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<br /> , 14. DEFAULT.Trustor will be in default if:u�y party ob�ibured on die Secured Aebt fails n�make payment wlien duc.Tru,tor :
<br /> will be lu defuult if a breach�x;curs under clte temis oti this Securiry Instrument ar any uther d�x:ument executed far the � •�
<br /> �urp�»e,of creuting securing or gt►arantying die SecureJ Debt. A gaxl faid�belief hy BGneftciary that Benefici.uy ac any f
<br /> ume ts�nsecure wit�t respect tu any�enon or et�tity,ubligated on the Secured Debt i�r diat die pros�x:ct of any payment e�r �Y _
<br /> the vxlue nt che Property is inipaired sball alsn consutute an evenc af default. , '=,:;,:r�
<br /> 15. REMEDIES ON DEFAULT. !n some iiuu►nce�, fcderal and swte law will reyuire Beneficiaty tu provide Trust��r with _
<br /> I natice of the riglit tu cure or other nndces and niay establish time schedule+ for foreclasure actians. SUh�CCI IU IIICtiC •; :'�:p
<br /> liniit�tiuns, if any, Heneficiary may xcceleratc d�e Secured Debt and fnreclose this Security l��.ctrument in a mxnner ` �� _
<br /> ,,,,.„!- � provided by law if Trustor is in default. � � ��
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<br /> At thr optian of Beneficiary all or any �art of thG a6reed fr.es and charges, accrued interest and principal shall become ,y-�^�;, ,,,`:s,u._„
<br /> , immedixtcly due +u►d payable,.after g►vuig noti�:e it required by law, upon the a:currence of a default or anytime ,•. • t+ "'�� �+�.,
<br /> thereaftcr. In additian, Beneficiary shall be entitlecl to dl dir remedies provided by law. d�e terms uf the Secured Debt, ..�.;<�:�Tr_r�_v_
<br /> this Security Instrument and any related dacument�, including without limitaaon,the power to sell the Property. ;�M'w:-==-_ __
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<br /> If there is a default,Trustee shall, in nddidon to uny otlier pereuitted remedy, xt the reyuea�t of die Beneficiary,advertisa ___
<br /> ami sell the Praperty as a whole or in sepxrate parcels at public auction tu tlie highest bidder for cast►and cunvey absoiute ,;;,�-
<br /> title free and clear of all right, title and interest of Trustor at such tinie and place�.s Trustrx designates.Trustee shall bive ..:�,,�,,_: -
<br /> x. �
<br /> '� ` notice af sale iiicluding the time, ternis and place of sale :uid a description of t�e property to be sold as required by the ��_—
<br /> '� �� applicable law in effect at the time of t�r praposed sxle. _�—( – --
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<br /> Upon sale of the prapeny and to the extent not prohibited by law. Trustee shell uixke and deliver a deed to the Property �:.:;�
<br /> �� �old wtuch cnnveys ahsolute tide to the purchaser, and after �irst payinb all fees, charbes and costs, shall �ay to ",fi,��.
<br /> . Beneficiary all moneys adv:u�ced for repairs, taxes, ineurance, liens, assessment� and prior encumbrnnces and interest ,Y� _S,
<br /> therec�n, :uid the principal and incerest an the Secured DeHt, paying the su�lus,,if ttny, to Trustor. Beneficiary,may •��;
<br /> • �.:'< <- purchase the Property.The recitals in uny deed of conveyance shall be prima tacie ev�dence af the facts set forth therem. ;,���
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<br /> ��. All remeclies are distinct, cumulxtive xud not exclusive,and the Benefici is entitled te�all remeclies provided at law ar _`�;�h
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<br /> equity,whether or not expressly set forth.Tl�e acceptance by Beaeficiary o any sum in payment or part►xl payment on the _-:_
<br /> ' Secured Debt after the balance is due or is accelerated or after foreclosuce proceedings arc filed shall not consptute a ,_–__
<br /> waiver�f Beneficiary's rigLt to require coraplete cure of any existing de�ault. By not exenising any reniedy on Trustor's ,:i;�---
<br /> default,Beneficiary does not waive Beneficiary's rigbt to later consider the event a default if it continues or happei�s ugain.
<br /> ` 16. EXPENSES; ADVANCES ON COVENANTS; ATTORIYEYS' FEES: COLLECTION COSTS. Except when –�— -
<br /> _ _��;• �, pmhibised b° lssv, Trsssor aoree� ro pay all of BeneficlarV's expeuses if Trusror breaches ttny cavenant in this Security
<br /> Iiutniment. �'rustor will �lso pay on demaud any tnmount im:urred by Beneficlary for insuring, lil.l'pC�UUb,p�l�c�ja ar -
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<br /> ntherwlse protectin b�the Property and Beneficiary s security incerest.These expenses will brdr mtPrest from e date a the _
<br /> payment unul pxid in full at the highest interest rate in effect as pr�vided in the terms of tLe Securecl Debt.Trusror agmes
<br /> to pay ull ws[s and expenses ipcurred by Beneficiary in collecnug, enforcing,or protecting Beneficiary's ri�hts and �� _
<br /> remedies under this Securlty Insaument. This umount niay include,but is aot limited to,attorneys'fees, court cosls, :►nd
<br /> ather le�ul expeases. This Security [nstrument shall remain in effect until released. Trustor agrees to pay for any
<br /> recordauon cost�of such releas�.
<br /> � 17. ENVIItONMENTAL LAWS MiD HAZARDOUS SUBSTANCES. As used in this sect�on, (1) Bnvironmental Law {
<br /> means, wlthout linutation, the Comprehensive Environmeatal Response, Compensxuon and Liability Act(CERCLA. 42
<br />� U.S.C. 9601 et seq.), and all other federal, state xnd local laws. regulations,ordinances,court orders, attorney general
<br /> opinions or interp�uve letters conceming the public health,sxfery.welfare,environment or a hazardous substxnce;aad(2)
<br /> Hazardous Substance meaa, any toxic. radioactive or hazardous material, waste, po Ilutant or contaminant which has ----
<br /> churacteristics which render the substxnc:e clungerous or patentially dangerous to the public healsh, safety. welfare or
<br /> ' ' environment. The term includes, widiout limitapon, aay substances defined :u"hazurdous material," 'toxic substances,"
<br /> � � "li�zzardous waste"or'hazardous substance"under any Environmental Luw.
<br /> � • �
<br /> � •� Trustvr mpresents,warrants and ugrees thKt: -
<br /> � A.Except as previously disc:losed and acknowleciged in writing to Beneficiury, nu Huxrdous Substance is or will be
<br />= located, srored or mle:ued on or in the Property. This restricpon dces not apply m smdl quandties of Hazardous _
<br /> Substances that ure generally recognized to be appropriate for d►e nomuil use aad maintenancx of tlie Ptoperty.
<br /> B.Bxcept as previously disclased:u►d acknowledged in writin�to Beneficiary, Trustor and every tenant have been, xre, –
<br /> i� and shall remam in full cumpliance widi any applicable Envuoncnental L,aw.
<br />=' C.Tnutor shall inunediately nodfy BeneficiarY �f a releuse or threatened release of a Hazardous Substaace occurs on, �
<br /> - � � � uncler or about the Property or there is a v►olation of any Environmental Law concernins t�e Property. ln such an =
<br /> ' - event,Trustor shall wke xll necessary ren�edial action in accocdance with�ury Enviroamental Law. �_
<br />' D.Trusror shaq immediately notify.Beneficiary in writing�s soon as Tcustor has rcasoa to believe there is any pending :�_ ,
<br />. , or thre:►tened investigxtion, cla�m, or prnceeciing relating to d�e relea�e or threatened rele;we of a�iy Haurdous – �
<br /> , � � Substance or the violauon of xny Enviroiunental Law. --�--�"'
<br /> �' , 18. CONDEMNATION.Trustor will give Beneficiary prompt notice of any pending or threurened acuan,by private or public ,
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<br /> p entities to purchase ur tuke any ur all ot the Propeny through cundeui�wdon, eminent domain,or any other means.Trustor 2=''•�
<br /> authorizes Beneficiary to i��tervene m Tmsror's a�u►ie in any uf the above deuribed acdons or c(aims. Trustor assigns to �. µ, '�,
<br /> Beuefici;uy the proc:eeds of any award or cluini for ciamages wnnec:ted with a condemnation or other taki�� of all or any
<br /> part of the Property. Such pra:eed� shall be considereJ payment� xnd will be applied as provided in this Security .< ..••.
<br /> I�utrument.Tlus:usig�mient uf prucced�i�subject to the ternis ot any prior mortga�e, sleed of wst, securiry agreement or ��;i:r�`'. , ,i+�
<br /> � other lien da:ument. `�,. ."t{�`°;°;.
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<br /> • 19. INSURANCE.'I'nuror�hall keep Property ittsured agxin�t loss by fire,flood,theft and adi�r hazards and risks reasonxbly �, �;"i
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<br /> asscx;iuteci with the Property due to its rype anJ Iex:ation. This insuram:e shall t�e maintained in the :unounts and for the - . . :
<br /> �erials that Benefi�:iary re�uires. The nuurance carrier providin b� die insurance shall be chosen by Trustor subjeet tu "
<br /> ._._._ Benefici:uv'� approvxl, whtch shall nut he unreason�bly withheld. [f Tru�tor rails to maintain the coverage descnbed
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<br /> S})OVC. BCI1CflCtBCY Ill'dY. at Be��eficixry's vpnon, un[�m c�rvernge cu p[oia:i nouou�iriiy a�aguw w ua�..op...y ...,..........o - - -- - ------:
<br /> to che ternis of this 3ecuriry Instrument.
<br /> All i�uura�xepulicies anJ renewals shall be accept�ble to Beneticiary aud shxll include a st�u�dard"nwrtgage clause" and,
<br /> � � where applicable. 'loss payee clause." Trusror shdll immediately nottty Beneticiary e>f cxncellation ��r temunatiun of the
<br /> intiurdm:e. Benehciary shxll have the right tu hold the (x�licies and renew�l�. If BCIICttI'litf}+ requires. Truswr shall
<br /> inuuecliarely �ive a� Beneficiary all rc�:e�pts uf p�id premiun�s xnd renew�l �wtices. Upon loss, Tcuscc�r shxll give
<br /> immedixte nunce to the i►L,urance cxrrier and Beuehciary. Beneticixry may make pnwt uf loss it not mude immeJiately Ny
<br /> Trustor. ,
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