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Z�15���57 <br /> 1�. DEFAULT. TrusCor v���l be in default�f any par�y abligaied on the Secured Debt�a�ls �v���ake pa�ment.:�hen.:da�e. Trustor <br /> v�il� be in defau�� �f a breach occurs under the �erms of this Securzty �ns�rurrient or a:riy ���.er dacument executed for th� <br /> purpos� af creat�ng, securing or guarantying �he Secured Deb�. A good fai�h��be�ief by,.�3ex�eficiary �ha� Benef���ary at any <br /> t�me �s �nsecure w�th r�s���� to any per�on or entity �bl�gated on �.e Secured�I�ebt.or.�t.ha�:.���e:,p���pect a�an�r paYm�nt �� <br /> the value of�he Pr�p�rty�s�mpair�d�ha�l aiso�ons��tu�e an event af d�faul�, � <br /> 15. REMEDIES �N I]EFAIJLT. �n some instances, federa� and s�a�e la�v w��l require Benef�ciary �fl provide Trust�r w�th <br /> n�tice �f the right to �ure or other notices and may establ�sh time schedu�es for for�closure ac�ions. Subject ta ��aese <br /> �im��ati�ns, �f any. Ben�fxCiary may accelera�e the S�cured Debt and foreclose this Se�urity �ns�run�ent in a manner prov�ded <br /> b��aw�f Trustor�s rn defau.lt. <br /> .�.� the agtion of Beneficiary, a�.� ar any part �f�he agre�d fees and charges, accru�d interest and princ�pa� shall become <br /> �mrnediately due and payable, after giving not�c��f requ�r�d by law, upon the occurrenc�of a default or anyt�me thereafter. <br /> �n addition, Bene�ciaxy sha�� �e �ntzt�ed to al.� the r�med�es pravided by law, th� term� of�h� S�cur�d D�bt, th�s Security <br /> �n�trument and an�re�ated documents, �nc�uding ur��h�ut��mu�ation, �he pow�r to sell the proper�y. <br /> If there �s a d�fau��, Truste� shall, in add��ion to any at�er perm�tted reme�y, at the requ�s� of the Beneficiary, advertise <br /> and s�ll the Proper�y as a whale or in se�arate parc�ls at pu�lic auc�ion to �he highest bidder for cash and conv�y abso�ute <br /> title free and c�ear of a1� r�gh�, t�tle and �nteres� af Trust�r at such t�rne and p�a�e as Trus�ee designates. Trust�� shall give <br /> natice af sale inc�uding �he time, terms and plac� of sa1� and a descriptxon of�he property ta be so�d as required b�r �he <br /> applicable�aw in eff�ct at the t�me�f�h�pr�posed sa��. <br /> IJpon sale of th� proper�y and �o the extent no� proh�bited by law, Trus��e sha�I mak� and deli��r a deed �� the Pr�perty <br /> �o�d w�aich conve s absa�u�e�it�e�o the urchaser and af�er firs� a �n aIi f�es �har es and cos�s sha�l a <br /> �' p � p Y g � g s p y tfl Bene�c�ar� <br /> a�I moneys advanc�d f4r repairs� taxes, �nsurancey �iens, �ssessm.ents and prior en�umbrances and interest�hereon, and the <br /> principal and interest �n the Secured Debt, paying �he surplus, if any, to Trustor. Ben�ficiary may purchase �he Pr�per�y. <br /> The rec�tals�n any d��d of c�n�eyance sha.�l be pr�ma faci�e�ridence�f�he fact�set forth therern, <br /> Ali remedies are d�s�inct y G1.�.I�]U�d.�1V� �i1C� n.�t �XCIUSI�V�, and the Beneticiary is en�i�led �� a�� rem�d�es provid�d at law or <br /> �qu��y, urhether or no� expressly set for�h, The acceptan�e by B�ne�ciary of any sum in paymen��r par�ial payment an th� <br /> Secured Debt after the balance�s due�r is acce�era�ed or af�er fore�l�sure praceedings are f��ed shall n���onsti�u�e a�raiver <br /> of Benef��iary's right to require complet�cure flf any existing defau�t. By not ex�rcis�ng an� remedy on Trustor's defau�t, <br /> Bene�ciary d�es not v�ai�e Beneficiary's right t��a�er consider th��ven� a defau�t if it con�inues or happens a�ain, <br /> 16. E�PENSES; ADVAI�I'CES �N CQ'L�ENA�TS; ATT�RNEYS' ;FEE�; CQLLECTI�N �C�STS. Except when <br /> prohi�ited �y law, Trustor agrees ta pay a�1 of Benefici�ry's exgenses if Trustor breach�s any covenant in this Secur�t� <br /> �nstrument. Trust�r w�ll aJ.so pa� �n dernand an.y amount �n�urred by Benefi��ary f�r insuring, inspe�ting, preserving �r <br /> �therwise prot��t�ng the Property and B�neficiary's secur�t� interest. Thes��xpenses wzll b�ar 1n��rest fram the�a�e�f th� <br /> paym�n�unt�i paYd �n full at the h�ghest interes� rate in eff�ct as pr�v�ded�n the terms of the Secur�d D�bt. Trus��r agrees <br /> �� pay all c�sts and e�penses incurred by Benefi�iary in coi�ec�in�, enforcing or pro�e��ing B�ne�ciary's r�ght� and <br /> r�med�es under this Securi�y �nstrumen�. Th�s amoun� may inc�ud�, but is no� �imited �o, at�orne�s' fe�s, caur� costs, and <br /> o�her 1ega� �xpenses. This Secur��y Instrument sha�� r�ma�n �n effect unt�l re�ea��d. Trustor agre�s t� pay for any <br /> recardatzon costs of such re�ease. <br /> 1�', �NVIRQNME�TAL LAWS AND I3AZARD�US SITBSTAN�ES. As us�d �n �his section, ��� En�ironmen�a� Law <br /> m�ans, ��th�ut Iimu%ta��on, the �omprehensive �nviranmental Response, ��mp�nsatzon and Liabilit� Act �CERCLA, 4Z <br /> U.S.C. g��I et seq.�, and a�� oth�r federa.�, state and I��al �aWs, r�gu�a��ons, ordinances, cour� ord�rs, attarney g�neral <br /> �p�nl�ns flr in�erpretzve Ietters�oncern�ng the pu�lic health, safety, vvelfare, enviranm�n�or a hazardous sub�tance; and ��} <br /> Hazardaus Subs�ance means any t�xic, rad�oactz�r� or hazardaus materia�, u�aste, po��utant ar contaminan� which has <br /> characteristics �hich render the 5ll�]5t3IlC� dangerous �r p�tentiaJ.�y danger�us �o th� pub�ic h�a�thy safety, �velfare or <br /> environm.ent, The ter.m. includ�s, �vithout ��mzta��an, any subs�ances defined as "ha2ardaus materia�," "t�xic substance�," <br /> "hazard�us �ras�e" �r "hazard�us substanc�" under any Env�ranmental Law. <br /> Trust�r r�presents, warrants and agrees�ha�: <br /> A. Exc�pt as pr��i�usly d�sc�osed and acl�now�edge� in writing to Benef�c�ary, no Ha.zardous 5ubstanc� is or wi�l be <br /> located, s�ored or r��eased on or in the Proper�y. This r�str�ct�on does nn� apply to small quant�ties of Hazardous <br /> Suhs�ances tha�are general�� rec�gni2ed�n be appropria�e for th,�n�rmal us�and maintenance af the Property. <br /> B. Except as previ�usly disc�ased and acknawledged in wri�ing t� Ben����ary, Trustor and ev�ry t�riant have �een, <br /> are, and shal.l remain an full cornp�iance w�th an�appii�ab�e En�iron�mental Law. <br /> �. Trus��r shal� irnn�.ediately notify Benefi�iary zf a release or threa�ened re�ease af a Hazardaus Subs�ance occurs on, <br /> under �r about the Praper�y or there is a ��ala��vn�f any Enviranmental Law c�nc�rning �h� Proper�y. In such an <br /> e�en�, Trustor shal.l ta�e al�necessary remed�a�.l.ac��on in accQrdance wi�h any En�ir�nmentaJ.Law. <br /> D. Trustar shal��mm�d�ately n�tzfy Beneficiary in wri��ng as soon as Trus��r has reasan to be�ieve there�s an�r pending <br /> or thr�atened �nv�s�iga���n, c�a�rn, ar praceeding r�lat�ng to �he release or threa��ned r�l�ase of any Hazardaus <br /> Substance or�he vialatlon of any EnvYronmenta� Law. <br /> 18. C�]NDEMNATI��. Trustor will give Beneficiary�rompt notiGe�f any pend�ng or threaten�d a�tion, by private ar publzc <br /> en�it�es�a purchase or�ake any or a�� of th�Progert�thr�ugh cflnd�rnnat�fln, em�nen�domain, or an�r other m�ans, Trustor <br /> authar�zes Benef�Giar� �o inter�ene in Trustar's name in any of�he aba�e described actions ar c�azms. Trustor assigns t� <br /> Benef�ciax� �he proceeds of an� award or c�aim for dam�ges �onnected w��h a c�ndemnation or ��.�r �ak�ng af a�l or any <br /> part �f the Proper�y. Such prac��ds sha.11 be �onsider�d pay�nen�s and wi�� �be applied as pro�id�d in �h�s Se�urity <br /> znstrum�nt. Th�s ass�gnment of pro�eeds �s subject to �h� terms af any prior mortgage, deed of trust, s��ur�t� agr��ment Qr <br /> �th�r llen dacumen�. <br /> 19. INSiTRA��E. Trustor�hall keep Proper�y insured again���ass by f�re, f�oad, thef�and other hazards and risl�s reasanably <br /> asso��a��d wi�h the Prflper�y due to i�s type and �oca�ia�. Th�� insurance sha�� b� ma�ntained in th� amoun�s and for th� <br /> per��ds that Benef�ciary requ�res. What �eneficiary requi��s pursuan�t�the pr�c��.ing sen�ence �an chang�during �he term <br /> of th� Secured Deb�. The insuran�e carrier pro�r�dxng �h� insurance shail b� ch�sen by Trustor sub�ec� �a Benefic�ary's <br /> approva�, wh�ch shall not be unreasonab�y v�ri�hheld. �f Trus�nr fa��s tfl maintazn the co�erag�described abave, Beneficiary <br /> �ma�, at Ben�f�c�ary's op�ion, obta�n c�verage t� protec� �ene��iary's rights in �he Praper�y a��ord�ng to the terms �f thzs <br /> 5ecur��y�nstrurnen�. <br /> All �nsuran��po�icies and ren�wals shall be a�ce ta�Ie to Beneficiary and sh�.� in�lu�e a standard "mor�gage c�au�e" and, <br /> wh�re a licab�e, io�s a ee �lause. Trus�or s�i 1 ' <br /> pp p y a 1 �mmed�a��l�r n���fy Ben�fi��ary af eancellatzon �r t�rm�.nat�on af the <br /> insurance. Benef�ciary shal� hav� the r�ght t❑ hoid �h� polic�es and renewa�s, If Ben��iciary r�quir�s, Trustor shal� <br /> �mmedxately��ve to B�neficiary a1I r�ce� ts af paid pr�miums and ren�wa�nQti�es. Upon loss, Tru�tor shal�g�ve�nzmedia�e <br /> na�xce to the insurance�arr�er an�Benefc i . Benef�c�a rna ma.ke <br /> �`y ry � proof af Iass�f no�made�mmed�at��y by Trustar, <br /> �-�- (page 3 of 4/ <br /> �'1994 Wal�ers ICluwer�inancial Services-Bankers Systems�� Form RE-C]T-NE '�ZI1�120C3� � <br /> VMP�-C'�65�NE3 to�v$} <br />