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<br /> Financial Reports and Additional Documents. Trustor will pray:de to Beneficiary upon request, any financial statement
<br /> or i.form3tton Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver. and file any additional
<br /> documents cr certifications that 13encticiarv-may consider necessary to perfect.continue, and preserve Trustee's obligations
<br /> under this Security Instrument and Beneficiary s lien status on the Property.
<br /> G. «•ARRANT' OF TITLE. Trsuster warrants that Trustor is or will be lawfully seized of the estate convr:_icd by this
<br /> • Security Instrument and has the richt to irrevocably grant. convey, and sell the Property to Trustee, in trust. with power of
<br /> `• sale Trustor a:s1 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 ei, or contract for the creation of, a transfer or sale of the Property. This tight is sub)ect to the
<br /> restrictions imposed by federal law t 12 C F R. 591),as applicable.
<br /> F. DEFAULT. Trustor will be in default if any of the following oec;:::
<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 dttc•. .
<br /> Property. Any action or inaction by the Borrower or Trustor occurs that adversely affects the Property or Beneficiary's _
<br /> rights in the Property. This includes. but is not limited to, the following: (a)Trustor fails to maintain required insurance
<br /> on the Property; (b) Trustor transfers the Property; (c)Trustor commas waste or otherwise destructively uses or fails to
<br /> :nairtain the Property such that the action or inaction adversely affects Beneficiary's security; (d)Truster fails to pay taxes .
<br /> on the Property or otherwise fails to act and thereby causes alien to be filed against the Property that is senior to the hen .
<br /> of this Security Instrument; (c) a sole Trustor dies; (f) if more than one Trustor, any Trustor dies and Beneficiary's
<br /> security is adversely affected: (g)the Property is taken through eminent domain:(h)a judgment is filed against Trustor and •
<br /> subjects Trustor and the Property to action that adversely affects Beneficiary's interest: or(t)a prior lienholder forecloses
<br /> on the Property and as a result,Beneficiary's interest is adversely affected.
<br /> Executive Officers. Any Borrower is an executive officer of Beneficiary or an affiliate and such Borrower becomes
<br /> indebted to 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 to any other remedy available under the terms of this Security Instrument,
<br /> Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law if Trustor
<br /> is in default. In some instances, federal and state law will require Beneficiary' to provide Trustor with notice of the right to
<br /> cure, or other notices and may establish time schedules for foreclosure actions. Each Trustor requests a copy of any notice .
<br /> of default and any notice of safe thereunder be mailed to each Trustor at the address provided in Section 1 above. `
<br /> At the option of the 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 /> :hereafter.
<br /> If there is a default. Trustee shall, at the request of the Beneficiary, advertise and sell the Property as a whole or in
<br /> separate parcels at public auction to the highest bidder for cash and convey absolute title free and clear of all right, title
<br /> and interest of Trustor at such time and place as Trustee designates. Trustee shall give notice of sale 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 make 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 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 /> Thc acceptance by Beneficiary of any sum in payment or partial payment on t`:e Secured Debt after the balance is due or is
<br /> accelerated or after foreclosure proceedings are tiled shall not constitute a waiver of Beneficiary's right to require complete
<br /> cure of any existing default. By not exercising any remedy on Trtutor's default, Beneficiary does not waive Beneficiary's •
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<br /> richt to later consider the event a default if it happens again.
<br /> 10. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If Trustor breaches
<br /> any covenant in this Security Instrument, Truster agrees to pay all expenses Beneficiary incurs in performing such
<br /> covenants or protecting its security interest in the Property. Such expenses include, but are not limited to, fees incurred for
<br /> inspecting. preserving, or otherwise protecting the Property and Beneficiary's security interest. These expenses are payable •
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<br /> on demand and will bear interest from the date 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 to pay all costs and expenses incurred by Beneficiary in
<br /> collecting enforcing or protecting Beneficiary's rights and remedies under this Security Instrument. This amount may
<br /> include, but is not limited to,Trustee's fees,court costs, and other legal expenses. To the extent permitted by the United
<br /> States Bankruptcy Code,Trustor agrees to pay the reasonable attorneys fees Beneficiary incurs to collect the Secured Debt x:
<br /> as awarded by any court exercising jurisdiction under the Bankruptcy Code.This Security Instrument shall remain in effect
<br /> until released-Trustor agrees to pay for any recordation costs of such release. rA
<br /> 11. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
<br /> means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42
<br /> U.S.C. 960; et seq..), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general
<br /> opinions or 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 has
<br /> characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br /> environment. The term includes, without limitation, any substances defined as "hazardous material," 'toxic substances,"
<br /> "hazardous waste"or"hazardous substance"under any Environmental Law.
<br /> Trustor represents,warrants and agrees that:
<br /> A.Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardstu,Substance is or will be -
<br /> located, stored or released on or in the Property. This restriction does not apply to small ttuantities of Hazardous
<br /> Substances that are generally recognized to be appropriate for the normal use and maintenance of the Pro
<br /> B. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every tenant have been, are,
<br /> and shall remain in full compliance with any applicable Environmental Law.
<br />• C.Trustor shall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance occurs on, -
<br /> under or about the Property or there is a violation of any Environmental Law concerning the Property. In such an
<br /> event,Trustor shall take all necessary remedial action in accordance with any Environmental Law.
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<br /> •,'Z'',?3a 8.11,e.s S•rsre<ns,Inc.Sr Cloud.MN Form OCP•REDT•NE 1!13/99 _ -
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