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Initials: <br />201402718 <br />involving any Hazardous Substances that would materially affect the value of the <br />Property or would require clean -up or remedial action under federal, state, or local laws <br />and codes. <br />DEFAULT AND REMEDIES <br />Trustor Right to Quiet Possession <br />26. Until default by the Trustor under this Trust, the Trustor will have quiet possession and <br />receive the rents and profits from the Property. <br />Events of Default <br />27. The Trustor will be in default under this Trust upon the happening of any of the <br />following events: <br />a. if the Trustor defaults in the payment of the Principal Amount, interest or any <br />other amount secured by this Trust, when payment of such amount becomes due <br />under the terms of this Trust or as elsewhere provided for any other amount <br />secured by this Trust; <br />b. if the Trustor defaults in the observance or performance of any term or covenant <br />which the Trustor has agreed to observe or perform under this Trustor or <br />elsewhere; <br />c. if any information or statement the Trustor has given or made before, at or after <br />signing the Trust, in respect of the Property or the Trustor's affairs is incorrect or <br />untrue at the time it was given or made; <br />d. if the Trustor ceases or threatens to cease to carry on in a sound businesslike <br />manner, the business in which the Trustor ordinarily conducts on, or with respect <br />to all or any part of, the Property; <br />e. if the Property is a condominium unit or units, a vote authorizes termination of the <br />condominium or the sale of all or substantially all of the condominium <br />DiA) <br />