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<br /> I�Nar�r E��r„vu,i!'3001
<br /> cxccuted far thc µ�r18YtNY uarantying thc Securcd Dcbt.A good fi►ith bclicf by l.c;ndcr that
<br /> I..cnder at uny tim rson or cntity obligatcd on thc Sccured Debt or th�t lhe prospect
<br /> of any payment or the valuc��f thc Property is impa3red shall also constitute an cvent of dcfAUlt.
<br /> l5. REMEDMES ON DEFAUL'I'.In sc�mc instanccs,fcderal and statc law will rcquirc I.cndcr to provide Grantor with
<br /> notice af the right to curc or other noticcs and may establish time schedules for foreclosure actions. Subject to thcsc
<br /> limitations,if any, I.ender may accelerate the Secured Debt and foreclose this Security lnstrument in a manner
<br /> providcd by luw if t',cant��r is ii�J�fault.
<br /> At thc option uf L.ender,al) or any part of the agrced fees and chargcs,accrued interest and principal shnll become
<br /> immediately duc and payablc,after giving notice if requircd by law, upon thc occurrence of a default or anytimc
<br /> ttiereafter.In addition,Lendcr shall bc entiticd to all the remedies provided by luw,thc ternti5 of the Secured Dcbt.
<br /> this Security Instrument and any rclated documents,including without limitation,the power tu sell the Property.
<br /> If there is a default,Trustee shall,in addition to a,ty other permitted remedy,at the request of the Lender,advertise
<br /> and scll the Property as a whole or in separate parcels at public auction to the hi�hest bidder for cas6 a[td convey
<br /> absolute tidc free and cicar uf a11 right.titic and interest of Grantor at such time and place as Trustce dcsignates.
<br /> Trustee shall give notice of sale including the time,terms and place of sale and a description of the property to be sold
<br /> as required by thc Applicrtblc law in eficct at the timc of the proposed salc.
<br /> Upon sale of the property and to the extent not prohibited by la�v,Trustee shall make and deliver a dccd to thc Property
<br /> sold which wnveys absolute title to the purchaser,and after first paying all fees,charges and wsGs,shall pay to Lender al!
<br /> moneys advanced for repairs,taxes,insurance,Gens,asses5ments and prior encumbrances and interest thereon,and the
<br /> principa!and interest on the Secured Dc:bt,paying the surplus, if any,to Grantnr.L.ender may purchase the Property.
<br /> The recitals in any deed of conveyance shall bc;pdmu facie evidence of the facts set forth therein.
<br /> All remedies are distinct,cumulutive and not exclusive,and the Lender is entitled to all remedies provided at law or
<br /> equity,whether or not expressly sel forth.The acceptance by L.ender of any sum in payment or partial payment on thc
<br /> Secured Debt after the balance is due or is accelerated or atter foreclosure proceedings are Cle:d shall not constitute a
<br /> waiver of I.ender's right to require complete cure of any existing default.By not exercising any remedy an Grantor's
<br /> default,Lender does not waive Lender's right to later consider the event a default if it cantinues or happens again.
<br /> 16. EXPENSES; ADVANCES ON COV�NANTS;ATfORNEYS'FEFS; COLI.ECTION COSTS.Except when
<br /> prohibited by law,Grantor agrees to pay nll af Lender's expenses if Grantor breaches any cavenant in this Security
<br /> Instrument.Grantor will also pay on de;mnnd any nmount incurred by L.ender f�r insuring,inspecting,preserving or
<br /> otherwise protecting the Property and Lender's security interest.These expenses will bear interest fr�om thc date of
<br /> the payment until paid in full at the highest interest rat♦e�in effect as provided in the terms of the fSe'"cured DeLbt.
<br /> VtalllVl$�IGGI tV Fli3�d��WJI�illt�GA�-C.t1�G�IIII.UIl��j'L.GI(�GI ht CA/SiCl;Itllb'�C/UUl(;4Ib'UI�IUICI:ItII�!a..s:11JCI�J Ilb'UtJ
<br /> and remcdies under this Security Instrument.This amount may include,but is not limited to,attorneys' fces,caurt
<br /> costs.an�othcr�cgal c;:pcnscs.Tl�is Sc�urity Instru�r.eat shalE renain in effect ur.iil rele�.ed.Grantor agrees to puy -
<br /> for any recordation costs of such release.
<br /> 17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCFS.As used in this section,(1)Fnviranmental Law
<br /> means,wiehout limitation,the Camprehensia�e Environmental Response,Campensation and Liability Act(CERCLA,
<br /> 42 U.S.C.9601 et seq.), ancl all other federal,state and local laws,regulations,ordinances,coun arders,attorney
<br /> general opinions or interpretive l�tters conceming the public health,safety,welfare,enviranmont or a hazardous
<br /> substance;and (2) Hazardous Substance means any toxic,radioactive or hAZardous matcriul,wastc,pollutant nr
<br /> contaminant which has characteristics which renc�cr the substance dangerous or patentiaUy dangerous to the public
<br /> health,safety,welfare or environment. The term uicludes,without limitation,any substances defined as"hezardous
<br /> material;'"toxic substances;'"hazardous waste"or"hazardous substance"under any Environmeatal Law.
<br /> Grantor�ept�esents,warrants and ag�rees that:
<br /> A. Except as previously disclosed and acknowledged in writing to Lender,no Hazardous Substance is or will he
<br /> located,stored or releused on or in the Property.This restriction does not apply to small quantities of
<br /> Elazardous Substances that are generally recognized to be appropriate for the nom�al use and maintenance of
<br /> the Property.
<br /> B. Except as previously disclosed and acknowledged in writing to Lender,Grantor and evcry tenant have been,are,
<br /> and shall remain in full ccimpliance with any applicable Environmental L,�sw.
<br /> C. Grantor shall immediately notify Lender if a release or threatened release of a Hazardous Substanoe oocurs on,
<br /> � under or abaat the Property or there is a violation of any Environmental Law conceming the Pruperty.In such
<br /> an evcnt,Crantor shall take all necessary rcmedial action in accordance with nny Environmental Law.
<br /> D. Grantor shall immediately notify Lender in writing as soon as Grantor has reason to bclieve there is any
<br /> pending or threatenerl investigation,claim,or proceeding relating to the release or threatened release of any
<br /> Ha�.ardous Substance or the violation of any Environmental Law.
<br /> , 1& CONDEMNATION.Grantor will give Lender prompt notice of eny pending or threatened action,by private or
<br /> public entities to purchase or take any or all of the�roperty through condemnation,eminent domain,or any othcr
<br /> mcans.Grantor authorizes Lender to intervenc in Grantor's namc in any of the above described actions or claims.
<br /> Grantor assigns to Lender the proceeds of any award or claim for damages wnnected with a condemnation or other
<br /> � taking of all or any part af thc Propeny. Such proceeds shall be considered payments anci will be applied as provided in
<br /> ` th:s Security Instrument. `fhis assignment of proceeds is subject to the tcrms af any prior mortgage,deed of trust.
<br /> " security agreement or other lien document.
<br /> t9. INSURANCE.Grantor shall keep Praperiy insurcd against loss by�re, flood,theft and other haiards and risks
<br /> reasonably associated with the Property due to its type and location.This�nsurance shall be maintained 3n the amounts
<br /> ? and for the periods that Lender reyuires.The insurance cacrier providing thc insuranec shall be chosen by Grantor
<br /> subject to Lender's approval,which shall not be unreasonably withhctd, If Grantor fails to meintain the covcraee
<br /> described above,Le.nder may,at C.ender's option,obtain coverage to protect L.ender's rights in the Property according
<br /> to the terms of this Security Instrument.
<br /> All insuranee policies and renewals shall be acceptable to C.ender and shall include a standard•'mortgage clause"and,
<br /> whcrc applicablc,"loss payce clausc."Grantor shall immcdiatcly notify IAndcr of canccllation or tcrminotion of thc
<br /> insurance.Lender shall have thc right to I�old the policics and renewals. If L�:nder requires,Grantor shall immediately
<br /> give to L.ender all receipts of paid premiums and rencwel notirrs. Upun lou,Grantor shall give immediate notice to -
<br /> the insurance carrier and Lcnder.Lender may makc prnof of loss if not madc immediat�ly by Grantor.
<br /> , (pago 3 0�4)
<br /> OfYBIBeNNr�StiMrn�.Me.SI Clab.MNlt-EOUJ97•231t)FomiR60T�NE 6'y81 e•• •
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