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<br />Financial Reports and Additional Dceumeats. Trustor will provide to Beneficiary upon request, any financial statement
<br />or information Beneficiary ma deem reasonably necessary. Trustor agrees to sign, del�ver, 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 Beneficiaty's lien 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, with 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 the creation of, a transfer or sale of all or any part of the Property. This right
<br />is subject to the restrictions imposed by federal law (12 C.F.R. 591), as appiicable.
<br />8. DEFAULT. Trustor will be in default if any of the following occur:
<br />Fraud. Any Consumer Borrower engages in fraud or material misrepresentation in connection with the Secured Debt that
<br />is an open eud home equity plan.
<br />Payments. Any Consumer Borrower o�p any SeFUred Debt,t�iat is an opep end home equity.plan fails to make a payment
<br />� when due. , :. : . : _
<br />Property. Any action or inaction by the $orrower or Trustor occurs that adversely affects the Property or Bene�ciary's
<br />rights in the Property. This includes, but is not limited to, the foltowing: (a) Trustor fails to maintam required insurance
<br />on the Property; (b) Trustor transfers the Properly; (c) Trustor commits waste or otherwise destructively uses or fails to
<br />maintain the 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 against the Property that is senior to the iien
<br />of this Security Instrument; (e) a sole Trustor dies; (� if more than one Trustor, any Trustor dies and Beneficiary's
<br />security is adversety 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 forectoses
<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 lender in an aggregate amount greater than the amount pertnitted under federal laws and
<br />regulations.
<br />9. REMEDIES ON DEFAULT. In addition to any other remedy available uuder the terms of this Security Instrument,
<br />Beneficiary may accelerate the Secured Debt and foreciose this Security Instrument in a manner provided by law if Trustor
<br />is in defautt, 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 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 />immediatety due and payable, after givmg notice if required by law, upon the occurrence of a default or anytime
<br />thereafter.
<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 parcels at public auction to the highest bidder for cash and convey absolute title free and clear of all right, title
<br />and interest of Trustor at such time and place as Trustee designates. Trustee shall give notice of sale including 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.
<br />Upon sale of the Property and to the extent not prohibited by law, Trustee shall make and deliver a deed to the Properly
<br />sold which conveys absolute title to the purc�aser, 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 prmcipal 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 pruna facie evidence of the facts set forth therein.
<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.
<br />10. EXPENSES; ADVANCES ON COVENANI'S; 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, enforcing or protecting Beneficiary's rights and remedies under this Securtty Instrument. This amount may
<br />include, but is not lunited to, Trustee's fees, court costs, and other lepal expenses. To the extent pertnitted 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 �urisdiction under the Bankruptcy Code. This Security Instrument shall remain in effect
<br />until released. Trustor agrees to pay for any recordation costs of such release.
<br />11. ENV�RONMENTAL LAWS AlyD HAZARDQUS, SUBS�ANCES. As used :in this .ser.tinn, -.�1} F�uv�ou�ne�tal Lavu
<br />means, without limitation, [lie 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, poIlutant 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.,.�aardaus.�ubstzuce-. is or will be
<br />located, stored or released on or in the Property. This restriction does not apply to smal[ c�uantities of Hazardous
<br />Substances that are generally recognized to be appro�riate for the norm�1 use and maEntenancfe of the Property.
<br />B. Except as previously disclosed and acknowledged m writing to Beneficiary, Tcu§tor and eVery���tenant h�ve been, are,
<br />and shall remain in full compliance with any applicable Environmental Law. " ' "
<br />C. Trustor sl�all immediately notify Beneficiary �f a release or threatened release of a Hazardous 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 Enviroumental Law.
<br />/ �� rs'.^ /Page 3 of 41
<br />�I �O 1994 Bankers Systems, Inc., St. Cloud, MN Form OCP-REDT-NE 5/10/2005 /
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