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<br />14. E ULT. Trustor will be in default if any party obligated on the Secured Debt fails to make payment when due. Trusto
<br />vil b in default if a breach occurs under the terms of this Security Instrument or any other document executed for
<br />bumose of creating, securing or guarantying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at any
<br />im
<br />is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment oi�
<br />the IIv ue of the Property is impaired shall also constitute an event of default.
<br />15. REMEDIES ON DEFAULT. In some instances, federal and state law will require Beneficiary to provide Trustor wit
<br />lj
<br />not'ce of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to thes
<br />limita ions, if any, Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provide
<br />by �a if Trustor is in default. I
<br />At �h option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall become
<br />i e iately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter.
<br />In addition, Beneficiary shall be entitled to all the remedies provided by law, the terms of the Secured Debt, this Security
<br />Instrument and any related documents, including without limitation, the power to sell the Property.
<br />If there is a default, Trustee shall, in addition to any other permitted remedy, at the request of the Beneficiary, advertise
<br />and sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash and convey absolute
<br />titl free and clear of all right, title and interest of Trustor at such time and place as Trustee designates. Trustee shall give
<br />riot ce'i of sale including the time, terms and place of sale and a description of the property to be sold as required by the]
<br />lap lic ble law in effect at the time of the proposed sale.
<br />Upon sale of the property and to the extent not prohibited by law, Trustee shall make and deliver a deed to the PropertyI
<br />sol 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 th
<br />Tri ci al and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may purchase the Property.)
<br />he recitals in any deed of conveyance shall be prima facie evidence of the facts set forth therein.
<br />11 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 red Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver)
<br />of Beneficiary's right to require complete cure of any existing default. By not exercising any remedy on Trustor' s default,)
<br />Beneficiary does not waive Beneficiary's right to later consider the event a default if it continues or happens again.
<br />16.E FNSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when
<br />prohibited by law, Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches any covenant in this Security]
<br />Ins ru}nent. 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 />payment until paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt. Trustor agrees)
<br />to )av all costs and expenses incurred by Beneficiary in collecting, enforcing or protecting Beneficiary's rights and
<br />re edies 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 an
<br />rec r tion costs of such release.
<br />17. ICE ON MENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law:
<br />me , without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42
<br />. 9601 et seq. ), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general
<br />opi i ns or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2
<br />H ous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has
<br />cha7acteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br />en irdmnent. 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 />�Tru stc r represents, warrants and agrees that:
<br />A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is or will bed
<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 been,;
<br />are, and shall remain in full compliance with any applicable Environmental Law.
<br />C. Trustor shall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance occurs on,
<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 />D. 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. C "EMNATION. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or publi
<br />ent ties to purchase or take any or all of the Property through condemnation, eminent domain, or any other means. Trustor
<br />aut orizes Beneficiary to intervene in Trustor' s name in any of the above described actions or claims. Trustor assigns to
<br />Berre ciary the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any
<br />part f the Property. Such proceeds shall be considered payments and will be applied as provided in this Security!
<br />ns 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. NSURANCE. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably
<br />ass ci ted with the Property due to its type and location. This insurance shall be maintained in the amounts and for th
<br />per o s that Beneficiary requires. The insurance carrier providing the insurance shall be chosen by Trustor subject to
<br />Beneficiary's approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above,
<br />e ciary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according to th
<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 />dins *ai�ce. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Trustor shall
<br />immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give immediate
<br />,not, cej to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by Trustor.
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<br />(page 3 of 4)
<br />(D
<br />1994 Bankers Systems, Inc., St. Cloud, MN (1 -800- 397 -2341) Form RE -DT -NE 10/27/97
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<br />-C1 6,5(NE) (98o8) -
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