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<br />Financial Reports and Additionai Documeu�s. Trustor will provide to Beneficiary,upon request, any financial statement
<br />or information Beneficiary may deem reasonably necessary. Trustor agrees to srgn, deliver, and file any additional
<br />documents or certi�cations that Beneficiary may consider necessary to perfect, continue, attd preserve Trustor's obligations
<br />under this Security Instrument and Beneficiary's lien status on the Property.
<br />6. WARRAI�TTY OF TITLE. Trustor warrants that Trustor is or will be lawfully saized 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 gower of
<br />sale. Trustor also warrants that the Properry is unencumbered, except for encumbrances of recvrd.
<br />7. DITE ON SALE. Baneficiary may, at its option, declare the entire balance of the Secured Debt to be immediately due and
<br />payable upon We creation af, or contract for ttie creation of, a transfer or sale of the Property. This right is sub�ect to the
<br />restrictions unposed 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 />�aud. Any Consumer Borrower engages in fraud or material misrepresentation in connection with tlie Secured Debt that
<br />is an open end home equity plan.
<br />Payments. Any Consumer Bonower on any Secured Debt that is an open end home equity plan fails to make a payment
<br />when due.
<br />Property. Any action or inaction by the Borrower or Trustor occurs that adversely affects the Property or Beneficiary's
<br />rights in the Properly. This includes, but is not limited to, the following: (a) Trustor fails to maintain required insurance
<br />an the Property; (b) Trustor transfers the Property; (c) Trustor commits waste or otherwisa destructively uses or fails to
<br />maintain the Property such that the action or inaction adversely affects Beneficiarx's security; (d) Trustor fails to pay taxes
<br />on the Property or otherwise fails to act and thereby causes a hen to be filed agau�st the 1'roperty that is senior to the lien
<br />of this Secunty Tnstrument; (e) a sole Trustor dies; (� if more than one Trustor, any Trustor dies and Beneficiary's
<br />securiry is adverseIy affected; (g) the Property is taken through eminent domain; (h) a judgment is filed against Trustor and
<br />subjects Trustor and the Prope to action tfiat adversely affects Bene�iciary's interest; or (i) a pnor lienholder forecloses
<br />on the Property and as a result,�enaficiary's interest is adversely affected.
<br />Executive Of'Ficers. Any Bonower is an executive officer of Bene�iciary or an a�filiate and such Borrower becomes
<br />indebted to Beneficiary or another lender in an aggregate amount greater than the amount permitted under federal laws and
<br />regulations.
<br />9. REMEDIES ON DEFAIJLT. In addition to any other remedy available under the terms of this Security Instrument,
<br />Beneficiary may accelerate the Secured Debt and foreclose this Secunty Instrument in a manner provided by �aw 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 tune schedules for foreclosure actions, Each Tnxstor 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 Benefieiary, ail or any part of the agreed fees and charges, accrued interest and princip al shall become
<br />ixnmediately due aud payable, after giving 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 biddar for cash and convey absolute title free and clear of all right, title
<br />and mterest of Trustor at such time and place as Trustee designates. Trustee sha11 give notice of sale inclnding 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 shatl 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, shaIl �pay to
<br />Beneficiary all moneys advanced for repairs, ta�ces, insurance, liens, assessments attd prior encumbrances and interest
<br />thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may
<br />purchase tbe Properly. The recitals in any deed of conveyance shall be prima facie evidence of the facts set forth therein.
<br />The acceptance by Bene�iciary 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 constrtute 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 wasve Beneficiary's
<br />right to later consider the event a defauit if it happens again.
<br />10. EXPENSES; ADVANCE5 ON COVENAN'�S; ATTORNEYS' FEES; COLLECTION COSTS. If Trustor bxeaches
<br />any covenant in this Security Tnstnunent, Trustor agrees to pay all expenses Bene�iciary incurs in performing such
<br />covenants or protecting its security znterest in the Property. Such expenses mclude, but are not lunited to, fees incurred for
<br />inspecting, preserving, or otherwise protecting tlie Property and Beneficiary's security interest. These expenses are payable
<br />on demand and will bear interest from the date of payment unt�l paid in fu11 at the highest rate of interest in effect as
<br />provided in the terms of the 5ecured Debt. Trustor agrees to pay all costs and expenses incurred by Beneficiary in
<br />collecting, enforcing or protecti.ng Beneficiary's rights and remedies unQer this Security Tnstrument. This amount may
<br />include, but is not lunited to, Trustee's fees, court costs, and other le�al expenses. To the extent permitted by tha 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 Secunty Instrument sha11 remain in effect
<br />until released. Trustor agrees to pay for any recordatiott costs of such release.
<br />11. ENVIR�NMENTAL LAWS AND HAZARDOUS SIJ�STANCES. As used in this section, (1) Environmental Law
<br />means, without limitation, the Comprehensive Environrnental Response, Compensation and Liability Act (CERCLA, 42
<br />U.S.C, 9601 et seq.), and all other federal, state and local laws, regulanons, ordinances, court orders, attorney general
<br />opinions or interpretive letters conceming the public health, safety, welfare, environment or a hazardous substance; and (2)
<br />Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has
<br />characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br />environment. T'he term includes, without limitation, any substances defined as "hazardous material," "toxic substancas,"
<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 restriction does not apply to small quantities of Hazardous
<br />Substances that are generally recognized to be ap ropriate for the normal use and maintenance of the Property.
<br />B. Except as previously disclosed and acknowledg� in writin� to Beneficiary, Trustor and every tenant have been, are,
<br />and shall remain in full compliance with any applicable Environmental Law.
<br />C. Trustor shall imtnediataly notify Beneficiary rf a release ox 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 ail necessary remedial action in accordance with any Environmental Law.
<br />� O 7994 Bankars Systems. Ina, St. Cloud, MN Form OCP-REDT-NE 1/31/2003
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<br />(page 3 nf 4J
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