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<br /> 14. DFFAULT.Trustot will lx j�p d�f�ult iF any pany obligatcd on thc S��:ured Dcbt Fails to mnkc paymcnt�vh�rn duc.Trustar
<br /> will Ix: in dcfault it a bmn�:h a:curo undcr the terfns ot this Sccurity instrumcnc or nny athcr dcx:umcnt cxc�:uted for thc :�•�;
<br /> purpose of creatiri�, sc�uring or guar�ntyipg�hr Sec:ured Debt. A gaxl Inuh lxliuf by Beneficiary thiit Deneticiury at cmy -�,: �•—
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<br /> timc is �nsc�cure wyth rdspect to any pereon or enflry ahUgat��t on thc S�tiun�f Qcbt or ihat the pros�x�:t of c�ny payrrxnt or , �,1.�;.
<br /> the vul�c of the Property is impaire d s h a l l a lso wnst itute nn even t o f d e f n u l t. �•�
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<br /> IS. RE11iEDIE3 ON DEFAULT. In some instAnces, f��dcrnl and stute luw will require BenefiGiary to provide Trustor with
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<br /> � notice oi thr riglit to cure ar oQicr natices :uid may cstablish time schk^dulev for fore+:losure actwns. Sub1cv:t to these ......�
<br /> i limiiatinns. if any, Beneficiary may accelerute the Sccurc�d Debt and foreclose this Si.�curity Instrunxnt in a manncr '
<br /> i provided by law if Trustor is in default. ' �_-__. _
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<br /> �� At ihe option of Beneficiary all or any Qarc of the asrer�d it�es and chargcs, accrued interest and pdncipul shall Fx�;ome , N
<br /> � immediately due and payable.,after giving notice if required by la��, upon the occurrencr of a default or anytime
<br /> thj SecuritlIIlnstdru�imentBand anyar lated documents�includi Sewi out limP'ttati n�the power�o sell the Property ured Debt, _ -
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<br /> , If there is a default,Trustee shall,in addition to any other permitted remedy, at the tequ�t of the Beneficiary,advertise _
<br /> and sell the Property as a whole or in separate parcels at public suction to the highest bidder for cash and convey absolute
<br /> ' � tttle free and clear of all ri�ht, title and interest of Trustor at such time and place as Trustee designates.'I'rustee shall give
<br /> natice of sale incduding the time,cersns and place of sale und a description of the property to be sold as required by the
<br /> ;, applicable law in effect at the time of the proposed sale. ` ,`
<br /> Upon s�le of the property and to the extent not prohlbit�d by law,Trustee shall make and deliver a deed to the Froperty ��`_-
<br /> : sold which conveys absolute trtle to the purchaser, and aft��r fir�t paying all fees, char�es and costs. shall pay to .
<br /> Beneficiary all moneys advanced for repa�rs, taxes, insurunce, li�ns, assessments and pdor encumbrances and interest .�,_
<br /> ' • � therean, und the pnncipal and interest on the Secured Debt, paying the surplus. if any, to Trustor. Beneficlary,may
<br /> purc6ase the Property.'Ihe recitals in any deed of conveyance shall be prima facie ev�deace of the facts set forth theretn.
<br /> ;<, All remedies are distiact,cumulative and not exclusive, and the Heneficiary is entitled to all remedies provided at law or
<br /> equity,whether or not expressly set forth.The acceptance by Beneficiary of any sum in payment or partial payment on the
<br /> '' Secured Debt nfter the balance �s due or is accelerated or aRer foreclosure proccedings are filed shall uot consdtute a w'
<br /> ��• waiver of Beneficiary's right to require wmplete cure of any existing default. By not exercising any remedy on Trustor's . .
<br /> default,Beneficiary does not waive Beneficiary's right to later consider the event a default tf it continues or happens�ain. ��Y:�'
<br /> � ib. E7iPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSI'S. Except when =
<br /> ��` prohibited by law.Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches any covenant in this Sectulty
<br /> _ lnsnument. Trustor will also pay on demand any amount mcuned by F3eneficiary for insurin�, inspecting. reser�in�or ----
<br /> � ottierwise protcedng the Property and Heneficiary's security inceresi.TItC1C 2A�IIS�S K'�;:b:.ar snserest from�P�?tP()_��P
<br /> � payment until paid in fiill at the dighest intcrest rate In effect as provided in the terms of the Secured Debt.Trustor agrees
<br /> � ' to pa all costs and expeuses incurred by Beneficiary in collecting, enforcing or protectin� Beneficiary's rigtets and
<br /> � re�es under this Security Inswsnent. This amount rnay include, but is not limited to,attoraeys' fees, court wsts, and
<br /> ' ;,;• otlxr le�al eapeases. This Security lnstrument shall remain in effect until releascd. Trustar agrees to pay for any
<br /> recordation costs of such release.
<br /> .� 17. ENVIROIVMENTAL LAWS AND HAZARDOUS SiJ85TANCES. As used in this section, (1) Eavironnxatal l.aw
<br /> 4 mcans,without limitation, the Comprehensive Envirorunental Response, Compensation end Liability Act (CERCLA, 42 n,,
<br /> U.S.C.9601 et seq.), and all other federal, state and local laws, regulations. ordinances, court orders, attorney gencral
<br /> �'' opinions or interpretive letters conceming the public health.safety,welfere,environmeat or a hazardous substance; and(2)
<br /> Harardous Substance means any toxlc, radioactive or hazardous material, waste, po llutant or contaminant which has
<br /> characteristics which render the substance dangerous or potentially dangerous to the public health, safety. welfare or
<br /> environment. The term includes,without limitation, any substances deimed as "hazardous material," "toaic substanoes,"
<br /> "hozardous waste"or"hazardous substance"under any Environmental Law.
<br /> TNStor represeats,warcants and agrees that: �
<br /> A. Except as previously disclosed and acknowledsed in writing to Beneficiary, no Hazardous Substance is or wUl be =
<br /> located, stored or released on or in the Property. This resuiction does not appl�o�ten�ance of the Pro f Hazardous __
<br /> S�bstanees that are generally rtcognizeci to be ap ropriate for the nom�al use and P�►'�Y• `
<br /> B. Except as previously disclosed and acknowledg�in wnting to Beneficiary,Trustor and every tenant have been, are,
<br /> and shall remain in full compliance with anyappllcable Environmontul Law.
<br /> . C. Trustor shall immediately notify Beneficiary if a rel�ue or threatened release of a Hazardous S�bstance occurs on, __
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<br /> ' under or about the Propeny or there is a violation of any Environmental Law conceming the Property.In such an _�-
<br /> - , event,Trustor shall take all necessary remedial action in accordance with any Euvimnmental Law. ��a.:.:•-.
<br /> D.Trustor shall immediately notify Beneficiary in writing as soon as Tnistor has reason to believe there is a�iy pending �� _ ,
<br />- . or threarened investigation, claim, or proceedtng relating to the releasc or threatened release of any Hazardous ,;, , � _
<br /> Substance or the violation of any Environmental Law. , l• a's,
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<br /> 18. CONDEMNATION.Trustor will ive Benefici ro t notice of an ndin or threarened action,by private or ublte _�� ':•.�"�'""�
<br /> S azY P mP Y,Pe $ .� � �, -
<br /> enuties to purchase or take any or all of the Propeny through condemnat�on,ertunent domain,or any other means. NStOf �r ��. s '
<br /> � au�horizes Beneficiary to intervene m Trustor's name in any of the above described actions or claims.Trustor assigns to '�_�Cr��,�.,•,,:4:: .
<br /> Beuefciary the proceeds of any award or claim for damages connected w9th a condetnnation or other taking of all or any �•�•�•:'-,,y,=;� •.
<br /> pan of the Pmperty. Such praceeds shall be considered payments and will be applied as provided in this Security . �
<br /> - Instn�ment.This assignn�ent of proceeds is subjes.t to the tem�s of any prior mortgage,dced of trust,se�urity agreement or
<br />� ather lien document. '
<br /> 19. INSURANCE.Trustor shall keep Property insured against loss by fire,tlood. cheft and other hazards and risks reasonably
<br />�. associaced with the Property due to its type and location. 'R�is insurance shall be maintained in We amounts and for the •
<br /> periods that Beneficiary re4uires. The insurance carrier providing the insurance shall be chosen by Trustor subject to
<br />' Beneficiary's approval, whicli shall not be unreasonably withheld. If Trust�r fails to maintain the coverage described • ..
<br /> � above,Beneficiary may, at Beneficiary's aption, obtain coverage to protect Beneficiary's rights in the Property ac:cording
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<br /> All insurancepo licies and renewals shall be accePtable to Beneticiaiy and shall include a standard "mortgage clause" and, �
<br /> where applicable, "loss payee clause." Trustor shall imme.*diately notify Beneticiary of cancellation or srnunation of the
<br />- insurance. Beneficiary shall have the right to hold the policies and rcnewals. If Bcneficiary reyuires, T►ustor shall
<br /> inunediately �ive to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give ;
<br /> _ irntnediate nottce to the insurancc carrier and Beneficiary. Beneficiary may make proof oF loss if nat made inntrcdiately by k
<br /> • Tmstor. �
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