Laserfiche WebLink
��14��795 <br /> 14.�DEFAT.]I1T, Trustor will be�n default if any party obiiga��d on�he.Secuxed Debt fa.ils to r�a��paymen��rhen due. Trus�ar <br /> v���� �e in default ���a �r�a���Yvccurs=���� e��,_�h�:-��rr�of�h�s 5ecur�ty �ns�rumer�t or any v��r docurr�en� executed far �he <br /> � * iJL :;�i` '-fl S���:•-• - - i ■ ■ ►n /�y►�� <br /> purpose af cre�.�1n -:s�cur�ng ar���ua;r f�����h����ecr�red Debt A good fa��h be���f�V �����'ic�►^+y�i] �ha� Benef�c�/1A�J���]/ a� anV] <br /> ■ • �',', ,�. '�� Y f M M V Y <br /> �ime �s insecure v�x�h r�������_t�_�.y���p�r��r�,#ors�eii�it� �bligated on the Seeured De�t �r tha� t�e prospect of any payment ar <br /> the value of�he Pro � r.��:° : tl�; � � L,. .f:�. � <br /> ��r��-�4��:�����d�s��.:��.�;f�s���x�e an e�rent af.defaul�. <br /> 15. REMEDIES �N D�FAUI�T. In sam� ins�ances, federal and sta�e �aw �i11 r�quire �ene�'icia�y �o provxde Trus�or vvi�h <br /> natice �f the righ� �� cuxe or other notices and may establish time schedules for for�c�os�re ac�ion�. Subject to �h�se <br /> ��mi.ta�ions, if any, B�neficiary may acc�Ierate�he Secured Deb�ar�d foreclose th�s Secu.rx�y��s�rument in a manner pro�ided <br /> by law if Trustor�s�n de�aui�, <br /> At the option of B�nefic�ary, �.I ar any part.of the agre�d fees and chaxges, accru�d �x�te��st at�d princ�pal sha�l b�ec�me <br /> �mmedia�e�y due and paya�le, after g��1ng not�ce if requ�red by �a�v, upan the occu��r���of a d�fault nr anyt�me thereaf�er. <br /> In add�tion, Benefi�iary s�a�X �e en�it�ed to a11 the re�nedies provi��d�y �aw, �he t��s o�th� S�cured Deb�, this Secur�ty <br /> Yns�rumen�and any relate�do�um�nts, includin�withaut 1im�.ta��a�., �h�p��er ta s���t�����p��y. <br /> If there is a defaul�, Tru�t�e sha�I, in add�ti�n �a any ather perm�itted remedy, a� �he r�qu�st of�he Beneficiary, advertise <br /> and sel� �he Proper�y as a wh�Ie,ar 1n se�arate parce�� a�pub��c auc�ion�o the�igh�st bidder far cash and eonvey absa�ute <br /> t�t�e free ar�d clear of a�� r�ght, �1��e and rnterest af Trustor a� such��me and p�a�e as T�-ustee designa��s. Trustee shall g�ve <br /> notle� of sa�� including the time, terms and plac� �f sale and a descr�p��on �f�he property t� be sold as required �y th.e <br /> applicab�e law�n effec�at tl�e time�f th�propased sale. <br /> Upan sale of the prope�y ar�d t� the extent na� prohibited b law, Trustee shal� mak� �d deliver a deed ta �he Proper�y <br /> sold�vh�ch canve s absalute title�o�h� urchaser and af�er�r ' <br /> y p , ��p�y�ng a11 fees, chaxges a�d cos�s,,sha11 pa��o Bene�c�ary <br /> a11 mon�ys a�vanced for rep�rs, taxes, insurance, liens, assessrnen�s and pr�ar encumb�an��s at�d �nterest therean, and the <br /> pr�n�ipal and �n�erest ar�t�e Secured I]ebt, paying the surp�us, if any, �o Trustar. B��e�'ici�ry rr�ay pur�hase the Property. <br /> The re��� s <br /> al �n any deed�f conveyance sha.��be pr�ma facie ev�dence of�he facts set fo�th tY��re�x�. <br /> All remedies are distinc�, cumula�ive and not exc�usive, and the Beneficiary is enti�led �a a11 r�x��dies �rovided at �aw or <br /> equ��y, �rhether or nat��pressl� set fnr�h. The a��eptance by Beneficiary of any sum in pa men� nr partlal pa�ment an the <br /> S�cured Deb�after the�halan�e 1s due or�s aceelerated or after fareclosure praceedings ar� x�ed sh��n�t constitu�e a vvai�er <br /> af Beneficiar�'s righ� �o require c�mpl�te cure af any existing default. By not exer�ising any rem�dy �n Trustor's d�fau��, <br /> . Beneficiary does��t�va.iv��3eneficiary's right to later consider�he e�ent a d�fault if i�c��tinues�r happens again. <br /> 1�. EXFENSES; ADVANCES �N C�VENANTS; ATT�RNEYS' �EES; �ULI��CTI�� C�STS. Except vvhen <br /> proh�bl�ed by Iaw, Tr�s��r �.grees to pay a11 af Beneficiar�'s e�tpenses if Trustor �rea�hes any c�venant in this Securit�r <br /> �ns�ru.m�n�. Trustor w�ll als� pay an demand any amount �ncurred b Benefi�iary for �nsurin�, inspecting, preser��ng �r <br /> other,wise pratec��ng the �'r�per�y and�enef�ciary's security inter�st. �se e�penses vvi�� �ea�'x��erest from th�da�e.of the <br /> payment u.n��i pa�d �n �,i�� a� the highest �nterest rate�n effec� as pra��ded 1n the terms of the Secured Debt. Trustar agrees <br /> ta pay a11 casts and ���enses incurred by, Benefic�ary in, c�1lec�ing, �nfor�ing,ar pro��c�i�g Benefi�iary's rights and <br /> remedl�s under th�s Securi��r �nstrumen�. Th�s amaun� may xnc�ud�, but �s not 11n�ut�d �o, at��rneys' f�es, caur� costs, and <br /> other legal. �xp��ses. T�.xs �ecur�t� Instrument shall rema�n �n effect un�i� released. �'�-ustax a�gre�s �o pay for an� <br /> re�ordat�on�as�s of such r�Iease. <br /> 17. ENVIR�]NMENTAL I.r�.'L�VS AND HA�ARD�US SiT�STAN�ES, As used in t�.i� s�ctxor�, ��} ���ironmental Lavv <br /> means, �ri�hou� l�mitatio�, th� �omprehensive Environm�n�al Response, C�mpensa�ion and L�ab�l�ty� Act ��ERCLA, 42 <br /> U.S.�. 95�1 e� seq:}, and all ather federai, s�a�e and l�cal �aws, regulat�ans, ord�nances, co�� ord.�rs, at�orney g�neral <br /> opinlans or�nterpret�ve�e�ters concerrung�he public health, saf�ty, �elfare, env�ronment�r a���rdaus subs�anc�; and ��} <br /> Hazaxdous Subs�ance m�ans any t�xic, radloact�ve or ha.zardous mater�al, �vaste, pollutan� a� c�n�aminant which has <br /> character�sti�s w�.ich ren�er �he substance,dangerous ❑r pate�tially �ang�rous �o �he public health, safe�y, v�re�fare or <br /> e�"1V'1r4�YlLIlt, Th� �erm ����udes, �rithout luru�a�xan, any substances defined as T'hazard.ous ma�erial�" "tox�c subst�nces," <br /> „hazardous�vas�e" �r "hazardous subs�an�e" under any Enviranmen�a� La�v. <br /> Trustor r�preser�ts, �varrar��s and agrees tha�: <br /> A. E�c�pt as pre�iausly disc�ased and ackno�vledged in �vriting to B�nef�c�ary, n� Hazaxd�us Subs�an�e �s �r will be <br /> loca��d, stored �r r�leased on or in.the Property. Th�s res�rlct�on does nat appl�r ta s�x�.a�� �uan��tles nf Hazardous <br /> Subs�an�es that axe generai��r�cagruzed�o be appropriate for th�normai use and ma.��.tenance af the Prop�r��. <br /> B, E�cept as pre�ious�y,disclos�d and acknowle�ged in,�vr�xing ta Benef�ciary, Trustor and every �enant have be�n, <br /> are, and s�ai�rer���n fu11 comp��an�e�v�th any appi�cable En�ironmental Law. � <br /> C. Trustar sh�.� iri�7�dia�ely notify Benefi�iar�r if a re�ease or t.�re��en�d r���ase af a H�.z�.rd�us Substance accurs an, <br /> under nr ab�u� t�e Froper�� ar there is a�zalat�o�of an� Env�ranmental Lavv c�ncerru�g �he Proper�y. In such an <br /> even�, Tr�sto�sha���ake a11 nec�ssary r�medial action��acc.ordance�rith any EnW�r4nme�ta�La�. <br /> D. Trus��r sha11 imr��diately na�if�Benefi�iary in writing as s�an as Tru�tor�ias reason t���liev�there�s any pending <br /> or �hreatened �nv�s�� a�ion cla�m vr roceedin rela�in to h r <br /> ���5 , g, , � p g g t � elease or �hr�a�ened release af an� Hazardous <br /> tanc�ar the��01���on of an�Env�ranmen�al Lavcr. <br /> 1S, �4NDEMNATIC3N. T�ustor�vill give B�neficiary prompt not�ce of any.pending nr threater�ed action, by priva�e or public <br /> ent�t�es to purchase�r take any or all �f the Proper�� thraugh condemna�lon, enunent dnma�n, ar an� o�her means. Trust�r <br /> authori2es S��e�'ic�ary �o �ntervene in Trustvr's name in any �f��ie above described act�ar�s or c�aims. Txus�or assigns to <br /> Benef�ciary �h�p�4ceeds of an� av�ard ar c�aim for damages c�nn���ed vsri�h a condemna�ior��r a�her ta.k�ng of all ar an� <br /> part of �he Proper�y. Su�k� praceeds �ha11 be �onsidered payments ar�d �vill b� appl�ed as provid�d in this Securi�� <br /> Ins�rument. 'T�i� assignmen� �f proceeds is subject ta the term�of any prior mor�gage, d�ed of tru��, securit�r agreement or <br /> other 1�en d�cuxnent. <br /> 1�. INSURAN�E. Trust�r sha�� keep Praper�y insured agains� l�ss by �re, �.00d, theft and o��i�r hazards and risks r�asonably <br /> assacla�ed with the Praper�y du� to ��s �ype and �acatlon. Th1s �nsurance sha11 b� maintain�d in the amounts and f�r th� <br /> per�nds that Beneficiary requires. '�hat Beneficiar�requires pursuant ta the preceding ser�t�n�e can change during �he term <br /> of �he Secured Debt. The �nsurance carr�er prov�d�ng the insurance sha11 be.�hosen �y Tru�tor subject to Beneficiary's <br /> approva�, vcrhrch sha�l not be unreasonably �lthheld. If Trustor fa��s to mainta�n�he�o�erage descr�bed ab��e, Benefic�ar� <br /> may, a� Benef�ciary's op�ion, alotain coverage ta prot�ct Beneficiary's righ�s �n�he Praper�y according ta the �erms af this <br /> 5ecur�ty�ns��e�t. <br /> A�� i.nsuranc� pa��cies ar�d renev�a.�s sha�� �e ac�� �ab1e �Q Benefi�iary and sha11 inc�ud� a s���ard "mar�gage clause" and <br /> where a licahl� "loss " • • • , . . ' <br /> , �. �e clause. Trus�or s�ia1� lmmed� <br /> . P� , p 3� a�e�� no�i Benefic�ary af car�cellat��n ar,terminat�an of�he <br /> lnsurance. Bene�c�ary s�a�l ha�� th� righ� to .ho�d �he po��cl�s an rene.wals. If Bene�ciary requ����, .Trustnr shal� <br /> �mmedlately��ve�o Benefi��ary all recelpts of pa.�d prem.�� ar�d renev�a.�no�ic�s. Upon lossy Tru.stor�hall g1v�immediate <br /> na�i�e to the ulsurance carrrer and Benefic� . Ben <br /> ary eficlary may make proof af l�ss�f not made�mrx�edlatel�by Trus��r. <br /> (page 3�f 41 <br /> � 1994 VIloiters Kluwer�ir�ancial 5er�ices-gankers Systems�M Farm RE-DT-N� 1�I1512�Qfi � <br /> � <br /> VMP�-C'�65�NE��a�oa� <br />