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<br /> � � 97-' 1C121�2 : ` .: , ` .�.-
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<br /> executed for the purpcse of creating,securing or guarantying the Secured Debt. A good faith belief hy i.c:nder that _ , < �
<br />. Lender at any time is insecure with respect to any person or entity obligated on the Secured Debt ar that the prospcce •[ �....�
<br /> of any payment or the value of the Property is impaired shaU also constitute an event ut default. -
<br /> 15. FtEMEDIE�ON DE�AULT.In some instances,fe�+eral and state law will require Lender to pruvide Grantur with '�_
<br /> � notice of the right to cure or other notices and may establish time schedules for fe�rcctosurc actiuns.Subject ro th�ye ' ` J.
<br /> � limitations,if any.Lender may accelrra:- the Secured Debt and foreck�+c this Securit� intitrumrnt in a manner —_
<br /> provided by!aw if Grantor is in default. � �
<br /> � At the option of IAnder,all ur an} part uf the agrr�d fees and rharges,arcrurd intrr�.t and principal shall hrcumr -
<br /> :� Y � immcdiatel� duc and pay:sble. aft�r gi�•ing nuticc �f rcyuireJ hy la��. upun thr uccurrrncc uC a de:fault c�r an��tim� ` `
<br /> , thenafter.In additiun, [xnd�r�hall bc rntiticJ to a!I thr remedir.pruviJcd hy la��•.thr terms uf[h�Secune� Drbt. a
<br /> ? this Sccurity Intitrument:�nd any rrl�ted documcnts,inc lu ding wi t hi�u t li mi t n t iu n.thc puwrr tu tirll thr Prupcm'- , .,�.=-
<br /> ' � If therc is a detault.Tru.titrc�hal1,in adJitiun to any uther permittrd remedy.at thr rrqu�wt u(th�lAndcr,aJ�crtise ;
<br /> 1 -.;,��
<br /> and sell the Property as a whole ar in separat�parerll at public auction to thr highr�t hidd�r fnr cash aud amvcy �
<br /> absolutr title free and clear of all right, titic and interest of Ciramur at such time and placc as Trustee designates. ;
<br /> . Trustee shall give noticr ut+ale including thc timc.terms end place of salc anJ n drscriptiun uf the property to l�e sold ^ . ,�
<br /> � as required by the applicahle law in eftect at the time of thc proposed+ale. �•jr-;.=-
<br /> • Upon sale of the property and to th�rxtrnt not prohibited hy law,Trustre shall mak�anJ deli��er a deed to the Property
<br /> �: - --
<br /> ` ` sold which conveys absolute titic:to the purchascr,and after fi�st paying all fcca.charg��and costs,shall pay to Lc:nder all .�,�� "'�„��
<br /> moneys advanced for rcpairs.taxes.insurance.liens,ass�.�ssments anJ prior rncumhrancr�and intcr��st thereon,and the --. - __
<br /> ,. ,' principal and interest on lhc Secured D�bt,paying the surplus.if any.to Grantor. L�:nder may purch�e ihc Property. ���,„r=•.,�--
<br /> ,:
<br /> The recitals in any deed of conveyance shall be prima facie evidence of thc facts s�:t forth ihcrcin. .,�.sa.,.,-_
<br /> �L �-�.
<br /> ' All remedies are distinct,cumulative and not exclusive,and the Lendcr is entitled to all remcdies provided at law or .. F".
<br /> � ` � eyuity.whether or not exprc.�sty set forth.The acceptance by Lender of any sum in payment or partial paymcnt on the :. _��,i
<br /> Secured Debt after the balance u due or is accelerated or after(oreclosure proceedings are Gted shall not con�titute a �„r_,._
<br /> �-:
<br /> waiver of Lender s right to require complete cure of any existing defauit.Sy not exercising any remedy on Grantur's r- . �� �_ .�_
<br /> ' default,Lender does not waive U:nder's right to later consider the cvent a default if it continues or happens again. '; �,:-`-`"_
<br /> ' �••� 16. EXPENSES; ADdANCES ON COVENAiVTS; ATTORNEYS'FEES;COLLECTION COSTS. Except when '""�`
<br /> � � prohibited by law.Grantor agrees to pay aU of Lender's expenses if Grantor breaches any covenant in this Security • _
<br /> Instrument.C;rantor will also pay on demand any amount incurred by Le:nder for insuring,inspecting.preserving or . _;
<br /> � � othernise protecting the Property and Lender'c security interest.These cxpenses will bear interest from the date of _ `
<br /> � thc payment unti{ paid in fuil at the highest interest rate in effect as provided in the terms of the Secured Debt. �i•:
<br /> • Grantar agrees to pay all costs and expens�. incurred by Lender in colleceing,enforcing or protecting I.ender s rights •� ';� �__
<br /> an d remedies under this Security lastrument.This amount may include.but is not limited to.attomeys' fees,court •:,,� __
<br /> costs,and other legal expenses.This Security Instrument shali remain in effcet until released.Grantor agees to pay "':!.:, __
<br /> - • for any recordation costs of such relea5e. �
<br /> �,�: .
<br /> 17. ENVI1tONMENTAL LAWS AND HA'LARDOUS SUBSTANCES.As used in this srrtion,(1)Environmental Law • :i�_�.•
<br /> means,without limitation,the Comprehensive Environmental Respo►ise.Compensation and Liability Act(CERCLA. ;��r.,,
<br /> • 4� U.S.C.9601 et seq.).and all other federal,state and local laws.regulations.ordinances,court orders,attorney ' ��� �_
<br />' "- ' general opinions or interpretive lcttcrs concerning the public health,safety,wel fare.cnvironment or a hazardous ._:��,, ; _
<br /> '' substance: and (2) Hazardous Substance means any toxic.radioactive or ha.ardous material,waste, pollutant or #� :
<br /> � �f. �-j,�—.
<br /> contaminant which has characteristics which render the substance dangerous or potentially dangerous tu the public f ;�
<br /> � healih,safety,welfare or environment.Thc term includes,without limitation,any substance�defined as"hazardous � fi �_„_
<br /> � material.""toxic substances;'"hazardaus waste"or"ha�ardous substanec"under any Erwironmental Law. ,,
<br /> .,, ��_�:...-.
<br /> Grantor represents,warrants and agrees that: -
<br /> ' '� A. Except as previousty disclosed and acknowledged in writing to Lender,no Hazardous Substancc: is or will be _ ___ _
<br /> ,,�.�` ", l o cated.st Substances that a engenerally recogn cd t be appropria t for t h e rt a r m a lY u s e a n d t m a i t e n an c e of - "-
<br /> Hazardous . �^�
<br /> S'.
<br /> the Propeny. `"
<br /> B. Except as previously disclosed and acknuwledged in writing to Lcnder.Grantor and every tenant have been,are. _v,..�� �rr_!.. . °i-��
<br /> � and shall remain in full compliance with any applicable Environmental Law. ::� _ '
<br /> C. Grantor shall immediatciy notify Lender if a release or threatened release of a Ha�ardous Substance occurs on. ` ' ,—
<br /> under or about the Property or there is a violauon of any Emironmental Law cancerning the Property.In such ��'��� ���.,,•
<br /> .... �,�,.,y;{���
<br /> an event,Grantor shall take all necessary remedial action in accordance with any Environmental Law. ,;_�ti .
<br /> ti�� �;.:
<br /> � � D. Grantor shall immediately notify Lender in writing a�suon as Grantor has reason to helicvr thcre is any _ :: ._ .. �.
<br /> • pending or threatened investigation,claim.or proceeding relating tu thc rclease or threatencd release oi any .
<br /> ' Ha�ardous Suhstanct:or thc vialation af any Environmental Law. _, _ :.;
<br /> � 18. CONDEM1olAT10N.Grantor will givc Lender prompt noticc of any pending or thrcatened action. Hy private or ` �.� : '.•...
<br /> � p u blic entities to purchase or take any or all of the Prop�:rty through condemnation,cmincnt domain,or any other '„t Y��.;�;;c:-- —
<br /> means.Grantor authorizes Lender to imervene in Grantor's name in a n y o f t h e a h o v e d e s c r i h c d a c t i o n s or claims.
<br /> Grantor assigns to Lertder the proceeds of any award or claim for damages connected with a cundemnation or other • • , ,*: ,
<br /> '. , taking of all or any part of the Property.Such proceeds shall be wnsidcrcd paymenn and will he applicd as providcd in
<br /> ' this Security Instrument.This assignment of procccds ir subjecl tu the terms of any prior mortgage, decd of trust.
<br /> � security agreement or othcr lien document. � �
<br /> 19. INSURANCE.Grantor shall kcep Property insurcd against loss hy firc,fli�od.thcft and othcr hazards and risks . ,
<br /> � reasanabiy associated with thc Property due to its typr and loeaticm.This insurancx shall be maintaineJ in the amounts . !
<br /> ' and for thc periods that (xndcr rcyuins.Thc insurancc carricr providing thc intiurancc shall hc chosen by Gr�ntor ,
<br /> �ubject to Lendcr's approval,which shall not hc unrcasun.ibly withheW. !f Granti�r fails to m�intain thr cuver.+gr _
<br /> described ahi�ve.Le:ndcr mxy.at l.cnder's option.uhtain cuvcragc tu prot�ct Lcnder's rights in thr Proprrty accurding . R ..
<br /> to thc tcrms of this Sccurity Instrnmcnt. .. . �•
<br /> All insurancc pnlicies and renewalti.hall hc acceptable to I,i:ndcr and shaU include a standard"mortgagc clausc and. �
<br /> � where applicable."lotis payee clause.°Gr:+ntc�r�hall immediatrly nutify 1 xndcr i�f canccllation ur termination of the �..
<br /> � insurance.l.endcr sh�ll havc thc right to hutd thc policics and rencwal±.If lxnder rcyuirrti,Grantor shall immrdi.Ucly _
<br /> give to l.rndcr all receipts of paid premiums and renewa l nuticcs.Upon loss,(�rantor sh�ll give immediate nuticc to . : _
<br /> thc insurancc carrirr and l.�ndcr.Lcndcr may make proof of locs if not madc immcdiatrly hy(irant��r. �
<br /> , � �
<br /> (page 3 0l4) '
<br /> � 9�9918anac�s5ysroms Inc St Cbud MN i�AO(}59�1i1��F.,rn FIE Df Nt 80.41 - I . ''. �. �
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