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<br />Financial Reports and Additional Documents. Trustor will proeide to Beneficiary upon request, any financial statement
<br />or information Bene�ciary may deem reasonably necessary. Trustor agrees to sign, dehver, and �le any additional
<br />documents or certi�cations 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. WARRAIVTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Sccurity Instrument and has the rigfit to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of
<br />sa1e. Trustor also warrants that the Property is unencumbered, except for encumbrances of reeord.
<br />7. DUE pN 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 to the
<br />restrictions imposed by federal law {12 C.F.R. 591), as applicable.
<br />8. DEFAULT. Trustor will be in defautt 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 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 Borrower or Trustor occurs that adversely affects the Property or
<br />rights in the Property. This includes, but is not limited to, the following: (a) Trustor fails to maintaln required insurance
<br />on xhe Property; @) Trustar 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 fasts ta pay taxes
<br />on the Property or otherwise fails to act and thereby causes a 12en to be �led agasnst the Property that is senior to the lien
<br />of this Security Instrument; (e) a sole Trustor dies; (� if more than one Trustor, any Trustor dies and Beneficiary's
<br />seeurity is adversely affected; (g) the Property is taken through eminent domain; (h) a judgment is �ted against Trustor and
<br />subjects Trustor and the Property to action that adversely affects Bene�ciary's mterest; or (i) a prior lienholder forecloses
<br />on the Properky and as a result, Beneficiary's interest is adversely affected.
<br />Executive Of�eers. Any Borrower is an executive of�cer of Beneficiary or an af�iliate and such Borrower becomes
<br />indebted to Beneficiary or another lender in an aggregate amount greater than the amount permitted under federallaws and
<br />regulations.
<br />9. REMEDIES ON DEFAULT. 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 mannerprovided by law 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. Each Trustor requests a copy of any notice
<br />of default and any notice ofsale 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 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 sha11, at the request of the Bene�ciary, ac3vertise and sell the Property as a whole or in
<br />separate parcels at public auction to the highest bidder for cash and convey absolute title free and clear of all right, title
<br />and interest of Trustor at such time and place as Trustee designates. Trustee shall give notice of sale including the time,
<br />terms and place of sale and a description of the propertq to be sold as required by the apphcable law in effect at the time of
<br />the proposed sale. :
<br />Upon sate of the Property and to the extent not prohibited by 1aw, Trustee shall make and deliver a deed to the Property
<br />sold which conveys absolute title to the purchaser, and after first paying all fees, charges and costs, sha11 �ay to
<br />Beneficiary all rnoneys advanced for repairs, taxes, insurance, 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 prima facie evidence of the facts set forth therein.
<br />The acceptance by Bene�ciary 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 shall not constitute a waiver of Beneficiary 's right to require complete
<br />cure of any existing default. By not exercismg any remedy on Trustor's default, Bene�ciary does not waive Bene�ciary's
<br />right to later consider the event a default if it happens again.
<br />10. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If Trustar breaches
<br />any covenant in this Security Instrument, Trustor agrees to pay all expenses Beneficiary incurs in performing such
<br />covenants or proteeting rts'security inferest in the Pxoperty. Such expenses mclude, but are not limrted to, fees incurred for
<br />inspecting, preserving, or otherwise protecting the Property and Bene�ciary's security interest. These expenses are payable
<br />on demand an�i wi11 bear interest from the aate of payment until paid in full at the highest rate of interest in effect as
<br />provided in the xerms of the Secured Debt. Trustor agrees to pay a11 costs and expenses incurred by Beneficiary in
<br />collecting, enforcing or protecting Bene�ciary's rights and remedies under this Security Instrument. This amount may
<br />include, bnt is'' not hmited to, Trustee's fees, court costs, and other legal expenses. To the extent permitted by the United
<br />States Bankrup',tcy 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 Security Instrument sha11 remain in effect
<br />until released. !Tnzstor agrees to pay for any recordation costs of such release.
<br />11. ENVIRONNILNTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environxnental Law
<br />means, without limitation, the Comprehensivs Environmental Response, Compensation and Liabilrty Act (CERCLA, 42
<br />U.S.C. 9601 tt seq.), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general
<br />opiruons or inCerpretive letters soncerning the public health, safety, welfare, environment or a hazardous substance; and (2)
<br />Hazardous Substanee means any taxic, radloactive or hazardous material, waste, pollutant or contaminant which has
<br />characteristics whieh render the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br />envirpnment. The includes, without limitation, any substances de�ned as"hazardous material," "toxic substances,"
<br />"hazardous waste" ar"hazardous substance" under any Environmental Law.
<br />Trustor represents, warrants and agrees that:
<br />A. Except as previously discT,osed and acknowledged in wri ' ,,.; z , :. ,, Substanee is or will be
<br />,. , ,,
<br />located, stored or released on or in the Property. This r ' ,! ali quantities of Hazardous
<br />Substances that are generally recognized to be appropriate o c�i ��` pf the Property.
<br />B. Except as previously disclosed and acknowledged in writi �' tenant have been, are,
<br />and shall remain in full compliance with any applicable Environmental Law.
<br />C. Trustor shatl immediately notify Bene�ciary if a release or threatened release of a Hazardous Substanca occurs on,
<br />under or about the Property or there is a vlolation of any Environmental Law concerning the Property. In such an
<br />event, Trustor shall take all necessary remedial action in accordance with any Environmental Law.
<br />(Page 3 of 41
<br />� p 7994 Bankers Systems, Ina, St. Cioud, MN Form OCP-RED7-NE t/31/2003
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