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<br /> .. � ' executed fur the purpose of cr�atiag,seauiag or guarantying We Secured Deh�A gao faith be�ef�y Lender that
<br /> .-.-.�.{_:= ''.T T,. L e n d e r a t a�r t i r rt�i s i n s e c u r e a r i t h r e s p e�t to an y p erson or enp ty abli g ated aA the Seaued Debt or that tFte pmspett
<br /> � ° � of any payment or the vatue oi the Property is impaired shall atso oonstitute an event of default
<br /> �_ ��..$:"..<t;',`''� LS. �E1V�DIE�OPi D�IFAULT.In s+ome instaace.s.federal and state law m'Ij require Lender to pravide Grantor wiih _�
<br /> natioe of the right to cure or other notices and may esta6lish time schedules fos forectosure actions.Subject to these
<br /> � limitatians,if any,Lender may acceterate the Sectued Debt and foreclose this Secarity Iasaument in a maaner
<br /> '�. " provided by law if Craator is in defa�ilt. � :.
<br /> �.��: .�:�:. . �` �' At the option of Lender,all or ang part of tite agreed fees and charges,accnied interest and principal shari 6ecome
<br /> '' �:��� immediatety due and payable,after giving notice if required by law,upon the occurreace of a default or anytime _
<br /> - ---�- thereafter,ln addition.i.ereder sha116e enritled ta all ttte remedies provided by law,the terms of the Secured Debt,
<br /> �� `�'� "���:'_� t6ic Sec.urity Ins�r+iment and any related doc�mtents.including without limitation.the power to seD the Properiy. � .�::
<br /> � ; � .
<br /> �`�� �', .� ' If there is a defaul�Tsustee shall.in addition w any other permitted reme8y,at the reyuest of the Leuder.advertise
<br /> . and sell the Froperty as a whole or in separate parceLs at public audioa ta tfie highest bidder for casfl and amvey
<br /> ':' � • absoiirte ti@e free and ciear of all rig��titie and interest of Grantor at such tnne and place as Trastee designates. ����.,
<br /> . � •'° • Trustee shall give notice of sale inctuding ihe dme.terms and place of sale aad a desct'rption of the property to be sold .
<br /> ' : �.'.° � as reqused by the appticabte iaw in effect at the t�e of the proposed sdte. �.':
<br /> .`,��;;' Upon sate of the pmperty and to tite extent noi protn'bited by taw,Trustee shaT!make and deliver a deed to the Propetty 7�:>
<br /> '� ': '�°��� sold w6ich oonveys absolute title to the purc�aser,aad after 6rst paying all fees,charges aad costs,shall pay to Leader�
<br /> ,.:,�`;� '��. ' ���� moaeys advanced for repairs,taxes,insurance.liens,assessments and prior encumbrances aad interest Wereon,and c�e , �
<br /> � ."�` princ9pal and iat$iest on tiie Secured Debt,payi�the surplus,if aay,to Grz.�tor.Lender may purcbase We Property.
<br /> .���?4.
<br /> • - 'I'Eie rec'stals in any deed of oomreyance shari 6e gs�a facie eyidence of ttte f2�s set forth therein. ..t<u��.:
<br /> '. , qll remedies are ds�^�?camutatFCe and noi es:.Iusive.and th�I.ender.is ee�tled to aEi reaeedies pravided at law or �`��'�F`Y
<br /> ;�:;::�: .,.
<br /> � - ` � �;':�-°: �N�3+•�v�ether or nat expressl}sea ftmrth.'IY�e aoccptance by l.e�der of aay sum in pa�ent or partial payment an the ���
<br /> Secaured I?ebt after t�balance is�1��or is accelerated or after foreclosiue praceedings are fited shaIl nat constitu�.a 'y`.:�,-,
<br /> - [,�'... .
<br /> ':_._ � •� waiver of Lend��'s r�t to require camplete cnre of any eitisting default By not egerci�ng any remedy on Grantor's ��¢,..
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<br /> � defaWt,I.eader dces�t waive Lettder's right to tater consider the event a d�£ault if it continues or bappens again. ��c.
<br /> -,.,� .
<br /> � - i6. EXPENSES;ADVANCE�ON COVENANTS;ATTOItNEYS'FE�&;COLLECIION�OS'1`5.Except when
<br /> �. : prohibited by law,Grantor agrees to pay all af Lender's expenses if Grantor breaches aay covenant in this Security ''
<br /> �_
<br /> � . Instrnrnen�Grantor will also pay on demaad any amount incnrred by I.ender for insuring,inspecomg,preserving or �-
<br /> �- . - o4herwise protecting the Properiy.a�d I.eade�s sec�uity interes�These enpenses will bear interest from.the date of ��_.°
<br /> ' ` the payineat until paid in ful!at the t�ighest interest rate in effect as provided in the terms of the Secured Debi. ___
<br /> � . . G:aator agnees to pay all costs and expenses incuned by Lender in coilecting,enforciag or protecting Lender's rights _ -
<br /> .;�,:. and remedies under�his Security Instrument Tfris amount may inciude,but is not limited to,attomeys'fees,c�urt ==
<br /> ' casts,and other tega+eapeases.'IYiis Security Iastrument sh�l1 remain in effect unt�reieased.Grantor agrees ta paY
<br /> ,• .. .�,:.,� foz any reoordation oasts of sash retease. : •.. . �_
<br /> � �. . . 17. ENVIItONMENTAII.I.AW�AND HAZARDOUS SUBSTANCES.As us�d in tUis section,(1)Environmental L;aw
<br /> � � • means,�vithout l�itation,the Compie6ensive Euvironmental Response.Gaznpensation and laa6ility Aci(CERCLA, �--
<br /> 42 U.S.G 9601 et seq.),and all otlter federal,state and local Iaws,regulat"raas,ordinances,court orders,aU[oraey '
<br /> . �' � � ,: general opinions or imerpretive lette�s concerning the public heatth,safetp.weffaze.environment or a hazardous
<br />_ ' . -�•c: substanse;and(2)Hazardous Substance•means any toxic,radioactive or hazardous material,waste.pollutant or ---
<br /> oontaminant whicb has characteristics which render tAe substance dangerous or potentialiy dangerous to the public -.-
<br /> ---. -= heahl�,safety,WCfIi1fC UI CllYtl'UILktClll.The ternt inciudes,�tiihauL�utatiass,auy substances de6ned as"l�azard�s --
<br /> . , , material.""toxic substances.""hazardous waste"or"hazardous substance"�snder any Environsuental Law. ��
<br />: , Craator represents.wamants aad agrees tha� - -
<br /> . A. Exoept as previousty disclosed and acknowledged in writing to Lender,ao Ha7ardous SubstauCe is or will be -
<br /> iocated,stozed or released on or in the Property. Tbis resuiction daes not apply to sntall quantIties of
<br />- •.�.��_��; � tlazardous Substances that are generalSy recognized to be appra��iate for the�tormal�ase aad maiatennnce of .
<br />_ . . � � the Property. � -
<br /> •� � B. Except as previously disctosed and acknawledged ia writing to Leader,�3rantor and evesya tenant have been,are, F�```_.
<br /> . and shall remain in fuD compliance with any applicable�avironmental Iaw. � �. � ._
<br /> �� . � C. Grantor shall immediately aotify Lender if a release or threatened telease of a Ha7ardous Substanoe oocuzs on, �_
<br /> nnder or about the Property os thpre is a v.olation�f any Envirorunental Law conceming the Property.In such �,-
<br /> • . �� �'" : an event.Grantor shall take all neeessary remedial acti�n in accordan�with any Enviromnental Law.
<br />- • � D.�Grantor shall immediately notify Lender in writing as soon as Grantor has reason to believe there is any _.
<br />- . . � . geeding or threatetted investigation.claim,or proce�a3ing relating ta the releasa ar threatened release of any __-
<br />- . �.. Ha�rdous Substance or the violation of any Envira�n��ntal Law. --_-
<br /> � . � 18. CONDEiV�NAT[ON.Grantor will give I.ender prompt no:ice of any pending or threatened action,by private or �::..,
<br /> . � pvblic eatities to purchase or take any or all of the i'roperty through condemnation,eminent domain.or any other � ,__
<br /> . � means.Gtantor authorizes Lender to intervene in Grantor's name in a�ry of the above described adions or cTaims. -
<br /> "� '� (3rantor assigns to Lender the proceeds of any award or claim for damages connectsd with a condemnation�r oiher .-
<br /> �. taking of all or any part of the Properiy.Such proceeds shall be oonsidered payments and will be applied as provided in
<br /> '.. this Security Instrument This assignment of proceeds is subject to the terms of any pnor martgage,,deed of tr�s,
<br /> security agreement or other lien documenL ;, .
<br /> � � 19 INSURAKCE.Grantor shall kee Pro e insured a inst loss b fire,ftood.theft and other hazards and risks ��`'�
<br /> P F �Y� P� Y ,,�;
<br /> ' � . reasonably associated with the Propeny due to its type and tocation.This insurance shall be maintained in the amounts
<br /> - � � and for the periads that Lender requires.l'he ins�uance carrier providing the insurance shall 6e chosen by Graator
<br />-: �., ' subject to Lender's approval.which shaU not be nnreasanabty withheld.If Grantor fails to maintain the coverege
<br /> ,, describEd above.Lender may.at Lender's aprion.obtain coverage to protect Lender's rights in the 1'roperty ac�cording
<br />- � � to the terms of this Securiry Instrument.
<br />-- Ail insurance policics and reaewats shalf be aoceptable to Lender and shal!include a standard`•mortgage clause"and.
<br /> _ �,.� `� � where appticable,°toss payee clausc."Grantor shall immediately notify Lender of cancellatton or termination of the � .
<br /> - � �� .�•� • . insurancc.Lender shall have the right to 6o1d the policies and renewals.If Lender requires.Grantor shall imu:ediatefy
<br />.— ' . �ve to Lender alt receipts of paid premtums and renewal notices.Upon loss.Grantoi shall gve immediate notice ta ' �
<br />_ � � '�, the insutance carrier and Lender.Lender may make proof of loss if not made immediately by Grantor. � :
<br /> __ � � (paga3o14)
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