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<br />°" ~ s ~: 200909321
<br />Financial Reports and Additional Documents. Trustor will provide. to Beneficiary upon request, any financial statement
<br />or inforinatiort Beneficiary may deem reasonably necessary. Trustor agree! to srgrr, 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 hen status on the Property.
<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, wnh power of
<br />sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record.
<br />7. DUE ON SALE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be immediately due and
<br />payable upon the creation of, or contract For tltc creation of, a transfer or sale of all or any part of the Property. This right
<br />rs subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable.
<br />8. DEFAULT. Trustor will be in default if any of the following occur:
<br />Fraud. Auy Consumer Borrower engages in fraud or material misrepresentation in connection with the Secured Debt that
<br />is an open end home equity plan.
<br />Payments. Any Consumer Borrower on any Secured Debt that is an open end home equity plan fails to make a payment
<br />when due.
<br />Property. Art 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 nr fails to
<br />maintain the Property such that the action or inactton adversely affects Beneficiary's security; (d) Trustor fails to pay taxes
<br />ou the Property or otherwise fails to act and thereby causes a hen to be filed against the Pro arty that is senior to the lieu
<br />of this Security Instrument; (e) a sole Trustor dies; (f) if more than one Trustor, any Tprustor 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 liettholder forecloses
<br />on the Property and as a result, Beneficiary's interest is adversely affected.
<br />Executive Officers. Any Borrower is an executive officer of Beneficiary or an affiliate and such Borrower becomes
<br />indebted to Beneficiary or another leader in an aggregate amount greater than the amount permitted under federal laws and
<br />regulations.
<br />9. REMEDIES ON DEFAULT. In addition to any outer remedy available under the tenors of this Security IrLStrurnent,
<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 notrce
<br />of default and any notice of sale thereunder be mailed to each Trustor at the address provided in Section 1 above.
<br />At the option of the Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall become
<br />mmediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime
<br />thereafter.
<br />If tltere is a default, Trustee shall, at the request of the Beneficiary, advertise and sell the Property as a wltolc or in
<br />separate parcels at public auction to the highest bidder_ for cash and convey absolute title free and clear of all r ht, title
<br />and interest of Trustor at such time and place as Trustee designates. Trustee shall give notice of sale including ,the Buie,
<br />teens and place of sale and a description of the property to be sold as required by the applicable law in effect at the tune of
<br />the proposed sale.
<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 interest
<br />thereon, acid 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.
<br />The acceptance by Beneficiary of any sum in pa reset or partial payment on the Secured Debt after the balance is due or is
<br />accelerated or after foreclosure proceedings arc filed shall trot constitute a waiver of Beneficiary's right to require complete
<br />cure of any existing default. By not exercising any remedy on Truster's default, Beneficiary does not waive Beneficiary's
<br />right to later consider the event a default if it happetts again.
<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 include, but are not limited to, fees incurred for
<br />inspecting, preservittg, or otherwise protecting the Property and Beneficiary's security interest. These expenses are ~ayable
<br />on derttand and will bear interest from the date of payment until paid in full at the highest rate of interest in a feet as
<br />provided in the terms of the Secured Debt. Trustor agrees to pay all costs and expenses incurred b Beneficiary in
<br />collecting, enforcing or protecting Beneficiary's rights and remedies under this Security Instnunent. This anriount iatay
<br />include, but is not !united to, Trustee's fees, court costs, and other legal expenses. To the extent pcrtnitted 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 ~urisdictiou under the Batkruptcy Code. This Security Instrument shall remain in effect
<br />until released. Trustor agrees to pay for any recordation costs of such release.
<br />- -._._ __ 11. ENYiRONMENTAL _LAW~ AND..-HAZARnnIiS_ ~is~.-asust~iet~-~l~it~einnetztal-La~+-- - --
<br />means, without limitation, the Comprehensive Envrronrnental Response, Compensation and Liabi ity 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 />1aazardous Substance means any toxic, radioactive or hazardous material, waste, ppollutant 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.
<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 restrtctivn does..not-.apply to_small. quantities of Hazardous
<br />Substances that are generally recognized to be appropriate for the normal use and matntenance of the Property.
<br />B. F.,xcept as previously disclosed and acknowledged rn writing to Beneficiary, Trustor and every tenant have been, are,
<br />and shall retrain in full compliance with any applicable Environmental Law. -
<br />C. Trustor shall immediately notify Beneficiary rf a release or thrddtdtted reld~st' of'aC Ha7.ardr~tts 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 Environtttental Law.
<br />(page 3 of 4J
<br />,~/ ©1994 Bankers Systems, Inc., 3t. Cloud, MN Farm OCP-REDT•NE 5!1012005 ,~,,~
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