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<br />2011032�2
<br />Secured 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 are due on demand and wi(I bear interest from the time of the advance at the
<br />highest rate in effect, from time to time, as provided in the Evidence of Debt and as permitted by law.
<br />19. ENVIRONMENTAL GAWS AND HAZARDOUS SUBSTANCES. As used in this section,'(1) "Envi[onmental,Law" means,
<br />' Iimitartiot�; the Comprehensive:Environmental Response;, Compensation and Liability..Act;:LCERCLA; 42' U.S,C.
<br />9601'' ef•seq.);' all otherfederal, state and local �aws�,'regulations; ord'mahces; couri orders;:-attovney��general:opinions or
<br />' '���=int�Srpr�tive' letter�s- cane�riting public he�lt#��, safety' �welfare; 'en.v'rrbrtment� or ;�ubs#anee;;�and (2)
<br />��' ' riteans' �ny tox�c; radioac�ive'�or h'aza,rdcsus material;��was,te pollutant or.;contaminar�i which
<br />• ' fias Characteristics whi�h� render the subsfia�tce� dangeroys or poten#ially' dangecous to the pub�ic Mealth, safety, welfare
<br />• -or 'environm�nt;�� The''terrti`' includes;� Withcsut� lir�titation, �any� substances�: defined � as�r "hazardous : materiah;" "toxic
<br />°,"'substances," "hazardous' was'te" or ' hazardous sabstance°'- under,:. any Environmental Law. Trustor,.:tepresents,
<br />' warrants and agrees tha�;'except as previously disclosed and acknowledged in writing:
<br />A. No Hazardous Substance has been, is, or will be located, transported, manufactured, treated, refined, or handled
<br />by any person on, under or aboufi the Property, except in the ordinary course of business and in strict
<br />compliance with all appticable Environmental Law.
<br />B. Trustor has not and will not �ause, contribute to, or permit the release of any Hazardous Substance on the
<br />Property,
<br />C. Trustor will immediately notify Beneficiary if (1) a release or ihreatened release of Hazardous Substance occurs
<br />on, under or about the Property or migrates or threatens to migrate from nearby property; or (2) there 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 Environmental Law. `
<br />D. Trustor has no kriawledge of dr reason to believe ther� is any pending or. threate.ned inV�stigation, claim, or
<br />proceeding of any kind relating to (1) any Hazardous Substance loc�ted on, 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 beli�ve there is any such pending or threatened investigation, claim, or
<br />proceeding. In such an event, Beneficiary has the right, but not the o6ligation, to participate in any such
<br />proceeding incfuding the right to receive copies of any documents relating to such proceedings.
<br />E. Trustor and every tenant have been, are and shall remain in full compliance with .any applicable Environmental
<br />Law.
<br />F. There are no underground storage tanks, private dumps or open wells Jocated 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; mor�itor the actiyities and operations on the Property, and confirm
<br />that all permits,' licenses or approVals required by;.any applicable Environmental Law are obfiained and complied
<br />with. . . _ , . >
<br />H. Trustor will permit, or cause any tenant to permit, Beneficiary or Seneficiary's �agen't to enter and inspect the
<br />P�oper .ty and review all records :at any. reasona6le time,,to deteemine (1) the existence, location and nature of :any
<br />� � "Hazardous .SUbstance on, under; or aboufi fihe Pr.oparty; (2) the sxistence; (ocation, na�u[e and rnagnitude of any
<br />� '- . Hazardous Substance that ha§ been reteased .o�;_ur�der.•or about:the'Propeety;:•or.431 whether;or;not Trustor and
<br />any tenant are in compliance with applicable Environmental :Law; -' '
<br />I. Upon Beneficiary's request and at any time, Trustor agrees, at 7rustor's expense, to engage a qualified
<br />environmental engineer to prepare an environmental audit of the Property and to submit the results of such audit
<br />to Beneficiary. The choice of the environmental engineer who will perform such audit is subject to Beneficiary's
<br />approval.
<br />J. Beneficiary has the right, but not the obligation, to perform any of Trustor's obligations under this section at
<br />Trustor's expense.
<br />K. As a consequence of any 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 costs of litigation and attorneys' fees, which Beneficiary and Beneficiary's
<br />successors or assigns may sustain; and (2) at Beneficiary's discre#ion, Beneficiary may release this Deed of
<br />7rust and in return Trustor will provide Beneficiary with collateral of at least equal vaiue to the Property secured
<br />by this Deed of Trust without prejudice to any of Beneficiary's rights under this Deed of Trust.
<br />L. Notwithstanding any of the Panguage contained in tHis Deed of Trust to the contrary, the terms of this section
<br />shall survive 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 aU of the Property. Any claims and defenses to the
<br />contrary are hereby waived.
<br />20. CONDEMNATION. Trustor will give Beneficiary prompt natice of any action, real or threatened, by private or public
<br />entities to 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 of 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 or 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 from the action or claim. Trustor assigns to Beneficiary
<br />` the proceeds of any award or c.laim for damages c,onnected with a condemnatio,n or other taking, of all ,or a�y part of
<br />the Property, Such proceeds shall be considered payments and will be applied as provicJed in this, Deed of„Trust. This
<br />assignment of proceeds is subject to the terms of any prior security agreement.
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<br />;..21 �,.WSURANCE::Tc�stor agr,ees�to.maintain insurance as f.ollows.; : � , ; r + �, ;. , -� , •-
<br />�: A. Trustor. shall , k.e.ep the RFOper�y, insured -against loss by fire, theft, and-,�other hazards, ..and ; ri$ks reasonably
<br />�..,., assac.iated with;,the Propecty due :to its type and,location. Other hazards and 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 senfences can
<br />change during the term of the Secured Debt. The insurance carrier providing the insurance shall be chosen by
<br />��/2/" (Pag � 81
<br />�°" OO 1993, 2001 Bankers Systems, Inc., St. Cloud, MN Form AGCO-RESI-NE 1/17/2003
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