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<br />14. D E A1ULT. Trustor will be in default if any party obligated on the Secured Debt fails to make payment when due. Trusto
<br />wit in default if a breach occurs under the terms of this Security Instrument or any other document executed for th
<br />o e of creating, securing or guarantying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at any
<br />im i insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment o
<br />e v ue of the Property is impaired shall also constitute an event of default.
<br />15. DIES ON DEFAULT. In some instances, federal and state law will require Beneficiary to provide Trustor with
<br />of ce of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to these
<br />li to ions, if any,. Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided
<br />by aw if Trustor is in default.
<br />At the option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall become
<br />immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter.
<br />In d ition, Beneficiary shall be entitled to all the remedies provided by law, the terms of the Secured Debt, this Security
<br />Ins ent and any related documents, including without limitation, the power to sell the Property.
<br />If I riere is a default, Trustee shall, in addition to any other permitted remedy, at the request of the Beneficiary, advertise
<br />anc sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash and convey absolute
<br />itl fee and clear of all right, title and interest of Trustor at such time and place as Trustee designates. Trustee shall give
<br />poticel of sale including the time, terms and place of sale and a description of the property to be sold as required by the
<br />applicEtble law in effect at the time of the proposed sale.
<br />pi in '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 />1 noneys advanced for repairs, taxes, insurance, liens, assessments and prior encumbrances and interest thereon, and the
<br />pru ci al and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may purchase the Property.
<br />r itals 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 />eq , whether or not expressly set forth. The acceptance by Beneficiary of any sum in payment or partial payment on the
<br />Sec ed Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver
<br />of ieficiary' 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. NSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except wher,
<br />pro i ited by law, Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches any covenant in this Security
<br />ns ent. Trustor will also pay on demand any amount incurred by Beneficiary for insuring, inspecting, preserving of
<br />th ise protecting the Property and Beneficiay 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 terms of the Secured Debt. Trustor agrees
<br />to a all costs and expenses incurred by Beneficiary in collecting, enforcing or protecting Beneficiary's rights and
<br />reme 'es under this Security Instrument. This amount may include, but is not limited to, attorneys' fees, court costs, anc
<br />other legal expenses. This Security Instrument shall remain in effect until released. Trustor agrees to pay for an)
<br />recorc ation costs of such release.
<br />17. �ENVIRONNIENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Lam
<br />e , 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 genera
<br />opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2;
<br />Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which ha,
<br />ch adteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare of
<br />r �ent. 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
<br />located, stored or released on or in the Property. This restriction does not apply to small quantities of Hazard(
<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 be
<br />are, and shall remain an full compliance with any applicable Environmental Law.
<br />Trustor shall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance occurs
<br />under or about the Property or there is a violation of any Environmental Law concerning the Property. In such
<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 pend
<br />or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazard)
<br />Substance or the violation of any Environmental Law.
<br />18. N1�EMNATION. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or put
<br />t tit to purchase or take any or all of the Property through condemnation, eminent domain, or any other means. Trus
<br />ut o zes Beneficiary to intervene in Trustor' s name in any of the above described actions or claims. Trustor assigns
<br />e ciary the proceeds of any award or claim for damages connected with a condemnation or other taking of all or a
<br />air f the Property. Such proceeds shall be considered payments and will be applied as provided in this Secur
<br />ns ent. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement
<br />oth ien document.
<br />19. iNSU RANCE. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonal
<br />associated with the Property due to its type and location. This insurance shall be maintained in the amounts and for
<br />er o s that Beneficiary requires. The insurance carrier providing the insurance shall be chosen by Trustor subject
<br />Bei lef ciay s approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described abo,
<br />Bei lef ciary may, at Beneficiay s option, obtain coverage to protect Beneficiay s rights in the Property according to
<br />to f this Security Instrument.
<br />1 insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" ai
<br />wherei applicable, "loss payee clause." Trustor shall immediately noti Beneficiary of cancellation or termination of
<br />'ns ietio ce. Beneficiary shall have the right to hold the policies an renewals. If Beneficiary requires, Trustor st
<br />i ately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall gave immedi
<br />of c the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by Trustor.
<br />(page 3 of
<br />1P941Bankers Systems, Inc., St. Cloud, MN (1- 800 - 397 -2341) Form RE -DT -NE 10/27/97
<br />i4�oa)
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