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Z00303368
<br />Flimin l Reports and Additional Documents. Trustor will provide to Beneficiary upon request, any financial statement .
<br />of infomtation Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any additional
<br />documents or certifications that Beneficiary may consider necessary m perfect, continue, and preserve Truster's obligations
<br />under this Security Instrument and Beneficiary's lien status on the Property.
<br />6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Security instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of
<br />sale. 'Trustor also warrants that the Property is unencumbered, except for encumbrances of record.
<br />7. DUE ON SALE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be immediately due and
<br />payable upon the creation o7. or contract for the creation of, a transfer or sale of the Property- This right is subject to the
<br />restrictions imposed by federal law (12 C.F.R. 591), as applicable.
<br />8. DEFAULT. 'Trustor will be in default if any of the following occur:
<br />Fraud. Any Consumer Borrower engages in fraud or material misrepresentation in connection with the Secured Debt that
<br />is an open end home equity plan.
<br />Payments. Any Consumer Borrower on any Secured Debt that is an open end home equity plan fails to make a payment .
<br />when due_
<br />Property. Any action or 'notion by the Borrower or Trustor clients that adversely affects fhc Properly ur Beneficiary's
<br />lights in the Property. This inclutles, but is not limited to, the following: (a)'fmsto[ fails to maimam required insuranuc
<br />on [he Property; (h) Trustor transfers [be Property; (c) Trialnr commits waste or otherwise destructively uses or fails m
<br />maintain the Ytoperty such that the action or inaction adversely affects Benefckrry's sceurity; (d) Trustor fails [o pay taxes
<br />on dm Property or otherwise fails to act and thereby causes a hen to be filed against the Ytoperty that is senior to the lien
<br />of this So,"" Instrument, (e) A sole '1'tusto[ dies; (t) if more than one Trustoq any ism[ dies and Beneficiary's
<br />security is adversely affruYed; (g) the Properly is taken through eminent domain; (h) a judgmmnt ma filed against Tmsm[ and
<br />subjects Trustor and the Property to action I. of advcrseiy affects Beneficiary 's interest; o[ (i) a prior lienbolder forecloses
<br />on the Property and as a result, Beneficiary', interest is adversely a17u;tcd.
<br />Executive Officers. Any Borrower is an executive officer of Beneficiary or an affiliate and such Borrower becomes
<br />indebted m Beneficiary or another lender in an aggregate amount greater than the amount permitted under federal laws and
<br />regulations
<br />9. REMEDIES ON DEFAULT. In addition n1 any other remedy available under the terms of this Security lnslrument,
<br />Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a mancer provided by law it' 'l'mstor
<br />is in default. In some instances, federal and state law will requite Beneficiary to provide Trustor with notice of the tight to
<br />cure, or other notices and my establish time schedules for foreclosure actions. Each Trustor requests a copy of any notice
<br />of default and any notice of sale thereunder be mailed to each Truxlur at the address provided in Section 1 above.
<br />At the option of the Beneficiary, all or any pan of the agreed fees and charges, accrued interest and principal shall become
<br />immediately due and payable, after giving nolicc if required by law, upon the occurrence of a default or anylinm
<br />thereafter
<br />If there is a default, 'trustee shall, at the request of the Beneficiary, advertise and sell the Property as x whole or in
<br />separate parcels at public auction to the highest bidder for cash and convey absolute title free and Gear of all right, title
<br />mad interest of 'Trustor At ouch lime, and place as Trustee designare,s. Trustee shall give notice of side including the time,
<br />terms and place of sale and a description of the property to be sold as required by the applicable law in effect at the time of
<br />the proposed sale.
<br />Upon sale of the property and to the extent not prohibited by law, Trustee shall undue 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, taxes, insurance, liens, Assessments and prior encumbrances and interest
<br />thereon, and the principal and interest on the Secured Debi, paying the surplus, if any, to 'frastor. Beneficiary may
<br />purchase the Ytoperty. The recitals in any deed of conveyance shall be prim facie evidence of Wu facts set forth [herein.
<br />The acceptance by Beneficiary of any sum in pa ment or partial payment on the Secured Debt after the balance is due or is
<br />accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Beneficiary's right to require complete
<br />cure of any existing default. By not exercising any remedy on Trustor's default, Beneficiary does nor waive Beneiciary's
<br />right In later consider the even[ a default if it happens again.
<br />10. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS If Truswr breaches
<br />any covensnt in this Security Instrument, Truster agrees m pay all expenses Beneficiary incurs in performing such
<br />covenants or protesting its security interest in [he Property- Such expcnsex Include, but are not limited m, fees incurred for
<br />inspecting preserving or ta herwisc protecting the Property and Beneficiary's security interest_ These expenses are payable
<br />on demand and will bear interest from the dam of payment until paid in full at the highest rate of interest in effect as
<br />provided in the terms of the Secured Debt. Trustor agrees In pay all costs and expenses incurred byy Beneficiary in
<br />collecting enforcing or rntecting Beneficiary's rights and remedies under this Security Instrument. This amount may
<br />include, but is not lunited to, Trustee's fins, court costs, and other legal expenses. In the extent permitted by the Untmd
<br />Stares Bankruptcy Code, Trustor agrees to pay the reasonable attorneys' fees Beneficiary incurs to collect the Secured Deb(
<br />A% awarded by any court exercising jurisdiction under the Bankruptcy Code, This Security Bms[runent shall remain in effect
<br />until released. 'I rusmr agrees to pay for any recordation costs of such release.
<br />11. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental law
<br />means, without limitation, (he Comprehensive Environmental Response, Compensation anti I..iahility Au (CFRCLA, 42
<br />U.S.C. 9601 or seq), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general
<br />oppminus ,, interpretive levers concerning (be public health, safety, welfare, environment or a hazardous substance; and (2)
<br />Liazudous Substance ..mans any toxic, radioactive or hazardous material, waste, ppollutant or contammna( which has
<br />characteristics which render file substance dangerous or potentially dangerous m tfie public health, safety, welfare or
<br />environment. The tern includes, without limita "h
<br />tion, any substances defined as azardous material," 'Inxic Substances,,
<br />,Irakardous waste" or "hazardous substance" under any Euvirourcotal Law.
<br />Trustor represents, warrants and agrees (hill:
<br />A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is or will he
<br />located, stored or released on or in the Property. '['his restriction does not apply to small quantities of Hazardous
<br />Substances that are generally reengnnul to be appropriate for the normal use and mamteainee nl the Properly.
<br />B. Rxc%t as previously disclosed and acknowledged tit writing to Beneficiary, Trustor and every, tenant have been, are,
<br />and shall imam in full compliance with any applicable Eaviromnental Law.
<br />C. Trustor shall immediately notify Beneficiary If a release or threatened release dP a hazardous Substance occurs on,
<br />under of about the Property or There is a violation of any Environmental Law concerning (be Property. In such an
<br />event, Trustor shall take all necessary remedial action in accordance with any Environmental Law.
<br />(save 3 or e)
<br />Ekj��lt]�V try IRs4 Panke Sy—M r, ru rte, 5,, Clm i d, MN Form OCR RED T -NE 1 1 so13003
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