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<br /> 14. DEFAULT. Trustor will be in default if any party obligated on the Secured Debt fails to make payment when due. Trustor
<br /> will be in default if a breach occurs under the terrns of this Security Instrument or any other document executed for the
<br /> purpose of creatin�, secur'rng ar guarantying the Secured Debt: A goad faith belief by Beneficiary that Beneficiary at any
<br /> trme is insecure with respect to any person or entity.ts�tigated on the Secured Debt or that the prospect of any payment or
<br /> the value of the Property is impaired shall°also constitute an event ofidefault.
<br /> 15, REMEDIES ON DEFAULT. In some instanees, federal and state law'will reqnire Beneficiary to provide Trustor with
<br /> notice of the right to cure or other notiees and may establish time schedules for foreclosure actions. Sub�ect to these
<br /> limitations, if any, Beneficiary may accelerate the Secured Debt and foreclose this Security Instrurnent in a manner
<br /> provided by law if Trustor is in default.
<br /> At the option of Beneficiary, all or any part of the agreed fees and charges, acerued interest and principal shall become
<br /> immediately due and payable, after giving notice if required by law, upern the occurrence of a default or anytime
<br /> thereafter. In addition, Benefictary shall be entitled to all the remedies provided by law, the ternis of the Secured Debt,
<br /> this Security Instrument and any re�ated documen�s, in�ludin�with�ut lim�tation, tiae perwer to selt ih�PrQperty.
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<br /> - If±herQ is a def�ult, Trustee shall, �n ad�litiori tii�ariy'+�tlier perniitfect rein�y, �c t1�e rec}uest a�ihe Bene�'iciary, �civertis� '
<br /> atld sell the Property as a whole Or�T-��arate��:Is ac,��-a�ota�r�xath�highes;biddec_for cash and convey absol•ate
<br /> title free and clear of all right, title ancl interest of'frustor at such time`and place as Trustee designates."�'�'ustee sha11 give
<br /> notice of sale including the time, terrms and place of saie and a deseription af the prnperty tn be sold as'required by the
<br /> applicable law in effect at the time af the praposed sa1e.
<br /> Upon sale of the property and ta 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
<br /> Beneficiary all moneys advanced for repairs, ta�es, insurance, liens, assessments and prior encumbrances and interest
<br /> thereon, and the principal and interest on the S�ured Uebt, paying the surpius, if any, to Trustor. Beneficiary may
<br /> purchase the Property. The recitals in any.deed of canveyance shali be prima facie evidenee of the facts set forth therein.
<br /> � A1T remedies are distinct,'cumuPative and�not�exc�usive, �tid ttte�efici" �°is�itit�ed����a�all�em+ecliese�itoi+ided at law or
<br /> � equity, whother or not e�ressly set forth. 'i'lie aceaept�ice�by �iiefic�y�any suth°�ri pay��f qur,l�"tx�t'`P�ym�nt�tm the�
<br /> � � � � Sexured I�et�t after.�the�balanc� i��due ar is accelerated�or af�r fcxe�osti�t�e g�rnce�cliirgs at����i� s�ia�i.��t c�t�ut� � �
<br /> wai�ver of Beneficiary's r.ght ta reqttire comptete cure of any exis�ting de�aulf. By riot-exercisimg any remedy on Txustor's
<br /> default, Beneficiary does not waive Beneficiary's right to later consider 1he event a default if it'coritihues ar happens again.
<br /> 16. EXPENSES; ADVANCES ON COVENAN'rS; ATTORNEYS' FEES; CULLECI'ION COSTS. Except when
<br /> prohibited by law, Trustor agrees to pay all af Beneficiar�'s expenses if Trustor breaches any covenant in this Security
<br /> Instrument. Trustor will also pay on dernand any amount incurred by Beneficiary for insuring, mspecting, preserving or
<br /> otherwise protectin�the Property and Beneficiary's security interest. These expenses will bear mterest from the date of the
<br /> payment until paid in full at the higl�est interest rate in effect as pxovided in the terms of the Secured Debt. Trustor agrees
<br /> to pay all costs and expenses incurred by Beneficiary in cvilecting, enforcing or protecting Beneficiary's rights and
<br /> remedies under this Security Instrument. This amount may include,,but is not limited to, attorneys' fees, court costs, and
<br /> other le�a1 expenses. This Security Instrument shall r�main in effect until released. Trustor agrees to pay for any
<br /> � � recordation casCs�of sueh release.,� � �� � �p. �, �.
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<br /> t , ' . , ` AWS'°"�RS���°�C�'S�Ai�i�E�:TAs��as�ct�cn this�:�ection,����v�onmerital"'�,aw
<br /> means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42
<br /> U.S.C. 9601 et seq.), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general
<br /> opinions or interpretive letters concerning the pubiic 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 has
<br /> characteristics which render the substance dangerous or potentially dangerous to the public heatth, safety, welfare or
<br /> environrnent. The term includes, without limitation, auny substances defined as "hazardous material," "toaic substances,"
<br /> "hazardous waste" or "hazardous substance" under any Environmental Law.
<br /> Trustor represents, warrants and agrees thaf:
<br /> A.Except as previously disclosed and acknowledged in writing ta Beneficiary, no Hazardous Substanee is or will be
<br /> located, stored or released an or in the Property. This restnction does-not apply to;small quantities of Hazazdous
<br /> Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property.
<br /> B.ExceSt as previously disclosed and acknowledged m writing to Benefieiary, Trustor and every tenant have been; aze,
<br /> and shall remain in full compliance with any a�plicable 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 shalt take all necessary remedial action in accordance with any Environmental Law.
<br /> D.Trustor shall immediately notify Bene�ciary in writing as soon as Trustor has reasan to believe there is any pending
<br /> or threatened investigation, elaun, or proceeding relating to the release ar threatened release of any Hazardous
<br /> Substance or the violation of any Environmental Law.
<br /> 18. CONDEMNATION. Trustor will give Beneficiary prompt notice of any pendin�or threatened action, by private or public
<br /> entities to purchase or take any or all of the Property through candemnation, eminent domain, or any other means. Trustor
<br /> authorizes Beneficiary to intervene in Trustor's name in any of the above descr�bed actions ar clazrns. Trustor assigns to
<br /> Beneficiary the proceeds of any award or elaim for damages connected with a condemnation or other taking of ail or any.
<br /> part of the Propert�. Such roceeds sh ' Pnts �cL�vill ' �s pxQV�ded in this Security
<br /> T"n's�f�'t�fi:`�'TFi3�sig'" ti o gr s is Su }ec to e terrn"s o any pr�or mo ga�e;:deed..�£ir�st,:s�ty.:,gr�:ut.Qr,
<br /> other lien document.
<br /> 19. INSURANCE. Trustor shatl keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably
<br /> associated with the Property due to its type and location. This insurance sha11 be maintained in the amounts and for the
<br /> periods that Beneficiary requires. The insurance carrier providing the insurance shall be chosen by Trustor subject to
<br /> Beneficiary's a�proval, which shall not be unreasonably withheld. If Trustor. fails to maintain the coverage described
<br /> above, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according
<br /> to the terms of this Secunty Instrument.
<br /> All insurancepo licies and renewals sha11 be acceptable to Beneficiary and shall,include a standazd "mortgage clause" and,
<br /> where applicable, "loss payee clause." Trustor shall immediatel� notif,� Beneficiary of cancellation or termmation of the
<br /> insurance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Trustor shall
<br /> immediately give to Beneficiary a11 receipts of paid premiums and renewal notices. Upon loss, Trustor shall give
<br /> immediate notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by
<br /> Trustor.
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<br /> �7994 Benkers S�atema,Ine.,St.Cioud,MN (1�800-397-2344) Form RE•OT-NE 10127l97 /����
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