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, � �9. so8so1 .
<br /> 15. REMEDIES ON DEFAIJLT. In some instances, faderal and state law will require Beneficiary to provide Trustor with
<br /> notice of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to these
<br /> limitations, if any, Beneficiary may accelerate the Sacured Debt and foreclose this Security Instrument 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 fces 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
<br /> thereafter. In addirion, Beneficiary shall be entitled to all the remedies provided by law, the tern� of the Securad Debt,
<br /> this Security Instrument and�y related documents, including without limitation, the power to sell the Property.
<br /> If there is a default, Trustee shall, in addition to any other permitted remeriy, at the request of the Beneficiary, advertise
<br /> and sell the Praperty as a whole or in separate parcels at public auction to the lughest bidder far cash and convey absolute
<br /> title free and clear of all right, title and interest of Trustor at such time and place as Trustee designates. Trustee shall give
<br /> notice of sale 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 effe�t at the time of the proposed sale.
<br /> Upon 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
<br /> Beneficiary all moneys advanced for repairs, GvLes, insurance, liens, assessments and prior encumbrances and interest
<br /> thereon, and the principal 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 conveyance shall be prima facie evidence of the facts set forth therein.
<br /> All remedies are distinct, cuffiilative and not exclusive, and the Beneficiary is entitled to all remedies provided at law or
<br /> equity, whether or not expressly set forth. The acceptance by Beneficiary of any stun in payment or partial payment on the
<br /> Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are file�l shall not canstitute a
<br /> waiver of Beneficiary's right to require complete cure of any eusting default. By not exercising any remedy on Tn�stor's
<br /> default,B�eficiary does not waive Beneficiary's right to later cansider the event a default if it cantinues or happens again.
<br /> 16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS FEES; COLLECTION COSTS. Except when
<br /> prohibited by law, Trustor agrees to pay all of Beneficiary's expenses if Tn�stor breaches any covenant in this Security
<br /> Instrum�ent. Trustor will also pay on demand any amount incurred by Beneficiary for insuring, mspecting, preserving or
<br /> otherwise protecting the Property and Beneficiary's security interest. These expenses will bear �nterest from the date of the
<br /> payment un61 paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt. Tn�stor agrees
<br /> to pay all costs and expenses incurred by Beneficiary in collecting, enforoing or protecting Beneficiary's rights and
<br /> rea�edies under this Security Instnunent. 11us amount may include, but is not limitsd to, attomeys' fees, court costs, and
<br /> other legal expenses. This Security Instrument shall remain in effect until releasecl. Tivstor agrees to pay for any
<br /> recordation costs of such release.
<br /> 17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in tlus section, (1) Enviranmental Iaw
<br /> means, without limitation, the Comprehensive Environa�ental Respanse, Compensatian and Liability Act (CERCLA, 42
<br /> U.S.C. 9601 et seq.), and all other fe�leral, state and local laws, regulations, ordinances, court orders, attorney general
<br /> apinions or interpretive letters concerning the public health, safety, welfare, enviranment or a hazardous substance; and (2)
<br /> Ha7atdous Substffice means any touc, radioactive or ha7ardous material, waste, pollutant or contaminant which has
<br /> characteristics wluch render the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br /> enviranment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substances,"
<br /> "hazardous waste"or"hazardous substance"under any Enviranmental Law.
<br /> Trustor represents,warrants�d agrees that:
<br /> A.Except as previously disclosed and aclrnowledged in writing to Beneficiary, no Hazardous Substance is or will be
<br /> located, stored or released on or in the Property. This restriction does not apply to small quantiries of Hazardous
<br /> Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property.
<br /> B. Except as previously disclose� and acl�owledged m writing to Beneficiary, Trustor and every tenant have been, are,
<br />! �d shall remain in full compliance with any applicable Environmental Law.
<br /> C. Trustor shall immediately notify Beneficiary if a release or threatened release of a Hazaidous 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, Tnistor shall take all necessary remedial action in accordance with any Environaiental 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 investigation, claim, or proceeciing relating to the release or threatened release of any Hazardous
<br /> Substance or the violakion of any Enviranmental Law.
<br /> 18. CONDEMNATION. Trustor will give Beneficiary pmmpt notice of any pending or threatened action, by private or public
<br /> entities to purchase or take aay or all of the Property through condemnation, eminent domain, or any other means. Trustor
<br /> � GT 1 28-090 (1 1/97) /page 4 of 61
<br /> �1994 Bankera Systems,Inc.,St.Cloud,MN Form GTH-MTGLAZNE 1/8/98
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