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201301473
<br /> At the option of Beneficiary,all or any part of the agreed fees and charges,accrued interest and principal
<br /> shall become immediately due and payable,after giving notice if required by law,upon the occurrence of
<br /> a default or anytime thereafter. In addition,Beneficiary shall be entitled to all the remedies provided by
<br /> law,the terms of the Secured Debt,this Security instrument and any related documents,including
<br /> without limitation, the power to sell the Property.
<br /> If there is a default.Trustee shall, in addition to any other permitted remedy,at the request of the
<br /> Beneficiary,advertise and sell the Property as a whole or in separate parcels at public auction to the
<br /> highest bidder for cash and convey absolute title free and clear of all right, title and interest of Truster at
<br /> such time and place as Trustee designates.Trustee shall give notice of sale including the time,terms and
<br /> place of sale and a description of the property to be sold as required by the applicable law in effect at the
<br /> time of the proposed sale.
<br /> Upon sale of the property and to the extent not prohibited by law,Trustee shall make and deliver a deed
<br /> to the Property sold which conveys absolute title to the purchaser, and after first paying all fees, charges
<br /> and costs.shall pay to Beneficiary all moneys advanced for repairs,taxes, insurance, liens, assessments
<br /> and prior encumbrances and interest thereon,and the principal and interest on the Secured Debt,paying
<br /> the surplus, if any, to Trustor. Beneficiary may purchase the Property. The recitals in any deed of
<br /> conveyance shall be prima facie evidence of the facts set forth therein.
<br /> All remedies are distinct, cumulative and not exclusive, and the Beneficiary is entitled to all remedies
<br /> provided at law or equity,whether or not expressly set forth. The acceptance by Beneficiary of any sum
<br /> in payment or partial payment on the Secured Debt after the balance is due or is accelerated or after
<br /> foreclosure proceedings are filed shall not constitute a waiver of Beneficiary s right to require complete
<br /> cure of any existing default. By not exercising any remedy on Trustor's default, Beneficiary does not
<br /> waive Beneficiary's right to later consider the event a default if it continues or happens again.
<br /> 16. EXPENSES;ADVANCES ON COVENANTS;ATTORNEYS' FEES;COLLECTION COSTS.
<br /> Except whcn prohibited by law,Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches
<br /> any covenant in this Security Instrument. Trustor will also pay on demand any amount incurred by
<br /> Beneficiary for insuring, inspecting,preserving or otherwise protecting the Property and Beneficiary s
<br /> security interest.These expenses will bear interest from the date of the payment until paid in full at the
<br /> highest interest rate in effect as provided in the terms of the Secured Debt. Trustor agrees to pay all costs
<br /> and expenses incurred by Beneficiary in collecting,enforcing or protecting Beneficiary's rights and
<br /> remedies under this Security Instrument. This amount may include,but is not limited to,attorneys' fees,
<br /> court costs, and other legal expenses.This Security instrument shall remain in effect until released.
<br /> Trustor agrees to pay for any recordation costs of such release.
<br /> 17, ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1)
<br /> Environmental Law means, without limitation,the Comprehensive Environmental Response,
<br /> Compensation and Liability Act(CERCLA,42 U.S.C. 9601 et seq.),and all other federal,state and
<br /> local laws, regulations,ordinances,court orders,attorney general opinions or interpretive letters
<br /> concerning the public health, safety,welfare,environment or a hazardous substance;and(2)Hazardous
<br /> Substance means any toxic. radioactive or hazardous material,waste,pollutant or contaminant which has
<br /> characteristics which render the substance dangerous or potentially dangerous to the public health,safely,
<br /> welfare or environment.The term includes,without limitation, any substances defined as"hazardous
<br /> material,""toxic substances,""hazardous waste"or"hazardous substance" under any Environmental
<br /> l.aw,
<br /> Trustor represents,warrants and agrees that:
<br /> A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous
<br /> Substance is or will be located,stored or released on or in the Property. This restriction does not
<br /> apply to small quantities of Hazardous Substances that are generally recognized to be appropriate
<br /> for the normal use and maintenance of the Property.
<br /> B. Except as previously disclosed and aclatowledged in writing to Beneficiary,Trustor and every
<br /> tenant have been,are, and shall remain in Full compliance with any applicable Environmental Law.
<br /> C. Trustor shall immediately notify Beneficiary if a release or threatened release of a Hazardous
<br /> Substance occurs on, under or about the Property or there is a violation of any Environmental Law
<br /> concerning the Property. in such an event,Trustor shall take all necessary remedial action in
<br /> accordance with any Environmental Law.
<br /> D. Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe
<br /> there is any pending or threatened investigation,claim,or proceeding relating to the release or
<br /> threatened release of any Hazardous Substance or the violation of any Environmental Law.
<br /> 652992
<br /> Security Instrument Consurner.NE RE-DT-NE 7 12011
<br /> VMS®8971,era Systems*�r ' 165( ' 11071
<br /> Welters Kluwer Financial Services ®1954 2011 • ,'1;4 •
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