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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 agrees to sign, deliver, and file any additional
<br />docume~ts or c~rtifications that Beneficif!l)' ~ay.consider necessary to perfect, continue, and preserve Trustor's obligations
<br />under thIS Secunty Instrument and BenefiCiary s hen status on the Property. .
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<br />6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Security Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in 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. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be immediately due and
<br />payab~e upon the cr~at~on ~f, or contract for the creation of, a transfer or sale of all or any part of the Property. This right
<br />IS subject to the restnctlons 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 />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.
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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
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<br />.whendue;-- ..- .. .-... -. - -- v~ - --.,. ...."., ,~__ '., _
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<br />~rope~ty. Any action or !na~tion by the I;lorrowt;r .or Trustor occurs . that adversely aff<:cts the ~rop.erty or. Ben~ficiary's
<br />nghts m the Property. ThiS mcludes, but IS not lImited to, the followmg: (a) Trustor faIls to mamtam reqUired msurance
<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 the action or inactton 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; (f) if more than one Trustor, any Trustor dies and Beneficiary's
<br />security is adversely affected; (g) the Property is taken throus? 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 (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 />indebte~ 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. 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 sale thereunder be mailed to each Trustor at the address provided in 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 givmg 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 />sepa~ate parcels at public auctio~ to the highest bidder for c~sh and convey absolute. title free and c1e~r of ~ll right, .title
<br />and mterest of Trustor at such trrne and place as-Trustee deSignates. Trustee shall gIve nottce of sale-mcludmg the tllne,-
<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 fees, charges and costs, shall pay to
<br />Beneficiary all moneys advanced for repairs, taxes, insurance, liens, assessments and prior encumbrances and mterest
<br />thereon, and the principal and interest on the Secured Debt, raying the surplus, if any, to Trustor. Beneficiary may
<br />purchase the Property. The recitals in any deed of conveyance shal be prima facie evidence of the facts set forth therein.
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<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 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, enforci~ or protecting Beneficiary's rights and remedies under this Security Instrument. This amount may
<br />include, but is not hmited to, Trustee's fees, court costs, and other le~al 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
<br />as awarded by any court exercising jurisdiction under the Bankruptcy Code. This Secunty Instrument shall remain in effect
<br />until released. Trustor agrees to pay for any recordation costs of such release.
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<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. 9601 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.
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<br />Trustor represents, warrants and agrees that: . .
<br />A. Except as previously disclosed an~ acknowledged in :-vriting. t<? Beneficiary, no Hazardous Subs~a!lce IS or Will be
<br />located stored or released on or III the Property. ThIS restnctlOn does not apply to small quanttttes of Hazardous
<br />Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property.
<br />B. Except as previously disclosed and acknowledged m 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 Beneficiarr If a release or threatened releas~ of a Haz~rdous Substance occurs on,
<br />under or a bout the Property or there is a v.lOlati~n ~f any Envif~eIital Law. concerrung the Property. In such an
<br />event, Trustor shall take all necessary remedIal action m accordance With any EnVironmental Law.
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<br />(page 3 of 41
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<br />~ @ 1994 Bank.rs Systems, Inc.. St. Cloud, MN Form OCP-REDT.NE 5/10/2005
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