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200305441 B. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every tenant have been, are, and shall remain in full compliance with any applicable Environmental Law. C.Toistor shall immediutely notify Beneficiary if release or threatened release of a Hazardous Substance occurs on, under or about the Property or there is a violation of any Environmental Law concerning the Property. In such an event, Trustor shell take all necessary remedial action in accordance with any Environmental Law. D.Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is any pending or threatened investigation, claim, or proceeding relating to the release or threatened release ofany Hazardous Substance or the violation of uny Fripronm intal Law. 12. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 13. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Trustor signs this Security Instrument but does net sign an evidence of debt, Trustor does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Trustor or any patty indebted under the obligation. These rights may include, but are not limited to, any anti - deficiency or one-action laws. The duties and benefits oflhis Security Instrument shall bind and benefit the successors and assigns of Trustor and Beneficiary. 14. SEVERABILITY; INTERPRETATION. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enfrreed according to its terms, that section will be severed and will not affect the enforceability of the remainder oflhis Security Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the section of this Security Instrument are for convenience only and arc not to be used interpret or define the terms ofthis Security Instrument. Time is ofthe essence in this Security Instrument. 15. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee, and appoint a successor trustee without any formality than the designation in writing. The successor trustee, without conveyance ofthe Property, shall succeed to all the tide, power and duties conferred upon Trustee by this Security Instrument and applicable law 16. NOTICE. Unless otherwise required by law, any notice shall be given be delivering it or by mailing it by first class mail to the appropriate party's address on page I ofthis Security Instrument, or to any other address designated in writing. Notice W one trust., will be deemed to be notice to all trustora 17. WAIVERS. Except to the extent pmhibihd by law, Trustor waives all appraisement and homestead exemption rights relating to the Properly. 18. LINE OF CREDIT. The Secured Debt includes a revolving line of credit. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. 19. APPLICABLE LAW. This Security Instrument is governed by the laws as agreed in in the Secured Debt, except to the extent required by the laws ofthejurisdiction where the Property is located, and applicable federal laws and regulations. 20. RIDERS. The covenants and agreements Stench ofthe riders checked below ore incorporated into and supplement and amend the terms ofthis Security Instrument. (check all applicable boxer) 2 Assignment of Leases and Rents — Other. 21. - CONSTRUCTION LOAN. This Security Instrument is a construction security interest which secures an obligation incurred for the construction of an improvement on the Properly. 22. } ADDITIONAL TERMS. Expos- !01994 Banker, Systems, Inc., St Cloud, MN Fmm USBOCP -DT -NF 9/52601 (page 5 of b)