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<br /> executcd for thc purposc of crcadng.sccuring or guaruntying thc Secured Debt. A good faith bclicf by l..cndcr that
<br /> Lc:ndcr nt any timc is insccurc with respcct to Hny person or cntity obllgated�n thc SecurcJ Debt nr that thc pr•ospect
<br /> of any puymcnt or thc v�lue af thc Pruperty is impnircd shall also constitutc an evcnt of dcfault.
<br /> 15. REMEQIES t)N DEFAULT.In some instnnces,federal and statc Inw will requirc[.c:ndcr ta providc Cirantur with
<br /> notice af the right to cure or ather notices And may establish time schedules far foreclasure uctions. Subject to thesc
<br /> limttations,tf any.�.cndcr may acccicratc thc Sccured Dcbt and toreclosc this Security Instrument in a manncr
<br /> provided by law if GrAntor is in dcfi�ult. -
<br /> At the option of[.ender,all or any part of the agrecd fces an�i charges,accrued interest and principal shall become
<br /> i�nmedintely due and payablc,atter giving notia: if required Uy law, upon the occurrence of a default or anytime
<br /> thercaftcr. In addition.I.ender shall bc entitled to all the remedies provided by law,thc tcrms of thc Secured llebt.
<br /> this Security Instrument and any related dacuments,including without limitation,the power to sell thc Property.
<br /> If there is a default,Trustce shall,in addition to any othcr permittcd remedy,at the request of the L.ender,advertise
<br /> and sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash and convcy
<br /> ubsalute tltle free and clear of all right, title and tnterest of Grantor at such time and place as Trustec designates.
<br /> 'Crustee shall givc notice uf sale including the time�terms and placc of sale and a description of the property to be sold
<br /> as required by the applicable law in effect at the time of the proposed sale.
<br /> Upon salc of thc property and to thc extent not prohibited by law.Trustee shall makc and deliver a decd to the Property
<br /> sold which conveys absolute titic to the purchaser,and after Grst paying all fees,charges and costs,shaQ pay to Lendcr all
<br /> moneys advanced for repairs.taxes,insurance,ltens,assessments and prior encumbraRCes and interest thereon,and the
<br /> principal and interest on the Secured Debt,payIng the surplus,if any,to Grantor. i.ender m�y purcha5e 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 Lender is enlitled to all remedIes provided at law or
<br /> equity.whether or not expressly set forth.The acceptance by I.ender of any sum in payment or partial payment on thc
<br /> Secured Debt atter the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a
<br /> waiver of I..ender's right to require complete curc of any existing default.By not exercising any remedy on Grantor's
<br /> default,Lender does not waive L.ender's right to later consider the event a default if it continues or happens again.
<br /> 16. EXPENSES; ADVANCES AN COVENANTS;ATTORNEYS'FEES; COI.LECTION COSTS.Except when
<br /> prohibited by law,Grantor agrces to pay aU of Lender's expenses if Grantor brcaches any covenant in Rhis Security
<br /> Instrument.Grantor will also pay on demand any amount incurred by Lender for insuring,inspecting,preserving or
<br /> othenvise protecting the Property and Lender's security interest.These expenses will baar interest from the date of
<br /> the payment untIl paid in full at the highcst interest rate in effact as provided in the terms of the Secured Debt.
<br /> Grantar agrees fu pay ait w�is ri.i�ciiNcnsei incttrrcd!�y Lcndcr in ro(2cciing,cnforcing or proicciiag Lcndcr'�sights
<br /> and remedies under this Security[nstrument.This amount may inc?ude,but is not limtted to,attomeys'fces, court
<br /> costs, and other legal expenses.This Security Instrument shall remain in effect until released.Grantor agrees to pay
<br /> for any recordation costs of such release.
<br /> 17. ENVIRONMENTAL LAWS AND HAZA1tDOUS SUBSTANCES.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 all other federal,state and local laws,regulations.ordinances,court orders,attomey
<br /> general opinions or intcrpretive letters concerning the public health,safety,welfare, environment or a hazardous
<br /> substance:and(2)Hazardous Substance means any tox3c.radioactive or hazardous material,waste,pollutant or
<br /> contaminant which has characteristics which render the substunce dangerous or potentielly dangerous to the public
<br /> health.safety,weifare or environment.The term includes, wtthout limitalion,any substances defined as "hazardous
<br /> material,""toxic substances.""ha�ardous waste"or"hazardous substence"under any Environmental Law.
<br /> Grantor represents,warrants and agrees that:
<br /> A. Except as previously disclosed and acknowledged in writing to Lender,no Hazardous Substance is or wUl be
<br /> located,stored or released on or in the Property.This restriction does not apply to small quantities of
<br /> Hazardous Substances that are generally recognized to be appropriate for the normal use and maintenance of
<br /> the Property.
<br /> B. Except as previously dlsclosed and acknow(edged in writing to Lender.Grantor and every tenant huve been,are,
<br /> and shall remain in full compliance with any applicable Envirun►nental Law.
<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 concerning the Property.In such
<br /> an event,Grantor shall take all necessary rcmedial action in accordance with any Environmental Law.
<br /> D. Grantor shell immediately notify Lender in writing as soon as Grantor has renson to believc there is any
<br /> pending or thrextened investi�ation,claim,or proceeding relating to the release or threatened relcase of any
<br /> Hazardous Substance or the violation of any Environmental I.Aw.
<br /> 18. CONDEMNAT[ON. Grantor will givc Lender prompt noticc of any pending or thrcatened action,by private or
<br /> pubGc entities to purchase or takc any or all of tfie Property through condemnation,cmincnt domain,or any other
<br /> mcans.Grantor authorizes Lendcr to intervene in Grantor's name in any of the above described actions or claims.
<br /> Grantor assigns to Lcnder the praeeds of any award or claim for damages connccted with a condemnation or other
<br /> taking of all or any part of the Property.Such proceeds shall bc considcred payments and will be applied as provided in
<br /> this Security Instrument.This assignment of procecds is subjcct to the terms of Any prior mortgagc,deed of trust.
<br /> security agreement or other lien document.
<br /> 19. INSURANCE.Gruntor shalt kccp Property insured against loss by fire, flood,theft and other hazards and risks
<br /> reasonably associated with the Property due to its type and location.'This�nsurancc shall be maintained in the s�mounts
<br /> and for the periods that Lender rcquires. The insurancc carricr prnviding thc insurancc shall be chosen by Grantor
<br /> subject to Lcnder's approval,tvhich shall not be unrcasonably witNheld. If Grantor fails to maintain the coverage
<br /> describcd abovc,I..cnder may,at Lender's opuon,obtain covcrage t�protect Lendcr's nghts in thc Property according
<br /> to the tcems of this Security Instrument.
<br /> All insurance policics and rencwals shall be acceptable to Lender and shall include a standard"mongage clause"nnd,
<br /> whcrc applicahlc."loss payee clause."Grantor shall immcdiatcly notify Lender of canccllation or tcrmination ot the
<br /> insurance.L,ender shall havc the right tu hold the policies and renewals. if Lcnder requires,Grantor shull immcdiately --
<br /> givc to G:ndcr ap rcccipts of paid premiums and rencwal noticcs.Upon loss,Grantor shall givc immcdiatc noticc to
<br /> thc insurancc carricr and Lender.Lcndcr may make prnof of lou if not made immediately by Grantor.
<br /> (page 3 of 4)
<br /> 9199fBankemSyaicm�.tnc.S�C�oud.MN(1�8W.397•IJdtl Fom�qE07•NE&'8�91
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