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14. E ULT. Trustor will be in default if any party obligated on the Secured Debt fails to a when ue:` Trus
<br />it b in default if a breach occurs under the terms of this Security Instrument or any other document executed for
<br />purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at a
<br />im is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment
<br />e va ue of the Property is impaired shall also constitute an event of default.
<br />�15. RMEDIES ON DEFAULT. In some instances, federal and state law will require Beneficiary to provide Trustor w
<br />of cc of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to the
<br />i to ions, if any, Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provic
<br />!bv av r if Trustor is in default.
<br />option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall become
<br />lately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter.
<br />ition, Beneficiary shall be entitled to all the remedies provided by law, the terms of the Secured Debt, this Security
<br />nent and any related documents, including without limitation, the power to sell the Property.
<br />e is a default, Trustee shall, in addition to any other permitted remedy, at the request of the Beneficiary, advertise
<br />11 the Property as a whole or in separate parcels at public auction to the highest bidder for cash and convey absolute
<br />ee and clear of all right, title and interest of Trustor at such time and place as Trustee designates. Trustee shall give
<br />of sale including the time, terms and place of sale and a description of the property to be sold as required by the
<br />Ible 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 Property
<br />pold which conveys absolute title to the purchaser, and after first paying all fees, charges and costs, shall pay to Beneficiar3
<br />01 neys advanced for repairs, taxes, insurance, liens, assessments and prior encumbrances and interest thereon, and the
<br />Tri ci al and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may purchase the Property.
<br />h recitals in any deed of conveyance shall be prima facie evidence of the facts set forth therein.
<br />1 remedies are distinct, cumulative and not exclusive, and the Beneficiary is entitled to all remedies provided at law of
<br />equity, whether or not expressly set forth. The acceptance by Beneficiary of any sum in payment or partial payment on the
<br />Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver
<br />f Ben eficiary' s right to require complete cure of any existing default. By not exercising any remedy on Trustor' s default,
<br />e ciary does not waive Beneficiary's right to later consider the event a default if it continues or happens again.
<br />16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except wher
<br />pro i4ited by law, Trustor agrees to pay all of Beneficiay s expenses if Trustor breaches any covenant in this Security
<br />Insi ru nent. Trustor will also pay on demand any amount incurred by Beneficiary for insuring, inspecting, preserving o1
<br />th 'se protecting the Property and Beneficiary's security interest. These expenses will bear interest from the date of the
<br />a t until paid in full at the highest interest rate in effect as provided in the teams of the Secured Debt. Trustor agrees
<br />to a'r all costs and expenses incurred by Beneficiary in collecting, enforcing or protecting Beneficiary's rights anc
<br />remecies under this Security Instrument. This amount may include, but is not limited to, attorneys' fees, court costs, anc
<br />th r Jlegal expenses. This Security Instrument shall remain in effect until released. Trustor agrees to pay for an)
<br />ec rctation costs of such release.
<br />.7. ENV NMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental La:
<br />me , without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 4
<br />U.S.C. 9601 et seq. ), and all other federal, state and local laws, regulations, ordinances, court orders, attorney generl
<br />pi> ii ns or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (:
<br />Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which h-,
<br />h a teristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare c
<br />envirclimient. 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 been,
<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 on,
<br />under or about the Proper or there is a violation of any Environmental Law concerning the Property. In such an
<br />event, Trustor shall take al 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 />8. CC N EMNATTON. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or put
<br />t ti s to purchase or take any or all of the Property through condemnation, eminent domain, or any other means. Trus
<br />aut ioll izes Beneficiary to intervene in Trustor' s name in any of the above described actions or claims. Trustor assigns
<br />Benef ciary the proceeds of any award or claim for damages connected with a condemnation or other taking of all or e
<br />par: of the Property. Such proceeds shall be considered payments and will be applied as provided in this Secur
<br />Ins ru nent. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement
<br />th ien document.
<br />9. INSURANCE. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasona
<br />s ci ted with the Property due to its type and location. This insurance shall be maintained in the amounts and for
<br />er o that Beneficiary requires. The insurance carrier providing the insurance shall be chosen by Trustor subject
<br />Benef ciary' s approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described abo
<br />e ciary may, at Beneficiary's option, obtain coverage to protect Beneficiay s rights in the Property according to
<br />terms of this Security Instrument.
<br />;All i urance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" al
<br />h e applicable, "loss payee clause." Trustor shall immediately notify Beneficiary of cancellation or termination of
<br />ns ce. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Trustor sl
<br />lately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give immedi
<br />of ce to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by Trustor.
<br />Bankers Systems, Inc., St. Cloud, MN (1 -800- 397 -2341) Form RE -DT -NE 1027/97 �L�
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