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<br /> 14. DEFAULT.Trustor-will be in default if any party obligated on'the Secured D�bt fails to make payment when due. Trustor
<br /> will be in default if a breach occurs under the terms of this Security Instrument;or any other docttment txecuted for the
<br /> purpose of creatin�, securing or guarantying the Secured Debt: A'good faith belief by`Benefici�ry that Beneficiary at any
<br /> time is insecure wrth respect to any person or entity.obligated on the Secured Debt'or that the pros�3ecffof any payment or
<br /> the value of the Property is:impaired shall also constrtute an event of default. - .
<br /> 15. REMEDIES ON I]EFAUL'1'.'In some instances, federal and state law will require Bene�iciary to provide Trustor with
<br /> notice of the right to ctue or other notices and may establish time schedules for foreclosure actions.',Sub�ect to these
<br /> limitations, if any, Beneficiaty may accelerate the Secured Debt and foreclose this Security Instrument in a mannex
<br /> provided by law if Trustar is in default.
<br /> At the aption of$enefici , all or any �art of the agreed fees and charges, accrued interest and principal shall become -
<br /> imme�liately due at� pay�le, after grving notice if required by law, upon the occurrence of a default or anytime
<br /> thereafter. It�,additic�A, Bc�teficsary shall be entitled to all the remedies provided by law, the terms of the Secured Debt,
<br /> this Sec��7ity.�nsttumeut and any related documents, including without limitation, the power to sell the Property.
<br /> ������ ` ��t}���` � ,, in�tion to any other per�itted remedy, at the request of the Beneficiary, advertise
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<br /> - t'h�P�+` a�'iole ar in 'sepazate parcels at public`auation to the highest;bidder fo�;� �����bsolnte
<br /> titl� fre�aad.c�ear of�!1 rig�t, t�itle and�nterest of Trustor at such time e�d pia�as Tra�e' e5. 'Frustee shall give
<br /> notice of t�C�, terms and place of sale and a description of the property to be sold as required by the
<br /> ���s �f ��'
<br /> ect�t tt�e time of the groposed sale: ,
<br /> � Ugo+a sale of the property and to the extent not prohibited by law, Trustee shall malce and deliver a deed to the Property
<br /> so7d which conveys absolute title to the purchaser, and after first,paying all fees, chazges and costs, shall pay to
<br /> Bene�ciary all moneys advanced for repairs, taxes, 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 /> A�1�remedies aze 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 accep�ance by Beneficiary of any'suin in payment or partial payment on the
<br /> Secured I�ebt after the balance is due or is accelerated or after foreclosure proceedings are filed shall,noi,copstitute�a
<br /> waiver�o�,Ben�ficiary's righf,to require.complete,cure.of any;existing'default.:By not exercistng any, rennedy:on,�'rustor s
<br /> default,Seneficiary daes not,waive Beneficiary's,riglit to later consider the everit a default if'it conti�ues or happens again.
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<br /> 16.:EXPENSES; ADVEINCES, ON COVENANTS; .ATTORNEYS' FEES;, COLLECTION� COSTS: Bxcept when
<br /> prohibited by Iaw, Trustor agrees to pay all of Beneficiacx's expenses if.'Frustor.breache�,any covenant in this Security
<br /> Instrument. Trustor will also pay on demand any amount incurred by Beneficiary for insurin�, mspecting, preserving or
<br /> otherwise protectin�the Property and Benefi¢iary's security�interest. These expenses will bear interest from the date of the
<br /> payment until paid m full at the highest interest rate in effect as providal in the terms of the Secur e d De bt. Trustor agrees
<br /> to pay, all costs at�l expenaes incurred by Beneficiary in collecting, eaforcing or protecting Beneficiary's rights and
<br /> remodres under this St�ur�t�.Iastrument. This�nount may inc�ude, but�s not li�t�d to► attc�meys' fees, eourt costs, and
<br /> ��er le�al ex�uscs 'fhis �Seau�ity Instru�t �,.� � ��.��t� �rela�+d: �'�vs�r � to pay for �tY
<br /> ��4��e- recortlat�o�c�ta cc�f sia�h r�Is�se. a� " "� ' � '� � ���� .„� � ��z ��� _._
<br /> _.�R 17.£� �SUBST CES. As used �n th�s sectta�, > Law
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<br /> . , , �antf"� �;` .• , , �ourt t`�, rne3' g
<br /> ogii�ions or interpretive letters concerning the public health, safety, welfare,environm�t cu a hazardous substance, and(2)
<br /> Ha�azdvus Substance means any toxic, radioactive or hazardous material, waste,, c�' c�ntazninant which has
<br /> characteri§tics which render tbe substance dangerous or potentiatiy dang;erous #a �'pub�i�' ;>�a�et�+, welfaze or
<br /> envimnment. The temi i�l�ies, without timitation, any substances defu�cd as "haza�us rnate�al," "�o�c�ubstances,«
<br /> �"hazardous waste"�ot,"hazardous substanee"uu,der any Environmeaatal Law. - ,: :. ,r,. : s...,, :: ;�
<br /> 'T`rusfor represents;:warrants and�Srees thac:_.� . � . LL. ;. .�, , _� ' � y.1 ^�; �� . .
<br /> A.Eacept as previousiy disclosed and �cknovi+ledged in writing to Beneficiary, no:�Hazardous. St�6�Eance•is or will be
<br /> located, stored or released on or in the Property. This restnction daes not apply to small quantities of Hazardous
<br /> Substances that are generally recognized to be appropriate€or the norm�t use.and'ma�ntenance of thb Property. ��-
<br /> ; B.Ex t as p�eviously disclosed;and acknowledged in writing to Beneficiary, Trustor and every xenant have been, are,
<br /> :and�all remain in full•compliance with any applicable Environmental�La�v. �
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<br /> C.Trustor shall immediately notify Beneficiar� if a release or threaten� release of a Hazardous Substance occurs on,
<br /> under or about the Property or there is a violation of any Bnvimnmental Law concerning the Property. In such an
<br /> event, Trustor shall take all necessary remedial action in accordance with any Environmental 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 proceeding relating to the release or 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 condemnation, eminent domain, or any other me_.ans,_Trustor
<br /> authorizes Benefici to inte � ' ' -� - .,�.. ;. . ' ' . ��'� �'
<br /> ;,�,. .a vt other taki�f all or anq
<br /> parf of the Pcopert�. Such proceeds shall be considered payments and will be applied as provided in this Security
<br /> Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or
<br /> other lien document. `
<br /> 19. INSURANCE. Trustor sha11 keep Property insured against loss by fire, flood, theft and other.haza�ds and risks reasonably
<br /> associated with-the Pro}5erty due to its type and 1Qcation. This msurance shall be maintained in the amounts and for the
<br /> periods that Beneficiary rec�wres. The uisurance'carrier providing the insurance shall be chosen by Trustor subje�t to
<br /> Benefciary's a�proval, wluch shall not be unreasonably withheld,. If Trustor fails to �tauL the coverage described
<br /> above, Beneficiac� may, at Beneficiary's option,obtain coverage to protect.Beneficiazy's rights in.the Property according
<br /> to the terms of this Secur�ty Instrument.
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<br /> All insur ce olicies;and;renewals shall.b�acceptabl�to Bene..ficiary,aud shall;include a stan�iard-"mortgage clause" and,
<br /> where.applica�le,;"loss payee.clause."�Trustor shall im�ediately not�fy:Beneficiary:of cancell-at�on,ior�termu�ation of the
<br /> insurance. Beneficiary shall have the right to hold the policies and renewals.. If BeneficiaYy requires, :Trustor shall
<br /> immediately give to Beneficiary all 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 toss if not made immediately by
<br /> Trustor.
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<br /> A1994 Bankers Systems,Inc.,St.Cloud,MN (1-800•397-2341) Form RE-DT-NE 10/27/97 �
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