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<br /> executed for the purpose of creatin�,securin�or guarantying the Secured Debt.A �oad faith beliet by L.ender that _
<br /> L.ender at any time is[nsecure with respect to any person or entity obfigated an thc Sccured Debt or that the prospect _
<br /> of any payment or the value of the Property is impaired shall also constitute an event of default.
<br /> 15. REMEDIES ON DEFAULT.In some instanccs,federal and state law will require Lcnder to providc Grantor with
<br /> notice of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to thcse
<br /> limitatic,ns,if any,Lender may aceeleratc the Seeured Debt and foreclose this Security InstrGment in a �nanner
<br /> provided by law if Grantor is in default. �
<br /> At the option of L,ender,all or any part of the agreed fees and char�es,accrued interest and priucipal shall become
<br /> immediately due and payable, after giving notice If required by law,upvn the occurrence of a default or anytime
<br /> thereafter.In addition,L,ender shall be entitled ta all the remedies provided by law,the terms of the Secnred Debt.
<br /> this Security Instrument and any related documents.inclu3ing 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 Lender,advertise
<br /> and sell the Property as a whole or in s�parate parcels at public auction to the highest bidder for cash and convey
<br /> absolute title free and clear of all right,title and interest of Grantor at such time and place as Trustee designates.
<br /> Trustee shall give notice of sale including the time,terms and place of sale and a description of thc property to be sold
<br /> as required by the applicable law in effect at the tlme of the proposed sale.
<br /> Upon sale of the property and to the cxtent nat prohibited by law.Trust:e shall m�ke and deliver a decd to the Property
<br /> sold which conveys absolute title to the purchascr,and aftcr first paying all fees,charges and costs,shap pay tu l.endcr all
<br /> maneys advanced tor repairs,taxes,insurance,licns,assessments ancf prior encumbrances nnd intsrest thcreon.and the
<br /> principal and intcrest on the Sccurcd Debt.payiag the surplus,if eny,to Grantar.C.cnder may purchasc the Property.
<br /> Th�rccitxls in an,y deed�f canve;yuncc shaU he prima facie evidcnce uf the Cacts set forth thcrcin.
<br /> All rcmedics arc distinct,cum�dativc attd not exclusivc,und thc Lendcr is entitted tn all remedics provicied at law or
<br /> cyuity,whether��r nat expressly sct forth.The acceptance by I.�nder of auy sum in payment or partial payment on the
<br /> Secured Debt utt^r the bzilancc�s duc��r is ucccleratcd or after fareclosurc proccedings arc tilcd shall not constitute a
<br /> wnivcr of G:nder's�igh1 to requirc rompletc cure of any existing default.By not excrcising any rcmedy on Grantor's
<br /> default.Lendcr docs not waivc L.cnder's right to later consider the event a default if it continucs or happens again.
<br /> IG. EXPENSES;ADVANCE5 ON COVENANTS; ATTORNEYS• FEES;COLLECTION COSTS.Exccpt when
<br /> prohibited by law,Grantor egrees to pay all of Lender's expenses if Grantor brcaches any cavenanz in this Security
<br /> Instrument. Cirantor will also pay on demand any amount incurred by I.ender for insuring,inspecting,preserving or
<br /> otherwise protecting thc Property and Lender's security interest.These expenses will bear interest from the datc of
<br /> the payment until paid in fufl at the highest interest rate in effect as provided in the terms of the Secured Debt.
<br /> rrant�r AprPes to Qay all costs and expenses incurred by I.cndcr in collecting,enforcing or protecting Lender's righ�s
<br /> and remedies under this Security Instrument.This amount may tnclude,but is not Gmited to. atiorney�fcc5,:.:�uri
<br /> costs,and other legal expenses.This Securiry Instrument shall remain in effect until released.Grantor agrees to pay
<br /> for any recordation costs of such release.
<br /> 17. ENVlRONM�NTAL LAWS AND HAZARDOUS SUBSTANCES.As used in thissection,(1)Environmental Law
<br /> means,w[thout limitation,the Comprehensive Environmental P esponsc.Compensation and Liability Act(CERCLA,
<br /> G2 U.S.C.9601 et seq.),and all other federal,state and local laws,regulations, ordinances,court orders, attorney
<br /> general opinions or intcrpretive letters concerning the public health,safety. welfare, environment or a hazardous
<br /> substance;and(2)Hazardous Substance means any toxic,radioactive or hazardous material,waste, pollutant or
<br /> contaminant which has characteristics which render the substance dangerous or potentlally dangerous t�the publlc
<br /> health,safety,welfare or environment.The term includes.without limitation, any substances defined as"ha�.ardous
<br /> material;'"toxic substances;"`hazardous waste"or"hazardous substance"under any Environmental Law.
<br /> Grantor represents,warrants and agrees that:
<br /> A. Except as previousl,y disclosed and acknowledged in writing to Lender,no Hazardous Subs4ance is or will be •
<br /> located, stored or released on or in the Property.This restriction cioes not apply to small quantities of
<br /> Hazardous Substances that ars generally recognized to be appropriate for thc normal u.se and maintenance of
<br /> the Property.
<br /> B. Except as previously disclosed and acknowledged in writing to l.ender,Grantor and every tenant have been.are.
<br /> xnd sball remain in full compliance with any applicable Environmental Law.
<br /> C. Grantor shaA immediately notify[.ender if a release or tl�reatened release of a Haznrdous Substance occurs on,
<br /> under or about thc Property or there is a violation of any Environmcntal Law concerning the Property.In such
<br /> an event,Grantor shall take all nece��ary remedial action in accordance with any Environmentel Law.
<br /> D. Grantor shall immedtately notify Lender in wrtting as soon as Grantor has rcason to believe tuere is any
<br /> pending or thr�atened investigation,claim,or proceeding nlating to the relcase or threatened release of any
<br /> Hazardous Substance or the violation of any Environmental L.aw.
<br /> 18. CONDEMNATION.Grantor will give Lender prompt notice of any pending or threatened action,by private or
<br /> public entities to purchase or take any or all of the Property through condemnation, eminent domain, or any other
<br /> means.Grantor authorizes Lender to intervene in Grantor s name in any of the above described actions or claims.
<br /> Grantor assigns to Lender the procecds of any award or claim fo-damages connected with a condemnation or othcr
<br /> taking of all or any part of the Property.Such proceeds shull be considered payments and will be applied as provided in
<br /> this Security Instrument.This assignment of proceeds is subject to the terms of any prior murtgage,deed of trust,
<br /> security agreement or other lien document °
<br /> 19. INSURAfiSCE. Grantor shall kecp Property insured against loss by fire,flood. theft and otl�cr ha�ards and risks
<br /> reasunably associAted with the Property due to its typc and location.This insurance shall be maintained In thc amounts
<br /> � and for the periods that Lender rcquires.The insurance carrier providing thc insurancc shall be chosen by Grantor
<br /> subject to L.ender's approval, which shall not be unreasonably withycld.If Grantor f�ils to maintain the coverage
<br /> �___�L_a........� f.....,.,........ .,��a.,,�Ar���.,ri.,., �t,ra�n rnverave to nmtecc L.enders ri¢hts in the Property according
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<br />= to the terms of this Security In�trument.
<br />= All insurance policies and renewals sha11 be acceptable ta Lender and shall include a standard••mortgage clause"and,
<br />� where applicuble,"loss payec clause."Grantor shall immediately notify Lcnder of cancellation or termination of the
<br /> — Insurance.I.ender shall have thc right to hold the poltcies and renewals.If Lender rcquires,Grantor shall immediately
<br /> � give to Le:nder all reccipts of paid premiums and renewal notices.Upon loss, Gran�or shall give immcdiate notice to
<br /> thc insurunce carcicr end L�:nder.L.cndcr mny make proof of loss if not made im►ncdiately by Grantor,
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