|
� � -
<br /> , . 'ia;
<br /> �., .. . . �� '�l�� .. �F?�it.
<br /> .. • . • - - � .��_rt.-,..
<br /> I � –_—'_
<br /> • �•l�`t'�t9'^
<br /> .. .��w•.�.
<br /> V`-
<br /> � � .
<br /> � �
<br /> � la. D��AU�.T.�rustor w��in cle�ult if:�ny pany obli fiaeed on the S�ecuced Debt fuils ta make paymen�wl�en due. Trustor ,
<br /> � w111: ba in dAsfaulr. if. a breach occura under tho terms of this Security Instrumerit or any other dacument executed for the
<br /> � pur�ose,af crcar.'.na, securing or guarantying the Secured p�bt. A good falth belief by Beneticiary that Beneficiary at any
<br /> � cun,�ig insecum wuh respcct ta any persoa or encity.obligated on pie Secured Debt or that the prospsct of any payment or ..
<br /> t the valur,af.�.�e Properry is impatred shall alsa constuute an event of default. . .
<br /> i 15. REM�DIES ON DEFAULT. In some instanaes, federal and staie law will require Bencficiary to provldc Trustor�vith _,
<br /> aotnce of. thc right to cure or other notiaes and may establlsh time schedules for foreclosure actions. Sub ect to these • . �
<br /> lim�ratiana, if any, Beneftciary may accclerate the Secured Debt and foreclose [his Security Instrument in a manner '�:�•
<br /> - � pravided.by law if Trustor is in defnult. . --...-..�'- .
<br /> .�.
<br /> At the e•�►�on of Beneficfary aU or any part of the a�reed fees and charges, accrued interest and principal shall become . , .:�,'r„
<br /> imnaediately due and payabl�,,uft�r givmg notice i required by law, upon the occurrence of a de�ault or anytime . •�y�;�,.
<br /> U�ereafter. In addition, Benefic�ary shall be entitled to all thc remedies pravided by law, the terms of the Securcd Debt, _��--_•__:—
<br /> this SNCUrity Instrume.nt and any related documents,including without limitation,the power ro sell the Praperty. . -----
<br /> It there is a defnult, Trustee shall. in addition to any other perrni�tea�remedy,at the request of the Beneficlary, advenise _
<br /> and sel� the Property as a whole or in sePazate pan:els at public auction to the highest bidder for cash and convey absolute
<br /> �;: ; �icle free and clear of all right, title and�nterest of Trustor at such time and place as Trustee designates.Tnistee shall give
<br /> "a �, aotxce af sal� including the time, terms and place of sale and a description of the property to be sold as required by the � ..
<br /> . �,i •� ap�alical�te law in effect at the time of the proposed sale. „
<br /> ;;;
<br /> , + Upon sale of the property and to the extent not prohibited by law, Trustee shall make and deliver a deecl to the Properry 4
<br /> . � sold which conveys absolute title to the purchaser, and after 6rs[ paying all fees, charges and costs, shall pay to ��
<br /> ' ' Beneficiary all moneys advanced for repairs, taxes, insurance.liens, assessments and prior encumbrances and interest t.;A,�
<br /> ` � � urshase the Pro e n�c�p e rand�st neASCny deed of conv yance shall be prima fa�e e'vidence of the acts set�forthlthenin.ay •y-=
<br /> P P rtY•'Ih .�'''�:�_-
<br /> ; ;,-t .,,•, ,i:
<br /> All remedies are distinct, cumulative aad not exclusive,and the Beneficiary is entltled to all remedies provided at law or
<br /> • �r�.�`e�,: equity, whether or not expressly set forth.The acceptance by Beneficiary of any sum in payment or partlal payment on the ,..-��: �
<br /> �, '� $ecured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a -*—
<br /> �•` � waiver of Beneficiary's right to require complete cure of any exlsting default. By not exercisimg any remedy on Tcustor's ���,•!.
<br /> � ' ,"��� default. Beneficiary dces not waive Beneficiary's right to later consider the event a default if it continues or happens again. "='�'"'�'
<br /> � ;
<br /> L �:v,��
<br /> ' � �+-,"�._,l 16. EJ�PENSFS; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COST'S. Except when �_
<br /> ;: ; � ..��,:5�1��., l�.,y, ��,gte,r a�ree.e tn pav all of Beneficiarv's eapenses if Trustor breaches any covenant in this Securiry _
<br /> ' .� � �nstrument. rI'rustor will also pay on deinand any amount incurnd by Beaeficiary for insnnn�, inspecting, preserving or
<br /> othenvise protecting the Property and Beneficiary's securlry interest. These eapenses will bear interest from the date of the
<br /> paymcnt until paid In full at the highest interest rate in effect as provided in the terms of thc Secured Debt.Tcustor agrees �
<br /> ' io pay all costs and expenses incurred by Beneficiary in collecting, enforcing or protxting Beaeficiary's rlghts and
<br /> remedies under this Sxudty Instrument. This amount may include, but is nat limited to. anorneys' f�es, wurt costa. and
<br /> �• other le�al expenses. This Securiry Instrumcnt shall remain m effect until released. Trustor agras to pay for any
<br /> - recordanon costs of such release.
<br /> � 17. E!VVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCl�:S. As used in this section, (1) Eavironmentai I.pw - �
<br /> ' � - � means, without limitatian, the Comprehensivc Envlronmental Res{�onsc, Compensation and Liability Act(CERCLA,42
<br /> �", U.S.C. 9601 et seq.), and all other federal, statc and local law�,regulations,ordinances,court orders. attorney general
<br /> opinions or inteipretive letters concerning the public health. safety,welfaze.environment or a hazardous substence:and(2)
<br /> Hazazdous Substana means any toaic, ra d ioact ive or hazardous material, waste, Ilutant or wntaminunt which has
<br /> charxteristics which render the substance dangerous or pocentially dangerous to ie public health, safery, welfare or
<br /> environment. The term includes, without limitation, any substances defined as "hazardous material," "taaic substances,"
<br /> 'liazardous waste"or"hazardous substance"under any Environmental Law.
<br /> Trusror represents,warrants and agrees that: :�~---
<br /> � A,Except as previously disclosed and acknowledged in writing, to Bcneficlary, no I-Ia�ardous Substance is or wlll be t;--
<br /> located, stored or released on or in the Propeny. This restnction does not apply to smnll quantities of Hazardous �
<br /> � Substances that aze generally recognized to be appropriate for the normal use and maintenance of the Property. ��:•----
<br /> � B.Except as previously disclosed and acknowledged m writin�to Beneficiary,Trustor and every tenant have been.are,
<br /> and shali remain In full compliance with any applicable Enviro�unental Law.
<br /> j C,Trustor shall immediately notify Beneficiacx if a release or threatened release of a Hazardous Substance occurs on. �';��.
<br /> ;�:,,� under or about the Properry or there is a vtolation of any Environmental Iaw conceming the Property. In such an �����_-_
<br /> � t event,Trusror shall take all necessary remediel action in aaordance with any Envfronmental I,aw. _ �-_
<br /> � D.Trustor shall immediately natify Benefictary in writing as soon as Trustor has m.ason to believe thcre is aay pending
<br />
|