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provided by law if Trustor is in default. In some instances, federal and state law will require
<br />Beneficiary to provide Trustor with notice of the right to cure, or other notices and may establish
<br />time schedules for foreclosure actions. Each Trustor requests a copy of any notice of default and
<br />any notice of sale thereunder be mailed to each Trustor at the address provided in Section 1 above.
<br />At the option of the Beneficiary, all or any part of the agreed fees and charges, accrued interest
<br />and principal shall become immediately due and payable, after giving notice if required by law,
<br />upon the occurrence of a default or anytime thereafter.
<br />If there is a default, Trustee shall, at the request of the Beneficiary, advertise and sell the Property
<br />as a whole or in separate 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 Trustor at such time and place as
<br />Trustee designates. Trustee shall give notice of sale including the time, terms and place of sale and
<br />a description of the property to be sold as required by the applicable law in effect at the time of
<br />the proposed sale.
<br />Upon sale of the Property and to the extent not prohibited by law, Trustee shall make and deliver a
<br />deed to the Property sold which conveys absolute title to the purchaser, and after first paying all
<br />fees, charges and costs, shall pay to Beneficiary all moneys advanced for repairs, taxes, insurance,
<br />liens, assessments and prior encumbrances and interest thereon, and the principal and interest on
<br />the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may purchase the Property.
<br />The recitals in any deed of conveyance shall be prima facie evidence of the facts set forth therein.
<br />The acceptance by Beneficiary of any sum in payment or partial payment on the Secured Debt after
<br />the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a
<br />waiver of Beneficiary's right to require complete cure of any existing default. By not exercising any
<br />remedy on Trustor's default, Beneficiary does not waive Beneficiary's right to later consider the
<br />event a default if it happens again.
<br />10. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If
<br />Trustor breaches any covenant in this Security Instrument, Trustor agrees to pay all expenses
<br />Beneficiary incurs in performing such covenants or protecting its security interest in the Property.
<br />Such expenses include, but are not limited to, fees incurred for inspecting, preserving, or otherwise
<br />protecting the Property and Beneficiary's security interest. These expenses are payable on demand
<br />and will bear interest from the date of payment until paid in full at the highest rate of interest in
<br />effect as provided in the terms of the Secured Debt. Trustor agrees to pay all costs and expenses
<br />incurred by Beneficiary in collecting, enforcing or protecting Beneficiary's rights and remedies under
<br />this Security Instrument. This amount may include, but is not limited to, Trustee's fees, court costs,
<br />and other legal expenses. To the extent permitted by the United States Bankruptcy Code, Trustor
<br />agrees to pay the reasonable attorneys' fees Beneficiary incurs to collect the Secured Debt as
<br />awarded by any court exercising jurisdiction under the Bankruptcy Code. This Security Instrument
<br />shall remain in effect until released. Trustor agrees to pay for any recordation costs of such release.
<br />11. 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)
<br />Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or
<br />contaminant which has characteristics which render the substance dangerous or potentially
<br />dangerous to the public health, safety, welfare or environment. The term includes, without
<br />limitation, any substances defined as "hazardous material," "toxic substances," "hazardous waste"
<br />or "hazardous substance" under any Environmental Law.
<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
<br />not apply to small quantities of Hazardous Substances that are generally recognized to be
<br />appropriate for the normal use and maintenance of the Property.
<br />B. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every
<br />tenant have been, are, and shall remain in full compliance with any applicable Environmental Law.
<br />* (page 5 of 7)
<br />_ 1994 Wolters Kluwer Financial Services - Bankers Systems Form USBOCP -DT -NE 11/16/2012
<br />201400478
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