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<br />Financial Reports and Additional Documents. Trustar 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 />documents 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 Trustor 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 Property to Trustee, in trust, with power of
<br />sa1e. Trustor also warrants that the Property is u��a��um�ered, 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 the Properiy. This right is sub�ect to 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 Bonower 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 Borrower 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 Boirower or Trustor occurs that adversely affects the Property or Beneficiary's
<br />rights m the Property. This includes, but is not limited to, the following: (a) Trustor fails to maintam required insurance
<br />on the Property; (b) Trustor transfers the Properiy; (c) 7Crustor 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 lien
<br />of this Security 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 through eminent domain; (h) a judgment is filed against Trustor and
<br />subjects Trustor and the Prope to action that adversely affects Beneficiary's interest; or (i) a prior lienholder forecloses
<br />on the Property and as a result,�eneficiary's interest is adversely affected.
<br />Executive Officers. Any Borrower is an executive o�cer of Beneficiary or an �liate and such Bonower 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 DEFAULT. In addition to an��y .other .,remedy available under the terms of this Security Instrument,
<br />Beneficiary may accelerate the Secured Debt and ,gpg'ec�QSe;t�is Security Instrument in a manner provided by �aw if Trustor
<br />is in default. In some instances, federal and state 1aw�wilT require Beneficiary to provide Trustor with notice of the right to
<br />cure, or other notices and may establish time sched���� f�r 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, a11 or any part of the agreed fees and charges, accrued interest and principal sha11 become
<br />immediately 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 />sepazate parcels at public auction to the highest bidder for cash and convey absolute title free and clear of all right, title
<br />and mterest of Trustor at such time and place� as,�'rustee,d�ignates. Trustee sha11 give notice of sale including the time,
<br />terms and place of sale and a description of the properfy 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 prohibit+ed by law, Trustee sha11 make and deliver a deed to the Properly
<br />sold which conveys absolute title to the purchaser, �; a�d after first paying a11 fees, charges and costs, shall pay to
<br />Beneficiary all moneys advanced for repairs, taxes, iaisurance, liens, assessments and prior encumbrances and mterest
<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 pruna facie evidence of the facts set forth therein.
<br />T'he 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 sha11 not consritute a waiver of Beneficiary 's right to require complete
<br />cure of any existing default. By not exercismg 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 COVENANT5; ATTORNEYS' FEES; COLLECTION COST5. If Trustor breaches
<br />any covenant in this Security Instrument, Trustor agrees to pay a11 ex�enses Bene�ciary incurs in performing such
<br />covenants or protecting its security interest in the,Prqperty. Such expenses mclude, but are not limited to, fees incurred for
<br />inspecting, preserving, or otherwise protecting th� �'�gp'��ty and Beneficiary's security interest. These expenses aze payable
<br />on demand and will bear interest from the date te�,pa�nent unril paid in full at the highest rate of interest in effect as
<br />provided in the terms of the 5ecured Debt. Tr`u��o� a to pay all costs and expenses incuned b�y Beneficiary in
<br />collecting, enforcing or protecting Beneficiary's nghts and remedies under this Secunty Instrument. This amount may
<br />include, but is not lunited to, Trustee's fees, court costs, and other le�a1 expenses. To the extent permitted 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 Secunty Instrument sha11 remain in effect
<br />until released. Trustor agrees to pay for any recordation costs of such release.
<br />11. ENVIRONMENTAL LAWS AND HAZARDOi7�.. S�.TB5TANCES. As used in this section, (1) Environmental Law
<br />means, without limitation, the Comprehensive �nui{; Response, Compensation and Liability Act (CERCLA, 42
<br />U.S.C. 9601 et seq.), and a11 other federal, state d:1oc�J :Iaws, regulations, ordmances, court orders, attomey general
<br />opinions or interpretive letters concerning the pupli���th f "safety, welfare, environment or a hazardous substance; and (2)
<br />Hazardous Substance means any toxic, radioacn�ie ar hazardous matenal, 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 includes, without limitation, azi : substances defined as"hazardous material," "toxic substances,"
<br />"hazardous waste" or "hazardous substance" under any �iavironmental Law.
<br />Trustor represents, warrants and agrees that: �
<br />A. Except as previously disclosed and acknowledged in writing to Beneficiary
<br />located, stored or released on or in the Property. �u� ,r,esttr�tic2.�,�ioe�, t
<br />e
<br />Substances that are generally recognized to be ap ��ax� grn�Q ,` 1
<br />B. Except as previously disclosed and acknowledg�. gt� '
<br />and shall remain in full compliance with any applical��v�r�' ,� w
<br />C. Trustor shall immediately notify Beneficiary� if a rel�ase�'or,�r�ed''_ .�,e
<br />un der or a bout t he Property or there is a violation of any Environmental L
<br />event, Trustor shall take all necessary remedial action i,n accordance with any
<br />��-�- M O 1994 Bankers Systems, Inc., St. Cloud, MN Form OCP=.Ac�DT [�FE 1/31/2003
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<br />, no Hazardous Substance is or will be
<br />a 1 to small quantities of Hazardous
<br />m tenance of the Property.
<br />; tor d every tenant have been, are,
<br />ase of `a�Iazardous Substance occurs on,
<br />aw concerning the Property. In such an
<br />Environmental Law�
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