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<br />200803874
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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 />documel1tsorce,p:ifications that Beneficiary may ~onsider necessary to perfect, continue, and,p~e"serveTrustor's obligations
<br />under tl;l1s$ecunty Instrument and BeneficIary's hen status on the Property. '.' i~)'[ , ,
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<br />6. W ~y QF TITLE. Trustor warrants that Trustor is or will be lawfully seized of'the eshtte! conveyed by this
<br />SecuritylnSlnunent and has the right to irrev.ocably grant, convey, and sell the Property to Trustee,; int~st, with, power of
<br />sale. Trustoralsowarrants that the Property IS unencumbered, except for encumbrances ohf:ciJrd." .
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<br />7. DUE ON 'SALE. Beneficiary may, at its option, declare the entire balance of the Secured Oebt to be immediately due and
<br />payable upon the creation of, or contract for the creation of, a transfer or sale of the Property. This right is subject to the
<br />restrictions imposed by federal law (12C.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
<br />when (lne._ '.' ' _.__ ,'. ,_..___.n__._____ --_
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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 die Property such that the 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 agamst 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 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 omcers. Any Borrower is an' executive officer of Benefici<!IY or an affiliate and such Borrower becomes
<br />indebted to Beneficiary or another lender in an aggregate amount greater than the amount pennitted 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 thi$ Security Instrument in a manner provided by law if Trustor
<br />is in default. In s,!me instances, fede~allll)-d state law will require Benefici~ry to provide Trustor with notice of the right. to
<br />cure, or other notIces and may estabhsh tIme schedules for foreclosure actIons. Each Trustor requests a copy of anynotlce
<br />of default and any notice of sale thereunder be mailed to each Trustor at the address provided in Section 1 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 />separate par~els a!..pu1?lif~auftiQ!l ~o thehighe.st bidder for c~h and _ convey absolut~ title free;md_cle~ of ~l right. .title
<br />an(l.tnterestof Trustor at sucn tlme and place as Trustee deSIgnates. Trustee shall gIVe notIce of sale mcludmg 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 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, 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.
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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 Rerforming such
<br />covenants or protecting its security interest in the Property. Sucn 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, enforcin~ 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 pennitted 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 />'ll.-'ENVlRONMENTAL LAWS-ANDHAZARIlO\JS SUBSl'~~oAa,-used~in:tJUa,,,SQI;l.ti.Qn.--~___~",
<br />means, with<;>ut.limitation the Comprehensive EnvirOnn:tental 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 and acknowledged in writing to Beneficiary, no Hazardous Substance ,is or will be
<br />, located, stored or released on or in the Property. This restriction does not apply to small quantities of Hazardous
<br />, Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property.
<br />B.Except asprev~o~sly discloseq and ac~owledged_ in writing to Beneficiary, Trustor and every tepant ha':'!'t~n"are,
<br />and; shall re~m m f1tll compl~artce WIth ~y apyhcable Envlfonmental Law. ,'" _.' ",', , ,I, "iJ:i, , " ' " '
<br />C. Trustor shall ImmedIately notIfy BenefiCIary If a release or threatened release of a Hazardous Substance occurs on,
<br />under: '9.f 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 Environ11l~w"aI LaW f "
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<br />~ Cl1994BankarsSystemS,lnC.,St.Cloud,MN FormOCP-REOT-NE 113112003 '~ (P~
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