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<br /> �� < , obli ed on thc Se�e+1 Debt Pa�"l.c ta make payment evhenstae.Tmstor L.: ` , r
<br /> . 14.DEFA'ULT.T�stor w�7t be an defaalt if a�►P�Y . � , t, �� .e
<br /> . aill be in default i£a baeach oc,ca:s aader the tezms of 8ns Secarity In�mmeat os any other dacameai exe�ted for the , ..
<br /> ��� � � . � � g m p o s e o f c r e a d n g,s e c�u i n S�6�8�e Secared Dets� A good faith betief by Benefcciary tbat Beneficiary at auy �:. . .
<br /> q�is ins�e w�L respe�to any ers�n or entity obligated on the S�Debt or t h a t t he p msp�ct o f a n y p a y m e n t o r , a�
<br /> � ° .: t h e w a t u e o f t i�e P m g e s t q 9s i m r a u e d psball�also cansdtute an event of defaait. � � � . ,
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<br /> . - , 15. REIV�DI�S ON D�FAULT.�Ia sume ia�anoes,fe�teial and state!aw cv�l require BeueSciaiY to Provide T�ostar vi.th • �� •
<br /> ,:`°� � ,-(; antice of the �t to ciue or other naiices and may estab]ish time�utes far forectasv�e acuons. Sabjict�these _ a�'
<br /> limitattons, ifaay BeneficeacY nni►Y sccelerate tt�S�ur� Debt and faieclose tLis Seca�ity In��mment�a a manner ,
<br /> � �:, pmetded by law�f ifiastor is in def�. .
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<br /> `�• -���'"�- of the a fees aad�.acxt[eed iate�e.st ansl �st�a1�b�me - -
<br /> At the aptioa of Benefi ,ali ar any, part � �W, on the oowaencr o�a dei'aait or anyp�ne °`
<br /> � ���� ��g�y�h�1t� b�e e�tled t�atl�the�remedtes prrn ided bp taw,the tesms nf the Setuced Debt, , .
<br /> � ..� dns'�Se�a'tY I�u����►Y related doc�nmea�s.inclnding witho�limitatton,�Powe�c ro selt the Propert9. 5�- •��
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<br /> ` ' If thece is a defanh.Tiostee sba]},in addifwn to an oti�er peffiitoed�Y.�� of the Beneficiar9+advertise ;r � "'�'°
<br /> ` - -- as a whote ar ia a�ate �e pnblic saciion to the lugh�6i foi c,a�fi an3 com►ey absolute , -� _
<br /> .'.,-,, . anti sell the PmP�Y � � Trastee sbait give ` `�- ---
<br /> a@e fce�anct cleaz of ari right,atte and�ntezest of Tmstor as sndi time and place as T:osoee desgnates. ,
<br /> � nntice of sale incfadin8 the t�e.temas and place of saIe and a descripiian of tl�ee propertY to be so2d as nqait�i bY tise .: ,
<br /> , . , ,.,` ` aPPlicabie law in effectatthe time ofdie pmposed�le. '`_ - '
<br /> , '.,,�� Upon sale of the F�F�Y aud to tbe elsient not 'ted by law,Tnrsse�sball make and detiver a dced�o it�e Fmpertg -
<br /> _ • . so�d which comr►eys absotute titte tu tbe ,,and aRer f�st paping atl bees. cl�arges and oosts.s�alt paY to
<br /> , t; ' :r;, . Beue�cia�► aIl mayneys advanced for zepurs, taaes, msucance. liens, asses�nents and pIIOY�and lnie�sc t :_ _.;
<br /> °,�"�i; theropn, and die�1 and inte�sL an the Sc�ed Debt,Paying d�e sa�l°s, if any, Lo 1ku.sDnr- BeneSciazY,maY 1Sii��„ -`
<br /> pmcl�ase the Praperty.'Phe recitals in aay deed af coaveyance sball be pnma faae evtdeuse of the fac�s set farth therem- �;�._
<br /> .. .;_ camnlative and not ex,:tastve.and the Benef�y is entisled w aU ien�edies at l a w br � °'_ .. - _.
<br /> -- - - �. Ail re�dies are disdnct, ��� on the ---
<br /> eqaity,whe�or not e��lq set forth Th$acceptance by Beaefic�ar�►of any smn in paymeni or p P Y�t. � ,, -�_
<br /> Secaced DeSt after the balanc�is dae or is acce�e�aoed oi after foreclosai¢pmce�ings aze�d s1�ll nut consatute a , .�
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<br /> � ?: � .'. a�aiver of HeneSciary's rlght W regudr�c�c�e�af aoy e�dsting defanl�By not eae�ising anY remrdY on'il�astor's . �.�� __-
<br /> ` • � defaalt,BeIIeSc�at9 does not waive Bevsfic3ary's right w later wmsider d►e eveni a defavlt if it conWmes or�appens a$ain. E _:,-.. _.�-�_-
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<br /> . � 16.ERFEN�; ADYANCES ON COVENAN'�Ss A3TORNEYS' F�S; COId�CTION COST�. Excxpt when i _ -
<br /> pn�tu'bited b law. Tiustar a�topap ail of Bene s expeases if Tivstor breaches�uy coveaaat in this SecarllY g._ ---
<br /> �`'i:.� . �' � iustr�ten� �r will also pay on demaad any amunnt by Beaefcctary for imsuiing.inspecd�#S,pres ar � -
<br />;�'1 .. ' .. o�ernrlse pnu the Pmperty and BeneRciary's se+�arity interest.Tttes i a t T i e�s of t�h e�i 8�De�bi.T�nu r�a g r e e s� �...-�.,-
<br /> �� ' paynient unti!paid in liill at the highe.st inte�est rate ia effect as provided BeaeScfar9�s ci�hts aad .•�� ..--.._
<br /> to pa, aU casts and expenses incarred b• Beae6cIary in colferting. enfordny or luotecUnB �-.�_
<br /> � . . � . � �under this Sec�uity Imgwment.�amount may iacludc,but is�t limited w.attomeps'fees,oow4 costs.aad .._;_ ` —
<br /> � . other 1 expen�es. Tbis Secwdty Iasuument shail remain iti effect until :eteased. T�sWr a�rees to pay for any. . � _ _
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<br /> . . . . . recordat�on costs of snch release. � :•
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<br /> 1T. ENVIItONIVlEN'�AI. LAWS AND�AZAt31D0US SUBSTANCES. As tlsed in this sectiun, (1}Bmmm�miental I:aw � -�
<br /> � meaas.without linmitation, tue Comprehenstve Emr�onmental Response,Cmnpensarion�and Liab'o'il�Act(C�RCLP►,42
<br /> �;�.� . . . �'� dons.ordi�:es cotut auos�Y Se� .... . -w
<br /> , U.S.C. 4601 ec seq),and a ll o t her.f e d e i a l,s r d t e a n d I a c a l l a w s, r e g u l a +
<br /> .: � -' � ' o�pinions or inteipreave leuers conC�ming the public health.safery.welfaze,emim�ent or a�aZardons su6stance;and(2) �---�--�.
<br /> , ` � H a z a r d o u s S u b s t a n c e m e a u s a n Y w a i c, rad'ioacave or 1►azardnas mate�ial. waste. pO�IIIf3IIt OI CON2minant WL1Ch b25 -
<br /> � cbaracxeristics whieh render the substance dangerons or potentiallY dangerans w the pu b l i c he�lft�. s a f ety, w e l f a r e o r � ....,. .��„�y
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<br />- em�Iro�ent.'I7ie cer�inclndes. wIthont limitadon,an sny _b����s°harardoas material." 'Wxic substances; --
<br /> • - "bazardoas waste° or°hazardons substance°under any Bnvironm . � ---
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<br />�„ : �. .' Tcnstor represents,waaaanis and a�es thar �' •`-_� =
<br /> �`. ,. ' • A.Bxeepi as previorsly disclosed aad aclmowt�ged in writing to Beneficiary,no Harardous Snbstanae is or will be �..,..-� ,:__
<br /> . locai�d,stored or released on or in the Property.Tt�is testriaion does notapply m small quantiaes of Ha�ardpns �
<br /> '": � . . � Substances t b at are g e n e r a l iy r e c o g a 3 z e d t o b e a p r o p t i a t e f o r t h e n o i m a l u s e a a d m a i n t e n a u c e o f t h e Y r a pe rt y. �_-~ ---_
<br /> f. �� . . • B.Bx t a�pr+eviaaslq disclosed and ac�owledg�in writin�to BeneSciary,7Yustor and every tenant have been,are, —_
<br /> and�iemain m fall wmpliance with any applicable Emnmamental Law. _
<br /> � ° � � � C.Tzustor shall iramediately nodfY BeneficiaiY jf a retease or threatene0 release o�r a Hazardaus Snbs[ance occurs on, •� ,., -
<br /> � under or abont the Froperty or there is a viola6un of any F,nviFOn�nental I�w concetning the Pra�erty In sucb an y
<br /> � event,Ttustor sha11 take all necessary remedial action in accorOance wlth any Emirowuental Law. ��., .; , ..
<br /> � ' D.Tn�stoi s�all immediately notiffy,�eneficiary in wrinng as saon as Tmstor I�as reason to believe there isauy pending .
<br /> . ,• � � � ar threatened iavestigadon, claim,or praceeding relafwg W ehe release or thieatened release of any Ha7ardm�s • .
<br /> � �� Snbstance or the vinlaflon of any Bmrimnmental Law• ,
<br /> I'. �+� . � . 18. CONDEN�IVATION.Ttuswr wiU give Ben$ficiary prompt uodce of aay�ending or threateneA acdon,by private or public
<br /> entiues to��rchase or ta.ke any or all of the Property through condemnaaon,eavnent domain,or a�ny ot�er means.Trusto: .
<br /> � • �� authorizes�ene�CCiary to interrene in Tiustor's name in any of the above described actions or claims. Tmstor assigns to . •
<br /> � Beueffc3ary the pmcrxds of any award or claim for damages connected with a condemnadon or ather talting of all or any
<br /> part of the Praperty. Such proceeds sball be considered payments and will be applied as provlded in tbis Seciulty
<br /> . � ' Instrument.This assignment of proceeds is subject to the[eims of any prior mortgage,deed of wst,securIty agreement or , ,. .
<br /> . � � . other llen documen� ' . '
<br />� . 19. INS1J�tANCE.Tn�stor shall keep Property iasured agai�t lass by fire,flood,theft aad otfler Uazards and tislss reasonably '
<br /> � associated wim the Propeny due to its type and lacation. TWs insurance shall be maintained in the amour►ts an0 for the .
<br /> . , periads that BeneSciary requices. The msurance canier Pmvictiing the insuiance svall be chosen by TtnsWr subjECt to :
<br /> a
<br /> Beneficiary's approval, wluch shall uot be unreaso�aLly withheld. if Tntstor fails to maintain the coverage described
<br /> � a b o v e,B e n e 6 s i a r y m a y,a t B e n e fi c i a ry's o p ti o n,o b t a i u c o v e r a g e to protect BeneBci a r y's ri g hts in t�e Pcoperty according .
<br /> : ' � to the temas of th�s Security lnstniment. ,
<br /> ' ' All insurancepolicies aad reaewals shall be accepta61e to Beaeficiary and sball inc�ude a standard"mortgage clause°and, � . � .
<br /> � where appllcable. 'loss payee clause."Ttustor shall immediately nodfy Beneficiary of cancelladon or termination uf the � �
<br /> � it�surance. Bene�tciary shall have the right to hold the policies bnd renewals. If Beneficiary reqnires. Trustor shall .
<br /> �• • immediately �Ive to Beneficiary a11 receipts oF paid premiums and ren:wal nodces. Upon loss, Ttustor shall give ,: �
<br /> �.. • . immediate noace to the insurance carrier aad Baneficiary.Beneficiary mey wake pmof of loss if not a:ade immediately 6y ��
<br /> . ' Trustar. �
<br /> � : Ipage J 41 . .. ;
<br /> � 018fl6 8entaro S/ftetn9.InC..St•C1oud,MN 11•800381•134t1 Form 8E•OT•qE 8113/88 �' •
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