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<< . � 20120094�
<br />11. � NVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section,
<br />1) Environmental Law means, without limitation, the Comprehensive Environmental Response,
<br />Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), and all other federal, state and local
<br />laws, regulations, ordinances, court orders, attorney general opinions or interpretive letters concerning the
<br />public health, safety, welfare, environment or a hazardous substance; and (2) Hazardous Substance means any
<br />toxic, radioactive or hazardous material, waste,,,pollutant or contaminant which has characteristics which
<br />render the substance dangerous or potentially dangerous to the public health, safety, welfare or environtnent.
<br />The term includes, without limitation, any substances defined as "hazardous material," "toxic substances,"
<br />"hazardous waste" or "hazardous substance" under any Environmental Law.
<br />Trustor represents, warrants and agrees that:
<br />A. Except as previously disclosed and aclrnowledged in writing to Beneficiary, no Hazardous Substance is
<br />or will be located, stored or released on or in the Property. This restriction does not apply to small
<br />quantities of Hazardous Substances that are generally recognized to be appropriate for the normal use
<br />and maintenance of the Property.
<br />B. Except as previously disclosed and aclmowledged in writing to Beneficiary, Trustor and every tenant
<br />have been, are, and shall remain in full compliance with any applicable Environmental liaw.
<br />C. Trustor shall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance
<br />occurs on, under or about the Property or there is a violation of any Environmental Law concerning the
<br />Property. In such an event, Trustor shall take all necessary remedial action in accordance with any
<br />Environmental Law.
<br />D. Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is
<br />any pending or threatened investigation, claim, or proceeding relating to the release or threatened
<br />release of any Hazardous Substance or the violation of any Environmental Law.
<br />12. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor
<br />' will not be required to pay to Beneficiary funds for taxes and insurance in escrow.
<br />13. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All
<br />duties under this Security Instrument aze joint and individual. If Trustor signs this Security Instrument but
<br />does not sign an evidence of debt, Trustor does so only to mortgage Trustor's interest in the Property to
<br />secure payment of the Secured Debt and Trustor does not agree to be personally liable on the Secured Debt. If
<br />this Security Instrument secures a guaranty between Beneficiary and Trustor, Trustor agrees to waive any
<br />rights that may prevent Beneficiary from bringing any action or claim against Trustor or any party indebted
<br />under the obligation. These rights may include, buf are not limited to, any anti-deficiency or one-action laws.
<br />The duties and benefits of this Security Instrument shall bind and bene�t the successors and assigns of Trustor
<br />and Beneficiary.
<br />14. SEVERABILITY; INTEI�RETATION. This Security Instrument is complete anti fully integrated. This
<br />Security Instrument may not be amended or modified by oral agreement. Any section in this Security
<br />Instrument, at�achments, or any agreement related to the Secured Debt that conflicts with applicable law will
<br />not be effective, unless that law expressly or impliedly permits the variations by written agreement. If any
<br />section of this Security Instrument cannot be enforced according to its terms, that section will be severed and
<br />will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular
<br />shall include the plural and the plural the singular. The captions and headings of the sections of this Security
<br />Instrument are for convenience only and are not to be used to interpret or de�ne the terms of this Security
<br />Instrument. Time is of the essence in this Security Instrument.
<br />15. SUCCESSOR TRUSTEE. Beneficiary, at Bene�ciary's option, may from time to time remove Trustee and
<br />appoint a successor trustee without any other formality than the designation in writing. The successor trustee,
<br />without conveyance of the Property, shall succeed to all the title, power and duties conferred upon Trustee by
<br />this Security Instrument and applicable law.
<br />16. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by
<br />first class mail to the appropriate party's address on page 1 of this Security Instrument, or to any other
<br />address designated in writing. Notice to one trustor will be deemed to be notice to all trustors. Trustor and
<br />Benefici�ry hereby request a copy of any notice of default, and a copy of any notice of sale thereunder, be
<br />mailed to each party at the address for such party set forth on page 1 of this Security Instrument.
<br />17. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead
<br />exemption rights r.elating to the Property.
<br />18. LINE OF CREDIT. The Secured Debt includes a revolving line of credit. Although the Secured Debt may
<br />be reduced to a zero balance, this Security Instrument will remain in effect until released.
<br />Security Instrument-Open-End-Consumer-NE
<br />VMP� Bankers SystemsTM
<br />Wolters Kluwer Flnenciai Servicea �7994, 2011
<br />OCP-REDT-NE 7/2/2011
<br />VMP-C4851NE) (11071.00
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