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20420.3453 P model Reports asrd A&Wond Dodmsmsts. Trustor will provide to Bey upon req nay► financial statement or information Beau► may deem reasonably veessa<y. Truster agrees tc sign, deliver, and file any additional documents or certifico t that Beneficiary conddar neeesarry m continue, and preserve Trustor' 9 obligations, under this Security In�u ment and Bs, �iciar s lien at" on fire P y. 6. WARRANTY OF TrrM Truster warrants that Trustor is or will be mfiMy seared of the estate conveyed by this to irrevocably ofT warrants that the Property is uaencuu'nbared� Mire to f in trust, with power 7. DUE ON SALE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be immediately due and payable upon the creation o£ or contract for the creation o& a transfer or sale of the Property. This right is sub,)ect to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. L DEFAULT. Trustor will be in default if any of the following occur. Fraud. Any Consumer Harrower engages in fraud or material misrepresentation in connection with the Secured Debt that is an open end home equity plan. - Any Consumer Borrower on any Secured Debt that is an open end home equity plan fails to make a payment when due. Pt+operty. Any action or inaction by the Borrower or Trustor occurs that adversely affects the Property or Beneficiary's rights in the This includes, but is not limited to, the following:. (a) Trustor fails to maintain required insumancx on the , (b) Trustor transfers the Property-, (c) Trustor commits wrote or otherwise destructively uses or fails to maintain Property such that the action or enaction adversely affects �cisr�'s scanty, d) Truster fails to M taxes on the Property or otherwise fails to act and dhey causes a lien too bye filed against the �roperty that is senior to the lien of this Security Instrument; (e) a sole Trustor dies; (f) if more than one Trustor, any Tru>dtor dies and Beneficiary's security is adversely affected; (g) the Property is taken through eminent domain; (h) a,)udgment is filed against Trustor and subjects Truster and the Property to action that adversely affects Benefi ' s interest, or (r) a prior lienholder forecloses on the Property and as a result, Beneficiary' a interest is adversely affected Executive Officers. Any Borrower is an executive officer of Beneficiary or an affiliate and such Borrower becomes indebted to Beneficiary or another lender in an aggregate amount greater than the amount permitted under federal laws and regulations. 9. REMEDIES ON DEFAULT. In addition to say other remedy available under the terms of this Scam Instrum cK Beneficiary may accelerate the Seamed Debt and foreclose this Security Instrument in a manner prove by law if Trustor is in default. In some instances, federal and state law will require Beneficiary to provide Trustor with notice of the right to cure, or other notices and may establish time schedules for foreclosure actions. Each Trustor requests a copy of any notice of default and any notice of sale thereunder be mailed to each Trustor at the address provided in Section 1 above. At the option of the Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall become nmnmediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter. If there is a default, Trustee shall, at the request of the Beneficiary, advertise and sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash and convey absolute title free and clear of all right, title and interest of Trustor at such time and place as Trustee designates. Trustee shall give notice of sale including the time, terms and place of We and a description of the property to be sold as required by the applicable law in effect at the time of the proposed sale. Ups sale of the property and to the extent not prohibited by law, Trustee shall make and deliver a deed to the Property sold which conveys absolute title to the purchaser, and after first paying all fees, charges and costa, shall pay to Beneficiary all moneys advanced for repairs, taxes, insurance, liens, assessments and prior encumbrances and interest thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may purchase the Property. The recitals in any deed of conveyance shall be prima facie evidence of the facts ,set forth The acceptance by Beneficiary of any soon in payment or partial payment on the Seamed Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Beneficiary's riglrt to require complete come of any costing default. By not eacercismg any reanody on Truster' s default, Beneficiary does not waive Beneficiary' s right to later consider the event a default if it happens again. 10. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If Trustor breaches any covenant in this Security Instrument, Trustor agrees to pay all expenses Beneficiary incurs in performing such coveuar►ts or protecting its security interest in the Property. Such expenses include, but are not limited to, fees incurred for inspecting, preserving, or otherwise pmtoc" the Prop and Beneficiary' s but interest. These expenses are epayable on demand and will bear interest from the date o payment until paid in hill at the highest rate of interest in ffect as provided in the terms of the Secured Debt. Trustor agrees to pay all cocts and expenses incurred by Beneficiary in collechng, enforcing or protesting Beneficiary's rights and remedies under this Security Instrument. This amount may include, but is not lianted to, Trustee's fees, court costs, and other legal expenses. 'l'o the extent permitted by the United States Code, Trustor agrees to pay the reasonable attorneys' fees Beneficiary incurs to coiled the Seamed Debt as aww�by any court exercising jurisdiction under the Banicruptcy Coda This Security Instrument shall remain in effect until released. Tnustor agrees to pay for any recordation costs of such release. 11. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S. C. 9601 et seq. ), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substances," "hazardous waste" or "hazardous substance" under any Environmental Law. Trustor represents, warrants and agrees that: A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is or will be located, stored or released on or in the Property. This restriction does not apply to small quantities of Hazardous Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property. 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. Trustor shall immediately notify Beneficiary if a 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 shall take all necessary remedial action in accordance with any Environmental Law. 3o��f 4) 01994 Ba*ws Systems, Inc., St. Cloud MN Form OCP- REDT -NE 1 /13199 y��L C495(11E) (9902 }01