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<br /> 14. DEFAULT.Trustor will be in defuult if nny parcy obligated mi the Securcd Debt falls to make payment when due,Trustor . �
<br /> will be in default if s bre�ch occurc under the temw of this Secudry Instrument or Q11 enecr aryihatn8enefici yf nt anY .'
<br /> purpose of creating,securing or guan�nt�nnor entit�a6lign�t�dton the Socured Uebt orYtt►at the prosp�ct of nny pnyment or �
<br /> time ts insecure with tespdct to eny�c. Y . ., :;
<br /> the value of the Pr�perty i9lmpAired ehall also conetttuto an cvent of default. „
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<br /> 15. REMEDIES ON DEFALTLT. In some instances, federal and state law will require Beneficiary to pravide Truetor with ,r ..
<br /> notic:e of thti rigtu to cure or other notices end may establish time schedules for foreclosure actions. Sub'cc[ to these ,_
<br /> limitadons, if any, Beneftciary may accelcrate the Secured Debt and fora:lose thie Securiry instrunicnt �n a manner `t`V = , ��r:,
<br /> � -�^` ` provided by law if Trustor is in default. :,;"��t ". -
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<br /> ,+. Atru�iapely�dueBand payable�lafter giving notice�At�tre�qulre�,d by law supon�th eoccunen�of a�defaulthor�any imc ��.��s- . —
<br /> the terms of the Secured Debt, �. ;s.;,,°�t. .'�
<br /> thereafter. ]n additlon, Beaeficiary shall be entitled to all the remedies provlded by law, ;� ___
<br /> this Security Instrumr.nt and any related documents,including wlthout limitanon,the power to sell the PropenY• �j���yf���'='
<br /> If there is a default,Trustee ehall, in addition to any other permitted remedy, at the re quest of the Beneficiary, advertise .��*�3
<br /> and sell the Property es a whole or in d in eres pof Trusrop atlsuch time an place asSTn st�ee des�aa esTru tee shall give ������-
<br /> � tttle fcee and clear of all right, title an
<br /> notice of sale including the time, terms and place of sale and a description of the property to be sold as required by the �,�;'�
<br /> applicable law in effect at the time of the proposed sale. • :{��� .=
<br /> • Upon sale of the property and to the extent not prohibited by law,Tn►stee shall make and deliver a deed to the Property � r�, _.
<br /> sold which conveys aUsolute title to the purcfiaser, and after first payiag all fees, charges end costs, shall ay to :;,�f;_
<br /> Beneficiary all moneys advanced for repairs, taxes, insuraace, liens, assessments and prior encumbra�ices and
<br /> nterest i:; .,,�:
<br /> thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, ta Trustor, Benr:ficiary may ___
<br /> ptuchase the Property.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 Benet`iciary is entitled to all remedies provided at law or
<br /> ,g� equity,whether or not expre�escley is due or is acceleiated oryafterefor�los tanP oceedingsmare tileds hall ln tywn titute a
<br /> Secured Debt after the bal �
<br /> �• waiver of Beneficiary's right to require complete cure of any existing default. By nat exerctsing any remedy on n as�cao,lr�s �j
<br /> default,Beneficiary does not waive Beneficiary's risht to later consider the event a default iC it�antinues or happe
<br /> + 16. EXPENSES; ADVANCES ON COVENAIVTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when
<br /> prohibited by law,Trustor agrees to pay all of Beneficiar�r's expenses if Trustor breaches any covenant in this Security
<br /> Instmment.Trustor will also pay on demand any amount incuned by Beneficiary for insudn�,inspecting, reserving or
<br /> otherwise protecting chellat t�heyhi hesBt interest rate n effect as provided�n thPe terms of he Secured�uebin�radoti of�e
<br /> payment until paid in fu S
<br /> to pa y, all costs and expenses incuned by Beneficiary in,collecting, enforcing.or protectin� Beneficiary's rishts and
<br /> �• remedies under this Security Instrument. This amount may include, but is not limrted to, attorneys' fees. court coste, and
<br /> other le�al expeases. This Security Instrument shall remain in effect until released. Trustor agrees to pay for any
<br /> recordatton costs of such release. —��_,,
<br /> � 1�. �rryIRpNR�1VTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environniental Law ���—
<br /> �1 r:.�
<br /> means, without llmitation, the Comprehensive Environmental Response.Compensation and Liability Act(CERCLA, 42
<br /> U.S.C. 9601 ei seq.), and all other federal, state and local laws, regulations, ordinances,court orders. attorney general
<br /> �. opinions or interprenve letters concerning the public health,safety,welfaze,environment or a hazardous substance:and(2)
<br /> ,,� Hazardous Substance means any toxic, radioactive or hazacdous material, waste, pollutant or contaminant which has __—
<br /> � chazacteristics whlch render the substance dangerous or pntentially dangerous to the publi� health, safety, welfare or
<br /> enviroument. The term includes, without limitatlon, any substances defined as "hazardous material." "toaic substances,"
<br /> �� "hazardous wasce"or"hazardaus substance"under any Environmental Law.
<br /> Trustor rcpi�cuts,warrants ar.d agrees that; �.,.�_�
<br /> :� A.Except as previously disclosed and acknowledged in wi�iting, to Beneficlary, no Hazardous Substo.��.. is.,: .::il be
<br /> located, stored or released on or in the PropeRy. This restnction does not apply to small quantities of Hazardous �,R_��
<br /> t Substances that are generally recognized to be ap ropnate for the normal use and maintenance of the Property. �__
<br /> � B.Except as prevtously disclosed and acknowledg�in writing to 9eneficiary,Trustor and every tenant have been, are, __ _ __
<br /> and shall remain in full compiiance with any applicable Environmentel Law. __ -_—
<br /> C.Trustor shall immediately notify BeneficiarY if a release or threatened release of a Hazardous Substance occurs on, '�
<br /> � under or a b ou t t h e P r o p e rt y o r t h e r e i s a v iolatlon of an y Enviranmental Law conceming the Property. In such an -
<br /> event,Trustor shall take all necessary remedial action in aceordance with any Environmental Law. !K _
<br /> D.Trustor shall immaiiately notify Beneficiary in writing as soon as Trusror has reason to believe there is any pending `'� ;,�`Y'
<br /> or threatened investigat�on, c laim, or pro c e e d i n g r e l a t i n g t o t h e r e l e a s e or threatened release of any Hazardous ° "., ;;•. •. .
<br /> Substance or the violation of any Envirorunental Law. S;; ~' .
<br /> 18. CONDEMNATION. Trustor wiil bive Beneficiary prompt notice of any pendin&ur threatened nction,by private or public -,�,:;:� .
<br /> entities to purchase or take any or all of the Property through condemnation, eminent domain. or any other means.Trustor • . . .
<br /> authorius Beneficia�y to intervene tn Trustor's name in any of the above described actions or claims. Trustor assigus to
<br /> I Beneficiary the proceeds of any award or claim for damages connected�vith a condemnation or other taking of all or any
<br /> i Instrumente'Th s�asslgtune t of p ocdeedsh s subject to�the tempis of any prior moi�tgagepoleed of wstV ecuri y x�reementioc
<br /> other lien document.
<br /> I 19. 1NSUR�lNCE.Trustor shall keep Property insured against loss by fire. flood,theft and other hazards and risks reasonably
<br /> j associated with the Property due to its type and location This insurance shall be maintained in the amounts and for the
<br /> periods that Beneficiary requ�res. The insurance curier providing the insurance shall be chosen by Trustor subject to
<br /> � Beneficiary's a�proval, which shall not be unreasonably withheld. If Trustor fails to maintain the covcrage described
<br /> � above, Benefi`�ary may�r aV Bnll nfi�icary's option, obtain coverage to protect Beneficiary's rights in the Property according
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<br /> � All insurancepo licies and renewals shall be ai:ceptable to Beneticiary,and shall include a standarci "mortgage clause" and, �
<br />. � where applicable, "loss payee clause," Trustor shall immediately notify Bcneticiary of cancellation or termmation of the
<br /> insurance. Beneftciary shall have the right to hold the policies and r�newsils. If Beneticiary rcyuires, Trustor shall
<br /> immediatcly give to Deneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give
<br /> . immediate notice to the insurance carricr and Beneficiary. Beneficiary may make proof of loss it noi madr immcdiately by
<br /> � Trustor.
<br /> , fpage 3 0141
<br /> (s�199a Benkois Systnm�,�nc.S�Cloud.MN 11 800 397 7J411 Fo�m RE 07 NE 12�23�98 ,
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