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<br /> Y4. DEFAiTLT.Trustor will be in default if any party abligated or.tL�e Secured Debt fails to make payment when due.Trus:or
<br /> wiif be in defrt�ult if a breach occurs under the terms of this Sr:cuc�ity Ir.strument or any other �iozument �xecuted for the
<br /> purpose of creatin{;, securing or guarantying the Secured Debt. .�1 good fdith belief by Beneficiary that Beneficiary at any
<br /> mae is insecure wn�h respect to�ny person or entity obliga.ted on!he Secvred L�ebt or ihai thc pmspect of any payment or '
<br /> tUc value of the Pro�xrty is impaired shall also constitute an event��f defau;t.
<br /> 1S. REMEDiES ON DE.FAU�.,T. In some instances, federal and state law will require Ber.eficiary to provide Trustor with
<br /> nctice of the r�,ght to:cure or other notices and may establish tira� schedules for foreclosure actions. Sub�ect to these
<br /> lirritations, if any, Be�aeficiary may accslerate the Securecl Deb�t and foreclose this Security Inscrument in a manner
<br /> pro�rided by law if'Trusror is in defaujt. .
<br /> At the option of Beneficiary, al] or any �art of the agreed fees a�id chazges, accrued inierest and principal shall become
<br /> immediately dne and payabie, after givmg notice if reqaired by law, upon the oc<currerce of a default or anytime
<br /> thereafter. In addition, Beneficiary shall be entided to all the remedies prov�ded b��'law, the terms of the Secvre� Debt,
<br /> this Security Instrument and 2ny related documents, includia►g withou:limitation,the power to sell the Property.
<br /> If there is a defauit, Trustee shall, in addition to any other pemutted remedy, at the uest of the B�°neficiary, advertise
<br /> and sell the Property as a whote or in sepatate parcels at public auction to the highest bi der for c:sh and convey absolutc �
<br /> tit�e free and clear of aIl right, title and �nterest of Trustor at such time and piace as Trustee designates. 'Trustee sh�ll give
<br /> notice of sale including the time, terms anc� placa of sale and a descrigtion of the property to be sold as required by the
<br /> applicable taN in effect at the time of the proposed sale.
<br /> IJpon sale of the property aird ro the eztent not prohibited by law, 'frustee shall make and deliver a deed to the FrQperty
<br /> sold which conveys absolute tit�e to the purchaser, and after first paying all fees, chazges and coses, shall pay to
<br /> Beneficiary aIl moneys advanced for repairs, taxes, insurance, liens, ask,essments and prior encumbrances and interest
<br /> thereon, and the princ�pa] and interest on the Secured Debt, paying the s¢tplus, if any, to Trustor. B�neficiary may
<br /> purchase the Property.The rec;itals in any dced of conveyance sh:ill be prirna facie evidence of the facts sei forth tlaerein.
<br /> All remedies are distinct, rumulative and not exctusive, and the Beneficiar�+ is entitled to all remedies provided at 1aw or
<br /> equity, whether or nat ezpressly set farth.The acceptance by Beneficiary ot any sum in payment or part►al psyment or.the
<br /> Secured Bebt after the balance is dt�e or is accelerated or after foreclosure proceedings are fcled shall not constitute a
<br /> waiver o�'Beneficiary's right to require co�lete cure of any ezisting default. By not exercising a.ay remedy�n Trustor's
<br /> default, Beneficiary dces not waive Beaeficiary's right to later consider the event a default if it continues or happens again.
<br /> 16. E7CPENSES; ADVANC�.S ON CO�ENr�NY'S; ATTORi�iEYo"' FEF.S; COLLIECTION COS1'S. Except when
<br /> prohibitcd by law, Trustor agrees to pay a1! of BeneficiarY's expense� if Trustor Ureaches any covenant in this Security
<br /> Instrument. Trustor will als� pay �n demand any amount mcu.�red by F3enef:ciary for insurin�, mspec:ting, preserving or
<br /> othenvise protcctinp che Pz�perty ar.d Beneficiary's security interest. These expenses will bear interest from the date of the
<br /> payment unul paid tn fuil at the highest interest rate in effect as providad in the terms of the Secured Debt. Trustor agrees
<br /> to pay all costs and expenses incurre� by Beneficiary in collecting, enforcing or protecting Beneficiary's rights and
<br /> remedies under this Security I�strument. This amount may mclude, but is not lim.ited 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 /> recordation costs�f such release.
<br /> 17. ENVYRO;VMENTAL LA�VS �IND HA.ZARIDOUS SLIBSTANCES. As used in this section, (1) Environmental L.aw
<br /> means, wiuhout limitation, the Comprehensive Environnxntal Response, Compensatian �nd Liability,Act (CERCLA�, 42
<br /> U.S.C. 9601 et seq.), ar,d all other feclera3, state and local las�s, regulations, ordinances, court orde�s' attorney ge�leaal _
<br /> op:nions or znterpretive tetters concerning the pnbtic hralth,safety,�velfare,environment or a hazardous�substance; and(2)
<br /> Hazardaus Substance means any toxic, radiaactive or hazardous material, w$ste, pollutant or contarhinant whtch h;u
<br /> characteristics which render the snbstance dangerotu or putential3y dangerous to the puUlic heaith, safety, welfare c�r
<br /> envircnment. 'I7ie tetm inc3�d�, withnut limitation, any su�stan�:es defined as "i�azar+dous r�aterial," "fozic substances,"
<br /> "hazardo�is waste"or"hazardous substance"under any Envircnn°�ntal[.aw,
<br /> Trustor represents,v:arrants and agrees that;
<br /> A.Ezcept as pre�•iously disclosed and acknowledged in writir�g to Beneficiary, no Hazardous Svbstance is or will be
<br /> located, stored ar released on or in the Pzoperty. 'I1�is :esiriction does not apply to small quantities of Hazardous
<br /> Substan�es that an generally recogniud to be appropriate for the nurrnal use and maintenance of t��e Property.
<br /> B. Fzcept as previnusly disclosecl and aclmowledged in writing to Beneficiary, Trustor and every tenant have been, aze,
<br /> and shalY remain in full complaance with any a�plicable Environmental Law.
<br /> C.Trusto�shall immediately notify Beneficiary �f� release or thre�tened release of a Hazardous Substance occurs on,
<br /> under ar about the Property or thcre is a violation of any Environmental Law conceming the Proptirty. In such an
<br /> evznt, Trustor shali take all r.ecessary renudial acdon in accordance with any�nvironmental Law.
<br /> D.Trustor shall immediately notify Beneficiary in writing as sooa as Trustor has reason to believe there is any pending
<br /> or threatened investigation, claim, or proceeding relating to tbe mlease or threaaened release of any Hazardous
<br /> Substanc::or the vialation of any Environmencai La�y.
<br /> 18• CONDE.'�IATIO�i.Trustor will give Benefici rom t notice of;ui
<br /> arY P P y pendin&or threatened action,by private or public
<br /> entities to purchase,�r�ake any or all of the Property through coudemnadan,emment�omain, or any other means. Trustor
<br /> autharizes Beneficiary to flntervene in Trustor's name in any of the above described act:ons or claims. Trustor assigns to
<br /> Beneficiary t�`�e proceeds of any award or ctaim for damages canaected with a condcmnation or other taking of�l! or any
<br /> part of the Progerty. Such proceeds shall bs cons�dered payments and will be applied as provided in thi� Security
<br /> Instrument. 'Iliis assignrrzent of proceeds is subject to tbe teans of any prior mortg,age, deed af trust, security agreement nr
<br /> other iien document.
<br /> '� 19. INSLJRANCE. Trustor shall keep PraFerty insured agaiast l�ss by fire, flood,theft and other hazards and risks reasonably
<br /> ' associated with the Property due to its type and location. 'I1�is insurance shall be maintained in the amounts and for the
<br /> periods that Benefciary requires. 'Ihe insurance carrier providing the insurance shall be chosen by Trustar suUject to
<br /> +; Beneficiary's a�proval, which shall not be ur,rrasonably withheld. If Tnutor faiis to maintain the coveragc d�scribed
<br /> � above, Beneficiary may, at Beneficiary's option, obtain coverage to pmtect Beneficiary's rights in the Property according
<br /> to the ternu of this Security Insirumebt.
<br /> All insurance•�olicies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and,
<br /> where applicable, "loss gayee clause." Trustor s6al1 i�mecliately notify Beneficiary of cancellation or ternunation of the
<br /> insurance, Beneficiary shall have the rinht to hold the policies and zenewals. If Beneficiay requires, Tcustor shall
<br /> immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give
<br /> icrunediate nc�tice to the insurance carrier and geneficiary. $eneficiary mayku�alce proof of loss if not made immediately by
<br /> Trustor.
<br /> 01994 Bankmi Systsma,Inc.,St.Cbud,MN It-80p-397-2341� Form RE-DT-NE f OR7/97 �P�'9e 3 0/41
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