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<br />200710297
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<br />Financial Reports and Additional Documents. Trustor will provide to Beneficiary upon request, any financial statement
<br />or information Beneficiary may deem reasonably necessary. Trustor agrces to sign, deliver, and file any additional
<br />documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Trustor's obligations
<br />under this Security Instrument and Beneficiary's lien status on the Property.
<br />
<br />6. W AR.RANTY OF TITLE. Tru~tor w~rrants that Trustor is or will be lawfully seized o,f the e~tate conveyed by this
<br />Secunty Instrument and has the nght to trrevocably grant, convey, and sell the Property to 1 rustee, 111 trust, WIth power of
<br />sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record.
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<br />7. DUE ON SALE. Bem;ficiary may, at its option, decl?re the cntire ~alance of the Secured Debt to. be immediatel~ ~ue .and
<br />payable upon the creahon of, or contract for the creatiOn of, a transfer or sale of all or any part of the Property. flus nght
<br />IS subject to the restrictions imposed by federal law (12 C. f. R. 591), as applicable.
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<br />8. DEFAULT. Trustor will be in default if any of the following occur:
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<br />}'raud. Any Consumer Borrower engages in fraud or material misrepresentation in connection with the Secured Debt that
<br />is an open end home equity plan.
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<br />Payments. Any Consumer Borrower on any Secured Debt that is an open end home equity plan fails to make a payment
<br />when duc.
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<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 commits waste or otherwise destructively uses or fails to
<br />maintain the Property such that tile action or inactIOn adversely affects Beneficiary's security; (d) Trustor fails to pay taxes
<br />on the Property or otherwise fails to act and thereby causes a lien to be filed against the Property that is senior to the lien
<br />of this Security Instrument; (e) a sole Trustor dies; (t) 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 B. eneficiary's interest; or (i) a prior lienholder forecloses
<br />on the Property and as a result, Beneficiary's interest is adversely affected.
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<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.
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<br />9.
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<br />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 s(?me instances, fede~al al}d state law will re~:JUire Benefici~ry to provi,d,e Trustor with notice of ,the right. to
<br />cure, or oilier notIces. and may establtsh tune sc~edules for f,~reclosure actIons. Each 1. rustl?r requ.ests a copy of any notIce
<br />of default and any notIce of sale thereunder be matled to each I rustor at the address proVIded 111 SectIOn I above.
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<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 giv1l1g notice if required by law, upon the occurrence of a default or anytime
<br />thereafter.
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<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.
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<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 fecs, 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 prin~ir.al an? in!erest on the Secured Debt, paying. the sL~rplu~, if any.. to Trustor. Benefici~~ry may
<br />purchase the Property. I he reCItals 111 any deed of conveyance shall be pnma facIC eVIdence of the facts set forth therem.
<br />
<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
<br />cure of any existing default. By not exercising any remedy on Trustor's default, Beneficiary does not waive Beneficiary's
<br />right to later consider the event a default if it happens again.
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<br />10. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If Trustor breaches
<br />any covenant in this Security Instrument, Trustor agrees to pay all expenses Beneficiary incurs in performing such
<br />covenants or protecting its security interest in the Property. Such expenses mclude, 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
<br />on demand and will hear 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 protect. ing Ben.. eficiary's rights and remedies under this Security Instrument.. This amount1!lay
<br />include, but is not hmited to, Trustee's fees, court costs, and other le~al expenses. To the extent permItted b~ the Untted
<br />States Bankruptcy Code, Trust~)~ ag~ee~ t~) ray ilie reasonable attorneys fees B~neficiary incurs to collect the Se~ur.ed Debt
<br />as awarded by any court exercISIng JUrIsdtctlOn under the Bankruptcy Code. ThIS Secunty Instrument shall remain 111 effect
<br />until released. Trustor agrees to pay for any recordation costs of such release.
<br />
<br />1l.--EN:v-IRONMENTAL LAWS AND- HAZARDOUS-SUBSTANCES.- As- used -in-this section, -9JEmcirorunentaL Law
<br />means, without limitation, tl1e Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42
<br />U.S.C. 9601 et seq.), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general
<br />opinions or ipterp. retive letters concer~ing tht: pub~ic health, safety, wclfar~, environment or a hal.ardous sl!bstance; .and (2)
<br />Hazardous Substance means any tOXIC, radIOactIve or hazardous matenal, waste, pollutant or contammant 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.
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<br />Trustor represents, warrants and agrees that:
<br />A. Except as previously disclosed an~ acknowledged iI,1 :-vntmg. tl! Beneficiary, no Hazardous Subs~a.nce i~ or will be
<br />located, stored or released on or II?- the Properly. 1.hls restnctIon does not apply., to small quantItIes of Hazardous
<br />Substances that are generally recogmzed to be appropnate for the normal use and mamtenance of the Property.
<br />B. Exce.pt as previously disclosed and acknowledged 111 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.
<br />
<br />(pAge 3 of 4)
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<br />~ @ 1991 Bankers Systems. Ine" St. Cloud. MN fotm OCP-REDT-NE 5/10/2005
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