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<br /> 14. DEFAULT.Trustor will be in default if any party obligated on the Secure�i Debt fails`t`b make paymant when due. Trustor
<br /> will be in default �f a bree[Ch�'C�cs,�ftier.'the;terms of this Security Instnunent or any other document executed for the
<br /> purpose of crea' , sercurli►hg ot ing the�ecured Debt. A good faith belief by Beneficiaty,that Beneficiary at any
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<br /> time is insecure r�pe�ct,to an�i�'ot entity obligated on the Secured Debt or thaC the prospect of any payment or
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<br /> the value of the����is` ' .
<br /> �mpaifr8ct shait also conshtute an
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<br /> 15.�REIVIEDIES'UN:DEFA�I.T. In soa� instances; feder`al aa��state law�wiIl iequire;Beneficiary to provides`Tri�stor with '
<br /> ... natice of,the.right to.cure or othei notices and may establish time schedules for foreclosure actions. Sub,�ect to'these `
<br /> limitations, if any, Be�ficiary may accelerate the Se�ured Debt and foreclose this Security Instrumant in a manner
<br /> provided by 7aw'if Trustor is in default. _
<br /> At the optiott of Beneficiary, all or any part of the a� fees and charges, accrued interest and principal shall bacome
<br /> immediately due and payable, after giving notice i required by law, upon the occarrence of a default or an e
<br /> thereafter. In xddition, Beneficiary shall be entitled to all the remedies provided by law, the terms of the Secured ebt,
<br /> this Secwity Instrument and any related documents, including without limitation, the power to sell khe Property.
<br /> If there is a default, Trustee sltall, in addition to an other permitted remedy, at the uest of the Beneficiary, adverhse
<br /> and sell the Propert a � le or in au�tptt tq
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<br /> . � . ,� � ' _ t�k�ghest ' �or casb;,� , �onv absolate ,;,,� N .~
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<br /> �� notice of sa�e including the time, terms and place of sale and�a description of the property to be sold as required by the
<br /> applicable law in effect at the time of khe pmposed sale.
<br /> Upon sale of the property a�i to the extent notprolubited by law, Trustee shall make and deliver a deed to the Property
<br /> sold which comeys absolute titte'to the putr�haser, and after first PaYinB all fees, charges and costs, shall �ay to
<br /> Beneficiary all moneys advanced for t�epairs, taxes, insurance, liens, assessments and priar encumbrances and mterast .
<br /> thereon, and the princ�pa1 and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may
<br /> purchase the Property. The recitals in any deed of com+eyance shall be prima facie evidence of the facts set forth therein.
<br /> All remadies are distinct, cumulative and not exclusive, and the Beneficiary is'entitled to all remedies�rovided at law or
<br /> equity; whether or not expressly set forth.The acceptance,by Benefic�'ary of any sum in payment or parhal payment on the
<br /> Secured Debt after the balance is due or is accelerated�or a8er foreclosare proceedings are filed shall not constitute a
<br /> �waiver of Benefici,ary's,right to,require complete cure:oE any existing default.�By,not ezercising any remedy on Trustor's
<br /> default; Beneficiary 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: Bxcept when
<br /> prohibited by,law, Trustor agrees to pay all of Beneficiary's expenses if Tnistor breacfies any covenant in this Security
<br /> Instrument. Trustor wi1T also pay on demand any amount incuned by Beneficiary for insurin�, inspecting, preserving or
<br /> otherwise protecting the ProperEy and Beneficiary's security interest. These expenaes will bear interest from the date of the
<br /> payment until paid in full at the highest interest rate in effect as�provided in the terms of the Secured Debt. Trustor agrees
<br /> to pa all costs and expenses incurred by Beneficiary in collecting, enforcing or pmtecting Beneficiary's rights and
<br /> re�es under this Secunty Inst�nt. Tlus amount may include,but is not limited to,attorneys' fees, court costs, and
<br /> other le�a1 expenses. This Security InsMiment shall remain in eff�t until released. Trustor agrees to pay for any
<br /> recordahon costs of such release.
<br /> 1'1. ENVIRONh�iT�I."I�WS ��: ;��,bT��. .�,�ec�,,.�,�ia.�,.(�};EnviruAmanial Lsw
<br /> means,`without titnitation, the Compre ensive� nvironmental Response, C�ompensahon and Liability Act (CERCLA, 42
<br /> U.S.C. 9601 et seq.), and all other federal, state and local laws, regulations, ordinances, court orders, attomey general
<br /> opinions or inteipretive letters concerning the public health, safety,welfare, environment or a ha7ardous substance; and(2)
<br /> Hszardous Substance means any touc, radioactive or hazardous material, waste, pollutant or contaminant which has
<br /> characteristics which render the substance dangerous or potentially dangerous to the public health; safety, welfare ar
<br /> environment. The term includes, without limitation; any substances defined as "hazardous material," "toxic substances,"
<br /> "haTardous waste" or "hazardous substance"under any Environmental Law.
<br /> Trustor represents, warrants and agrees that: ' s � .
<br /> ;` A.Except as previously disclosed and acknowledged in writing to Beneficiary, �,Hazardot�s Substance is or will be
<br /> located, stored or relaesed�on or in the Property�, This-restrictioa does'�not ly to small quantities of Ha7ardous
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<br /> Substances thst:a�e:generally ta�b� rlata�foP t}ie normal use�mainte�iance of the Property.
<br /> � B:�Ex t-as provio�ty;disclo�ttT��u�knowled�writing to Beneficiary, Trustor and every tenant have been, are,
<br /> and�l remain in full compliance with any applicable Environmental Law.
<br /> C.Trustor shall' immediately notify Beneficiary if a release or`ttireatened release of a Hazardous Substance occurs on,
<br /> - under or about the Property"or there is a`violation of any Environmental Law concertung the Property. In such�an
<br /> event,Trustor shall take all necessary reaiedial action in accordance'with any Em+ironmental Law.
<br /> D.Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is any pending
<br /> or threatened im+estigation, claim, ar proceeding relating to the release or threatened release of any Hazardous
<br /> Substance or the violation of any Environmental Law. `
<br /> 18. CONDEMNATION.Trnstor will give Beneficiary grompt notice of aay pendin�or threatened action,by private or public
<br /> entities to purchase or take any or all of the Property through co��iemnat�on, emin�nt domain, or any other means. Trustor
<br /> authorizes Beneficiary to intervene in Trustor's name in any of the above described actions or claims. Trustor assigns to
<br /> Beneficiary the proce�ds of any award or claim for damages connected with a condemnation or other taking of all or any
<br /> of the Property. Such proceeds shall be considerecl payments and will be applied as provided in this Security
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<br /> -- _ --��at. This asstgnment o€�rrs�is-�ject:tcr the t�tms of anYP��r��rtB�e, c�d Q�� ��3''8�or
<br /> other lien document.
<br /> 19. INSURANCE.Trustor shall keep Property insureii against loss by fire, flood, kheft and other hazards and risks reasonably
<br /> a4sociated with the Property due to its type and location. This insurance shall be maintained in the amounts and for the
<br /> penods 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 tlus Security Instnunent.
<br /> All insurancepo licies and renewals shall be table to Beneficiary and shall include a standard "mortgage clause" and,
<br /> where applicable,;"loss payce clause." :Trustor s l immediately ncstify Beneficiary of cancellation or terminaHon�of tlie
<br /> insurance. Beneficiary. shall have the right.to hold the-policies�and renewals. If'Beneficiary'requires,`'Trusfor shall
<br /> imme�iately give to Beneficiary all�receipts of�pa�d. premi�tms' an�i �renewat notices.� Upon loss; Tnistor shall give
<br /> immediate notice to the insurance carrier and Beneficia�y��:Beneficiary'may�make proof of loss Yf not made immec�iately bq
<br /> Trustor. ., . . �� . . _ . . . : ..,
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<br /> .O tY94 Bankxs Sy�tem�,fna.;&,�loud.MN {t-l00-387-2941) Ro►m.HE-0T-NE`70/�7/97'
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