t t h e p r o s p e c t o f a n y pa yment or �;__
<br /> • � the value of the Propsrty ie impaired ehall also constitute aa eveat of default. �.:_
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<br /> � _ 15. REMEDIES ON DEFAULT. In some instances, federal and state law will require BeQeflciary to provide Trustor wlth
<br /> notice of thc right to cure or other notices and may establish time schedules for foxeclosure actions. Subject to these �_
<br /> � llip�Iat�0A9, lf any. HeaeBciary tnay accelerate the Secured Debt and forectose this Security Instrumeut in a maane: _
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<br /> pmvtded by law if Trustor is in dcfault.
<br /> ;�. �>' � At the option of Fieaeficiary all os any part of the agreed fees and charges,a�cnied interest and pdnci al shall me
<br /> •:;-.,wr•,;. , , itntnediately due and payabfe, after �iv3ng noticc if required by law, upon the ���ee erms of�e 3�ur�d ebt
<br />'`.-��_:,;_,';�� thereafter. Ia additioa, Beaeficiary shall be endtled to all the remedies provided by law. •
<br />''�:r�-.�:, th;s 5ecurity Instrument and any related documeats,including without limltatlon,the power to seil the Property.
<br />•�-'-`���'� If there is a default,Trustee ahall, in addltion to any other pem�itted remedy, at the request of the Beneficiary,advertise
<br /> .�r�.a��;r� and sell the Property as a whole or in separate parcels at public sucdon to the highest bidder for cash and convey absolute
<br />-..'-s� title free and clear of all rlght,dtle aad intecest of Tcustor at such tIme and place as Truatee designates.Trustee sha11 gtve
<br />":�� • nodce of sale including the time,tem�s and p1ace of sale and a descripdon of the property to be sold as required by the
<br /> �'���r�� apglicable law in effxt at the time of the pmposed sele•
<br />-'_°� Upon eale of the property and to the eatent aot prohibited by law Trustee sdall malce and deliver a deod to the Propetty
<br /> �.__� sold which couveye absolutc dde w the purcilaser, And after �irst pAYinB all fas, cherges and costs. shall pAy to _
<br /> -- --" Beaeficiery all moaeys advanced for sepaire. u►xa, insurance. Ilens. assessments and pdor encumbrances and 1n
<br /> terest
<br /> theroon, and the principal and interest on the Secured Debt, paying the surplus. if any. to Tnutor. Beneflciary tiuy
<br />=•�`��; purchase the Pmperty 1'he recit4ls in any deGd of convey�nce chall be pdma facie evidrnce of the focro set forth thcrein.
<br /> All remediea iue distinct,cumui�tive and not excluilva,�nd tha Brneticl�ry is entitled to�11 remodies pruvidrd�t law or
<br /> �1 equiry,whether or�wt eapreaaly set forth.The pcceptance by BeneDciary of any eum in p�yment or partl�l paymrnt on the
<br /> Secured Debt �fter the b�lance ie due or b acceler�ecd or�Rer fara.�fo�ure proceedtnge ace Ned ehall not corutlt�te a
<br /> _ deiult�8enetieluy d'oee n�ot wdvc&neflcl�Ary'a ci�ht to I ter cnnitder ths�cve�tt a default If�it c,�ontlnuee o hytppeni i��ittts
<br /> 16. EXPENSES; ADVANCE9 ON COVENANTSi ATTORNEY6' FEEBi COI.L�CTION COSTS. Except when
<br /> prohihited by�ltw,Trustor agtas ro pay all of Seneficlery's cxpenses If Ttuator breacha any covenant in thia Socurity
<br /> Inatrumeut. Truator will also pay oa demand eny aawunt �ncurred by &neticiuy for iasuring. inspecting, preserving or
<br /> oWerwise pmtoccing the Property�u�t Beaefciary's axurir;futer=st. 'i'�es!�exnenses wUl bear3nterest from tlie ds�u of the
<br /> � payment uatil paid la full at the highest interest rate in cffect as provided�n tlie urms of the Saure�Debt.Truswr agreea
<br /> to pay ell costs and eapenses incurred b &aeflciary in collecting, enforcing or pmtecting Benet�ciary's dghts and
<br /> o�tLer IeAg a�l eeicpevs�w..�T7ils��nIns�tcument�shatll�re ainuin e�ect8unti11 r�ete�ased.aTc�u.gtoi 8agreea o paY for�aaY
<br /> recordation costa of such relcase.
<br /> 17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCFS.As used Ia this secttoa. {1) Eavironmental Law
<br /> means,without liraitation, the Compnheusive Environmental Response, Compensatioa and Liability Act(CERCLA,42
<br /> U.S.C. 9601 et seq.), and all other federal. state and local lawa,regulations. ordlnaaces, court orders, attorney geaeral
<br /> opiniona or Interpretive letters conamin8 tiie public health.safety,welfate.eavironnxat or a hazardous substance;and(2)
<br /> Hazardous Substancc nxans any toxic, redioactive or ha7ardoue matedal, waste, po llutant or contaminant which has
<br /> characteristics which render the substance daz►gemus or potendally daz►gerous to the public health, safety. welfan or
<br /> environrnent. The term includes, wlthout limItation, anay aubstances defined as"hazardous material." "toaic substenaa,"
<br /> "hazardoua waste"or"harardoua substance"unAer aay Environmental Law►•
<br /> Tnistor npresents,warrants and agroes that: �yr� no Hazardous Substance is or will be
<br /> A.Except as previously disdosod aad acknowledged in writing to Beao�fici
<br /> locatod,stored or released on or in the Pr�perty.This resulction das not apply to small quandties of Hazardous
<br /> Subscances that are gener�lly secognized to be aP mprlate for the normal usc and maintenance of the Property.
<br />�,�i B.Bxcept as previously disclosed and acknowledg�in writlng tv Beneficiary,'I'rustor and every tsnant have been,sire,
<br /> --- and shall retnain in fu11 compliance with any applicable Environmental Law.
<br /> C.Trustor shall immediately aodfy Beneficiary if a release or threaceaed release of a Hazardous Sbbstance occure on,
<br /> under or about the Property or there is a vlolatioa of any Bnviro�uawtal Law concerning the Property. In such an.
<br /> event,Tn�stor shall take all necessary remedial acdon in accordance wich any Environmental L.aw.
<br /> D.Trustor ahall immediately aodfy Beneficiary in writing as sooa as Trusior has reason to believe Were is any pending
<br /> �� or threuteaext investigatiou, claim, or procccding relating to the release or thresuned release of any Hazerdous
<br /> ���--��-- S�bstance or We violation of any Environmental Law.
<br /> �''°��� 18. CONDEMNATION.'Tmator will give Beneficiary prompt noticc of any pending or threatened actton,by prlvate or�public
<br /> -�°��" entlties to purchase or take any or all of the Properry tluough condennnadon,eminent domain,or ac►y other tneane. Trustor
<br />:=�;�"-;«'�` authorizes Beneficiary to intervene in Ttustor's name in any of the above described actions or claiu�s.Trustor assIgns to
<br />' ""`'�� Beneficiary the prooeeds of any award or clalm for damages connecte:f with a condemnation or other taking of all or eny
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<br />_=�`����., part of the Property Such procceds shall be coasidered payments and will be applied as provided in this Secui3ty
<br /> °:s`:t,�;�, Iastrument.7�is e�slgament of proceeds is subject to the temis of any pdor mortgage,deed of m�st,securlty agreement or
<br /> ;;- .,..._:t..- other lien docurnent.
<br /> 19. INSUItANCE.Trnstor shall keep Property insured against loss by tlre,flood,theR and other hazards and dsks resisonably
<br /> • • assnciated with the Property due to its type and locadon. 11us insurance shall be maintained in the amounts and for the
<br /> �erlode that Beneficiary requires. The insurancc carrler providlng the insurance shall be chosen by Tn�stor subjat to
<br /> _ � Bene�iciary'ssapproval. wbich shall not be unreasonably withheld. If Trustor fails to �naintain the coverage descdbed
<br />•._����;: � r -: above,Benefic[�yr may,at Benet3ciary's option.obtain coverage to protect Beneficiary's rlghts in the Property according
<br /> `-1—.-�r+�•.__�— rn thn terma nf this Securitv Instrument.
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<br /> � � All insurancepolicies apd renewals ehall be acceptable to Beneficiary and shall include a standard"mortgage clause"and,
<br /> � " �. where applicable, "loss payee clause." Tcustor shall immediately noti�y &neficiary of cancellation or termination of the
<br /> , , insurance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires. Trustor shall _
<br /> immediately �tve to Benet"iclary all receipts of paid premiums and reaewal notices. Upon 1oss, Trustor shall give
<br /> immvdiate nonce to the insurance carrier and Beneficiary. Beneficiary may malce proof of loss if not made immediately by =
<br /> Trustor. -"
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<br /> mt984 Benken Svnems,Inc.,St.Ooud,MN I1•B00•39743at 1 Fum RE�D7•NE t 21Y3/B8 -
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