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<br /> • �-� 14. DEFAiII.T.Tnsswr will be in default if anyparty obllgated on the 5eeured Debt fails to make PaW�►t nvhea due.Trastor
<br /> � . � ` °� arill be in default if a breacls oocuis nader the tec�of this Security Ins�t or aay other document executal for We , c '`�.'`,.-
<br /> P.�Fuse of creatia�y,secauiIIS or guarantyinS the Secured Debt. A gaad faith belief by Beaeficiary that Beneficiary at aay `k• '. .
<br /> � ' nme�s insecure anth respec.t to any p e r s o n o r e n uty.o b i i g a t e d o n t h e S e c u r e d Debt or that the pmspect of anY PaYment°r
<br /> • � : ..� the value of the Property u impa�red shall also oonsuwte an event of default. , : �
<br /> .. '<-.' �r
<br /> genefrciacy to pmvide Tn�stor with
<br /> . . { 15. REMEDIES UN DEFAULT.In soate iastances. federal aad state law will tequize .
<br />� � . , �� notice of the right w cu:e or other notices and may establish ame schedules for foreclosuze aar'��n�i�to�i " ( .. <<.
<br /> limir�tioas, if anq, Beneficiary maY aocelecaze the Seaued � � forectose this Sewrity
<br /> • ,- , pcovided by law i f Tn�swr is in d e f a q l t. _: •
<br />-r: `` ` ` At the option of Beaefsciary a11 or any, �art of theag�d fces and charges,accraed intetest and princ�pal shall become - =--- . . �. ,.
<br /> � i,nmed_;arP�q due and payable, after Stvmg nodce if �uired by laar, upon the accurrence of a defautt or ,'
<br /> .;.�_,�__:
<br /> ' .In addidoa,Benefictary shall be entided w all the remedi e s p r o v i d e d b y l a w,t h e��o�Secured� �
<br />_ ' ` t}us S'�ecam'ry Instcumeat and anY related documents,including without limitation,the power t P�Y• � . ..
<br />`t at therequest of the BeneficlaiY,advertise `
<br /> If there is a default,Tmstee shall,in addition to an y other peruriued remedy. . _ , .
<br /> ' ° as a whole or in s parce l s at public auctioa to the tughest b i dder for cash and conveY absolute ,:
<br /> .. , a n d s e l�l�P m P�o f a!1 ri g h t,t i d e a n d�t of Tn�sw r a t s a c h a m e a n d p l a c e a s T�v s t e e d e s i g n a t e s.Tnutee shall give . .
<br /> P �
<br /> t o b e s o l d a s r e q u i r e d b Y t h e ',.�` ``�
<br /> , � , �p'�cable laar in�ga the time o�p��s�sal�e and a description o f t h e p r o P e rt y _..` .._-
<br /> � �' -.
<br /> � Upon sale of the propesty and to the extent not prolubited by law,Tnutee sha11 make and deliver a deed to the ProPeitY . . . '
<br /> . , �`;, s o t d which coave ys absolate tide to the gurchaser, and after fust paying all fees, cUarges and costs, s6all�ay to :�r:,:
<br /> Benef ciary all moaeys advanced for repaits, taxes. insurance, l i e n s, a s s e s s m e n t s az�d p r i o r eaam�lsrances and mterest
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<br /> _ theceon, and the princ�al and intecest on the Secared Debt, PayinS the s�Pl�� if any, w Tmstor. Seneficiary,ma7+ :
<br /> �e recitals in an deed of coav ance shall be nma facie evtdence of the facts set forth therein. � ?
<br /> , � p r n.
<br /> :: � _ purchasethe FmpertY- Y .: : '��-"�.T�::�
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<br /> • ' ' pu�¢�ate distins�,cumulative and not exclusive,aad the Benefi�'ary is entitled to all reu�edi�pa�t on the f ` :�
<br /> '_ e q u i ty,whether or not expressly s�forth.The acceptance by Beneficiary of any sum in PaYmen p ----
<br /> Secured Debt after the b a l a nce �s due or is a c c e l e r a t e d o r a ft e r�default pBy n�o t e�ercisin8 ury�m�lY on Tmstor s .. -. �}�'�
<br /> � waiver of Beneflciary's right to require corr�lete cure of an}r eaisung . ��'=
<br /> :,.;�--
<br /> - default,Beaeficiary does aot waive Beneficiary's right to later consider the event a default if it conti�ues or happens again• �,.;,�=,;.Y:,
<br /> { .;� .�
<br /> 16.EXPENSES: ADdANCES ON COVENANT�; ATTORNEYS' FEFS; COLLECTION COSTS. Except when ' � i��:#,,,:
<br /> ' prolubited by law,Tnuwr agrees to pay all of Beaeficiar�r's expeuses if Tmstor breaches aay covenant in this Security . , .,,_�.
<br /> ��Q .,..�-:
<br /> Insuunnent. Tn�stor w71 also pay on demand any amount mcurred by Beneficiary for insuria�, insPect�ng,presen+ing or - _-.,,�..s,.
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<br /> � otbera+ise prote�tiug the PropertY and Beueficiary's security interest.'ihese expenses will bear iaterest from We date of the �JJ�,�
<br /> - . payment until paid ia full at the highest interest iate in effect as provided ia the terms of the Se�a�red Debt.Tnistor agrees . ' .��',._�i',. '.
<br /> to pa all costs and expenses incurred by Beneficiary in,collecting, enforcing or pmteaing Beneficiary's righis aad ° '.
<br /> " �es under this Secunt3+Insuame°t.TWs amount may include,firt is not limited to.attomeys' fees.court costs,and _.�j rv����:
<br /> , •4 o t h e r 1ega l e x p e n s e s. T h i s Securi ty Instrument shall remain in effect until released. Tmstor agrees w pay for any ., •4 .p .,:
<br /> - recorda t ion custs of such release. ��r�-
<br /> �� ' (1) Environmeat�1 Law ,� < . `..:�°,
<br />. ..� 17. IENVIISONNIENi'AL LAWS AND HAZARDOUS SUBSPANCES. As used ia this sectioa, . . .:.;:s��:_
<br /> � � . means,without limitatioa, the Comprehensive Environmental Response, Compeasazion and Liability Act(CERCLA,42 - �;
<br /> U.S.C.9601� seq.).and all other federal.state azcd tocal laws, regulations. ordinances.court orders.attomey&eneral -�_
<br /> opinions or imerpreuve lettels concerainS the public health,safety,welfare.envimnment or a hazardous substance;and(2) . .
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<br /> inan ,a.Y�?=:.
<br /> :'� • , Hazardous Snbstance means aay toxic, radioactive or ha�ardous mazerial wastc, pollutant or contar�t which has
<br /> •.;, characterlstics wluch rendet the svbstancc dangerous or potentially dan8emus w the pnblic health. safety. welfare or . :::�;'�r;
<br /> , eavironme,nt.'I�e term includes,without limitation, a�y substances defined as "hazardous material," °toxic substances," � . ;mY:N,-:
<br /> . "hazardous waste"or"hazardous substance"nnder any Eavironmental Law. .�.•.;
<br /> . . ° .•,...., : ::.�"�.;
<br /> , Trusto:represents.warraats and agrees that: . . . :----
<br /> A.Except as previously dlsctosed and ackaowledged in writing to Beneficiary,uo Ha7ardous Substance is or w�11 be ,�,r.:
<br /> • � located,stored ar released on or in the Proy�escy.77us restriction does not apply to small quaatities of Ha7ardous _
<br /> ' Substances that aze Se�eral�Y r�9n�t°be ap ropriate for the nom�al use and maintenance of the Property. �,�:,,
<br /> � B.Except as previousiy disctosed and acknowledg��a writing to Beneficiary.'i'rustur aad every tenant have b�en,aze, .
<br /> - � and sball remain in full compliance witb any applicable Enviroamental Law. �'.
<br /> C.Tmstor shall inunediately notify Beneficiary�f a release or threatened release of a Hazardous Substance lo�on�, ,.
<br /> ' under or about the Pcoperty or there is a violation of aay Enduonmental 1.aw concera�nS the Property. .
<br /> event.Trustor shall take a11 necessary remedial action in aocordance with any Envlronmentai Law. • � . ,
<br /> � ' D.Tmstor shall immediately notify.Benefi�iary i:n wtlting s�soon as Tnutor has reason to 6elieve there is any pending •
<br /> � or threatened investigauon, claun. oz proceeding relating to the release or tbreatened release of any Hazardous .
<br /> Subst�ce or the viojaaon of any EAVironmental Law• �
<br /> � ' 18. CONDEMNA7TON.Trustor will�ive Beneficiary prompt notice of any pendin�or threatened action,by prlvate or pubflc '
<br /> ,���'• � � � entities to purchase or talte any or all of the Property through wademnation,em�neat domain.or any other me�s.Trustor .
<br /> authorius Beneficiary to intervene in Tn�stor's narne in any of the above described actions or claims.Trustor assigns to
<br /> Beaeficlary the proceeds of any award or claim for damages connected with a candemnation or other talc"sng of aU or any , . .
<br />_ � � lnstrumente Th3s assi�gnment of pro�si s�subject%idhe ierms of anY P ot mortgagepd�eed of trpustY security�geement or �
<br /> other lien document. . �
<br /> 19. INSURANCE.Trustos shall keep Property insured against loss by fire. flood.theft and other hazards and risks reasonably '
<br /> associated with the Property due to�ts type and tocauon. This insurance shall be maintained in the amounu and for the ::
<br /> �'�. � periods that Beneficiary re4u�res. The insurance carrier providing the insurance shall be chosen by Trustor subject to
<br /> -� iBeneficlary's approval, which shall not be unreasonably withheld. lf 'frustor fails to maintain the coverage described
<br /> � above,Benefic�ary may. at Beneflciary's option.obtain coverage to protect Beneficiary's rights in the Property according
<br /> i to the tertns of th�s Secur�ty lnsmiment. .
<br /> .��� � � Al1 insurance policies and renewals shall be acc�ptable to Beneficiary and shall include a standard "mortgage clause"and,
<br /> � where applicable. "loss payee clause." Trustor shall immediately noti�y $eneficiary of cancellation or ternilnation of the
<br /> � insurance. Beneficiary shall have the right to hold the policies and renewals. ]f Beneficiary requims. Trustor shall
<br /> � immediAtely give to Benefic�ary all receipts of paid premiums ar.d renewal notices. lJpon loss. Trustor sha11 glve
<br /> immediate nottce to the insurance carrier and$eneficiary.Benef:ciary may make proof of loss�f not made immediately by
<br /> • ! Trustor. � � . .
<br /> . �; rvege 3 or a�
<br /> . _ � , J7994 8.v+ke�s Systomv.Int.51 CIaA.MN tl 800 39�7341��n�m RE DT NE �Od7.97 •
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