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<br /> 14. DEFAULT.Trustor wi�l be In d�:fault if any pArty obl igeted on the Sccured Debt fails to make payment.when due. Trustor �
<br /> � will be in de:fmdt if a bYeach'occura under She termg of�this Secur:ty lnstrument or uny other d��cument txecuted for die r-
<br /> ; pucpose of creating,securing or guaraatyln� the Secused Debt. A good fnith bellef by Beneficlary that Beneficiary at any ��
<br /> nme ts tnsecure with re�pect te eny pereon or entity obligated on the Secured Aebt or that the prospect of nny payment or
<br /> • � Q�e valtte of the Aroperty is impaired shnll also constttutc an event of default.
<br /> 15. RE�DIES ON DEFAULT. In some instaaces, federal and s►ate law will require Beneficiary to provide T�ustor wiU� � °
<br /> notice of die right to cure or other notices and may establish time schedules for foreclosure actions. 5ub�ect to these
<br /> limitations, if any, Beneficiary may accelerate che Secured Debt and foreclose this Security Instrument in a manner
<br /> provided by law if Trustor is�n dcfault. -
<br /> � At the option of Beneficiary, all or any �art of[he agrced fees and chsuges, acerued iuteresc and principal shall b�.come
<br /> � immediatel d�ie and payable, after giving notice if required by law, upon the occurrence of a default or ��ytebt *�
<br /> this S turity111nst�rumentAand auy�lated documents�includin�ewiihc�ut lim tati n�the power�o sell the Pr perty��D '
<br /> If thei�e is a defuult,Trustee shall, in additian to any other permitted remedy. at thc reQuest of the Beaeficiary, advertise Y �w �.
<br /> � � and sell die Ptoperty as a whole or in separate parcels at public auction to the highest bidder for cash and convey absolute � .
<br /> dtle free nntl cleur of all rtght, tide and�nterest of Trusior at such dme and place as Trustee designates. Trustee shall give . �
<br /> notice of s�le including the time,term5 and place of sele and a description of the property to be sold as required by the ,-.,�..;�_.
<br /> appllcable ls�w in effect at the time of the proposed sale. r
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<br /> Upon sale of che properry and to the extent not prohibited by law,Trustee shall make and deliver a deed to the Propeny I ;�`�1�•"r�.;;;::��,:'��
<br /> sold whicn conveys absolute title to the purchaser, and after first paying all fees, charges and costs, shall pay to ��;�f�•.�:�:;�::.,:,�i�
<br /> � Beneficisuy all moneys ndvanced for repairs, taxes, insuraace, liens, assessments and prior encumbrances aud interest �,,.;�.��.'�•,',;!�c�r��;+��-
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<br /> thereon, .:ind the princ�pal and interest on the 5e.cured Debt,payin�; the surplus, if any, to Trustor. Beneflciary rnay �_• ,;•, Yr';;y'`�;;
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<br /> purchnse ehe Properry. The recitsls in any deed of conveyance shall be prima facie evidence of the facts set Forth therein. , .. . �, ;� t_;
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<br /> All rems�ies are distinct,cumulative ancl not exclusive,and the gieneficiary is entitled to all remedies�rovided at la�v or � ` .: � "��-
<br /> ,a.' equity.�vhether or not eapressly set forth.The acceptance by Beneficiary of any sum in gaym�nt or partial paym�nt on the 1�, ` � _
<br /> Secured L1�ebt after the balance is due or is accelerated or aiter foreclosure proceedings are Yiled shall not constitute a . ,r �
<br /> ' waiver of�eneficiary's right to require complete cure of any existing default. By not exercising any remedy on Tn�tor's ,
<br /> . , •'`�`: default,Baueficiary does not waive Beneficiary's ri�hht to later wnsider the eveat a default if it wntinues or happens again. �
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<br /> _' J t�. FXPTN.�T�d: ADVANCES ON COVENANTS; ATI'OItNCYS' FEES; COLLECTION COSTS. 8xcept when ��:
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<br /> proMbited b�l law,Trustor agrees to pay ail of Csenenciary s exprnsrs if Tiunt�.br�:ach:.� any ca:'enaz:.•n ..••� ----n�y - , -
<br /> Instrument. Trustor will also pay on demand any amount incwred by Beneficiary for iasurins, inspecting, preservin or . �,. �
<br /> terest from e
<br /> otherwise pmtecting ehe Property and Benef'tciary's security inrereyt.T`hese ex�enses will bear in t2i date o ihe
<br /> payment until p�id in full at the highest Interest rate in effect as provided in Yhe tPrms of the Secured Debt. Tn►stor asrces ,�,�
<br /> to pay nll co�to and expenses incurred by Benefici.nry in collecting, enforcing or protecting Beneficiary's eights and :
<br /> remedies uncfer this Sc:curity Insuument.Tiiis smouret may include,but is not limlted to, attomeys' fees,court costs. end :,.��t,'; ! :
<br /> othor Iegal cxpenses. 71i1a Security Instrumcnt shall rem�in in effect until released. Trustor agrees to pay for u►y ,�, ;
<br /> recordmion cosw of such relcasc. �� `,� ^'
<br /> " 17. ENdif�ONfl{tEPITA4 LAWS ANn HAZAFtDOUS 6UBSTAINCES. As used in U►ls svstton, (i) Environmental i.�w " �.r
<br /> menns, wlthout limitc►tiaa, the Comprehcnsi•�e Environmental Responsc, Compensation nnd Liabillty Act (CBRCLA,42 p. 4,. ..__
<br /> U.S.C. 9601 et seq,), and all other federal, state and local lews, regulations, ardinnnce9. court ordPrs, attomey general ,n;,,���
<br /> apiniono or i��tecpretive letters wnceming the public l�ealth,safe[y,welfare,environment or a hazardous substance;anal(2) .: ,C-� ,�
<br /> Haz¢rd�uo Subsuince means anY toaic. radioacdve or hazardous matedal, waste, pallutattt or contesninanc evtilct� has ��'��;.�`�'
<br /> characteristics which render the substance dangetous or potenti�lly dangerous to the public liealth, safety, welfare or , y.}:�; ,__
<br /> environment. 'i'�e term includes, without limitation. any substances defined as "hazardous materlal," "toxic substances,' : aA,� ._
<br /> "IIEIZtiTId011E W149:L' or 'Uazardous substance"under any Cnvironmsntal Law. • ::_.. —
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<br /> � Trustor repnescnts,warrants and agrees that: ��,��s-�"--,9
<br /> A.Except as previously disclosed and acknowledg�l in writing to Beneficiary, no Hazardous Substance is or will be '•°��.��:=-
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<br /> � IocAted, stored or released on or in the Property, 'Ihis restnction does nut apply to small quantities of Hazardous � .�,�.,.
<br /> �� Substnnceo that aze generally recognized to be ap roprlate for the normal use and maintenance of the Froperty. � � L-�
<br /> B.Except as previously disclosed and aclmowled��in writing to Beneficiary,Trustor and every tenant have becn.are, :.�'�;.�,.,�'�•"`
<br /> • and�hNl r°main ia full compliance with any a�pIicable Environmental Law. " �-•;:-;._�::----
<br />� C.Trus2or shall immediately notify Beneflciary if a release or threatened release of a Hazardcsus Substance occurs on, "..Y:;�,-�.��.��-;..
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<br /> under or about the Propsrcy or there is a violation of any Environmental law concerning the Pmperty. In sucU an .. „�,;.
<br /> event,Trustur shall take all necessary remedial actton in accordance�vith any Environmental Law. . :'��:�,
<br /> D.Truator shtill iuunediately notify Beneficiary in writing as soon as Trustor has reason to believe there is uny pendin� �
<br /> or �itreatened investigauon, claim, or proceedmg relatin�; to the relexse or threatened release of any Hazardous . .
<br /> Substttnce or the violation of any Environmental Law,
<br /> 18. CONID�A'SIVATION.Trustor wtll give Beneficiary prompt notice of any pendin�or threatened action,by private or public
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<br /> entities to urchase or take any or all of the Property ihrough condemnation,emtnent domain,or any other means.Trustor ?
<br /> authorizes�eneficinry to intervene in Trustor's name in any of the above described actions or claims. Trustor assigns to •
<br /> Beneficituy the proceeds of a�iy award or claim for damages co�ected with a condemnation or other taking of all or any
<br /> pnrt of tlic PropertY. 5uch proceeds shall be considered paycnents and will be applied as provided in this Security .
<br /> Instniment.This ass�gnment of procceds is subject to the tcrms of any prior mortgage,deed of trust, security agreement or
<br /> other lien document.
<br /> 19. INSURANCE.Trustor shall keep Property insured against Loss by fire,fluod,Weft und other hazards and risks reasonably
<br />= associnted with chc Property due to its typc and locaiion.This insurance sh�ll be maintained in the amounts and for the
<br /> periods thut Beneficiary re�uires. The in3urance r.arrier providin� the insurance shall be chosen by Trustor subject to
<br />— _ _ ,. . . ..._ ._.i._� _L_u _... t�,. .....�.........,1.1.....:ehl.ot if Tn,crnr faile tn maintain thn rnvP.raGe dCCCnbed _ _.—- _ - --_- --
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<br />- above, Beneficiu�may, at Beneficiary's option,obtain covemge to protect Beneficiary's rights in the Properiy according �� •
<br /> y ro tlte terms of this Secunty Instnunent.
<br /> All insurance policies and renewals shall be ac.�;eptable to Beneficiary and shnll include a stanqard "mortgage clause"and, I '
<br />=�:. . whcre applicable, "loss payee cluuse." Trustor shall immediatel�r noqfy Beneflciary of cancr,llation or termmation of the
<br /> �`� �� insurance. BeneFiciary shull have the ri�ht to hold the policies and renewals. If Beneficiary requires, Trustor shall �
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<br /> � immediately &ive to Beneficia.ry �11 receipts of paid prerniurns and renewal notices. Upon loss, Trustor shall give .
<br /> - immediate notice to the insurance c:arrier and Beneficiary.Beneficiary may make proof of loss if not made immediately by ,� .
<br /> Trustor. � �
<br /> � fldngce 3 0/41 'y' � .
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