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<br />�nancial Reports and Additional Documents. Trustor will provide to Beneficiary, upon request, any financial statement
<br />or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any additional
<br />dacuments or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Trustor's obligations
<br />under this Security Instrument and Beneficiary's lien status on the Property.
<br />6. WARRANTY OF TITLE. Trustor warrants that Trustar is or will be lawfully seized of the estate conveyed by this
<br />Security Instrument and has the right to inevocably grant, convey, and sell the Properiy to Trustee, in trust, with power of
<br />sale. Trustor also warrants that the Praperty is unencumbered, except for encumbrances of record.
<br />7. DiTE 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 the Property. This right is sub�ect ta the
<br />restnctions imposed 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 />Fraud. Any Consumer Borrower engages in fraud or material misrepresentation in connection with the 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 Bonower or Trustor occurs that adversely affects the Property or Beneficiary's
<br />rights in the Property. This includes, but is not limited to, the following: (a) Trustar fails to maintain requued insurance
<br />on the Property; (b) Trustor transfers the Property; (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 agarnst the Property that is senior to the lien
<br />of this Secunty Instrument; (e) a sole Trustor dies; (fj if more than one Trustor, any Trustor dies and Beneficiary's
<br />security is adversely affected; (g) the Property is taken thraugh 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 pnor lienholder forecloses
<br />on the Property and as a result, Beneficiary's interest is adversely affected.
<br />Executive Of�cers. Any Bonower 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 permitted under federal laws and
<br />regulations,
<br />9. REMEDIES ON DEFAUI.T. 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 Iaw 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 time schedules for foreclosure actions. 8ach Trustar 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 />immediately due and payable, after givmg notice if required by law, upon the occunence of a default ,or anytime
<br />thereafter,
<br />If there is a default, Trustee shall, at the request of the Bene�ciary, advertise and sell the Property as a whole or in
<br />separate parcels at public auction to the highest bidder for cash and canvey absolute title free and .clear of all right, title
<br />and interest vf Trustor at such time and place as Trustee designates. Trustee shall give notice of saie including the time,
<br />terms and place of sale and a description of the property ta 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 Property
<br />sold which conveys absolute title to the , purchaser, and after �rst paying all fees, chazges and costs, sha11 ,pay to
<br />Beneficiary all moneys advanced for repairs, taxes, insurance, liens, assessments and 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 the Property. The recitals in any deed of conveyance shall be prima facie evidence of the facts set farth 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 fareclosure proceedings are filed shall not constitute a waiver of Bene�ciary '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 COVENANTS; ATTORNEYS' FEES; COLLECTION CO5TS. If Trustor breaches
<br />any covenant in this Security Instrument, Trustor agrees to pay all ex�enses Bene�ciary incurs in performing such
<br />covenants or protecting its secunty interest in the Property. Such expenses include, but are not limited to, fees mcuned 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 incuned by Beneficiary in
<br />collecting, enforcing or protecting Beneficiary's rights and remedies under this Security Instrument. This amount may
<br />include, but is not limited to, Trustee's fees, court costs, and other legal expenses. To the extent permitted by the United
<br />States Bankruptcy Code, Trustar agrees to pay the reasonable attorneys fees Bene�ciary incurs to collect the Secured Debt
<br />as awazded by any court exercising �urisdiction under the Bankruptcy Code. 1'his Secunty Instrument shall remain in effect
<br />until released Trustor agrees to pay for any recordation costs of such release.
<br />1L ENYIR�NMENTAL LAyVS AND HAZARDOUS �IJB�TANC�SF As used in.this section,-.(1}: Environmental Law
<br />irieans, withou� linuCation; the Comprehensive Erivironmental Response; :Coinpensation and Liability Act (CERCLA, 42
<br />U.S.C. 9601 et seq.), and a11 other federal, state and local laws, regulations, ordinances, court orders, attomey 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, pollutant 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 includas, 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 Bene�ciary, no Hazardous Substance is or will be
<br />located, stored or released on or in the Property. This restnction do�s n2t�g 1.�o sma11 quantities of Hazardous
<br />Substances that are generally recognized to be apprr��i�at�; ���c�}aT,���}ar��ma�ntenance of the Property.
<br />B. Except as previously disclosed and aclaiowledged i��r it�n� t��n� ,��ry, Trustor ' d every tenant have been, are,
<br />and shall remain in full compliance with any applic�bl����t���u�en�:, aw� -w��, �
<br />C. Trustor shall immediately norify Beneficiary if a rA.�.�� t�����-�ase �of `� azardous Substance occurs on,
<br />under or about the Properiy or there is a violation of any Environmental Law cancerning the Property. In such an
<br />event, Trustor shall take all necessary remedial action in accordance with any Environmental Law.
<br />������ (pe9e�
<br />�"' O 1994 Benkera Systems, Inc., St. Cloud, MN Form OCP-REDT-NE 1/3112003 � r �
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