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<br /> 14. D�rF�U1.T.Trustor wil!b�in dcfnult if nny parry obligntcd on ihc Sccurcd Debt fails�o make paymem�vhen ue. Trusror
<br /> �vill be ln default if a breach uccurs und�r the ter►ns ot tt►is Security Instniment or nny other document executed for thc
<br /> pu�{�ose of crcating, securing or�uarnntying the Secured Debt. A good faith belief by Beneficiary that aeneficinry nt;my
<br /> thc valu�of Ihe Propercypi cimpaireds tmll also co�nsiftntc an cv nt of defnult d Dcht or thut the prospect of:►ny paymcnt or
<br /> l5. REMEDIES ON DEFAUL'I'. In some insuenccs, fe�Cnd Nld Sidi� law will requirc Beneficinry to providc Tn�stor wtth
<br /> � notice of the rlght to cure or atiier m�tices and cnay establish tlme schedules for foreclosure actions. Subiect to these ; : ,
<br /> limitations, if any. Benor ie in defuult�ccelerate the Secured Debt �uid foreclose chis Security Instrument In a mnnner
<br /> . �•�^�' provided by law if Trust . .
<br /> � At tha option of Beneftciary, all ar any part of the agreed fees and churges, accrued interesc a�nd principal shall become „� �
<br /> Immediatvly due nnd payable, after g�v�ng notiw if rec�uired by law, upon the occurrence of 1 default or anytime `.
<br /> thereafcer. IuIaS dNtinoi�nn`�n�e�ICi���t d doceu�nents�includ'a Qe�v'tthout limPitati n�the�o ver ha sel t�he Propersty u� Debt. •�
<br /> this Security n Y �"'.�`^
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<br /> If diere is a dcfault. Trustee shnll, in addition to any othPr permitced remedy,at the request of the Beneficiary, advcrtise c'?---
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<br /> and sell the Property as a whole or in separate parcels at pubhc auction to the highest bidder for cash and convey absolute ; r�:__�-_
<br /> I [itle free and clear of all r�ght,title iuid interest of Trustor at such[irae and place as Trustee designates. Trostee shall g�ve , _
<br /> . aotice of s�le including the ttme, terms and pluce of sals and a description of the property �o be sold as required by the ,:. ,�
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<br /> � • � a p plicabla law in offecc at the time of the proposed sala. '�=.—
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<br /> Upon sale of the property and to the extent not rohibited by law,T�ustee shall makc an�i deliver a deed to the Property ��s_-- _ -
<br /> -� °�� - '- - - sold which con�eys absolare tide ro ths �urc acer; and after first paying all fees, charaes and costs, shall pay to ��.
<br /> � Beneficiary all moneys advanced for repairs, taxes. insurance. liens, assessments iuid pdor cncumbrancees :usd interest �__..._ __
<br /> ° thereon, and the princip e and�st�t o�n��f�n���tshall be�rima fa�c'ie eviden�of tha acts setBorthlthe eln. Y �-'`=;�:
<br /> . purchase the Properry.Th Y Y P
<br /> � t'�. A]1 remedies are dlstinct. cumulative and aot exclusive, and We Beneficiary is entided to al1 remedies�rovided at law or �__��
<br /> equity,whether or not expressly set f�rth.The acceptance by Beneficiary of any sum in p�yment or partial payment on the
<br /> ..�M Securecl Debt after the balance is dus or is accelarated or after foreclosure proceedings are filed shall not constitute a �
<br /> waiver of Beneficiary's right to require complete cure of any existing default. By not exercisin�any remedy on Trustor's
<br /> default,Beneftclary does not waive Beneficiary's rlght to later consider the event a default if it continues or hapPens again.
<br /> � ,,�. 1G. EXPENSFS; ADVANCES ON COVFNANT3; ATTORNEYS' FEES; COLLEC'TION COSTS. Except when —
<br /> ��ihi=��.� Zs;;,� T�rnr arore.e.4 to pav all of Beneficiary's expeases_if Trustor breaches any covenant in this Securlry
<br /> �nstmment. �'rusror will also pay on demund aay amount incurred by jsenenciary ior inYUiu�}},in�"t�8� "r°�'°n'�°�r
<br /> otherwise pmtectln�the Pmperty and Beneficiary's secunty interest.These expenses will bear u�torest from t�e date o�'the
<br /> payment until�p�id in full at the highest�nterest rate in effect as proveaisd in the terms of tha Socured Lebt.Tcustor agrees
<br /> ��•. to pa all cosls and expenses incurred by Beneficlary in,collectu►g, enforcing or protcctin� �eneficiary's rights and
<br /> � !�`''`'� � re�es under th�s Sr.euriry Instiument.This amount muy wclude,bu3 is not limited to, attorueys'fees, court costs,and
<br />_ �t,�;?;�:,;;. ,. other le�nl eapenses. This Securlty Instnunent shall remain m effect until released. Trustor agrees to pay for any ___ _.
<br /> ���• . recordcinon costs of such refease. --
<br /> 17. ENVatONA'YENTAL LaWS AND H�►ZARDOUS SUBSTANCTS. As used in chis sectian, (1) Environmoneal Law _ ____
<br /> means, without limitatton, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA,42
<br /> ' U.S.C. 9G01 et seq.), and all other federal, state and locul laws. regulauons, ordinances,court orders, attorney general
<br /> opiuions or interpretive letters concemin�tha Public heald�,safery,welfare,environment or a hazardous substance' and(2)
<br />-,� . : , Hazardous Substance mc,ans anY toxic, radioactiva or hazardous material, waste, pollutunt or contaminant w�iich has ` `
<br /> characteristics whic6 render the substance dangerous or potentially dangerous to tha publio health, safety, wolfare or ��:�_
<br /> � � � envimnraent. T6e term includes, without llmitation. any substances defined as "hazardous material," "toxic substances." �--
<br />�„���;;. -.�� "hazardovs waste"or'hazardous subscance"under any Environmental Lav�.
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<br />���. •�<�'; "• Trustor represents.warrants and agrees that:
<br />�=''''����;'.�:;�,;�. , A.Except as prevlously disclosed and acknowledgecD in writing to Beneficiary, no Hauudous Substance is or wlll be __ _
<br /> �'!;'k��� :•:";`r� ' locatal. stored or released on or in the Proneary. This resMcdon does not�pply ta small quaatities of Haza[dous _
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<br />�,r-. , Substaaces that are generally recognized to bc ap ropriate for the normal use u��t m�inttmance of the Property. -
<br /> ..; , g,g.xce t as prtviously disclosed and acknowlcdg�in writing to Beneficiary,Trustor and every tenant have bcen,are,
<br />�.:'��. ° and s�all romam in full compliance wlth any applict►btc Environmental Law.
<br /> l=^ � ��� . C.Tnutor shull immedtately notify Beneficiary if a release or threatened release of a Huzardous Substance occurs on,
<br />-`:..�`+,� under or about the Property or there is a violation of any Environmental Law wnneming the Propeny. In such an
<br /> - °�'"'' event,Trustor shall take all necessary remedial action in accordance with any Enviranmental Law. _
<br /> F D.Trustor shall immediately notify Beneflciary m writin as soon as Tn�stor hes reason to believe there is any pending _
<br />>��,~� or threatened invesNgation, claun, or proceeding re�ating to tUe release or ttwatened celease of any HazarAous
<br /> ��� Substance or the violadon of any Environmental Law. -
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<br /> ,,,.:;;. 1• - l8. CONDEMNATION.Tcuator will give Benaficiary prompt notice af tmy penclin�or tlueatened action,by prlvate or ublic �_��_�.._ _
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<br /> .:} �•• ;�..�; entities to uurchase or take any or all of tha Property through condemnation,emmr,nt domain,or any other means. Nstor �.,�,,��,� --
<br /> bed aceions or claims. Trustor assigns to �a�=
<br /> • •��`•••::'; 1 4 8Ut116TIZC8 Beneficiary to lntervene in Trusror's name in any of the above desc:i � . .-_�:_,
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<br /> 1•' Beneficiary the proceeds of any award or claim for damages conue�ted with a wndemnation or other takin o or any
<br /> ' • � part of the Prope . Such proceeds shall be considend paym,.n�s and will be applied as provided in this Security : �_,•�}��,��
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<br />__.. � : , 4tstrument.This assignment of proceeds is subject to the terms of any prior mortgage,dced of mut,security agreemeni or _,5_��-_.___
<br /> , ,„�.. � other lien document. :.:.�:,.�_
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<br /> :,�:,;,; . � • 19. INSURANCE.Trustor shal]keep Property insured agaenst loss by fite,flood,theft and other hazards and risks reasonably ' ,;•.;�.
<br /> • ' associated with the Property duc to its type and locauon. This insurance shall be maintained in thc amounts and for the
<br /> . .:_..,.
<br /> � periods that Beneficiary requires. The insuc�ne$ eaericr providin the insur:uux sLall be chosen by Trustor subjeet to ��
<br /> _ _• _ I Beneficiary's approval, whtch shull not be untra�onably wrothhe��•Tm nt�r Renefc{aN S�LU44 a�die Propergty acco di g
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<br /> to the terms of th�s Security Instrument.
<br /> ' � All insurance policies and renewals shall be aceeptabte to Beneficiary and shall include a standard"mortgage clause'and, .
<br /> - � where applicable, "loss payee clause.' Trustor shull immediutely notify Beneficiary of cancellation or termtnation of the
<br /> insurance. Beneficiary sh�il have ehe riglit co hold the pulic�es and renetivals. If Beneficiary requires, Trustor shaii
<br /> � �� immediately give to Becseficiary all mceipts of paid prem�ums und rene�val notices. Upon loss, Trustor shall gi:e
<br /> immediate notice to the insurance carcier acid Beneficiary.Beneficiary may make praof of loss if not made immediately by
<br /> Trustor.
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