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<br />Financial Re�rts and Additional Documents. T`rustor will provide to Beneficiary upon reques , any �nancial 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 pres rve Trustor's obligations
<br />under this Security Instrument and Beneficiary's lien status on the Property.
<br />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 irrevocably grant, convey, �.nd sell the Property to Trust , in trust, wrth power of
<br />sa1e. Trustor also vvarrauts that the Property is ut�encumbe�red, except for encumbrances of record.
<br />DUE ON SALE. Beneficiary may, at its option, declare the entire balance of the Secured Debt t be immediately due and
<br />payable upon the creation of, or contract for the creation of, a transfer or sale of the Property. is right is sub�ect to the
<br />restrictions unposed by federallaw (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 w�th 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 />Properly. AYy action or inaction by the Borrower or Trustor occurs that adversely af�ects the Property or Beneficiary's
<br />rights in We Properiy. This includes, but is not limited to, the following: (a) Trustor fasls to maintaui requ�red insurance
<br />on the Property; (b) Trustor transfers the Property; (c),Trustor com�mits waste or otherwise destructively uses or fails to
<br />maintain the Properly such that the action or inaction adversely affects Beneficiary's security; (d) �'rustor fails to pay taxes
<br />on the Property or otherwise fails to act and thereby cau�ses a lxen Co be filed agauist 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 Trusto 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 tfiat adversely affects Beneficiary's interest; or (i) a pmor lienholder forecloses
<br />on the Property and as a result,�eneficiary's interest is adversely affected. I
<br />Executive Officers. Any Borrower is an executive off`tcer of Beneficiary or an affiliate and �uch Borrower becomes
<br />indebted to Beneficiary or another lender in an aggregate amount greater than the amount permitted under federal laws and
<br />regulations. I
<br />9. REMEDIE5 ON DEFAULT. In addition to any other remedy available under the terms of
<br />Beneficiary may accelerate the Secured Debt and foreclose this Secunty Instrument in a manner �
<br />is in default. In some instances, federal and state law will require Beneficiary to provide Trustor
<br />cure, or other notices and may establish time schedules for foreclosure actions. Each Trustor re�
<br />of default and any notice of sale thereunder be mailed to each Trustor at the address provided in .
<br />At the option of the Beneficiary, all or any part of the agirt�ed fees and charges, accrued interest �
<br />immediately due and payable, after grving notice ,if, req�ired by law, upon the occunence
<br />thereafter.
<br />Security ,Instrument,
<br />ied by law if Trustor
<br />notice of the right to
<br />a copy of any notice
<br />n 1 above.
<br />principal shall become
<br />a default or anytime
<br />If there is a default, Trustee sha11, at the request of the Beneficiary, advertise and sell the Prbperty as a whole or in
<br />separate parcels at public auction to the highest bidder for cash and convey absolute title free an'd clear of all right, title
<br />and interest of Trustor at such time and place as Trustee designa�es. Trustee shall give notice of � sale including the time,
<br />terms and place of sale and a description of the property to be sold as required by the applicable laiw in effect at the time of
<br />the proposed sa1e. �
<br />Upon sale of the Property and to the extent nqx prpl�i�ri't�d by-law, Trustee shall make and deliva,� a deed to the Property
<br />sold which conveys absolute title to the purch�ser, an� ; :a�ter first paying all fees, charges �nd costs, shall pay to
<br />Beneficiary all moneys advanced for repairs,;.ta���, }x�sn�x liens, assessments and prior en�umbrances and mterest
<br />thereon, and the principa1 and interest on the 'Se�iarec� ; Debt, paying the surplus, , if any, to T stor. Beneficiary may
<br />purchase the Property. The recitals in any deed of.con've�,ance shall be prima facie evidence of the acts set forth therein.
<br />. ,_
<br />The acceptance by Beneficiary of any sum in payment o�`partial payment on the Secured Debt afte the balance is due or is
<br />accelerated or after foreclosure proceedings are filed sha11 not consritute a warver of Beneficiary 's 'ght 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 />.
<br />10. EXPENSES; ADVANCES ON COVENANTS; A1 FEES; COLLECTION COS� S. If Trustor breaches
<br />any covenant in this Security Instrument, Trustor agrees to pay all expenses Beneficiary inc rs in performing such
<br />covenants or protecting its secunty interest in the Piop�rty. Such expenses mclude, but are not lim, ted to, fees incurred for
<br />inspecting, preserving, or otherwise protecting the Prope;ty and Beneficiary's security interest. T'h�se expenses are payable
<br />on demand and will bear interest from the date of payinent until paid in full at the highest rat� of interest in effect as
<br />provided in the terms of the Secured Debt. Trustor agre�s to pay a11 costs and expenses inc ned by Bene�ciary in
<br />collectmg, enforcing or protecting Beneficiary's rights and remedies under this Secunty Instru�ent. 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, Trustor agrees to pay the reasqnalile attomeys' fees Beneficiary incurs to ollect the Secured Debt
<br />as awarded by any court exercising �urisdiction, ,der:�h� Code. This Secunty Instrum�nt sha11 remain in effect
<br />until released. Trustor agrees to pay for any reco�ation cos`ts of such release. ',
<br />1�. �1�IVdatON1l�IEN'�AL I.A�S AND HAZARDOUS SIJBSTANCES. As used in th'rs secrion, �(1) Environmental Law
<br />means, without limitation, the Comprehensive Environmental Response, Compensation and Liabxlity Act (CERCLA, 42
<br />U.S.C. 9601 et seq.), and a11 other federal,. state and local laws, regulations, ordmances, court prders, attomey general
<br />opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazairdous substance; and (2)
<br />Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or Icontaminant which has
<br />characteristics which render the substance dangerous qr potentially dangerous to the public health, safety, welfare or
<br />environment. The term includes, without linutation, �,n ; substances defined as "hazardous matenal, ""toxic substances, "
<br />"hazardous waste" or "hazardous substance" u�id�ry any "k�i�rzronmental Law. '
<br />�.:r;;:
<br />Trustor represents, warrants and agrees that `' , `,
<br />A. Except as previously disclosed and acl�owle��et�;;,im writing to Beneficiary, no Hazardous' Substance is or will be
<br />located, stored or released on or in the Property" 'y`his restriction does not apply to small I quantities of Hazardous
<br />Substances that are generally recognized to be app�ogriate for the normal use and mamtenan of the Property.
<br />B. Except as reviousl disclosed and acl�owled �ed,m writin to Benefi, '�*� T�O -�
<br />p y g g �have been, aze,
<br />and sha11 remain in full compliance with any applicable Environment�l�a,w A� J"�� 4�� 8�'= �� �� '
<br />C. Trustor sha11 immediately notify Bene�ciary if a release; ,or threate�d r�l�as� q€,� I�zardo �,.Substance occurs on,
<br />under or about the Property or fhere is a violation of any' Environmen�ai Law cor�c��g, t�e Property. In such an
<br />event, Trustor sha11 take all necessary remedial action in accordance vi+ith any Environ�iental �,aw.
<br />�e "� OO 1994 Bankers Systems, Inc., St. Cloud, MN Form OCP-REDT-NE 1/31/2003
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