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<br /> 14. DEFAULT.Trustor will be in defuult if nny party obtigstcd on thc 5e�ured Debt fuils w mnke puy�aenc whea due.Tcustor
<br /> ' will be in default if a breach oacuts under the terms of thie Secudty Instrument or nny other document executed for the
<br /> • • pu�pose of cmuting securlag or guarantyiag the Secured Dcbt. A good fnittt beilef by Bcneliciory thnt Beneficiary at any '
<br /> etme ie irusecure wIt�respeot to any petson ar entity o�itgated an the Secured Qebt ar that the pmspest of Any paymau or
<br /> � , the vnluo of the Property 1s impaired shnq also coaetitutc tin event of defuult. �•
<br /> .. � 1S. REMEDIES ON DEFAULT.In some instunoes.fodetN and xtete law wfil requlre Beneflciary to provido Truetor with . ,
<br /> aotice of the right to cure or otber notices nnd may establish tUne schedutea for foreclosure ectlons. Subj ect to these ,
<br /> �� limitatians, if aay Beneftcisry may aocclerate the Secured Debt end foreclose tbis Securlty lastrumem In a mnpner
<br /> :. •�-� pmvided by law it sCrustor is ia default. "
<br /> M At the opdoa of�enefic�r aU or any part of tbe agreed fees and charges�acctued interest and principal shall become � ,
<br /> immcdlatety due und payable. after iv�ng notice if required by taw, upoa ttte occurrence uf a default or any�m e .
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<br /> thecpaRer.In addltlan. BenetIciary�be entitlod to all the reroedlea provlded by taw,the terra9 of the 5ecured bebt. :;;_':;+
<br /> this Security Insuument aad any related documents,including without lfrnitstiAa.the��ower ro s�ll�he Property. •.:.•��__
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<br /> If there is a default,Trustee shall,in additioa to eny other permitted remedy.at fh�rcquest of the Benefictary.2dvertise � -_
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<br /> �`+. aad sell the Propea¢y$s a wrEcote or in s��arate Is at ublic auction to the highest bidder for cash and couvey ab�luce :.� .t;.
<br /> • tltle freee and�lear�f alll ' � D p �°'�''�. . . ��_.'
<br /> fr ry;@t,aede�ad c�ccresa of'�xvstor at sush timts and law as Trustce desi Truszce skral'1 give
<br /> � ':� notice of eale ins4nadin8 t�eiror�.tea�o�aut�p1l�e a�g e�C�and a descdption of the PYOpertY w be sa��d es �+eq�ire�0y tlt. �_w,:,,,."
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<br /> - . -.:_TT aPPllcable law 9n effect�t 4Eae tie�e of the propes�d sa!¢. •.; ,�'';�„':.--..
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<br /> � Ugon sale of the properiy and 4a the extent not roluDited by law Tmstee ahall rna�ie and deliver a deed to�4e�lPtoperty ,..{;z,
<br /> � sold which coaveys absolute dtle to the pum�aser, aad after�irst paying aU fePS. charges and costs. shailpa Y to , ..__
<br /> � BeneficIary aU moneys advanced for repairs. taxes. Insurance.lieas. assessments and prior encumbraaces and interest � �,
<br /> thereon, and the prlaci al and interest on the Secured Debt. payiug the sucpins, if any. to Tcustor. Beneficiary may
<br /> .=t:�`�•'�, purchase the property, �e mec;tats in any deed of convegaace shall be prima facie evldence of the facts set forth thereia. 't;;�-.-
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<br /> � :� �;=�.a><.�;.. pu re�dies ate disdact,cuantelative and not exclusive. pmd the Beneficiary is eatided to aU remedies provided at law or y�:
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<br /> ,.�,�„�;•.;. ,:�,� equity,whether or not expi+essly set forth.'!he aax�etau�by Beneficiary of any sum in payment or partlal payment on the � ,�s
<br /> r i�1.��'#. Secured Debt atter the balance ia due or is accel�sat�fl or after foreclosure proceedings are filed shall not coastiwte a •^.�
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<br /> ' waiver of Beneficiary's right to require com4Plete cenae af aaY existing default.By aot exc�rciains any remedY on'IYustor's yY"_
<br /> ����� 2 default,BeneRciary does not waive Beneficiary's ri�tu to later cons�der the event a default if it contlYnues or happeus again• -�,,—
<br /> 1';:1 fKl� �K_ iF;1cIpFN3FS• ADVANCFS ON COV�NAI�T4'S; A'Il'a'ORNEYS' FEESi COLL�ON COSTS. Except when -
<br /> . �.,r.;:';:::��e` ' Tivstor agrees to gay t�l ot l�enetici 's exprusrs if Ti�ioi br�acb�s aay cavenaat 3n shis Sesvrity �'c�': ._
<br /> , z�hibited by�law, �
<br />- . r;�c,,.,.c:,.i� � . reserv or ��_—
<br /> ,,,�,:��r:6 �t.'IIYtis3or v+ill also pay on de�z�nd aay amount curred by Beneficiary for insuring I�ecting p �.�.
<br /> � .�+�1.. � otherwlse pnmiec���►g the Property aud�zfir.iary's secudty iaterest.'fl�ese expenses will bear�nterest from the date of the �..�
<br /> - ' payment uati&pt�i�l ia ti�11 ai the hi8hest imterest rate in effect as provided in the terms of the Secured Aebt.Trustor agcees ____
<br /> ,,js;.. . w pa all costs and eagenses incurred b�y�Beneflciary ia oollecting. enforclag or protecting Beneficiary's rights and
<br /> :, • .. ` re�ies under this Sec,w�cnY insuument. This amount may include,but is not limited W.attoraeys' fees, court o�fts,�d
<br /> ',,.;�`;':%:':`'' other 1egel expenses. This S�ce��ity Insuumeat shall remain !n effect until released. 'hustor agrees w I�Y Y —�-
<br /> .. ;:` re�ordatioa costs of such release. -°`—
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<br /> . 17. ENVIItONN�NTAL LAW3 AND HAZARDOUS SiJBSTANCE6. As used in this sectioa.(1) Envimnmental Law �_�_
<br /> a�eans. without limitat[oa. the Compreheasive Bnvironmentel Response.Compenseiloa and LlabiUty Act(�C�Y 8�� �° .
<br /> • � U.S.C. 9601 et seq. . and all other federat.atate and loeal laws, reguladons.ordinances.court orders. -__ -
<br /> o�pinions or inteip�ve l�s conceming the public health�eafery. :+elfare.enviraumeat or a ba�ardous substanoe:and(2) -
<br /> � I�fazsrdous Substance means any toxic, radioacdve or hazardous material, wasta. po Uutant or contatniaant which has __, -�
<br /> � .. - characterlst[cs w �rejnclud e.w�ithout lim�itagti n.an r su�b�stances deflnged as "haza�rdou�ablic�healW,�to�c substences," _--
<br /> eavironmeni.The
<br /> � ' "hs77ardous waste"or"htv.�rdous substaace"under any nvironmeatel Law.
<br /> ;:�sb'," Tzustor�ts.watt�nts and agc�ees that: _=_„
<br /> . '�i;:';:s,: � A.Bxapt as previously disclos�d end acl�owledged in wridng to Beneficlary.no Hazardous Substance is or wiit be �r;:_
<br /> locatcd,stored or released on or in the Pmperty. 'lliis r�riaion dces not ap Iy to small quaaddes of Ha�ardous __ ___
<br /> ' Substances that are generally reco�nized to beapproprlate for the normal use�maintenance of the Property. 61_._.--
<br /> " B. �oepi a��s prevtoasly disclose�and acknowledged in wri�to Beneficiary.Tcustor and every tenant have been�are.
<br /> - , aaB d s]�all retaain ia full compliaace wlth aayapplicable Envlc+onmental Law.
<br /> ,.a�. N C.Tivator shall immediately notify Beneti�y if a release ar threateaed release of a Hazmrdous Slibstaace awurs on,
<br /> y,.:,.,,,.: , under or about the Pmpe iy or there is a vlolsdon of aay Environmental Law conceming the ProPartY.&►such e°
<br /> . .:�. � eveat.Tcustor sball teke neoessary rewedial action in a000rdance with any Environrneatal Law. ���:_;
<br /> M � D.Tcustor sball�dtauly notify Beaeftciary in wrltin$a�s soon as Trustor hns ret,soa ta��e3ieve there is any peadiaB
<br /> ,, •�''�;� or threatet�ed investigetion. claim, or pmc�eding �elann8 to the rclease or t�� release of any Flazerdous - ---
<br /> � Substaace or the vtolation of aay Environmeatal Law• — _
<br /> .:t F��:p< � 18. CONDE1VdNATION.Trustor will give Beneficiar�+prompt aotice of any pendin�ar threateaed adion.by private or public ` .�r;�.
<br /> �;�`; eatides to purc�ase or take any or atl of the Property thmugh condemnation.eaua�u�domala,or any other mesus.lYuswr ��t'-_-,-
<br /> '. ; authorfzes�neficiary to it►tervene ia Tcustor's aame in any of the above describ�d ac�ons or claim4.1Yustor assigos w ''-;;r__�;:
<br /> Beneficaary r�.°paoceeds of aay awaM or claim for damages connected with a co�►demnadom or othec taking of all or any ��;u���---
<br /> � of t4�e pc . Such proceeds sball �e considered paymeats aad wili be applied as provided in this Securlty :" -._�
<br /> �,"1(yl��gnment of proceeds is subject to the terms of any prlor mortgage,dced off arus:.security a�reemene or ' ��',w`:'�`.��y
<br /> cst�el llnar►��rat. �._
<br /> ``" l r,� insured aba�wt toss by fire.flood.e&�e ar.d other hazaz�ds aa�l raakCS s�asonably
<br /> `- Il4�. (L�'�'�JIl�A�T�.'II'mse.aa s..�i!keep Property ,,�:, � -
<br /> � � � associat�a�c¢h�ce�'�y due to its type and locatioa.'ILis lmsuraace shal&mz�aiatained in the amov�r.a mad for the ,
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<br /> � dods t�zu �ir•.a�ftciar}' re�u 'llie insuraace carrier providi� elhe insuraace s�all be chosen by TNStor subject to - .
<br /> � _ •....� �,�...�t .yh�c]��st�ati nnt be unreasonablY wit�t�E�. IIY Trusta+r fails to maiatain the �erage des�ilse� . '„
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<br /> . above, Bene�a a ry iaaY, at Beneficiary s option�ObiBIII ooVes2$e Co�¢�as'��ciary's rignia iu wc r�o�.��� ..ri........a - - - .
<br /> . � ,. ' to the terms of ttus�rzy I n s u u m�e n t•
<br /> All ias�uancepolicies and renewats ehall beacaepta�ble to Beaeflciaa�+and s9aID i�actude a standard "morcgage clause" and. .
<br /> wrhere applicable. "loss pay�e�e clause." Truswr sball immediately aaufy Benefic�ary of canceUadon or tertttinatiott of the •
<br /> iasnrauce. Beneficiary shall have the right to hold the policies and renewals• �f Beaeficiary requires. Tmswr shall
<br /> • immediateiy �ive to Beneficiary all reoelpts ofpaid pre�niums end renewal notic�. Upon loss. 'l�ustor shall give ,
<br /> immediate aot�ce co the insurance r,arrier aad iterteticiary BeneRcfarY may ma�Ce proof of ioss if not made immedtatelY hY
<br /> ' 1Yustor.
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