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200209964
<br />Property. Any action or inaction by the Borrower or Tremor occurs that adversely affects the Property or Beneficiary's rights in
<br />the Property. This includes, but is not limited to, the following. (a) Trustor fails to maintain required insurance on the Pmperty; (b)
<br />Trustor hammers the Property; (c) Trustor commits waste or otherwise destructively uses or fails to maintain the Property such that
<br />the action or inaction adversely affects Beneficiary's security; (d) Trustor fails to pay taxes on the Properly or otherwise fails to act
<br />and thereby causes a lien to be filed against the Property that is senior to the lien of this Security Instrument{ (e) a auto Tmstor dies;
<br />(p if more than one Trustor, any Trustor dies and Beneficiary's security is adversely affected; (g) the Property is taken through
<br />eminent domain; (h) ajudgment is filed against Trustor and subjects Trustor and the Properly to action that adversely affects
<br />Beneficiary's interest; or (t) a prior Iieaholder forecloses on the Property and as a result, Beneficiary's interest is adversely
<br />affected.
<br />Executive Officers. Any Borrower is an executive officer of Beneficiary or an affiliate and such Borrower becomes indebted to
<br />Beneficiary or another lender in an aggregate amount greater than the amount permitted under federal laws and regulations -
<br />9. REMEDIES ON DEFAULT. In addition to any other remedy available under the terms of this Security Instrument, Beneficiary
<br />may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law If, motor is in default. In
<br />some, instances, federal and state low will require Beneficiary to provide Trustor with notice of the right to cure, or other notices and
<br />may establish time schedules for foreclosure actions. Each Trustor requests a copy of any notice of default and any notice of sale
<br />thereunder be mailed to each Trustor at the address provided in Section I above.
<br />Al the option of the Beneficiary, all or any pan ofthe agreed fees and charges, accrued interest and principal shall become
<br />immediately due and payable, after giving notice if required bylaw, upon the occurrence ofa default or anytime thereafter.
<br />If there is a default, Trustee shall, at the request of the Beneficiary, advertise and sell the Properly as u whole or in separate parcels
<br />at public auction to the highest bidder for cash and convey absolute title free and clear of all nghq title and interest of Trustor at
<br />such time and place as Trustee designates. Trustee shall give notice of sale including the time, terms and place of sale and a
<br />description of the property to be sold as required by the applicable low in effect at the time of the proposed sale
<br />Upon sale of the Property and to the extent not prohibited by law, trustee shal l make and deliver a decd to the Property sold which
<br />conveys absolute title to the purchaser, and after first paying all fees, charges and costs, shall pay to Beneficiary all moneys
<br />advanced for repairs, taxes, insurance, liens, assessments mid prior encumbrances and interest thereon, and the principal and interest
<br />on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may purchase the Property The recitals in any deed of
<br />conveyance shat l be prima facie evidence of the facts set forth therein.
<br />The acceptance by Beneficiary of any sum in payment 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 cure of
<br />any existing default. By not exercising any remedy on Truster'ss default, Beneficiary does not waive Beneficiary's right to later
<br />consider the event a default if it happens again.
<br />10. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. It'Torator hreaches any
<br />covenant in this Security Instrument, Trustor agrccs to pay all expenses Beneficiary incurs in performing such covenants or
<br />protecting its security interest in the Property. Such expenses include, but are not limited to, fees incurred for inspecting,
<br />preserving, or otherwise protecting the Property and Beneficiary's security interest. These expenses arc payable on demand and
<br />will bear interest from the date of payment until paid in full at the highest rate of interest in effect as provided in the terms of the
<br />Secured Debt. Trustor agrees to pay all costs and expenses incurred by Beneficiary in collecting, enforcing or protecting
<br />Beneficiary's rights and remedies under this Security Instrument. This amount may include, but is not limited to, Trustee's fees,
<br />court costs, and other legal expenses. To the extent permitted by the United Stales Bankruptcy Code, Trustor agrees to pay the
<br />reasonable attorneys' fees Beneficiary incurs to collect the Secured Debt as awarded by any court exercising jurisdiction under the
<br />Bankruptcy Code. This Security Instrument shall remain in effect until released. Truster agrees to pay for any recordation costs of
<br />such release.
<br />11. 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. 9601 ct
<br />sc l.), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or interpretive
<br />letters concerning the public health, safety, welfare, environment or ahazardous substance; and (2) Hazardous Substance means any
<br />toxic, radioactive or hazardous material, waste, pollutant or contaminum which has characteristics which reader the substance
<br />dangerous or potentially dangerous to the public health, safety, welfare or environment The term includes, without limitation, any
<br />substances defined as " hawrdous material;' "toxic substances;' "hamtdons waste" or "Ineardous substance" under any
<br />Environmental Law.
<br />Trustor represents, warrants and agrees that:
<br />A .Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is or will be located,
<br />stored or released on or in the Property- This restriction does not apply to small quantities of liszardous Substances that are
<br />generally recognized to be appropriate for the normal use and maintenance of the Property 12776
<br />Expere'TM 01994 Bankers Syslems, Inc, St Ciirm, MN Fain I ISBOCP DT NF 9/52001
<br />(page 4 of 6)
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