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<br /> 14. DEFAIJLT.Trustor wlll be iii default if a�ry party nUliguted on tl�e Secured Debt fails ta n�ake payment wlie�i due. Trustor ,,� -
<br /> w•ill be in default if a breacu occurs under the tcnns of tl►is Securiry Ii�strument or any culiar Jcxuntent executed for d�e � •���=
<br /> putpose af creating,secudng or�uaranrying dte SecureJ Debt. A goad faith belief by Beneticixry that Deneticiary;it any `•"� 'F�-'__
<br /> tin�e is insecure wtth respect ta uny penan or endty,obllg;ired ai the Secured Debt or that the prospect of any pay�nrnt or ''��;�'�' ^�
<br /> the value of the Aroperty is in�paired sh�ll also constitutc an avent of default. '� '`i��
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<br /> 15. REMEDiES ON DEFAULT. !n som�instances, federal xnd state law will require Beneficiary to provide Trusror witl� .�•�-���'-µ���=
<br /> notice of the rtght [u cute or other nadces aad way establish tune schedules for fc�reclosure actious. Subject to these -- -
<br /> lImitations, if a�iy, Heneficiary may accelerate the Secured Debe and fore�:lose diis Security Instnunept �n a n�auner
<br /> • '"� provided by law if Tnuwr is ii�deFault. =:
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<br /> � At the optlon of Beneficiary, all ar aay pan of the agreed fees and charges,accrued interest and principal shall become
<br /> iuimecliately due and �ayable,.after g�ving notice if required by law, upun the occuneuce of a default or anyanie -
<br /> thereafter. In addidon, Beneficiary shall be entided to all t�e remedies provided by law, the tecros of the Secured Debt,
<br /> dus Ser.urity��uuwi�eut aud any reltsted ducumeuts,including withaut limitanon,the power ro sell the Property. --
<br /> If there is a default,Trustee shxll,in adilition to any otuer permitted re:medy,at the request of tlie Beueficiary,advertise '
<br /> � and sell the Property as a whole or in separata parcels at public auction to tt�e highest bidder for cash and convey absolute
<br /> dtle free and clear of all right.title and interest of Trusror at sucb tir�e and place us'Trustee desigi�aces. Tmstee sliall give
<br /> notic�of sale ineludins d�e cime, terms ancl place of sale awd a description of the property to he sold as requiced by the
<br /> applicablc law in effect at die tIme of tlie proposed sale. -
<br /> Upon sale of d�e property and to dte extent not prahibited by law,Tcustee sli�ll u�ake an�dellver a deed ta tbe Property �
<br /> sold which canveys absalute title to tlu: purchaser, xn@ after first paying all fe�s, cl�arges und costs, shal! pay to
<br /> Heneficiary all �naueys ndvnnced for rens�irs, tax�s. lILSUfiIA(:C, Ilens, 7S%CSSIpClll:t �tl1tl rnU! CIICUIIIIffSi.11CC5 iUl(I lptC�NSI
<br /> thereon, iuid the princi�al iu�d intcrest ��n the SecureJ Debt, pxying Uie swplus, iF uny, to Trustor. 9eneficiury n�ay
<br /> purch:�se d�e Property.Tlir recitals in any dc�d af canveyatxe sl�aU be prima fucie evide��ce ot'N�c facts set fonh therefu.
<br /> � . All renudles xre distGict,cun;ul�uivc: wid uut rxclusivr„ un�l the Beneficiary ix eutitlul ta ail rrmed:es provldeJ at luw or
<br /> equity,wl►ether or uot expresyly set Forth. Thr acceptauce by Brneticiary af any sum in payment or��arnal payinettt on Qie
<br /> Secured Debt after d�e bc�lwrce is due or is acc:elera�ed or aft.r tixeclosure proceeJings �ire tiled s4�Al not couscitute a
<br /> ' H•aiver of Benefictary's right to require cc�mplcte cure of any existing d�fault. By nat exrrclsing any remedy on Trustor's
<br /> d�:fault,Heneticiary dueti not watvc Qeneficixry's right ta later cotuider tlic evciu u default if it continues at ltap(�ens again.
<br /> '�'' 16. EXPENSES; ADVANCES ON COV�NANTS; ATTORNEYS' FFES; COLLECTION COSTS. Except wlien
<br /> • prolubitecl by law, Tcusror agrees tn pay all uf Beneficiary's expenses if'I'n�.5tur breaches any coven;tnt in diis Secur�ty
<br /> �- Iluitu�iicIIt. Trustoi wilI aisu pay o�t d�nia�d any aatou;�t tucun�d t�y �crcfi�iary for iilivrin�,insg�.c:i2I16, pr��svis�ur
<br /> otherwise protectiu&the Property und Hen�ticiary's secunty iuterest.These expenses will bear�uterest trom tbe date o the
<br /> � payment undl paid ni full at the highest interest rate in effect as provided in die tenus of d�e Secured Debt.Tcuscor agrees
<br /> to pa y. all costs :►nd expeiues iucurred by Beneficiary in collecting, eaforcing.or protecting Beneficiary's ri�ts and
<br /> remedies uttder thls Securiry Instnuurnt. This amouut may iuclude, but is no�]iuuted to,xttorneys' fees,cc�utt costs, and
<br /> other lesal expenses. This Security Instcument sl�all �main iu effec: until release:d. Trustor abrees to pay for any
<br /> recordation custs of such release.
<br /> 17. FNVIItON11�NTAL LAWS AND HAZARDOUS SUBSTAIVCES. As used iu diis•section, (1) Bnvironmental Law "
<br /> means, wlthout limitadon,the Comprel�easive Envirotuuental Respanse,Cainpensndon and Liability Act(CERCLA. 42
<br /> U.S.C. 9601 et seq.), aad all other tederal,state and local laws, regulation.ti, ordlnances, court orders. attoruey general -
<br /> opinions or inrerpreuve letters cancerning the��ublic healtl�,safety,welfare, euviro�u�ient or a uazardons substauce;aud(2) _•
<br /> Hazardous Substance ineans any toxic, rad�oactive or hazardous material. waste, pollutant or contaminant which l�as -
<br /> cltaracterisdcs whicli rendcr the substance dangerous or poteutitaly dangerous to tlie public liexlth, sefcty, welfare or
<br /> environ�nent. Tlie terni iucludes, �c�idiout limitation, any substunces Jefined as "hazardous material." "toxic substances," !�-°—
<br /> "l�azardaus waste"or"l�azardous substxuce"uuder any Enviromuental I.aw. �
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<br /> • Trustor represeuts,warrants and agrees tliar.
<br /> A.Bxcept as previously cliscloseci and acknowledged in�vriting to Benefiyiary, uo Hazardous Substance is or will be �.�.
<br /> located, stored or released on or in die Property. Tfds restrictiou does ttot app1y to sniall quantides of Hazt�rdous ��
<br /> Substnnces tliat are geuer►lly recog�uzed to be appropriate for ti�e nomial use and maiuteuance uf the Property. ..-
<br /> • B.B�cept as previously disclosed and ackuowledged iu writ�n�to Benefici;iry,Trustor and every tenxnt have been, are, -- -
<br /> and sliall reniai�i in full compliance�vith any xpplicable En���romuent�l L:tw. -'�
<br /> C.Tiustor shall inunediately notify Beneficiary if a rele:tse or threateued telexse of a Hazardous Substai:ce occurs on, v i� �
<br /> • - under or about tlie Property or diere is ii violation of tu�y Snvironmental l.��w coucertting the Property. In such an -- —
<br /> . � event,Trustor sl�all take all neeessary remedlal action in accorclance wlth any Environmental J�tw. ����nea�-���._.
<br /> D.Trusror shall immediatel natii' Benehc�a in writing as suon us Tnisror has reasun to helieve tUere is any enclin `•`^�°��''
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<br /> or direatened invespgacion, claim, or prcxceding relatiug to die rclei�se or threatened release of xny Hazardous ;�:,�,��;
<br /> Substance or die violation of any Environniental L�w.
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<br /> 18. CONDENINATION.Trustor will give Beneficixry pron�pt nntice of any peiidin�or threatened action,by private or ubtic '�''g:�-�_
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<br /> entitie�r�purchase or talce any ur xll of the Propeny.through condemnat�on, em�nent domxiu, or any odier means. Trustor ���=
<br /> authorizes Benet7ciary to intervene in Trustor's nxme in any of�he ahore described tictions or clxims. Trustor assigns to ,
<br /> I Beneficiaty the procceds of any a�vard ur claim for damxges caimected with a condemcwtirm or other taking c�f xll or any • '
<br /> p�rt of tlte Property. Sucli preceec:s sl:•�l) he ��t„�ar��a ra)zn.nts »:id �vil! be app:ied as p:ovidecl in diis Security
<br /> `; Instrntuent. Tliis ttssigiunent of prcx:eeds is subject to die terms of any priur mortgage, deed of trust, security agreemeut or
<br /> - � odier lien document. •
<br /> 19. WSURANCE.Trwtor shall keep Property insured agaimt loss Uy tire, flood,thefc xnd otlter h:v.xrds and tislcs reasonably
<br /> �.�socixted with die Propeny due to its[ype and loc�tion. TI►is iu,uran�e sl�all be maii�tained in the xtnounts and for Q�e
<br /> Ip�riods tl�at Beueficiar�� requirr.s. Tlte insurance canier providi��b� the iiisurxnce shull be cl�osen by Trustor subject to �
<br /> � Beneficiary's a�proval, wh�cl� sLall not be urueasonably widdield. If Trustor fails tu maintain the coverUge described
<br /> .dv. Aun..Ar�uw mnu nr Run..A..�.aru`. n�:,..• nl.�.,i... .,�.... .�..,•� A..nufiri..rv'. .d.�. i.�Iv.Prnw+rru� ..l:nn _ ..
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<br /> � to the�renns of this Securtry I�unvment. �
<br /> � All i��surance pulicies aiid re�ie�vals shxU be accrptable to Brueticiary x►iJ sliall•include ,�stxndard "murtgage clause" and,
<br /> � where applicable, "luss payee clause." Trustor sliall imiurdiately notify Denrficiary ot'cxucellation or temunatton of the I
<br /> i�uurance. Beneticiary sh;dl liave the rigln to huld ihe pulicies and rcnewals. If Beueticia�- requires, 'I'rustar shall
<br /> immeJiately �ive a� Benefi�iary all:reccip�s of �aid rrenuumx and rene�val nutices. Upon loss, Trustor shall give i ..
<br /> � imnuJiate nunce to the insurance carner and Benehc:iary. Benetiriary m.�y mxkr pri�uf uf luss if nut macle innnediatrly hy •
<br /> 'I'tustor. '
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