Z�15�491�
<br /> 14. DEFA�ULT. Tru��flr wz�l �� in d�fault if any par�y ob��ga�ed on the Secured D�bt fazls �oa��-nak���a���x��n.t.-when,,ydue. Trustaz�
<br /> wi�I be zn defaul� if a breach occurs under �he �erms af th�s Security �nstruzri��z��or a:�y ti��h�� document execu�ed far th�
<br /> purpose �f�r�atin�, secur�ng or guarar��y�ng �he Secured Debt. A good fa�th?be��ef b�_.B��.�f�c�a�r� tha� Benef�c�ary at any
<br /> ��me �s �nsecure w��h resp�ct ta any person or en�lty �bligated an �he Secured€��L��b�-.o.�.,.a�ha�,,.�.�e.�px�spect of.an��ayment o�r
<br /> the va�ue of th�P�roperty z��mpaired shal� also cans��tu�e an event af d�fault. �
<br /> 15. I�N.�]]I�S ��T DEFAULT. �n s�me �nstances, federal and sta�e Iaw �z�� requir� Beneficiary �� provide Trustar with
<br /> na�ice �f the r�gh� to cu�e or other no�zces �and may es�abl�sh ��me s�hedu�es for foreG�osure ac�zons, Subject to �hese
<br /> limita���ns, �f any, Beneficiary may acce�erat�the Secured Debt and foreclas��his Security�n��rumen��n a manner pravzded
<br /> by�aw if Tru�tor zs�n defau�t.
<br /> A.� �he �ption af Benefic�ary, all ar any par� of the agre�d fees and charges, a�crued �nterest and pr�neipal shai� be�ome
<br /> irnme��ately due and payabie, af�e�gi�ing notice if requ�red by law, upon�he occurrence of a defaul�or an��ime ther�af�er.
<br /> In addi�ion, Benefzciary shall be en���led �a all the remedies prov�ded by �a�r, �he terms of the Secured Debt, th�s �ecurity
<br /> �ns�rument and an�related dacuments, �ncluding wi�haut Iimi�at�an, �he p�wer�o sell the Property.
<br /> �f�here �s a defaul�, Trust�e sha�l, �n addition �a any othe� permi�ted rem�d�r s at the request of the Beneficiary, adver�ise
<br /> and seli the Fraper�y as a�vh�ie or in se�ara�e par�els at pub�z� auc�ion�o �he highest bidder ��r cash and can�r�� abso�ute
<br /> �zt�e free and ciear af al� right, tit�e and �nteres� �f Trus�a� a� such time and pla�e as Trus�ee d�signa�es. Trustee sha�� give
<br /> not��� of sale inc�uding �he ��me, t�rms an� plaee of sa�e and a description af�h� prape�y to be soid as required b� th�
<br /> appl�cab���aw in�ffect at�he tim�of the propased sa��.
<br /> Upon sale �f tihe p�oper�y and to the extent no� prahibi�ed by �aw, Trus�ee shaii make and del��er a deed to �he Property
<br /> sold wh�ch canve � absa�u�e t�tle ta �he ur��aser, and af�er f�rst a in �.� fees char �s and cti�fis sh��l a to Benef�ciar
<br /> ali m�ne s advanced for re a�rs �a�es lnsurance Iiens assessmen� agn.d ri r e � � p � y
<br /> Y P � s s , p � n c u m b r a n�e s a n d �n�e r e s�t h e r�o n, a n d t h e
<br /> pr�n�z pal and xn�eres� on t h e S�c u r e d D e b�, p a y i n g �h� s u r p l u s, i f a n y, t� T r u s t o r. B e n e f i c z a r y m a y p u r c h a s e t h e F r a p e r��.
<br /> T he rec�ta ls in any dee d o f�onveyance s ha�l be pr�ma facie evi d�nce o f�he facts set f�rt h t here�n.
<br /> A�� �remedies are d��tznc�, cumula�ive and not exclusiv�, and th� B�nefzczary is en�ztled to a11 remedies �r�v�ded at law ax
<br /> equ��y, wh�th�r or not exp�essly set forth. The acc�ptance by Benefi�zary of an� surn in pa�men�or part�a� payment on the
<br /> Se�ured Debt after the�a�anc�rs due or�s acc�lerat�d or af�er fore�losure pra�e�dings are�z�ed shail not�ons�ltute a�vaiver
<br /> of Senefxczary's r�gh� to re�quire �omplete �ure of any ex�s�zng defau��. By no� exerc�sing any remed� on Trust�r's default,
<br /> Benef���ary do�s n�t�a�ve Benefic�ar�'s right to �a�er consider�h�even�a defaul�if i�cont�nues or happens again.
<br /> l�. ��PENSES; ADVA�C�S �N CC]VE�A�TS; ATT�IRNEYS' FE�S; ��7�LE�TI4� ��STS. Ex�ept when
<br /> prohibi�ed by la�, Trustar agrees to pay a�1 af Bene�ciar�r's expenses zf Trustor brea�hes any cav�nan� �n �his Securzty
<br /> Znstrument. Trus�or wi1l a�so pay on demand any amount �ncurred by Benefieiary f�r znsurzn�, �nsp��t�ng, preserving �r
<br /> oth�r�aise protec�in� �he Pr�perty and Benef�ciary's secur�ty in�eres�. These expenses wii� bear�n�erest from �he date of the
<br /> paymen�untxl paid �n full a� the highest inte�re�t ra�� �n effect as provided in the terms af the Secured Debt, Trus�ar agre�s
<br /> to pay al1 costs and expenses �ncurred b� Beneficiary �n co�le�tzng, enfor��ng or pr��ecting B�neficiary's righ�s and
<br /> remed�es und�r �,is Securit� Ins�rum�nt. Th�s amaunt may in��ude, bu� �s not l�m�.ted �o, at�orneys' fees, court costs, and
<br /> a�her �egal expenses, This S�cur�ty �nst�rument sha11 remain zn effect un�il released. Trus�or agrees tio pay far any
<br /> recordat�on cos�s of such re�ease.
<br /> 17. E�VIR�I�T�NTAL LAV'�S A�ND HA�ARD�US SUBSTAN�ES. As used zn �.hzs section, �1.� Environmental Law
<br /> means, w��haut limi�ati�n, the Compreh�ns�v� �nvir�nmental �espanse, �ompensat�on and Liabilzxy Act ��ER�LA, �2
<br /> U.S.�. ��4� et seq,}, and a1� �ther federa�, sta�e and l�ca� �a�s, regulat�ons, ordrnanc�s, court orders, attorney g�nera�
<br /> op�nzons ar znterpr��zve 1et�ers concern�ng th�public hca�th, safe�y, �velfa�e, environxnent or a hazardous �ub�tanc�; and �2)
<br /> Ha�ardous Substanc� means any tax�c, radioactz�e or hazardaus mater�al, was�e, pollu�arz� �r �an�aminant �h��h has
<br /> charac�eris�ics which render �he substance darz�erous o� p���n�ia�iy dangerou� to �he public h�alth, safe�y, we�fare or
<br /> env�ronm�nt. The term znc�udes, withou� �xm�tat�fln, an� substances def�ned as "hazardaus ma��rial," "�axic substances,"
<br /> "hazardous was��" or "haz�rdous su�bs�ance" under any Enviranmen�al Lavv.
<br /> Trustor repres�n�s, warran�s and agrees that;
<br /> A, Excep� as pre�ious�y d�sc�osed and acknowiedged in vvr��xng to Beneficxary, no Hazardou� Substanc� is or wzll be
<br /> �ocat�d, stored o� releas�d on o� �n the Prop�rty. This restr�ctzon does nat appl�r to small quant�t�es of�azardous
<br /> Substance� �ha�ar�g�n�ral�y recogn���d to b�appropr�a��for t.h.e norm.a�use and main�enance of�he�raper��,
<br /> B. Except as pre�zausi� dzsc�osed and a�know�edged xn wr��ing to Beneficiary, Trustor and ever� tenant have b�en,
<br /> are, �nd sha�l rerna�n�n full camplaance wz�h any app�xca�I�Environmental Law,
<br /> C. Trustflr shal� �mme�.zately no�ify Ben�f�c�ary �f a re�ease or thr�a�ened re�ea�e �f a Haza�dous Substance occurs on,
<br /> under or about �he Proper�y or ther� is a v�o�a��an of any En�ironrnen�al Law c�ncernzng the Property. �n su�h an
<br /> ���nt, Trus�or sha11 take al�ne�essary remedia� action�n accordance uri�h any Environmental Law.
<br /> D, Tru��o�sha�� immedia�e�y n��ify Ben���iary in writxng a� soon as Trus�or has �easan�� be�xev��here is any pending
<br /> or t�.rea�ened �nvestiga�.xon, claim, or pra�eeding re�at�zag �� the release or �hreatened re�ease �f any �a.zard�us
<br /> Substance or the�iolat�on of any Environmen�al Law.
<br /> 1$, C�NDEM�IATI�t�. Tru.sttir wzx� giv�Benefzc�ary prampfi no�ice of any pend�ng or �hreatened act�on, �y priva��or public
<br /> en�l�zes to purchase�r�ake any ar a�l of�he Praper�� through condernnation, emxnen�d�main, ar any o�her means. Trus�Qr
<br /> au�hari2�s Benefzeiary to xn�ervene xn Trustor's nam� in any of the above descrzbed actions or claims, Trus�ar ass�gns �a
<br /> Benef�czary �h� proceeds of any award �r claim for damages conri�cted �xth a candemnatian or other ta.��ng af a�� ar an�
<br /> par� �f �he Prop�r�y, Such proc��tls sha�l b� considered pa�men�s and wz�� be applied a� pra��ded in �h�s 5e�urity
<br /> �nstrum�n�. Th�� ass�gnm�r�� �f prQceeds zs sub�ec�to the terms of any pr�ar mortgage, deed of�rust, secu�i�y agreement or
<br /> other l�en document.
<br /> 19. �NSiTRA�C�. Trustor sha�� keep Prap�rty insured agaznst ��ss b�r fire, flaod, thef� and other hazards and r�sks reasonably
<br /> assoc�a�ed wz�h the Proper�y due to zts t�rpe and l�ca�ion. Th�s insurance shall be rna�n�ained in the amounts and for the
<br /> periods tha�Benef�ciar� requ�res. '�Nhat Ben�f�ci�r�requires pur�uant�4 the pr�c�ding sen�ence can chan�e durzng �he term
<br /> of �he Secured De��. The �nsuran�e carrier prov�d�ng the insurance shail be chosen b� Trustor subje�t �� Benefzc�ary's
<br /> appraval, which sha�.l nat�e unreasonab�y wi�hhe�d, If Trust�r fai�s �o maintain the coverage described above, �eneficiary
<br /> may, at Benef�ciary s opt�on, ob�ain coverage to prote�t Bene�c�ary's rzghts in tihe Property a�cording �o �he ��rms of this
<br /> SeCuri�y�nstrumen�.
<br /> A�� in�urance po��c�e� and renewa�s shall be accep table to Ben�fic�ary and shal� �nclude a s�andar� '°mor�gag� c�ause" and,
<br /> where a Iicable "�oss a��e clause." Trus�or shall �
<br /> PP � p � mmedza���y notzf� Benef�c�ary �f cancella��an �r t�rm�zaat�an af�he
<br /> �n�urance. Benef��iary shall have �h� righ� �o ho�d th� pali��es and renewa�s. �f Benef�ciary requires, Trust�r shaii
<br /> �mrnedia�e�y �i�e t� Benef���ar� alI recei�ts of aid p�emiums and renewa�notic�s. [.�pon��ss, Trustor shall gzve immediate
<br /> n�tice�o the�nsurance carr�er and Ben�fze�ar .��nef�ciar ma make ro�f `
<br /> y � � p a��oss i�no�made zrnmed�a�el�by Trustor.
<br /> �� (,aage 3 af 4J
<br /> � 1934 WoEters Kluwer�i�,ar�cial Servi�es-Bank�rs Systems�M Form RE-OT-N� 12115J2fl�5 �
<br /> VMP�-C�65�NEf�0708)
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