|
-��� 201140133
<br />5ecured Debt is fully and finally paid, Beneficiary agrees to release this Deed of Trust and Trustor agrees to pay for
<br />any recordation costs, All such amounts sre due on demand and will bear interest from the time of the advance at the
<br />highest rate in effect, from time to time, as provided in the Evidence vf bebt and as permitted by law.
<br />19. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1 �"Environmental Law" means,
<br />without limitation, the Comprehensive �nviranmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C.
<br />9601 et seq.l, all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or
<br />interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2)
<br />"Hazardous Substance" means any toxic, radiaactive or hazardnus material, waste, pollutant or contaminant which
<br />has characteristics which render the substance dangerous or potentially dangerous ta the public health, safety, welfare
<br />or environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic
<br />substances," "hazardous waste" or "hazardous substance" under any Environmental Law. Trustar reprssents,
<br />warrants and agrees that, except as previously disclosed and acknowledged in writing:
<br />A. No hiazardous Substance has been, is, ar will be Iocated, transported, manufactured, treated, refined, ar handled
<br />by any person an, under or abaut the Property, except in the ordinary course of business and in strict
<br />compliance with all applicable Environmental Law.
<br />B, Trustor has not and will not cause, contribute tv, nr permit the release of any Hazardous Substance on the
<br />Property.
<br />C. Trustor w�ll immediately notify Beneficiary if (1) a release or threatened release vf Hazardous Substance occurs
<br />on, under or about the Praperty or migrates or threatens ta migrate from nearby property; or (2) thera is a
<br />violation of any Environmental Law concerning the Property. In such an event, 'Trustor will take all necessary
<br />remedial action in accordance with Environmentel Law.
<br />-_ - -�'��r' or ra8sz��r beti�re ihere ts any perrding ar threatened investigation, cfaim, or
<br />proceeding of any kind relating to (1) any Hazardous 5ubstance located an, under or about the Property; or (2)
<br />any violation by Trustor or any tenant of any Environmental Law. Trustor will immediately notify Beneficiary in
<br />writing as soon as Trustor has reason to be►ieve there is any such pending or threatened investigation, claim, or
<br />proceeding. In such an event, Beneficiary has the right, but not the obligation, to participate in any such
<br />praceeding including the right to receive copies of any documents relating to such proceedings.
<br />E, Trustar and every tsnant have been, are and shall remain in full compliance with any applicable Environmental
<br />Law.
<br />F. There are no undergraund stnrage tanks, private dumps ar open wells located on or under the Property and no
<br />such tank, dump or well will be added unless Beneficiary first consents in writing.
<br />G. Trustor will regularly inspect the Property, monitor the activities and operations on the Property, and confirm
<br />that all permits, licenses or appravals required by any applicable Environmental Law are obtained and complied
<br />with.
<br />H. Trustor will permit, or cause any tenant to permit, Beneficiary or Beneficiary's agent to enter and inspect the
<br />Property and review all records at any reasonable time to determine (1 � the existence, location and nature of any
<br />Mazardous Substance on, under ar about the Property; (2) the existenca, location, nature, and magnitude of any
<br />Hazardous Substance that hes been released on, under vr about the Property; or �3) whether or nat Trustor and
<br />any tenant are in compliance with applicable Enviranmental Law.
<br />I. Upon Beneficiary's request and at any time, Trustor agrees, at Trustor's expense, ta engage a qualified
<br />environmental engineer to prepare an environmental audit of the Property and to submit the results af such audit
<br />to Beneficiary. The choice of the envirvnmental engineer who will perform such audit is subject to Beneficiary's
<br />approval.
<br />J. Beneficiary has the right, but not the obligation, ta perform any of Trustor's abligations under this section at
<br />Trustor's expense.
<br />K. As a consequence of eny breach of any representation, warranty or promise made in this section, (1) Trustor
<br />will indemnify and hold Beneficiary and Beneficiary's successors or assigns harmless from and against all losses,
<br />claims, demands, liabilities, damages, cleanup, response and remediation costs, penalties and expenses,
<br />including without limitation all casts of litigatian and attorneys' fees, which Beneficiary and Beneficiary's
<br />successors or assigns may sustain; and (2) at Beneficiary's discretion, Beneficiary may release this Deed of
<br />Trust and in return Trustar will provide Beneficisry with collateral of at least equal value to the Property secured
<br />by this Deed o�F Trust without prejudics to any of Beneficiary's rights under this Deed of Trust.
<br />L. Notwithstanding any of the language contained in this Deed of Trust to the contrary, the terms of this section
<br />shall surviva any foreclosure or satisfaction of this Deed of Trust regardless of any passage of title to
<br />Beneficiary or any disposition by Beneficiary of any or all of the Property. Any claims and defenses to the
<br />contrary are hereby waived. •
<br />2Q. CONOEMNATION. Trustor will give Beneficiary prompt notice of any action, real or threatened, by private or public
<br />entities ta purchase or take any or all of the Property, including any easements, through condemnation, eminent
<br />domain, or any other means. Trustor further agrees to notify Beneficiary af any proceedings instituted for the
<br />establishment of any sewer, water, conservation, ditch, drainage, or other district relating to or binding upon the
<br />Property ar any part of it. Trustor authorizes Beneficiary to intervene in Trustor's name in any of the above described
<br />actions or claims and to collect and receive all sums resulting fram the action or claim. Trustor assigns to Beneficiary
<br />the proceeds of sny award or claim for damages connected with a condemnation or other taking of all or any part of
<br />the Property. Such procesds shall be considered payments and will be applied as provided in this Deed of Trust. This
<br />assignment of proceeds is subject to the terms of any prior security agreement.
<br />21. 1�15URANC�, Trustor agrees to maintain insurance as follows:
<br />A. Trustor shall keep the Property insured against loss by fire, theft and other hazards and risks reasonak�ly
<br />associated with the Prdperty due to its type and location. �ther hazards and risks may include, for example,
<br />coverage against loss due to floods or flooding. This insurance shall be maintained in the amounts and for the
<br />periods that Beneficiary requires. What Beneficiary requires pursuant to the preceding three sentences can
<br />change during the term of the 5ecured Debt. The insurance carrier providing the insurance shall be chosen by
<br />� � 1993, 2001 Bankers Systoma, Inc., St. Cloud, MN Farm AGCO-RE5I-NE 1/17/2003
<br />'' � .��4�C�-C. In��B b er s�
<br />
|