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<br /> executed for thc purposc of crcuting,sccuring or guarantying tt�c Sccurcd Dcbt.A good faith bclicf by Lendcr that
<br /> L.ender at any time is insecure with respect ta any person or entity obligated on the Secured Debt or that the prospect
<br /> of any payment or the value af the Pr�perty is impalred shall also constitutc an event of default.
<br /> � 15. REMEDIE5 ON DEFAULT.In some instances.federal and state law w�11 require Lender to provide Grancor with
<br /> notice of the right to eure or other notices and may establish time schedules for foreclosure actions.Subject to these
<br /> limitatlans, if any, I.ender may accclerate the Secured Debt and foreclose this Security Instrument in a manner
<br /> provided by law if Orantor is in dcfault. _
<br /> At the option of Lender,all or any part of'thc agreed fccs and chargcs.accrucd interest and principal shall become
<br /> immediately due and payable,after giving notice i[required by law,upon thc occurrence of a default or anytime
<br /> thereafter. In addition, I.endcr shall be entitled to all thc remedies providcd by law,.thc tcrms ot the Securcd Debt.
<br /> this Security Instrument and any related docurnents,including without limitation,the power to sell the Property.
<br /> If there is a default,Trustee shaU.in addition to any other permitted remedy,at the rcyucst af the Lendcr,Advcrtisc
<br /> and sell the Property as a whole or in sepurate parcels at public auction ta the highcst hidder for cash an�convey
<br /> absolute title free and clear of ap right,title and interest of Grantor nt such time and placc as Trustcr designates.
<br /> Trustce shall$ive noticr;of sale including the time,terms and place of salc and a dcscription of the property to be sold
<br /> as required by the applicable law in effect at the ttme of the proposed sale.
<br /> Upon sale of the property and to the extent not prohibited by law,Trustce shal�make and dcliver a deed to the Property
<br /> � sold which wnvcys absolute title to the purchaser,and after first paying aU fees,charges and costs,shall pay ta Lender all
<br /> " moncys advanced for repairs,taxes,insurence.liens,assessments and prior encumbrances and interest thereon,and the
<br /> � principal and interest on the Sccurcd Debt,paying the surplus,if any,to Grantor.Lendcr may pwchase the Property. _
<br /> The recitals in any deed of conveyance shall be prima facie evidence of the facts set forth therein.
<br /> = All remedies are distinct,cumulative and not exclusive,and the I.cnder is cntided to all remedies provided at law or
<br /> = equity,whether or not expressly set foRh.The acceptance by I..ender af any sum in payment or partial payment on thc
<br /> = Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a
<br /> � waivcr of Lt:nder's right to requirc completc cure of any existing default.By not exercising any remcdy�n Grantor's
<br /> - default.Lender does not waive I.ender's right to later consider the event a default if it continucs or happens again.
<br /> 16. EXPENSES; ADVANCES ON COVENANTS;ATTORNEYS' FEES;COLLECI'ION �OSTS.Fxcept when
<br /> prohibited by law,Grantor agrees to pay all of Lender's cxpenses if Grantor brcaches any covenant in this Security
<br /> Instrument.Grantor will also pay on�lemand any amount incurred by Lender for insuring,inspecting,preserving or
<br /> otherwise protecting thc Property and Lender's security interest.These expenses will bear interest irom the date of
<br /> the payment until paid in fuU at the highest interest rate in effect �s provided in thc terms of the Secured Debt.
<br /> Grantor agreec���,�y R����cts and ex�enses incurred by I znder in collectine,enforcine or protectine Lender's rights
<br /> and remedics under th3s Security Iustrument.This amount may include,but is noi limited to,attorneys'fees,court
<br /> costs,and other legal expenses.T'his Security Instrument shall remain in effect until released.Grantor agrees to pay
<br /> - for any recordation casts of such release. _
<br /> 17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANC�S.As used in this section.(1)Environmental Law
<br /> means.without limitation,the Comprehensive Environmental Response,Compensation and Liability Act(CERCLA.
<br /> 42 U.S.C. 9601 et seq.),and aq other federal,state and local laws.regulations,ordinances,court orders,uttorney
<br /> general opinions or interpretive letters concerning the public health,safety,wclfare,environment or a haxardous
<br /> substance; and (2) Haiardous Substance means any taxic,radioactive or hazardous material,waste, pollutant or
<br /> contaminant which has characteristics which ren��er the substanc:e Junge:rous or potcntially dangerous to thc publlc
<br /> health,safety,welfare or environment.The term includes,without limitation.any substances defined as"hazardous
<br /> material;'`•toxic substanees,"`•hazardous waste"or"haz.ardous substance"under any Environmental Law.
<br /> Grantor represents.warrants and agrees that:
<br /> A. Except as previously discloscd and acknowledged in writing to I.cnder,no Hazardous Substance is or will be .
<br /> located.stored or relcased on or in the Property.This restriction does not apply to small quantitIcs of
<br /> Hazardous Substances that are generally recognized to be appropriate for the normal usc 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 remain in fu11 compliance with any applicable Environmental I.aw.
<br /> C. Grantor shall immediately notify Lender if a release or threatened release of a Hazardous Substance occurs on,
<br /> under or about the Property or therc is a violation of any Environmental Law conceming the Propc:rty.In such
<br /> an event,Grantor shall take nll necessary remedial action in accordance with any Environmental Law.
<br /> D. Grantor shal[ immediatcly notify Lendcr in writing as soon as Grantor has reason to bciicve ¢herc is any
<br /> _ pending or threatened investigation,claim,or procceding rclating to the rclease ar threatened relcase of any
<br /> � Hazardous Substance or the violation of any Environmental Law.
<br /> � 18. CONDEMNATTON.Grantor will givc Lendcr prompt nolicc: of any pcnding or thrcatcned uction,by private or
<br /> - public entities to purchase or take any or aU ot the Property through condcmnation,eminent damain,or any otlier
<br /> � means. Grantor authorizes L.ender to intervcne in Grantor's name in any of the above described actions or claims.
<br /> - Grantor assigns to Lender the pra:ecds of any award or claim For damages connectcd with u condemnation or other
<br /> - taking of all or any part of the Property.Such proceeds shatl be considered payments and will be applied as provided in
<br />_;� this Security Instrument.This assignment of proceeds is subjcct to thc terms of any prior mortgage,deed of trust.
<br /> - security agreement or other lien document.
<br /> _� 19. INSURANCC.Grantor shall kccp Property insurcd against loss by�re,flond,thcft and othcr hazards and risks
<br />- rcasunubly associated with thc Property duc to its type and Icxation.This�nsurance shall be maintained in the amounts
<br /> y and for thc periods that I.endcr requires.The insurancc carrier providing the insurance �hall bc choscn by(ir�ntor
<br />-:� subjcct to Lcndcr�5 BnpCOV3I,which shall nut bc unrcasonably withhcld. If Grantor fails to maintain thc rovcragr
<br /> .�.....:1....7..h... i..,.�.. �.� i.....IN ..�:., ..ht.. .�.. ..r.,rt i.�n.lWr'c rinhtc in th..Pr.in.,rtv arrnr�lino
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<br /> i'� to thc tcrms of this Sccurity Instrumcnt.
<br /> All insurancc policics and rrncwuls shu11 Nc acc�ptublc ta L.cndcr and shall includr a stundard"mongagc clausc"and,
<br /> � whcre applicable,"loss paycc clausc."Grantvr shall immediatcly notify I�ndcr of canccllation or termination of tUc
<br /> insurancc.I.ender shall have thc right to hold the policics and renewals.If I.ender requires.Grantor shall immediatcly
<br /> givc to Lendcr all reccipts of paid premiums and renewal notices.Upon loss,Grantor shall givc immediatc notice to
<br /> thc insurancc carricr and L.cndcr. Lendcr may makc proof of loss if not madr immcdiatcly by Grantor.
<br /> (page 3 014)
<br />. �1991 Bankcrn Sy6tem�.lnc.St Cloud.MN 11�8WJ9747111 Fam RE-0T•NE 84894
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