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200301540
<br />C. The making or furnishing of any verbal or written representation, statement or warranty to Beneficiary that Is
<br />false or incorrect in any material respect by Trustor or any person or entity obligated on the Secured Debt;
<br />D. The death, dissolution, appointment of a receiver for, or application of any debtor relief law m, Tnhstor or any
<br />person or entity obligated on the Secured Debt;
<br />E. A good faith halief by Beneficiary at any time that Beneficiary is insecure with respect to any person or entity
<br />obligated on the Secured Debt or that the prospect of any payment is impaired or the Property is Impaired;
<br />F. A material adverse change in Trustor's business Including ownership, management, and financial conditions,
<br />which Beneficiary in Its opinion believes Impairs the value of the Property or repayment of the Secured Debt; or
<br />G. Any loan proceeds are used for a purpose that will contribute to excessive erosion of highly erodible land or to
<br />the conversion of wetlands to produce an agricultural commodity, as further explained in 7 C.F.R. Part 1940,
<br />Subpart G, Exhihit M.
<br />16. REMEDIES ON DEFAULT. In some instances, federal and state law will require Beneficiary to provide Truster with
<br />notice of the right to cure, mediation notices or other notices and may establish time schedules for foreclosure actions.
<br />Subject to these limitations, if any, Beneficiary may accelerate the Secured Debt and foreclose this Deed of Trust in a
<br />manner provided by law If this Truster is In default.
<br />At the option of Beneficiary. all or any part of the agreed fees 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 addition, Beneficiary shall be entitled to all the remedies provided by law, the Evidence of Debt, attar
<br />evidences Of dent, this Deed of Trust and any related documents including without limitation, the power to sell the
<br />Property.
<br />If there is a default, Trustee shall. in addition to any other permitted remedy, at the request of the Beneficiary,
<br />advertise and sell the Property as a whole or In separate parcels at puhlic auction to the highest hinder for cash and
<br />convey absolute title free and clear of all right, title and interest of Truster at such time and place as Trustee
<br />designates. Trustee shall give notice of sale including the time, terms and place of sale and a description of the
<br />property to be sold as required by the applicable law in effect at the time of the proposed sale.
<br />llpon sale of the Property and to the extent riot prohibited by law, Trustee shall make and deliver a deed to the
<br />Property sold which conveys absolute title to the purchaser, and after first paying all fees. charges and costs, shall pay
<br />to Beneficiary all moneys advanced for repairs, taxes, insurance, liens, assessments and prior encomhrances and
<br />interest thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to 1 rustor. Beneficiary
<br />r1t y purchase the Property. The recitals in any dead of conveyance shall be prima facie evidence of the facts set forth
<br />therein.
<br />All remedies are distinct, cumulative and not exclusive, and the Beneficiary is entitled to all remedies provided at law
<br />or equity, whether expressly set forth or not The acceptance by Beneficiary of any sum in payment or partial payment
<br />on the Secured Debt after the balance is due or is accelerated Or after foreclosure proceedings are tiled shall not
<br />constitute a waiver of Beneficiary's right to require full and complete cure of any existing default. By not exercising
<br />any remedy on Trustor's nefao H, Beneficiary does not waive Beneficiary's right to later consider the event a default if
<br />it continues or happens again.
<br />17. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law,
<br />Trustor agrees to pay all of Beneficiary's expenses If Truster breaches any covenant In this Deed of Trust. Trustor will
<br />also pay on demand all of Beneficiary's expenses incurred in collecting, insuring, preserving or protecting the Property
<br />or in any inventories, audits, inspections or other examination by Beneficiary in respect to the Property. I roster agrees
<br />to pay all costs and expenses Incurred by Beneficiary in enforcing or protecting Beneficiary's rights and remedies under
<br />this Deed of Trust, Including, but not limited to, attorneys' tees, court costs, and other legal expenses. Once the
<br />Secured Debt is fully and finally paid, Beneficiary agrees to release this Deed of Trust and Truster agrees to pay for
<br />any recordation costs. All such amounts are due on demand and will bear interest from the time of the advance at the
<br />highest rate in affect, from time to time, as provided in the Evidence of Debt and as permitted by law.
<br />1B. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) "Environmental Law" means,
<br />without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C.
<br />9601 at seq.), all other federal, state and Incal laws, regulations, ordinances, court orders, attorney general opinions or
<br />interpretive letters concerning the public 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
<br />has characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare
<br />or environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic
<br />substances," "hazardous waste" or "hazardous substance" under any Environmental law. Irustor represents,
<br />warrants and agrees that, except as previously disclosed and acknowledged in writing:
<br />A. No Hazardous Substance has been, Is, or will be located, transported, manufactured, treated, refined, or handled
<br />by any person on, under or about the Property, except in the ordinary course of business and in strict
<br />compliance with all applicable Environmental Law.
<br />B. Irustor has not and will nut cause, contribute to or permit the release of any Hazardous Substance on the
<br />Property.
<br />(page 4 of 8)
<br />L'Ie�"V 01se3 .a1 tors— iMams, Inc, St Clout, ON I.— Acl. PEA NE 3112002 _02,
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