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<br />- exccuted for the purpobe uf�crnating.sccuring or guarnntying thc Sccurcd Dcht. A gcwd~fnit�bclicf b��l�dcr that
<br /> I�:ndcr nt any Nme is insrcure with respect to ony Ex:rscro or entity obligatcd nn ti�e Sccurcd Dcht or that the prc►spect
<br /> of any payment ar the vtiluc of thc P�nperty is impaired shnll idxi constitutc an eve�t of dcf:�ult.
<br /> IS. REMFDiFS ON DEM�i►UL1.In samc instanccs,fcilcral imd statc law will rcquirc Lcndc:r to pruvidc GrHntor with
<br /> nolicc of thc right tu cure or othcr nolia�s and may cstablish timc schcdulcs for forcl�surc actions. Subjcct to thccc
<br /> limitntians,if any, Lender may accelernte the Secured 1)ebt and foreclose this Secudty Instrument in:► manner
<br /> pruvidcd by law if t3rantor is in defauU.
<br /> At the option of I.ender,all or any part of thc agrced fecs and ch�rgcs,accrucd intcrest��nd principal shall t►ccame
<br /> immedintely due and payable. after giving notice if rcquired by law, upon the accurrance of a default or anytime
<br /> thercafter. In addition,Lendcr shall be entitled to all the rcmedics provideJ by la�v,thc terms of the Secured Debt,
<br /> this Security Instrumen¢and any rclated documents,including without limitation,the power ta sell the Property.
<br /> If there is u dcfault.Trustec shall,in addition to any othcr permittc:d remedy,at the request oF the l.ender,advertiso
<br /> and scll the Property as a whoie or in separate parcels at public auction to the highest bidder for cash nnd convey
<br /> ubsolute titic fccc aad clear of all right,title and interest of Grantor at such timc and placc as Trustcc designates.
<br /> Trustee shal!give notice of sale including the time,terms and place of sale and a dexription of the property to bc sold
<br /> as required by the applicable law in effect at thc time of the proposed sate.
<br /> Upon salc of thc pro�erty and to ihe extent not prohibited by law,Trustce shall make and dcliver a deed to thc Property
<br /> sold which conveys absolute title to the purchaser,and after frst paying all fees,charges and casts,shall pay to L.ender all
<br /> moneys advanced far rcpai�,taxes,insurance,liens,assessments and prior encumbrances and interest thereon,and the
<br /> principal snd interest an thc Secured Debt,paying ttie surplus,iF any,to Grantor.L.ender may purchase the Yroperty.
<br /> 'The recitals in any deed af conveyance shatl be prima facie evidence of the facts set forth therein.
<br /> All remedies are distinct,cumWative and not exclusive,and the Lender is ent9tled to all rernedies provided at law or
<br /> cquity,whether or not expressly set forth.The acceptance by L,ender of any sum in payment or partial payment on tbe
<br /> Serared Debt aher the balance is due or is acceleratec!ot n�ter foreclosure proceedings are filcd shall not constitute a
<br /> waiver of Lender's right to require complete cure of ac�}�uist9ng default.By not exercising any remcdy on C,rantor's
<br /> default,Lender does nat waive Lender's right to later consider ihe event a default if it continues or happcns again.
<br /> 16� EXPENSES;ADVANCES ON COVENANTS;ATTQRNEYS' FEES;COLLEC1iON COSTS.Excepl when
<br /> pcohibited by law,Grantor agrees to pay all of Lender's expenses if Grantor breaches any covenant in thi5 Sccurity
<br /> Instrument.Grantor wiit also pay on demand any amount incurred by Lender for insuring,inspccting,preserving or
<br /> otherwise protecdng the Property and Lender's security iuterest.These expcnses will bear interest from the date uf
<br /> the payment until paid in fu11 at t6e highest interest rate in ef[ect as provided in the terms of the Secured Debt.
<br /> Graaiur agiees;o pay alj cos[s and expenses�ncurred by Lender in oollecting,enforcing or prMecting I.ender's rights
<br /> and remedi�,s an�er this Security Instrument.This amount may inc3ude,but is not limited to,attameys'fees�court
<br /> costs,and at�ncff�egal expenses.This Securiry Instr�ment shaU remain in eifect until released.�.xantor agrees to pay
<br /> ,fi��any reoarclation cc�sts af such release.
<br /> 1T. �.'4r'�R0IVMEM'AI.LAWS AND HAZARAOUS S��STANCES.As used in this scction,(1)Environmental Law
<br /> mcans.without limitation,the Compreh�nsive�nvi.ronmental Response,Compensation end Liability Act(CERCLA,
<br /> 42 U.S.C. 9601 et seq.). and all other federal,state and local laws,regulations,ordir�ances,caurt orders,attomey
<br /> general opinions or interpretive lette�conceming the public health,safety,welfare, environment or n haznrdous
<br /> �ubstance; and (2) Hazardous Substance means any toxic,radioactive or hazardous material. waste,pollutant ur
<br /> contaminant which has characteristics which render the substance danger.ous or potentially dangerous to the public
<br /> health,safety.wetfaze ar environment.The term incluci��,without limitation.any substances defined as"hazurdous
<br /> material;'"toxic substances,""hAZardous waste"or"hazardous substance"under any Environmental Law.
<br /> Grantor repmsents,warrants and agrees that:
<br /> A. Except as previously disc�osed and acknowledged in writing to Lender, no Naxa�dous Substance is or will be
<br /> located,stored or released on or in the Pro�rty.This restriction does �ot apply to small quantities of
<br /> Hazardo�x SuMtances that are generally recognized ta be appropriate for the normal use and maintenance of
<br /> tMe Property. • ,
<br /> B. Hxcept as previously disclosed and acknowledged in writing to Lender,Grantor and every tenant have been,are,
<br /> aad shall remain iin full complianoe with any applicable Environmcntal Law.
<br /> C. Granta shall immediately notify Lender if a mlcase or threatened releasc of a Nazardous Substance oocu►s on,
<br /> under or about the Property or there is a violarion of any Environmental Law conceming the Property,In such
<br /> an event,Grantor shall takv all necessary remedial action in accordance with any Environmental i.aw.
<br /> D. Grantor s4�a11 immediately notify Lender in writing ns sooR as Grantor has reason to believe therc is any
<br /> pending or ttueatened investigation,claim,or prooeeding rcttat4ng to thc rclease or threatHned relcuse of any
<br />- Hazardous Sulrtautce or the violation of any Environmental Law.
<br /> 18. CONDEMNATION.Grantor will give Lender prompt nniicc of any pending or threatened action.by private or
<br /> pub➢ic entities to purchasc or take any or all of the Prn,perty through condemnntion,eminent domain,or any other
<br /> iucans.Grantor authorizes L.ender to intervene in Grantor's namc in any of the above de�rribed actions or claims.
<br /> Grantor assigns to Lender the proceeds of ar�y award or claim for damagcs connccted with a conde�nnation or other
<br /> taking of all or any part of the Property.Such proceeds shall bc considcred payments and will be applicd as provided in
<br /> this Securit�Instrument. 'This assignment of proCeeds is subject to the terms of any prior mortgage.deed of trust,
<br /> security agreement or oWcr licn document.
<br /> 19. INSI.IRANTCE.Grantor shall keep Property insured against loss by tire, flooci,theit and other hazards and risks
<br /> reasonably associated with the Yroperty due te its typc and location.'Ihis�nsurance shall bc muintaincd in the amounts
<br /> and for the periods that Lendcr requires.'Ihe insurance carrier providing the insurance shall be choscn by Grantar
<br /> subject to Lcnder's approval,which shall not be unrea�nnahlv u,;fhh��d if(:ront��f.�:lo►..�...:.....:_ .�_ __
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<br /> described above,I.endcr may,at Lender's option,obtain coverage to protect Lender's ri�ts in the Pro�x:rty according
<br /> ta the terrtts of this Security Instrument.
<br /> All insurence policies and renewals sha(I be acceptable to Le:nder and shall include a standurd"mortgage clau�"anJ,
<br /> whcrc applicablc,°loss paycc clause;:' Grantor shr�ll immcdiatcly notify l.�ndcr of cancelL�tion or tcrminution of thc
<br /> insurance.Lender shall have the right to hold tt�e policics and rencwals.lf l.ender rcyuires,Grantor shall immediately
<br /> give to Lcnder all rcacipts of paid premiums and rencwal notiocs.Upon los�r•,Grantor shall give immcdiate noticc to
<br /> thc insurancc�;arrier and Lcnder.Lendcr may make proof of loss if nut madc immediately by Grantor.
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