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<br />14. DEFAULT, Trustor will be in default if any party obligated on the Secured Debt fails to make payment when due. Trustor
<br />will be in default if a breach occurs under the terms of this Security Instrument or any other document executed for the
<br />purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at any
<br />time is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment or
<br />the value of the Property is impaired shall also cOJlstitute an event of default.
<br />15. REMElllES ON DEFAULT, In some instances, federal and state law will require Beneficiary to provide Trustor with
<br />notice of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to tbese
<br />Iirnitations, if any, Beneficiary may accelerate the Secured Debt and foreclose this Sccurity Instrument in a manner
<br />provIdcd by law il" Trustor is in default.
<br />At the option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall bccome
<br />immcdiatcly due and payable, after giving notice if required by law, upon the oceurrencc of a default or anytime
<br />thereafter. In add ition, Beneficiary shall be entitled to all the remedies provided by law, the terms of the SecUl'ed Debt,
<br />this Security Instrument and any related documents, including without limitation, the power to sell the Property.
<br />If there is a default, Trustee shall, in addition to any other permitted remedy, at the requcst of the Beneficiary, advertise
<br />and sell the Propcrty as a whole or in separate parcels at public auction to the highest bidder for cash and convey absolute
<br />title free and clear of all right, title and interest of Trustor at such time and place as Trustee designates. Trustee shall give
<br />notice of sale inclucling tile thne, terms and place of sale and a description of the property to be sold as required by the
<br />applicable law in effect at the time of the proposed sale.
<br />Upon sale of the Property and to the extcnt not prohibited by law, Trustee shall make and dcliver a deed to the ProperlY
<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, insnrancc, licns, asscssments and prior encumbrances and interest
<br />thereon, and thc principal and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may
<br />purchase the Properly. The recitals in any deed of conveyance shall be prima facie evidence of the facts set forth therein.
<br />All remedies are distinct, cumulative and not exclusive, and the Beneficiary is entitled to all remedies provided at law or
<br />equity, whether or not expressly set forth. The acceptance by Beneficiary of any sum in payment or partial payment on the
<br />Secured Debt after the balance is due or is accelerated or after forcclosure proceedings arc filed shall not constitute a
<br />waiver of Beneficiary's right to require complete cure of any existing default. By not exercising any remedy on Trustor's
<br />default, Beneficiary does not waive Beneficiary's right to later consider the event a default if it continues or happens again.
<br />16. EXPENSES; ADVANCES ON COVENANTS; . ATTORNEYS' FEES; COLLECTION COSTS. Except when
<br />prohibited by law, Trustor agrees to pay all of Bcneficiary's expenses if Trustor breaches any covenant in this Security
<br />Instrumcnt. Trustor will also pay on demand any amounl incurred by Beneficiary for insuring, inspecting, preserving or
<br />othcrwisc protecting the Property and Beneficiary's sccurity intcrcst. These expenses will bear interest from the date of the
<br />payment until paid in full at the highest intcrcst rale in effect as provided in the terms of the Secured Debt. Trustor agrees
<br />to pay all costs and expenses incurrcd by Beneficiary in collecting, enforcing or protecting Beneficiary's rights and
<br />remedies under this Security Instrument. This amount may include, but is not limited to, attorneys' fees, court costs, and
<br />other legal expenscs. This Security Instrument shall rcmain in effect until released. Trustor agrees to pay for any
<br />recordation COSts of such rclease.
<br />17, 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 iocal laws, regulations, ordinances, coun 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 />charactcristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br />env ironmcnt. The term includes, without limitation, any substances defined as "hazardous material," "toxic substances,"
<br />"hazardous waSle" or "haZ.ardous substance" under any Environmental Law.
<br />Trustor represents, warrants amI agrees that:
<br />A. Except as previously disclosed and aeknowledged 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 />n. 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. Truslor shall immcdiately notify Beneficiary if a release or threatened release of a Hazardous Substance occms on,
<br />under or about the Property or there is a violation of any Environmental Law concerning the Property. In SLlch an
<br />event, Trustor shall take all necessary rcmcdial action in accordance with any Environmental Law.
<br />D_ Trustor shall irnmediately notify Beneficiary in writing as soon as Trustor has reason to bclieve there is any pending
<br />or threatcned investigation, claim, or proceeding relating to the release or threatened release of any Hazardous
<br />Substance or the violation of any Environmcntal Law.
<br />JR. CONDEMNATION, Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or public
<br />cntities to pmchase or lake any or all of the Property through condemnation, eminent domain, or any other means. Trustor
<br />authorizes Beneficiary to intervene in Trustor's Ilame in any of the above described actions or claims. Trustor assigns to
<br />Beneficiary the proceeds of any award or claim for damages connected with a condemnation or orher taking of all or any
<br />part of the Property. Such proceeds shall be considered payments and will be applied as provided in this Sccurity
<br />Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreellJent or
<br />other lien document.
<br />19, INSURANCE. Trustor shall keep Property insLlred against loss by fire, flood, theft and other hazards and risks reasonably
<br />associated with the Propcrty due to its type and location. This insurance shall be maintained in the amounts and for the
<br />periods that Beneficiary requires. What Lender requires pursuant to the preccding sentence can change during the term of
<br />the joan. 'fh,: insurancc carrier providing the insurance shall bc cllOsen by Trustor subject to Beneficiary's approval, which
<br />shall not bc unreasonably withheld. If Trustor fails to maintain the covcrage described above, Beneficiary may, at
<br />Beneficiary's option, obtain covcrage to protect Beneficiary's rights in the Property according to the terms of this Security
<br />Instrumcnt.
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and,
<br />where applicable, "loss payee clause." Trustor shall immediately notify Beneficiary of cancellation or termination of the
<br />insurance. Beneficiary shal! have the right to hold the policies and renewals. If Beneficiary requires, Trustor shall
<br />immediately give 10 Beneficiary all receipts of paid premit1m-ttHoJ . >. otices. Upon loss, Trustor shall give
<br />immediate notice to the insurance carrier and Beneficiary. Bene 'i(l~t,ljt\~'~;YJ1ln, .~~e''Pt. ,10l made immediately by
<br />Trustor. , ,~'.J 'tfl,Sr...JH .
<br />1:,;;,;,,, .!.:.,RAl;. .~l-.:Oilil~tit'8 (page 3 of 4)
<br />Ex:'{JE-:;Fli.J;-; (r) 1 W.J4 Iiilllkers Systems, Inc" St. Cloud, MN Fot'rn nf-OT-NE 1/30/::!007 ~ .....a~:.~\...:
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