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<br /> cxecutcd for thc purp�sc�f creatin�,s�curins or guarantying thc Secured Ucht. A good faith belicf by l�;ndcr that �=�
<br /> L.�:ndcr a4 any�imc is fnsecu;c with;rc�ct tu any person or cntity obligatcd on thc Sccurcd Dcbt c�r that thc prospcct ��:'
<br /> of any pAymcnt or the value af the Yroperry is impaired shaU�Is�constitutc an cvcnt ot dcfault. �_._
<br /> � f5. RGMEUI�S ON DEFAUL.T.ln somc instanccs, fcderal and statc Inw will rcyuirc 1_cndcr to providc Gruntor with E�--
<br /> notice of the right to curc or other notices and may establish time SchGdules for foreclosure �ctions.Subject to thesc
<br /> -� limitations, if any, Lr.nder may aceelerate the Secured Debt imd fc�rcclose this Security Instrument in ii manncr
<br /> j� provided by law if Grantur is in default.
<br /> ��,,; At the option of Lender,all or any part of the agreed fees nnd chArgcti, uccrued interest and principai shi�ll hecomc
<br /> immediately due and payable,after giving noticc if required l�y Inw, upon the occurrenre of t� Jefault or anytimc
<br /> ' "�"� + thcrcafter.In addition,Lender shaU be entiticd to z�ll thc remedi�s provided by law,the terms of the Secured Debt,
<br /> this Sccurity Instrument and any related documents,including without limitation,thc puwcr to seU thc Property.
<br /> " lf thcrc is a default,Trustee shall,in additian to any othcr permitted remcdy,ut thc requcst ot thc l.cndcr,advertisc
<br /> and sell the Property as a whole or in separate parcels at public auct�un w tlie highest bidder for cash and ccmvey
<br /> absolutc tiU� free and clear o(all right, titic and interest oF Grantor at such timc and plucc��s Trustcc dcsignutcs.
<br /> • Trustcc shall givc noticc of salc including thc timc,tcrms and placc c�f st�lc s�nd a dcscripticm u(thc{�roperty tc�hc suld
<br /> �s required hy the applicable law in effect ut tht time uf the propused salc.
<br /> Upon sale af the property and to the cxtent nut prohibited by law,Trustee shall makc and deliver a decd to thc Property
<br /> • sold which conveys absolutc title to the purchaser,and after first payit�g all fees,charges and costs,shall pay to Lender all
<br /> moneys advanccd for rcpairs,taxes,insurance,liens,asscssments and prior encumbranccs and interest thercon,and thc
<br /> � principal and intcrest on the SecurcJ D�Ut,paying the surplus,i:any,to Grantor. Lender may purchase thc Property. -----
<br /> tr The recitals in any deed of conveyance shall he prima facie evidence of the facts set forth therein. —
<br /> All rcmedies nrc distinct,cumulativc and not cxclusivc,and the Lcndcr is cntiticd to all rcmedies provided at law or
<br /> �'' cquit��,whether or not cxpressly sct furth.The acccptance by Lender of any sum in payment or partial payme:nt on thc
<br /> Secured Debt after thc balance is due or is accelerated or after fareclosure proceedings are filed shall not constitute a
<br /> waiver of Lender's right to reyuirc complete cure of any existing delault.By not exercising any rcmedy on Grantor's
<br /> default,Lender docs not waive L�.ndcr's right to latcr considcr thc event a default if it continues or happens again.
<br /> � 16. EXPENSES;ADVANC�S ON COVENANTS;ATTORNEYS' FEGS; COLLEC'I'ION COSTS. Exccpt when
<br /> , prohibited by law.Grantor agrees to pay all of Lcndcr's expenscs if Grantor brcachcs any covenant in this Security
<br /> Instrument. Grantor will�►lso pay on demand any amount incurred by Lcndcr for insuring, inspecting,preserving or
<br /> �' othenvise protecting the Property and Lcndcr's s�:curity intcrest.Thesc cxpenses will bcar intcrest from tl�e datc of
<br /> `� thc payment until paid in full ut thc highcst intcrest ratc in effcct as provided in thc terms of the Securcd Debt.
<br /> � Grantor agrees to pay all costs and expenses mcurred by Lender in colleccing,enCorcing or pruicciiug I,c�i�ici's figiiis
<br /> '� and remedies undcr this Security Instrumcnt. This amount may include,hut is not limited to, attorneys' fces, court _
<br /> ti costs,and other legal expenses.This Security Instrument shall remain in effect until released.Grantor agrees to pay
<br /> for any recardation costs of such release.
<br /> '� 17. ENVIRONMENTAL LAWS AND HAZa►RDOUS SUBSTANCES.As used in this section,(1)Environmental Law
<br /> � nteans,without limitation,thc Comprehensive Environmental Response.Compensation and Liability Act(CERCLA,
<br /> _ � 42 U,S.C.9601 et seq.),and aU other federal,state and local laws,regulations, ordinances,court orders,attorney
<br /> gcncral opinions or interprctive lctters conccrning thc public hcalth,safety,welfare, environment or a hazardous
<br /> �.� substancc; and (2) HaTardous�ubst�ncc mcans any toxic,rudioactivc or har.ardous matcrial,waste,pollutant or
<br /> contaminant which has charactcristics which rcndcr thc substancc dangcrous or potcntially dangcrous to thc public
<br /> hcalth, s�tety,wclfarc or cnvironment.7'hc tcrm indudcs,without limitation,any substanccs defincd �s"hazurdous
<br /> material;"`toxic substances,""hazardous waste"or"haxardous substance"under ar,y Environmental Law.
<br /> +� Grantor represents,waaants and agrees that:
<br /> A. Except as previously disclosed and acknowledged in writing to Lender,no Ha•r.ardous Substance is or will be -_
<br /> -- - . locatcd, storcd or rcicascd on or in ihc Property.Thic rPStriction does not apply to small quantities of `��
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<br /> Huzardous Substanccs that arc genernlly rccogni•r.ed to be appropriate for thc normal use and maintenance of <<_
<br /> �.� the Property. °_
<br /> B. Except as previously discloscd and acknowled�cd in writing to L.cnder,Grantor and cvcry tcnant have been,are,
<br /> , ' and shall rcmain in full compliancc with any applicablc Environmental Law. -
<br /> � C. Grantor shall immediately notify Lender if a rcicase or threatened release of a Hazardous Substance occurs on,
<br />- undcr or about thc Property or thcrc is a violation of any Environmcntal Law conccrning thc Property.In such
<br />_ - an event,Grantor shall take all necessary remedial action in accordance with any Environmental Law. ;
<br /> � D. Grantor shall immcdiatcly notify Lendcr in writing as soon as Grantor has rcason to bclicvc thcrc is any �'.
<br /> pending or thrcatened invcstigation,claim,or procceding rclating to the releasc or threatencd releasc of any
<br /> • Hazardous Substancc or thc violation of any Environmental Law.
<br /> 18. CnNDEMNATION.Grantor will givc i.cndcr prompt noticc of any pending or thrcatencd action,hy private or
<br /> " public cntitics to purchasc or takc any or all of thc Property through condemnution, cmincnt domain,or any othcr
<br /> - mcans. Grantor authorizcs Lcndcr to intcrvcnc in C�rantor's namc in any of thc abovc dcscribed actions or claims.
<br /> Grantor assigns to Lender the proceeds of any award or claim tor damages connected with a condemnativn or other
<br /> taking of all ur any part of thc Property.Such procceds shall he considcred paymcnts and will bc upplicd ns providcd in
<br /> this Securiry Instrument. "1'his assignment of proceeds is subjcct to the tcrms of any prior mortgagc,dced of trust,
<br /> security agrcement or othcr licn documcnt.
<br /> 19. INSURANCE. Grantor shall kcep Property insured against loss by firc, flood, thcft and othcr ha•r.ards and risks
<br /> rr:►snn.�hly associatcd�cith thr Prorcrty dur tc�its t)�}�c and location.Thiti insuranre sliall hr mainlainrd in thr anuwnts
<br /> " :ui�1 fi�r ihr periods that Lcndrr rcyuires.'1'hr insurancc r.irricr prcn�idink thc in�uranre shall hc chusrn hy (irantor
<br /> . subicrt to Lcndcr's appruva�l,which shall n�n hr unrcasonahly�vithhcld. If C;rantur fails tu m.iintain thc cu��rragc
<br /> - desrrihed ahuv�,Lcndcr may,.it Lcndcr'�c�ption.uhtair.co��cragc tu pratcct I.rndcr�s rights m tlir t'roperry accoraing ��
<br /> to the tcrms of this Security Instrument.
<br /> - All insurancc policics amd rrnrwal�xhall bc arrcptahlc h� Lcndrr and shall incluJr�i�t�ndard"mortgagc clausc"and,
<br /> whcrr applicablc."lu�s paycr rluusc.°Grantor shall intmcdiatcly notify Lcndcr u[cancrllatiun ur trrmination uf lhc
<br /> in.urancc. Lcndrr sh;ill h:ivr thc righ:tc:huld thr pi�li�irs and rencwals. If Lcndrr rryuirr�.Grantur}h:�ll immediatcly �
<br /> � �ivc tu Lrndcr all r��rcipts�,I paid prcmiums amd rrncw,il nutirrs. l��c�n lu.s.(�r,int��r sh��ll�ivr immcdiatc nuticc t�� ,
<br /> Ihr intiurancr canirr and Lcndrr.Lcndrr nr.�t�mak�prcn�f uf lutis il n��t ma�ir immr�liatrl��I,v(irantur. i
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