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<br /> � �p} FinAnclal Reports and AdditionAl Documents. Trustor will provictc to Bencficiary upon rcqucst,any financial stntcmeni
<br /> � or informatian Benefic�ary mny deem rensonably necessary. 1'nistor agrces to sign, dclivcr, and filc �uiy additional _
<br />- ! documents or certi�catians that Ficneficiary may r.onsidcr necessary ta perfect,continuc,and preserve Trustor's obligations
<br /> a, under this Securiry Instrument and Be�uficiary's Uen status on the Propeny.
<br />' � 6, WARRANTY OF TITL�. Trustor warrants that Trustor is or wlU be lawfuily scized of the estaie conveycd by tt�i� �
<br /> Security Instrument and has the right to inevocably grant, convey, nnd sell the Propeny to Trustee,in trust, w�th power at
<br /> ° � sale.Trustor also warrants that the Property is unencumbered,except for encumbra�ices of record. �
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<br />_. �. 7. DUE ON 5ALE. Lender may, at its option, declarc the entire balance of thc Sccured Dcbt to be immediately due and
<br /> payable upon the creation of,or contrac[for the creatiun oft a tranefer or sale of the Froperty. This right is sub�ect to the
<br />`:�, restr�ctions�mposed by fedoral 11w(12 C.F.R. 591), as appl�cable.
<br /> � � 8, DEFA,ULT.Trustor will b� in default if any of the following occur:
<br /> Fraud.Any Consumer Borrower engages in fraud or material misrepresentation in connection with the Secured Debt tt�ai _
<br /> .. � is an open end home equity plan.
<br /> . � � Payments. Any Consurner Borrower on any Sccured Debt that is an open end home equity plan fails to make a paymem
<br />, • when due.
<br /> ,�,;. ._ •. PropeMy. Any action or inaction by the Borrower or Grantor occurs that adverscly affects,the Propeny ur Lender's rigliu
<br /> in the Property This includes,but�s not limited to, the following:(a)Grantor fatls to ma�ntain required insurance on the
<br /> Propeny; (b)Grantor transfers the Property;(c)Grantor commits waste or otherwisc destntctively uses or fails to maintain
<br /> the Yroperty such that the action oe inactYOn adversely affccts Lender's sxurity� (d) Grantor fails to pay taxes on the __
<br />� Propeny or otherwise fails to act and thcreY,y causes a lien to be filed against the�roperty that is senior to the l�en of this
<br /> Securiry Instrument; (e)a sole Grantor dies; (� if more than one C}rantor, any Grantor dies.and I,ender's security i�
<br />` ,, adversely affected; (g) the Property is taken through eminent domain; (h) a judgment is filed against.(irantor and sub�ecu
<br />� ; Grantor and the Property to action thut adversely affccts Lender's interest; or (i) a prior lienholder forecloses on tho
<br /> � '"' Property and as a result,Lender s interest is adversely atfected.
<br />�r�.,��:::, •" Executive 0[[Icers.Any Honawer is an executive officer of Lender or an affiliate and such Borrower becomes indebted�o
<br />�.:• •• -; Lender or another lender in an aggregate amount greater than the amount perniitted under tederal laws and regulations,
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<br />-'_ :,_� 9. REMEDIES ON DEFAULT. In addition to any other remedy available under the terms af this S�curity Instrument,
<br />=�`�� • � Bentficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner providai by law if Trustor
<br /> 1�••u,Y��vH}� is in default. In some instances, federal and state law will require Beneficiary to provide Trustor witl�notice of the right to
<br /> j-L_';�rn.-±;, cure,or other notices and may establish time schedules for foreclosure actions. Each Trustor reyuests a capy of any notiu
<br /> 3,,�;.� . • of defauli wnd xy n^tir.�of sale�hereunder be mailed ta each Trustor at the address provided in 5ection 1 above.
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<br />��,ti�;,y;��,� At the option of the Beneficiary. all or any part of the agreed fees and charges, accrued interest and principal shall become
<br />���y.�����` immediately due and payable, after givtng notice if required by law, upon the occunence of a default or anytime
<br /> i�.��.rc�., thereafter.
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<br />__,°�_,�'.,�., If therc is a cicfault, Tcustee shall, at the request of tlie &neficiary, advertise and sell the Property as a whole or in
<br />=„m��,,, separate pazcels at public auction to the highest bidder for cash and convcy absolute title free and clear of all right,title
<br /> y�n°'�;. • and interest of Trustor at such time and place as Tcustee designates. Trustee shaU give notice of sale including the tiux,
<br />�� terms and place of sale and a description of the property to be sold as required by the applicable law in effect at the time af _
<br /> �__;,z _ � theproposed sale.
<br />-„�,�,�� Upon sale of the property and to the extent not prohibited by law Trustee shall make and deliver a deed ro the Pmperty
<br />--_—��;;„� sold which conveys absolute title co the purchaser, and after �'irst paying all fees, charges and costs, shall pay to
<br /> B e n e f i c i a c y a l l m o ne ys advanced for re pairs, taxos, insurance, licns, assessments and prior encumbrances and interat
<br /> `�—�9.� ther�on, and thc princfpal and interest on the Secured De bt, paying t he surp lus,,i f any, to Trus l or. B e n e f i c i a ry,r�y
<br /> r_���a��-�� purchase the Propeny. 'Ihe recitals in any deed of conveyana shall be prima facie evidena of the facu set forth theran.
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<br />_.,�=�T,��:r� The acceptance by Aenefieiary of any sum in pa ment or partial payment on the Secured Debt after t�e balance is due or is
<br /> -�;�,r•a..r, accelorated or after foreciosure proceedings are�led shall not constuute a waiver of Aeneficiary's right to require complde
<br />-- � . � cure of any eaisting default.By not exercisin any remedy on Trustor's default,Beneficiary does nat waive Bene�ciary's
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<br /> right to later consider the event a default if it appens again.
<br />= �•' ''"' ' 10. EXPEI�iSES; ADVANCES ON COVENANT5; ATTOItNEYS' FEES; COLLECTION COSTS.If Trustor breachcs
<br /> �.�cR;,`;�,;,i'� any covenant in this Seeuriry Instrument, Trustor agrees to pay all ezpenses Beneficiary incnrs in performing such
<br /> .��„��:-;�= wvenants or protecting its securiry interest in the Property.Such eapenses include,but are not IimiteA to,fe�s incuned for
<br /> `;'',�"' inspecting,pnserving.or otherwise protecting the Property and&neficiary's security inter�st.'I'hese expenses are payabie
<br />;'������• on demand and will bear intarest from the date o;payment until paid in full at the highest rate of intenst in effxt ac
<br />'°'.'�'".""'" pr�vided in the terms of the Secured Debt. Trustor agras to pay ali costs and expenses inensred b Beneficiary in
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<br />' collecting, enforcing or protecting Beneficiary's rights and remedies under this Security Instrument. is amount in�y
<br />- ' include, but is not limited to,Trus[ee's fees, court costs, and other le$al expenses. To the extent permitted by the Unit�d
<br /> Stntes Bankruptcy Code,Trustor agrees to pay the rcasonable attomeys fees Beneficiary incurs to collect the 5ecured Debt
<br /> as awarded by u►y coun exercising jnrisdiction under the Bankruptey Code.This Secunty Instrum�nt shall remain in effat
<br /> until released.Trustor agrees to pay for any recordation costs of sucl�release,
<br /> . '�.
<br />,, f 11. ENVIRONMENTAL LAWS AND HAZARDOUS SLTI3STANCES. As used in this section, <1)Environmental T,�w
<br /> ' means, widiout limitation, dre Comprehensivc Environmental Rcsponse, Compcnsation and Liabilit9 Act (CERCLA, 42 __
<br /> � F � U.S.C. 9601 et seq,). and all other federal, state and local laws, regulanons, ordinances, coun orders, attorney general -
<br /> ; o�pinions or interpretrvc letters concerning the public hcalth,safety,wclfare,environment or a hazardous substance� and(2)
<br /> Hazardous Substance means any toxic, radioacnve or hazardous matenal, waste, pollutant or contaminant w{�ich has
<br />- � cliarncteristics which render the substance dangerous or potentially dangerous to ttie public health, safety, welfare or
<br /> cnvironment. The term includes, without limitation, a�iy substances dcfined as "hazardous matcrial,' "toxic substances,"
<br /> � 'ha•rardous wastc" or "hazardous substance"under any Er.vironmcntal Law. _
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<br /> ' ��CllSIOC CCpTCSCIlIS�W.'iIi811[5 aIld T$iCCS 13I: ������������ *n Rnnnfiriarv nn Fla�arrintic Subcmnce is or will be
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<br /> A.�7cCept as prcv�vu��y w���ww m.0 a...............b.... ...:.......a. " —°'-°---�, --- ------- —
<br /> located, stored or relcased on or in tlie Property. 'I'hts restnction docs not apply to small quantities of Hazardous
<br /> ' Substances that are generally recognized to bc appropriate for the normal use and maintena��ce of the Property. _
<br /> � B.Except as previously disclosed and acknowledged in writin�to Beneficiary,Trustor and every tenant have been, are,
<br /> = :md s}iall rernain m full eompli:uice with any appI�cable Env�ronmental Law.
<br />- C.7'rustor shall immcdiately not�fy Beneficiary �f a rcicase or thrcatencd relcasc of a Hazardous 3ubst�tnce occurs a�.
<br /> under or about the Properry or there is a viola[ion of any Environmental Law concerning thc Propcny. in such an
<br /> � event, Trustor shall take all necessary remedial action in accordanee�vith any Environment�l Law.
<br /> Ipege 3 oI4!
<br /> � 1 C 1994 Oente�e Sve�ems,Ine.,Si Cioud,MN Fo�m OCP�FiEOLNE 101N30
<br /> WiNGI-fnn 7N8
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