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<br /> c� : 14. DEFAULT 'i'rvstor will be in cidault if any party obligatefl oa the imace.P�whcn due.Trustor
<br /> wil;be in default if a bre�ch oa.vrs tmdtr the tams of this Securi � ` '"-+ t ezecuted for the
<br /> purpose of creaxin$. securing or guarantyin8 tb=Secured D�bt. a g a�th belief by firiary that Beneficiazy at any .
<br /> time LS insecure wrth nxpect to any persan ar eatiry obligatal on the Secured T�etst or that tY�e prospecc of any payment or
<br /> the value of the Proper�y�s vnpaired shall also consUtatc an e�'ent of default. •
<br /> 15, RE1I�DIES ON DE�AU3,T. I� some instances, federal and st�te law will require B�neficiary to provide Trustor with
<br /> noti:x of Li� righz to cure �r othez n�tices z�d may establi�� time sctiedules for foreclasure actions. Suh�ect to these
<br /> I Iimitatioas, if any, B�neficiary may accelerate the Secured Debt and foreclose this Secirity lnstrument m a manner
<br />' pravided by law if Trustor is in default. . �
<br /> At the opcion of P,eneficiary all or any �art of the agreed fees and charg�, accrued interest and principal shall becomc
<br /> F immeci:ately due and payab'l�, after givmg notice if required by law, upon the occurrence Qf a default or anyt�me
<br />� thereafter. in addition, Beneficiary shall be cntidedrto ali the reznedies pr�vtded by law, the terms of the Secured bebt,
<br /> L`�is Security Instrument and any related docnmenu.including without litnitation,the power to sell the Property.
<br /> lf there is a default. Tnutee shail, in additnon ta any other pernaitted remedy, at the request of the Benefcciary, advertise -
<br /> and seil the Property as a wbole or in se�arate pareels at public guction to the highest bidder for cash and convey a'hsolute
<br /> tide free and clear of all right, ticle and mterest of Trustor at such time and place as Trustee designates. Trustee shall�ive
<br /> notice of sale including he rime, tezms and piaa of sale and a descripdon of the property to be sold as required by the
<br /> applicable law in effect at the time of the prapased sale.
<br /> Upon sale of ti,P�;mperty and to the extent not prohibited by law, Trustee shall make and deliver a�leed to the Progerty
<br /> sold which conveys ah.solute tide to the purcha�ser, and after first paying all fees, eharges and costs, shall pay ro
<br /> Beneficiasy ali moneys advanced for repairs, tazes, insurance, liens. assessments and prior e�cumbrances and interest
<br /> thereon, and tae principal and interest on ihe S�c.�uresi Debt, paying the sucplus, if any, eo Trustor. Benefi�iary may
<br /> gurchase the Property."�he recitals in any deed of conveyance shall be priana fa�ie evidence of the facts set forth therein.
<br /> All remedies are distinct, cumulative and not ezclusive, and the Beneficiary is entitled to all resnedies �rovided at law or
<br /> equity, whether or not expressly set forth.'Ihe accrptance by Beneficiary of any sum in payment or partial paymcnt on th�
<br /> Secured Debt after thc balznce is due or is accelerated or after foreclosure proceedings a.-e filed shall not constitute a
<br /> waivcr of Beneficiary's right to require complete cure of any ezisting default. By not exercising any remedy on Tn�stor's
<br /> default,Beneficiary does not w•aivo Beneficiary's right to later consider the event a default if it continues or happens,again.
<br /> 16. EXPENSES; ADVANC�FS ON COVENANTS; ATTORNEYS' FEES; COLLECTION COS1'S. Except when
<br /> prohibited by law, Trustar agrees to pay all of}3eneficiarY's expenses if Trustor breaches any covenant ;n this Security
<br /> lnstnunent. Trustor will also pay on demand any smount incurred by 13ene.5ciary for insurin�, inspecting, preservin� or
<br /> othenvise protectin�the Property and Beneficiary's�ecurity interest.'Ries�e�penses will bear mterest from the�ate o the
<br /> payment until paid in�ull at the highest i,lterest rate in effect as provided in the tetms of the Secumd I�ebt. Trusr.or agrees
<br /> to pay ali costs and ezpenses incurred by Beaeficiary in collecting, enfo��cing or protecr.ng : �neficiary's rights and
<br /> remedies under thit Secunty Instrurnent. This amoune muy include, but is not limitec:to, attorneys' fees; couR costs, and
<br /> other legal expenses. 'Ihis Security Instrument sha',: remain in effect until relea5ed. Truscor �grees to pay for any
<br /> recardation costs of suc�release.
<br /> 17. ENY'ucOi`�'!�fENi'AL LA�VS AND HAZARDOUS SUBSTANCFS. As used in this section, (I) �nvironmen:al Traw
<br /> means, without limitation, the Comprehc:nsive Environmental Response, Co�npensation and L'sability Act (CERCLA, 42
<br /> U.S.C. 9601 ee seq.), and all ather federal, state and local laws, regulaiions, orduiances, court orders, attorney gerAeral
<br /> opinioas or interpretive letters concersing the public h�ith,safety,weifare.eavironment or a haaardous substance; and(2)
<br /> Har.ardoas S�hstas�ce means any toxic; radioaetive or �azardous roaterial, waste, po�lutant ar contaminant which has -
<br /> characteristics whic.� render the substwce dangemus nr potentially dangerous to the�public health, safefy, welfare or
<br /> environmznt. 'Ihe tcrm inetu�fes, without limitaaon, any substances defined as "hazardous material," "tozic.s_ubstances,"
<br /> "h2zardous wastt"or"hazardous substance"under uiy Environmental Iaw.
<br /> Trustor represents,warrants and agr�rs that:
<br /> A,Except as previously discCose� arid acknow(edged in v�riting to Beneficiary, no fiazardous Substance is or wil.t be
<br /> located, stored o: r�leased on, or in th� ProFerty. 11vs restrcctian dces not apply to �mal! quantities of Hazardaus
<br /> Substanr,es that are grnerall}�rxognized to be appmpriatp fo:the nonnal use and maintenance of the Property.
<br /> B. Ezce�t as previousiy disclased and acknowledged in writing to Bcneficiary,Trustor and every tenant have�een, are,
<br /> and sh�ll remai�in�li compliance with any a�plicable Environmentr.l Law.
<br /> C.Trustor shall immediately nozi:y �eneficiary �f a release or threatened rel�ase of a Hazardous Substance occurs on,
<br /> under or about ihe Pmperty or there is a vio?ation of any Envir6nccse�tal Law cunceming th� Property. In such an
<br /> evenc,Trustor shall cake alt necessary re:ciedial act:on in accordatace with any Environmental Law.
<br /> D.Trustor shall immediately aotify Ber.efc'sary in writin�e as soon as Tnstor has reasan to bclieve there is any pending
<br /> or thmatene3 investigation, claun, or pmceeding rz.ating to the mfease or threateneci release of any Haz,ardous
<br /> Substance or the violation of any Envimnnleatal Law.
<br /> 18. C�NDE�tNAT'�Q1�1.Tnistor�ili give Beneficiary prompt notice of any petsdi�p ar threatered action, by private or pvblic
<br /> entities to purchase or take a�Yy or all of the Property through ct,�deamation,eminent domain, or any other means. Tnsstor
<br /> authorv.es Benefrciary to intervene in Trustar's nune in any of u,e above described actions or claims. Trustor assigns to
<br /> Beneficiary the proceeds of�nv awa*ri or claim for daroagrs canneete�3 with a condemnaticn ar other takiag of all or any�
<br /> part of the Pruperty. Suc.': proceeds shall bt s:onsidered payt�nts and will be applied as provided irt this Security
<br /> Instrument. 7his assignmenf of proc�ed.s is sui�jrct to t�term�of�y prior mortgage, deed vf trust, security agreemettt Qr
<br /> other tien do�-ument.
<br /> 1R. II�'SLT�ANCE.Tnstor St:all kecp Propeny insaeed a�ainst loss by fire, tlood, th�ft and other hazards and risks reasonably
<br /> associ�ted with the P!roperty due to its type a�d lacatien. 'This insurauce shall be maintained in the amounts �nd for the
<br /> ric�ds ehat B�nefciarv requires. The iasurance c;arrier pmviding the insurance shall be chosen by Trustor subject to
<br /> pe re
<br /> 43en�ficiaxy's appinval, which shafl not be unrea,onably withheld. If Trustnr fails to maintain the coverage described
<br /> above, Brneficiary may, at Beaeficiary's option, abtain r.�verage to pEOtect Beneficiary's rights in the Property according
<br /> to the terms of this Sec,�urity Insuument.
<br /> All insurance�licies an�'renewals shal! be acce cable to Beneficiary and shall iaclude a standare� "mortgage c.anse" and,
<br /> wher� applicable, "loss payee clause." Trustor s�aii imrr.e3iaiel� notify Beneficiary of cancellation or terminatior. of che
<br /> insurance. Benefcciar}� shall have �he right to hoid the policies and reaewals. If Beneficiary requires, Trustor shal!
<br /> immediateiy gi�� ta BenQGcizry all rece�pts of paid premiums and renewal notices. Upon loss, Trustor sha�l give
<br /> immediate notice to the insurance camer a�d Seneficiary. Beneficiary may malce proof of loss if not rr�de imtnediat:ly by
<br /> Tr�tor.
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<br /> C t 994 Bxitkas Sys!ex'u.Ine..St.Cloud.MN 11-8049 9 7 43411 Fome RE-OT-NE S 0f2�/97
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