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<br /> executed for thc purp�sc of creating,sccurin�or guarantying the Securcd D�bt•A bood t,iith bclicf hy L.cnder that
<br /> I.cndcr�t any time is insecure with resaect to any person or entity obligated on tha Sccurcd Debt ur th:it the prospect
<br /> ��f any paymcnt or the value of the Property is impaircd shafl also constitute an rvcnt of dcfault.
<br /> 15. REMEDIES QN DEFAUI.T. In svme instunu:s,federal and statc luw will rcquire I.c:nder to providc Grantor with
<br /> noticc of the right to cure ar other notices and muy establish time schcdulcs for forcclosun actians. Subjcct to thcsc
<br /> limitetions, if any,l.ender may aceelerate the Secured Debt And for�close this Security Instrument in n manncr
<br /> providcd by taw if Grantar is in dcfault.
<br /> At the option of l.endcr,all or any part of the a�rced fees and chargcs,accrued interest and princi�al shall hccome
<br /> immediatcly due and payable. aftcr giving notice if requircd by law, upon thc occurrcncc of u default or anytimc
<br /> thercaftcr.In addition.Lender shall be entitled to ap the remedies provided by law,the lerms of thc Secured De6t,
<br /> this Security Instrument and any related documents,including without limitation,thc power to scll thc Property.
<br /> If there is a default,Trustee shall,in addition to any other permitted remedy,at the rcquest af the I.ender,advertisc
<br /> and sell the Property as a whole or in separate pafcels at public auction to the highest bidder tor cash and convey
<br /> absolute title free and clear of all right, title and�nterest of Grantor at such time and place as 1'rustee dcsignatcs.
<br /> "I'rustee shall give notice of sale including the timc,terms and place of sale and a description of the property to tx sold
<br /> as required by the applicable law in effect at the time of the proposed sale.
<br /> Upon sale of the property and to the extent not prohibited by law,Trustec shall make and deliver a dced to thc Property
<br /> sold which conveys absolute title to the purchaser,and after Grst paying all fees,charges and costs.shall pay to I.endcr all
<br /> moneys advanced for repairs,taxes,insurance.liens,assessments and prior encumbrances and interest thereon,and the
<br /> principal and interest un the Secured Debt,paying tl�e surplus,if any,to Grantor.Lender may purchase the Property.
<br /> The recitals in any deed of conveyance shaU be prima facie evidenee of the facts set forth therein.
<br /> AU remedies are distinct,cumulative and not exclusive,and the Lendcr is entitled to all remedies provided at law or
<br /> equity.whether or not expressly set forth.The acccptance by Lender of any sum in payment or partial payment on thc
<br /> Secured Debt after the balance�s due or is accelerated or after foreclosure proceedings are fded shall not constitute a
<br /> waiver of Lender's right to require complete cure of any existing default.By not exercising any remedy on Grantor's
<br /> default,Lender dc�es not waive Lender's right to later consider the event a default if it continues or happens again.
<br /> 16. EXPEN3ES;ADVANCES ON COVENANTS; ATTORNEYS' FEES;COLLECTION COSTS.Except when
<br /> prohibited by law,Grantor agrees to pay all of Lcnder's expcnscs if Grantor brcaches any covenant in this Security
<br /> Instrument. Grantor wlq also pay on demand any amount incurred by Lender for insuring,inspecting,preserving or
<br /> otherwise protecting the Property and L.cnder's security interest.These expe�ses will bear interest from the date of
<br /> the Qayment until paid in fuU at the highest interest rate in effect as provided in the terms of the Secured Debt.
<br /> Grantor agrees to pay all costs and expenses incwred by l.ender in coiteciing.Cuf�i�in��r praieMing I.cndcr'�riSht�
<br /> and remedies under this Security Instrument.This amount may include,but is not limited to,attorneys'fees,court
<br /> costs,and other legal expenses.This Security Instrument shall remain in effect until released. Grantor agrees to pay
<br /> for any recordation costs of such release.
<br /> 17. ENVIRONMENTAI.LAWS AND HAZARDOUS SUBSTANCES.As used in this section,(I)Environmental Law
<br /> mcans,without limitation.the Comprehensive Environmental Responsc,CompenQqt�on and Liability Act(CERCLA,
<br /> 42 U.S.C.9601 et seq.�,and all other federal. state and local laws,regulatians.ordinances, court orders, attorney
<br /> gencral opinions or interprctive letters concerning the public health.safety,welfare.environment or a ha�ardous
<br /> substance;and (2)Hazardous Substance means any toxic.radioactive or hazardous material,waste, pollutant or
<br /> contaminant which has characteristia which render thc substancc dangerous or potentially dangerous to the public
<br /> health,safety,welfare or environment.The term includes,without limitation,any substances defined as•`hazardous
<br /> material;'"toxic substances;'"hazardous waste"or•'haxardous substance"under any Environmeatal Law.
<br /> Grantor represents,warrants and agrees that:
<br /> A. Except as prev9ously disclosed and acknowledged in writing to Lender,no Hazardous Substance is or will be �
<br /> located, stored or released on or in the Property.This restriction does not apply to small quantities of
<br /> Haxardous Substances that are generally rer.ogn'u•.ed to be approprlate for the normal use and maintenance of
<br /> the Property.
<br /> B. Except as previously disclosed and acknowledged in writing to i.ender.Grantor and every tenant have been,are.
<br /> and shall remain in full complianee�vith any applicable�nvironmental Law.
<br /> C. Grantor shall immediatcly notify I.ender if a releasc or threatened release of a Ha�ardous Substance occu►s on,
<br />– under or about the Property or there is a vialation of aoy Environmental Law concerning the Property.In such
<br /> �►n event.Grantor shall take all neccssary remedial action in accordance wtth any Environmental Law.
<br /> D. Grantor sh�ll immediately notify Lender in writing as soon as Grantor has rcason to belicve therc is any
<br /> pending or threatened investigation, claim, or proceeding relating to the release or threatened release of any
<br /> I-€azardous Substancc or thc violation of any Env�ronmcntal Law.
<br /> 18. CONDEMNATION.Grantor will givc Lcnder prompt noticc of any pending or thrcatened:�ction, by private or
<br /> public entities to purchase or take any or all of thc Property through condemnation,eminent domain.or any other
<br />– means.Grantor authorizes L.ender to intcrvene in Grantor's name in any of the abovc describcd actions or claims.
<br />— Grantor assigns to Lender the proceeds of any award or elaim for damages conneeted with a condemnation or other
<br /> – taking of all or any part of the Property.Such procecds shall bc considcred payments and will be applied as provided in
<br /> – this Security Instrument. This assignment of procccds is subjcct to thc tenns of any prior mortgagc, deed of trust.
<br /> � security agrecment or other licn document.
<br /> ]9. INSURANCE. Grantor shall kcep Property insurcd against loss by�rc,flood,theft and other hazards and risks
<br /> � reasonably associatcd�vith the Property due to its type and location.This�nsurance shall be maintaincd in the amounts
<br /> - and for the periods that Lender reqmres.The insu:ance carrier providin�;the insurancc shall be chosen Ny Grantor
<br /> – �..a:,.,...,, t o..a.,.� unnrnval �,h.nc�h�li not hc unrcasonablv withhcld. If Grantor fails to maintain thc covcragc
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<br /> ° described ahovc,Lcnder may,at I.ender�option,obtain coverage to protect L.a:nder's rights in the Property according
<br /> = to tlic tcrms af this Sccurity Instrumcnt.
<br /> = All insurar.ce po]icies and renewals shaU be acceptable to Leuder and shall include a standard"mortgage clause" and,
<br /> where applicabic,"loss payee clausc." Grantor shall immediately notify Lender of cancellation or termination of the
<br /> insuruncc.l.endcr shall havc thc right to hold the policics and renewals.If Lcndcr requires,Grantor shall immediately
<br /> give to i.ender all receipts of paid premiums and renr,wal notices.Upon loss,Grantor shall give immediatc noticc to
<br /> thc insurancc carricr and I.�ndcr.i.cndcr may makc proof of loss if not made immcdiatcly by Grantor.
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