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<br /> cxucutcd fur thc purposc c�f crcuting,sccuring or gu�ranrying thc Scrurcd Duht. A guc�d fai�h hclicf by l.cncicr thiu „
<br /> IAndcr at�ny timc is insccure with respcct to any pcnon or cntity obligutcd on thc Sccured I�cht or that thc prospect =
<br /> of uny paymcnt or the valuc af the Property is impaircd shall also constitutc�in evcnt of dcfault. _
<br /> . l5. RF:MEDIF.S ON QEFAULT. In somc instanccs,�cdcral �nd st,uc law will rryuirc l.�ndcr tu providc Gr�mtor with -
<br /> notice of thc right to cure or other notices and muy cstFiblish time schedules f�r(orcclosurc aciions.Suhj�:ct tc�these :,
<br /> limita�ions, if any, Lender may accelrrate the Srcured Debt and foredosc this Sccurity Instrument in a rnniincr �
<br /> proviJed by Ixw if Gr:�ntor is in Jcfaul�. ;
<br /> ' � At thc option of l.cndcr,all or any part of thc agrced fees.ind chargcs,accrucd intcrest an�i principi�l shall hecomc _,
<br /> immediatcly duc and payuble,after giving notice if rcyuired by law, upon the occurrence c�f a dcfault ur anytimc •� "''
<br /> .-,� thcrcaftcr. In addition, l.cndcr shall bc rntiUcd to aU the rcmcdics providcd by law,ihc�crms of thc Sccurcd Dcbt, �
<br /> .�• this Security lnstrument and any related documents,including without limitati�n,the pnwrr tc�sell thc Properry. -
<br /> ' If thcrc is a dcfault,Trustcc shall,in addition to any othcr permittcd remcdy,at thc reyucst of thc Lcndcr.�idvcrtisc _ -
<br /> and scll thc Property as a wholc or in scparatc parccls at public auction to thc highcst biddcr fc�r cash and convcy ' � �`
<br /> absolute: title (ree and clear of all right, title and interest of Grantur at such time and place as Trustce dcsignxtes. • "� `��'��-”
<br /> ,;..._..,:'`����:
<br /> " ' 'Prustcc shall givc noticc of salc including thc timc,tcrms and placc of salc and a dcscription of thc property to bc sold t:-'—
<br /> _ .- --
<br /> as required Ny the applicable law in effect at the time of the proposcd sale. �'""--" -
<br /> � Upon salc of thc property and to thc extcnt not prohibitcd by law,Trustcc shall makc and dclivcr a ciccd to thc Property ---
<br /> sold which conveys absolutc tide to the purchascr,and after first paying all fees,charges and costs,shall pay to Lcnder all , __
<br /> moneys advanced for repairs,taxcs,insurance,licns,assessments and prior encumhrances and imerest thereon,�nd thc .:
<br /> principal and intcrest on the Secured Debt,paying lhc surplus, if any,tu Grantor. Lcnder may purchxse the Pro}xrty. •-� -
<br /> , The recitals in any deed of conveyance shall be prima facie evidencc of the facts set forth thcrein. , __
<br /> `� All remedies arc distinct,cumulativc and not exrlusivc,and the Lender is entiticd to all remedics provided at law or ';�=�=
<br /> cyuity,whether or not expressly set forth.l'he acceptance by Lender uf any sum in payment or partial payment on the J
<br /> ;. Secured Debt after the balanee is due or is aceelerated or after foreclosure proceedings are tiled shall not constitutc a ; ��;^;`;;�,;
<br /> �vaiver of I.ender's ri ht to re uire com Iete cure of an existin�default.B not exercisin an remed on Grantor't ��� •
<br /> ,: G 9 P Y b Y �' Y Y .�.,���
<br /> � JeFault,Lender does not waive Lender's right to later consider the event a default if it continues or happens again.
<br /> 16. EXPENSES;ADVANCES ON COVENANTS;ATTORNEYS' FEES;COLLEC'�'ION COSTS. Exccpt whcn ':�^�+�
<br /> ' � prohibited by la�v,Grantor agrees to pay all of L.endcr ti cxpcnscs if Grantar brcachcs any covenant in this Security '`� ,� 'r-
<br /> . Instrument.Grantor will also pay on demand any amount incurred hy I.cnder for insuring, ins�:cting,preserving or ;J ?�.
<br /> othcrwisc protecting thc Property and Lender's sccurity interest.These expcnscs will bear intcrest from thc datc of =
<br /> - ' the payment until paid in full at the highest intcrest ratc in effcct as provided in �hc tcrms of the Securcd Debt. _
<br /> --J ,�.,� G�ai�iut ag�cc�iu pay al1 cuaia du�i cxNciiaca i�iciii�c�S l'�y Ixu�Sri i�'�cullcciiag,cii(uiciiig u��iiuiccti�ig L�:�i�ci�a iigiii5 ,
<br /> a and remedics under this Security Instrument.This amount may includc,but is not limited to,attorncys' fccs, court ����
<br /> � ',j c�sts,and other Iegal expcnscs.This Sccurity Instrument shall rcmuin in effect until rcleased. Grantor agrccs to pay ;„ _-
<br /> " for any rccordation cosis of such relcasa
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<br /> ` ' 17. ENVIRONMF.NTAL LAWS AND HAZARDOUS SUBSTANCES.As used in[hissection, (1)Environmcntal Law =
<br /> �� �` means,without limitation,the Comprehensive Environmcntal Rcsponse,Compensation and Liability Act(CERCLA,
<br /> •. � 42 U.S.C.9601 ct seq.),and all ather federal, statc and lacal laws, regulatinns, ordinances, court ordcrs,attomcy ;n-
<br /> general opinions or interpretive Ietters'concerning the public health,safety, welfare, environment or a hazardous ;_';-
<br /> � •� substance;and (2) Ha•r.ardous Substance means any toxic,radioactive or haxardous rnaterial,waste,pollutant or
<br />- contaminant which has characteristics which render the substance dangerous or potenti�lly dangerous to the public �_ �
<br /> " health,safety,welfare or environment.The term includes,�vithout limitation, any �ubstances defined as"hazardous �
<br /> . �:�• matcrial,""t�xic substances;'"ha�ardous wastc"or"hazardous substancc"undcr any Environmcntal Law. �r �
<br /> '"�"`��� Grantor represents,warrants unJ agrees that: -� +�
<br /> ;v.��s�•, ::_
<br /> �,-;�wVa� A. Except as previously discloscd and acknowledged in writing to Lender, no Ha�ardous Substance is or will be �
<br /> °-'�--'���-- located, stored or released on or in the Propert�•. This restriction does not apply to small quantities of
<br /> :�.�.°*.r�:, -- -
<br /> ��:�;,� Ha�ardous Substanccs that are gencrally recognizcd to bc appropriate for the normal ��se and maintenance of
<br /> �'t��� -,.s� thc Property. �
<br />'�z � � �� B. Except as prcviously disclosed and acknowledged in writing to L�:ndcr,Grantor and cvcry tenant have been,arc,
<br /> =:,_`.._. .- �;:"_----=
<br /> _. and shal(remain in full compliance with any applicable Environmental Law. � ____ —__ -
<br />'.;;�..°'.+:�: C. Grantor shall immediately notify Lendcr if a rcicasc or thrcatened release of a Hazardous Substancc occurs on,
<br /> •- , �,X: under or about thc Property or there is a violation of any Environmental Lnw conceming the Property.In such
<br /> �-:`.r:.�c•: an event,Granror shall take ali necessary remedial action in accordance with any Environmental Law. ----
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<br /> D, Grantor shall immcdiately notify Lcndcr in writing as soon as Grantor has reason to belicvc thcrc is any
<br /> .ei 1 v . . . • � '—
<br /> � "'��"� � • pending or threatencd investigAtion,claim,or procecding rclating to thc rcleasc or thrcatencd relcasc af Hny
<br />?"'���tt•�'�� Hazardous Substancc or thc violation of any Environmcntal Law. ��"-
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<br /> . 18. CONDEMNATION. Grantor�vill givc Lcndcr prompt noticc of any pcnding or thrcatcncd action, by privatc or =
<br /> public entities to purchasc or takc any or all of thc Property through condemnation,ernincnt domain,or any other °'�m-�"-
<br /> ' mcans. Grantor authorizcs I.cndcr to intervcnc in Grantnr's namc in any of thc abovc dcscribcd actions or claims. �-���s�'"
<br />. Grantor assigns to Lender the procceds of any award or claim for damagcs connectcd with a condemnation or other << t�'`'`"�TM
<br /> ° � takin of all or an art of thc Pro cn .Such rocccds shall bc considcred a ments and will bc a licd as rovidcd in . ..`��'�`e�~`
<br /> . G Y P P Y P P Y PP P ..���".�;;,
<br /> this Sccurity instrumcnt.This assignmcnt of procccds is suhject to thc tcrms of any prior mortgagc, dccd of trust, "'"'�"°'"�
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<br /> , sccurity agreement or othcr lien documcnt. ,...}�+ -„�
<br /> 19. iNSURANCE. Grantor shall kecp Property insured against loss by firc, tlood, thc(t and othcr har.ards and risks �" ' '
<br /> � rcasonably associated with thc Property duc to its typc and location.This�nsurancc shall hc maintaincd in thc amounts � "-"�rt;�-�-.�
<br /> and for thc periods that Lender rcquires.Thc insurancc ct�rricr providing thc insurancc shall bc chosen by Grantor � � `T"'��'�
<br /> . .�_._ ....
<br /> ..: subjcct to Lcndcr's approval,which shall not be unrcasonably withhcld. If Grantor fails to maintain thc covcragc �.
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<br /> - described above,L.ender may,at Lender'.s option,obtain coverage tc�protrct l.endcr's ri�hts in the Prnperty according •�'
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<br /> „ to the terms uf lhis Security[nstrument.
<br /> ; AU insurancc policics and rencwals shall bc acccpt�blc to Lendcr and shall includc a siandard "mortgagc cluusc"and, • °
<br /> , where applicable. "loss payee clause,"Grantor shall immediatrl}�notify Lcndcr uf cancellation or trrmination of the .•
<br /> , insuranca Lcndcr shall havc thc right to hold thc policics and rencwals. if Lcnder rcyuires,Grantor sh�ll immcdiatcly �
<br /> • givc to [.cndcr��II rcccipts of paid prcmiums and rencwal noticcs,l?pon loss,Cirantor shall givc immediatr nc�ticc to
<br /> � thc insurance carricr and Lendcr.Li:nder m�y makc proof of loss if not m.�dc immcdiatcly by Grantor.
<br /> i �.
<br /> rp�98 30�4,
<br /> m 1894 panfor6 SyWMnf.int.51 f,bud.MN I1�B0p397-23l11 Fprm HE�DT�NE NN&1 _ .
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