|
`� . ' ' � ,� . . •. • . . . . :. . . . ( . (. — —_ — __ -^tltiL V. I. . .... �
<br /> [ � �.
<br /> - •v '
<br /> ' ' . a��:, l. ' . ` �..�� ' ' �:��. ..Y4n.
<br /> ` t ."
<br /> � �(`.E'�t —_
<br /> � _ `.T,�.."�lY G�~`.+aI�2.` _.
<br /> 'C" _ -_
<br /> _ __—_=���aTS� - -
<br />.- - 'y�.. ..�.�.: _.:.
<br /> �� . . . .i _c .
<br />.. . _� ,...,,,,�y:4�_„
<br />� J ' • ����!�M1/ �' - ' � P�,.•- . :r-`..
<br /> 'i.�+� '�, �.[•'��.
<br /> � �c. '.., :' , ,4F�.:
<br /> � executed for thc purpase of creating,securing or guarantying the Secured Debt A good faith b�fief by L.ender that �,�:i�;�:,,':�,`�. .,�` !M`
<br /> L,ender at any time is insecurc with r�spect to any person or entity obligated on the Secured Debt or that the prosxsect • , .• �:.
<br />' ��t,�;,,, of any pay�ent or the ralue of the Property is impaired shr�ll aLso canstitute an event of deffauIt. '���� `�. < �: �� :���
<br /> ° fi5. RE1t�IDIE�ON DEFAULT.In s�rme instances.federal and state latv will require Lender to�rovide Graiator with - ��'='�"r;b 5��;;.��:ss'
<br /> notice oF the right to cure or other notices and may estabtish time schedules for forcctosure aztions.Su6ject ta these ;:•�;�,,.�.�;:��,MX;.<<
<br /> , _ limitations, if any. Lender may accelerate the Secured YJebt aud fareclose this Security Instrument in a manner � _ '��'�r
<br /> . , .' � •..,,#,;.��-.
<br /> � , provided by!aw if Grantor is in defaul� -,1,,`_;,,.,r„�,.r,-,;_�,�;
<br /> At the option of Lender,all or any part ot the agreed fees and charges,accrued interest and prindpal shall become — .. x�:.-
<br /> -�"��, immediately due and payabte.aftcr giving notic�if req�ir:d by law, upon the occurrence af a default or anytime _ ___ -
<br /> r� � � ihereafter.In adtition,Lender shall be endtled to aU the remedies provided by law,the terms of the Secured Debt. ' � '� ;•_
<br /> this Seeurity Instnunent and any related documents.inciuding�ithout limitaiion,tbe power to seU the Property. ����""^" �`'�''�:�..
<br /> If there is a default,Trustee shall,in additiost to any other permitted remedy,at the mquest of the Lender,advertise .. . , ����<��•;<;:>;
<br /> ' ; .� .. . .�...:_:-
<br /> and sell[he Pro e as a whole or in s arate arcels at ub6c auc�tion to the lighest didder for casb and convey -•----- --�--z=±=
<br /> - F rtY eP F_ P �:��;-�==
<br /> absolute title free and dear of all right,title and mterest of Grantor at such time and place as Trustee drsignates. �;��,��1,
<br /> asi
<br /> Tntstee shall give norice of saie inctudiag ihe time,ter�s and place of sale and a description of the property to be sotd �• � -=_�_-
<br /> t. --—
<br /> " as required by t�e applicab2e law in effeci at the time of eL�e prnposed sate. - :----� _
<br /> Upon sale of t�e praperty and to the exteat Rot prohibited by law,Tnutee shaD make and deliver a deed to the Property ��?+r�_"
<br /> sotd wIuch oonveys absolute title to t�e purchaser,and after f u s t paying a i l fees,c harges an d c o s t s,s hall pa y to Lender all =�s��'
<br /> � '•';£ moneys advanced for repaus,taxes,insurane�,liens,asxessznenu and prior encumbrances and interest tflereon,and the ��°�=_��,
<br /> ;�, principal azcd interest on the Secured Debt,paying tre sur�lus.if any,to Grantor.Lender may purchase the Property. ��;-=;'w�=-
<br /> . "'�'?' ' Tlte recitats in any deed of oonveyance shall be prima facie evidence of the facts set forth therein. :��-.
<br /> " • p}�re����distinct,cumulative and aot exciusive,and the Lender is entided to all remedies pravided at law or = ---_- -
<br /> �. •: eqerity,whether or not expressly set forth.The acceptance by Lender of asty sum in payment or psttial paymenE on the •�= •°___^— -• :.-.y.�,—�
<br /> 'r,?�,;,� Secured Debt after the baL3n�ae is due or is accelerat:d os after foreda�prooeedin�s are filed shall no!can�titute a -''. .• �•.�� .�-
<br /> waiver��f Lender's right t�require complete cure of any c�risUng dsfau:i.By not exercising any remedy on Gcantor s �;�41;;�;��.3 `M1
<br /> deLwic,Leuder d�es no2 wpive Lender s ri t to tater cars�.+fer the e�•ccs a de€atilt if it continues ortsa�pens°�.�. �"�`�'�,;�v�;%��'.�,,.�:;••
<br /> : .:�;. � �°..� ._,... .
<br /> •:�:, s�� II6. EXPENSES;AD�IANCES ON COVENANTS;AT�YJI�PTEYS`L��S;COLLECi'�ON Cfl}�IfS.Excegt when r�=t�.�.r�-:_`--`-`:'
<br /> � ���--�-
<br /> � prohiibited by[aw.Graator agrees to�ay all of Lender's expenses if Grantor breaches any caveuan3 in this Searrity ---:=:
<br />` ` « ' Insuument.Graniov wil2 also pay on dematfd any amount incurred by Lender for i�c�ring,�sp¢cting,pteserving ar ' `"�� ���'„
<br /> ``" ' otAerarise protecting the Pr�p�.:ety and I.ender s security interest.These expenses w�71 bear mterest from the date of
<br />., , ..
<br /> ,.`' "`� • the payment until paid in fulf�r the highest interest rate in effect as prowded in the tenns of tbe Secured Debi. . �.��'y. �_
<br /> ��: :
<br /> '' Grantor agrees tn pay a l l costs an d exp�nses incurre d by L.en der i n c o l t e c t i n g,e n f o r c i n g o r p r o t e c t i n g L e n d e r'9 ri g 6 t s �` �t�. °:.';_.
<br /> '' ' aad remedies wnier this Security Instrum�z�t.This amount may iuclude,but is not timited to,�tuzrneys'fees,court "``' �`''
<br /> �._,::.-1.;.r;;..
<br /> - � costs,and athe��ysl expenses.This Security Instrument shaIl remain in effect uatil released.�'cr�,�tor agrees to pay •�.� .
<br /> . far xny recor�.iii�n costs of such release. ������ .
<br /> 17. Q�'IIRO1oiIYlE�AI.LA�S AND HAZARDOUS S15�ANCES.As used in this section,(1)Ea�:ron�er.x�l Law •. ' �
<br /> �. means,withaut iiatitation,the Compreheasive Environrac:.tal Resportse,Campensation and Liab�:�ty Acx(�-�I-A. � � t��. ,i.: •�
<br /> I !
<br /> �.:.:
<br /> � � 42 U.S.G 4501 et seq.),and all other fedesal.state and local laws,cagulations,ordinances, a�:ut o•rder�, :.'sorney �: •:;r_
<br /> � general opinions or interpretive lettets concerning the public health.safety.welfare,enviro��ct or a hazardous ���"�.;;,;,�+��_;
<br /> substance;and(2)Hazardaus Substance means any tomc,radioactive or hazardous�aterial.waste,pollutant or ..,,: ,: ,:
<br /> ppntamin nt which t�as charaderistics whicb render the substance dangerous or p�rentially dangerons to t��pu6lic � ...,;..
<br /> ..n:,+�.{ �1-''.,: ''_ �
<br /> � • health,safety.welfare or envin:nment.'Ihe term includes,withflut iimitation,any substances de5ned as"6;s•,�rdous ,,.kA<,s;?,' �c��,<I-.�-..4�
<br /> material,""toxic substaaces;'"aazardovswaste"or"hazardoas substance"under any Environmental Law. •":��'' ••-� -
<br /> � ....,:s�,�.
<br /> Grantor 7epresents,wamants and agrees th.t: - -' �'��-' �-`°
<br /> A. Except as previovsly disclosed and acknowledgeai in writing to Lender,no Hazardous Substance is or will be - •' ,�;;.;_.
<br /> located.siored or released on or in the Propesty.This restriction does not appty 3o smali quantides of • ��____�'_�_._-
<br /> _ Hazardous Substances that are generalJy recognized to be appropriate for the normal use and maiaienaace of
<br /> ' the Property. �..�z :t.:.� �
<br /> r „�n t .
<br /> . B. Except ss previoasly disclosed and ackt�owledged in writing to�ender.Grantor and every tenant have been.are, r„e„�.�,�;:r
<br /> and shaU remcin in full com liance with any applicabte Environmental Law. �rw�ts§i��'�'
<br /> ..: p
<br /> :�,�,. ,� C. Grantor shall immediatety notify Lender if a release or threatened release of a Ha�ardous Substance occurs on, -7--:•�.
<br />"�''•° ' � under or about the Property or there is a viotation of any Environmenta112w conceming the Property.in such
<br />:u;p,ni�. �»:::. „�_. .
<br /> an event,Grantor sssL4 take all necessary remedial action m accordance witlt�ay Environmental Law. •'"`�T
<br />';,;W:, ; :_..,�:�'.—
<br /> D. Grantar s�all immcdiatety notify Lender in writing as soon as Grantor has reasor� u�believe there is any : .
<br /> percd'vi��r, threatened investigation.claim,or praceeding relating to the release or tP.��:::�^ened retease of any !���`�'"�""""`"� `-
<br />�, , Hazar��7k+,�s Substance or the violation of any Env�ronmental Law. ---=''�"���':
<br /> '.`� ]& CPI�DEN�IA'IYON.Grantor will give Lender prompt notice of any pendin�or threatened actian.by private or �'��� ����'
<br /> .,,;`_ �,.,��.�..�_-- -
<br /> �t:l:c ers�t�Ws to purchase or take any or all of the Property through oondemaarion,eminent domain,or any other -- �._
<br /> �,�i`,:� � �� rct,e�.Gr.'.nt�:��.uthorizes Lender to intervene in Grantor s name in any of the above descrE:�ed actions ar claims. -',�°,�,.
<br /> ' f�t�•,.;,t;�,r as�i�m,�'�Lender the proceeds of any award or claim for damages co�ected wittz a avc�temnation or other � ; '-
<br /> taFlie;of a!I ar z��part of the Property.Sw:.i�proceeds shall be considered payments and w�l!b�.::,;r��.ied as provided in ?�;:� _....,..�,±.�a,`
<br /> ;�;;J�;; •• tlsi��ecurity��:.�ment.This assignmect of proceeds is subject to the terms of any prior r��gage,deed of trust, �' y�•.•��ti.>�:"
<br /> `"= s�:w�rity agree�c:nt or ott�:r licr do¢ament. - t�i ";��• •
<br />�j,,,•>
<br />• 19 L'�StJItA1V�.f's�anior s'.YaL•l�eep Preperty insured against loss by fire.flood,�:R:�:�t and other ha�ards and risks �.��l;tt`."'�` _
<br /> � • reasoaably asya:iated with the Propertp��ub:to its type and location.This insurana:�:�a l�t se mai���aia e d in t he amoun ts yi ��� ..;;_
<br /> �a
<br /> . and for the per.n�s that Lender requir•:w"C'he insurance carrier providing the insurance sh,311��t�chosen by Grantor �• s":�.•-��
<br /> f ranio fails t.��:aintain the covera e �u,=i.:-
<br /> subject to I.ender's approval,which shalt not bc unreasonabIy w�thheld. I G r g
<br /> , described above,Lender may,at Lender's aption,abtain coverage to protect Lender's rights in t3e Property acoording � �i�-s�z;�;
<br /> • uy the tertns of this Security lnstrument. ��- •r �
<br /> �� All insurance policies and renewals sha(1 be acceptable io Lender and shall include a standard"rnortgage clasr�e"and. ='��'�"�'�`°
<br /> � where applicable."loss payee clause:' Grantor shall immediately notify I.ender of cartcellati���� or termination of the : ""'."."�"'
<br /> � insurance.Lender shall have the ri t to h�ld the olicies and renewals.If Lender re uires.G:...•,tor shall immediatel '°•t�•" • -
<br /> . � P 9 y .:...�..�,,..,=
<br /> �ve to Lertder aU receipts of paid premiums and renewal notices.UPon toss.Grantor shall give unmediate notice to -� • • -�• • -
<br /> _ '-'.•.f .'�Y'—`_.-
<br /> � ' the insurartce camer and Lender.Lender may make proaf of loss if not made imr.�ediately by Grantor. •>:��°��•T
<br /> ;• ;'�(��°; . .
<br /> . , � . -
<br /> . �.;,w . . _
<br /> (na.w�M4J •" �' � '
<br /> O 193f B�'.R^.A Systems.trc.SI C1aW.MN lt�80p397•2301)Ftrn RE•DT•NE BlBl94 ' ,- -
<br /> _ . . . t ' .
<br /> .. _ "' . '.. . �. .. , .. - ' � .. � . � . . . .� ' _ . . _ . . • . .. . . � .
<br /> - ,�r Ep. _ � .. , . � � ` . , _ . . . 'v _ � . - _ . - . • _ . _ ., _ . . . 5 � - W - .
<br />
|