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<br />Dw ULT. Trustor will be in default if any party obligated on the Secured Debt fails to make payment when due. Trusto
<br />wvil b in default if a breach occurs under the terms of this Security Instrument or any other document executed for the
<br />oe of creating, securing or guarantying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at any
<br />rm i insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment or
<br />he va ue of the Property is impaired shall also constitute an event of default.
<br />15. RE KDIES ON DEFAULT. In some instances, federal and state law will require Beneficiary to provide Trustor withI,
<br />not cc of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to mes
<br />li taf ions, if any, Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provide
<br />by avy if Trustor is in default.
<br />At nth option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall becom
<br />imrire iately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter.
<br />in 1dition, Beneficiary shall be entitled to all the remedies provided by law, the terms of the Secured Debt, this Security',
<br />IIrl ru}nent and any related documents, including without limitation, the power to sell the Property.
<br />If t e> a is a default, Trustee shall, in addition to any other permitted remedy, at the request of the Beneficiary, advertise
<br />an s 11 the Property as a whole or in separate parcels at public auction to the highest bidder for cash and convey absolute
<br />Ritl fee and clear of all right, title and interest of Trustor at such time and place as Trustee designates. Trustee shall give,
<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 />by n,sale of the property and to the extent not prohibited by law, Trustee shall make and deliver a deed to the Property',
<br />sold which conveys absolute title to the purchaser, and after first paying all fees, charges and costs, shall pay to Beneficiary
<br />all moneys advanced for repairs, taxes, insurance, liens, assessments and prior encumbrances and interest thereon, and the
<br />ppri ci al and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may purchase 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 Beneficiary is entitled to all remedies provided at law or
<br />equity, whether or not expressly set forth. The acceptance by Beneficiary of any sum in payment or partial payment on the
<br />Sec d Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver'
<br />of eficiary' s right to require complete cure of any existing default. By not exercising any remedy on Trustor' s default,..,
<br />�Be a ciary does not waive Beneficiay s right to later consider the event a default if it continues or happens again.
<br />116. Ex� NSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when
<br />l pro iited by law, Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches any covenant in this Security
<br />ns�rutnent. Trustor will also pay on demand any amount incurred by Beneficiary for insuring, inspecting, preserving or
<br />otherwise protecting the Property and Beneficiary's security interest. These expenses will bear interest from the date of the
<br />pa t until paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt. Trustor agrees
<br />o pa all costs and expenses incurred by Beneficiary in collecting, enforcing or protecting Beneficiary' s rights and
<br />rerr<ed�les under this Security Instrument. This amount may include, but is not limited to, attorneys' fees, court costs, and
<br />�other legal expenses. This Security Instrument shall remain in effect until released. Trustor agrees to pay for any
<br />ecprdation costs of such release.
<br />117. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
<br />cart, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42
<br />U. . 9601 et seq. ), and all other federal, state and local laws, regulations, ordinances, court orders, attorney genera
<br />i
<br />9pi ns or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2)
<br />hazarious Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has
<br />choa teristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br />environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substances,"
<br />"h dous waste" or "hazardous substance" under any Environmental Law.
<br />represents, warrants and agrees that:
<br />Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is or will be
<br />located, stored or released on or in the Property. This restriction does not apply to small quantities of Hazardous'
<br />Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property.
<br />Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every tenant have beer l
<br />are, and shall remain in full compliance with any applicable Environmental Law.
<br />Trustor shall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance occurs or l
<br />under or about the Property or there is a violation of any Environmental Law concerning the Property. In such an
<br />event, Trustor shall take all necessary remedial action in accordance with any Environmental Law.
<br />Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is any pending
<br />or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous',
<br />Substance or the violation of any Environmental Law.
<br />18. CC ENINATION. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or public
<br />ent ti to purchase or take any or all of the Property through condemnation, eminent domain, or any other means. Trustor
<br />aut o rzes Beneficiary to intervene in Trustor' s name in any of the above described actions or claims. Trustor assigns td
<br />�e ef�ciary the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any
<br />�ar Of the Property. Such proceeds shall be considered payments and will be applied as provided in this Securiy
<br />ins ent. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or
<br />other ien document.
<br />19. 'INSURANCE. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably
<br />ass cr ted with the Property due to its type and location. This insurance shall be maintained in the amounts and for the
<br />er ols that Beneficiary requires. The insurance carrier providing the insurance shall be chosen by Trustor subject to
<br />Bereficiary's approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above,
<br />Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiay s rights in the Property according to the
<br />terms of this Security Instrument.
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and,
<br />wh rel applicable, "loss payee clause." Trustor shall immediately notify Beneficiary of cancellation or termination of the
<br />ins ance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Trustor shall
<br />i e iately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give immediatq
<br />notic e to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by Trustor.
<br />WIZ (page 3 of 4)
<br />0 1 94 Bankers Systems, Inc., St. Cloud, MN (1 -800- 397 -2341) Form RE -0T-NE 10/27/97 K I E
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