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<br /> exccuted for tlic pur�sose af crealing,sccuring or guarnntying the Sccurcd Dcbt.A good faith belief by Lender that
<br /> I.�nder at sny time is insecurc with res�cct to nny person or entity obligatcd on thc Securcd Dcbt or that the prospec.
<br /> of any payment ar the value of iha Prop�;rty is i!npnired shull�Iso constitute An event of default.
<br /> 1�. REMEUIES ON DEFAUI,T. ln sotne instarsces,federnl and stntc IAw will require Y.ender to provide Grantor with
<br /> notic.e of the right to cure or other n�tices nnd may cstablish time schedules for forcclosurc uctions.Subjcct to these
<br /> limitutions, if any,Lender may nccelerate the Securecf Debt and foreclose this Security Instrument in a manacr
<br /> pravidcd by lalti•if Cirantor is in dcfault. .
<br /> At the aption of I.ender. all or nny pArt of the agreed fees and ch�rges,accrued interest and principal shall become
<br /> immediately due and pAyable. after giving notice if required by li�w. upun the occurrence of a default or anytime
<br /> thercaftcr.In addition,I.cndcr shnll bc cntitled to all thc remcdics provided hy luw,the terms of thc Securcd Debt,
<br /> this Security Instrument and any related documents,including without limitatian,the power to sell►he Property.
<br /> If there is a default,Trustee shall,in addition to any othcr permitted remedy,at thc requcst of tlia Lender,advertise
<br /> and sep the Property as a whole or in separatu parcels at public auction ta thc highest biddcr for cash and convey
<br /> absolute title free and clear of all right, titlo and intorost of Grc�ntor At such time and pluce as Trust�e designates.
<br /> Trusteo shall givc notiee of sale includin�tho timv,torms and plF�co af sale and�deseripticrn af tlia property to be�olc!
<br /> as reqtured by tho applicuble law in effGCt at the timo of dio proposed sale.
<br /> Upon salc of the property and to tho extont not prnhibited by lr�w,Trustce shall makc and duliver a deed to the Property
<br /> sold Nhich conveys absolute title to tho purcl��ser,and after first paying all fees,charges and costs,shall pay to Lender all
<br /> moneys advanced fnr repairs,taxes,insuranoe,li�ns,assessments and prior encumbrances and interest thereon,and tlie _
<br /> principal ancl intorest on the Sccured Debt,paying the surplus,if any, to Grantor.I..ender may purchase the Property. _�
<br /> The recltals in any deed of conveyance shall be prima facie evidence of th�facts set forth therein.
<br /> All remedies are distinct,cumulativc and not cxclusive,and the�..ender is entitled to a!I remeciies provided at law or
<br /> equity.whether or not expressly set forth.T'he acceptance by Lender of any sum in payment or partiul paymtnt on the
<br /> Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shull not constitute a
<br /> wPivar of Lender's right to rcquire completc cure of any existing default.By not exercising ar�y remedy on Grantor's
<br /> de#nu�t,L,ender does not waive Lender's right to later consider the event a default if it continues or happens again.
<br /> 16. EX�'EN5ES;AnVANCES ON COVENANTS;ATTO�tNEYS' F�ES;C01.LECTION COSfS.Exccpt when
<br /> prohibited by law,Grantor agrees to pay all of Lcnder's txpenses if C,rantor breachcs any covenant in this 5ccurity
<br /> InstrumerU.Grantor wii! also pay on demand any am�unt incurred by Londer for insuring,inspecting,preserving or
<br /> othcrwisc protecting the Property and Lender's security interest. These expenses will bear intcrest[rom the date of
<br /> the payment until paid in full at th� highest interest rate in effect as provided in the terms of the Secured Debt.
<br /> �r�Y�Y��Pn�rn�,a�ail�ncr�nnei�x�,r..ncPC incurred hy l.ender in collectine,enforcine or pratectine Lender's ri�hts
<br />` and remedies under this Securlty Instrument.This amount may include, but is not limited to.attorneys'fees,court
<br /> • costs,and other legal expenses.This Security Instrurr_snt shall remain in effect until released. Grxntor agrees to pay
<br /> for any recardation costs of such release.
<br /> 17. �NVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES.As used in this section,(1)Environmental Law
<br /> means,without limitation,the Camprehensivc Environmental Response,Compensation and Liabllity Act(CERCLA,
<br /> 42 U.S.C.9601 et seq.), and all other federal,state and local laws, regulations,ordinanccs, court orders, attomey
<br /> general opinions or interpretive letters concerning the public health,safety.welfare,environment or a hazardous
<br /> ' substance;and (2)Hazardous Substance means any toxic,radioactive or hazardous material,wastc. pollutant or
<br /> wntaminant which has characteristics which render the substunce dangerous or potentially dangerous to the public
<br /> health,safety,welfare or environment.The term includes,without limitatian.any substances de�iied as"hazurdous
<br /> , material;'"toxic substances;'`•hazardous waste"or"hazardous substancc"under any Environmentaf Law.
<br /> Grantor represents,warrants and agrees that:
<br /> A. Except as previously disclosed and acknowledged in writing ta Lender,no Hazardous Substance is or will be
<br /> - located,stored or rcleased�n or in the Property. This restriction docs not apply to small quantities of
<br /> Hazardous Substances that are generally rccognized to be appropriate for the normal use und maintenance of
<br /> - the Property.
<br /> B. Except as previously disclosed and acknowledged in writing to Lender,Grantor and every tenant have becn,are.
<br /> • und shall remain in full compGance with any applicable Envirorunental Law.
<br /> . C. Grantor shall immediately notify Lender if a rclease or thrcatcncd release of a Hazardous Substance occurs on,
<br /> • under or about the Property or there is a violation of eny Envixonmental Law concerning the Property.In such
<br /> an event,Grantor shall take all necessary remedial action in accordance with any Environmental Law.
<br /> U. Grantor shall immediately notify I.ender in writin�us soon as Grantor has reasan to believc therc is any
<br /> '�• pending or threatened investigation,claim.or proceeding relating t�the release or threAtcncd release of a+�y
<br /> Hazardous Substance or the violation of any Environmental Law.
<br /> 1& CONDEMNAT[ON. Grantor will give Lender prompt noticc of any pending or thrcatencd�ction, by privatc or
<br /> public entitics to purchase or talce any or all of thc Property through condemnation,emincnt ddmnin, or any other
<br /> � mcans.Grantor authorizes Lender to intervcnc in Grantor's name in any of tlie above described actions or claims.
<br /> ` Grantor assigns to Lender th:. proceeds of any award or claim for damages connected with a condemnation or other
<br /> `• taking of all ur any part of the Praperty.Such proceeds shall be considered payments and will be applied as provided in
<br /> this Security instrument. 'I'his assignment of procceds is subject ta t��e tcrms of any prior mortguge,deed of trust, _
<br /> _ security ap,reement or other lien document.
<br /> • 19. INSURANCE.Grantor shall keep Property insured against loss by firc, flood,theft and other hazards and risks
<br /> • reasonably associated with the�Property due to its type aud location.This�nsurance shall be maintained in the amounts
<br /> and for the periods that Lender n;quires."I'he insurance carrier providing the insurance shall be chosen by Grantor
<br /> subject to L.ender's approval, which shall not be unreasonably withheld. If Grantor fails to maintain the coverage
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<br /> to the terms of this Security Instrument. °
<br /> All insurance policies and renewals shall be acceptable to Lender�md shall includc a standard"mortgage clause"and,
<br /> where applrcablc,"loss payce clause."Grantor shall immediatcly notify Lender of cana;llatiou cr termination of thc
<br /> insurance.l.,ender shall have the right to hold the policics and renewals.lf Lender requires,Grantor shcill immcdiately
<br /> give to Lcnder all receipts of paid premiums and rencw�l notices. Upon loss,Gra��tor shall give immediatc nuticc to
<br /> the insurnncc cnrricr and Lcnd�r.Lender may make proof of loss if nor madc immediatcly by Grantor. -
<br /> (pags 3 ot 4) -
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