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<br /> 14. D�FAULT. Trustar v��ll be in default if any par�y�b�x�ated an the 5ecured I]ebt fails to ma.�e paymen�when due. Trustor
<br /> �vil1 be in defau�t �f a breach accurs under �h� ��rms of th�s Secur��y �nstrument ar any o�her dacument execut�d f�r the
<br /> purpose of creat�n�, securing �r guaran�ying the 5ecur�d Deb�. A go�d faith belief by Benef�ciary tha� Benefi��ar� at any
<br /> t�rne zs �n�ecure w�t h respec� �o an�person ar en��ty o b��ga�e d on t he Secure d De bt or t hat�he prospect o f any paymen� or
<br /> the va�ue af�he Proper�y is�mpazred sha��also c�nstitute an e�ent of defau�t.
<br /> 15. REMEDIES �N DEFAUIIT. �n some ins�ances, federal and state �avw vvi�� requzre Benef�ciary ta pro�id� Trus�or �ith
<br /> notice of �he right �o cure ar other notice� and rnay estab�ish time schedu�es for f�rec�osure actions. Subjec� �o th�se
<br /> �irn�ta�ions, zf any, Beneficiary may accelerate�he S�cured Debt and fareclose thi� S�curi�y Ins�rum�n�zn a rnanner pr��zded
<br /> by�aw i�Trus�or�� �n default.
<br /> At the ap���n of Ben�fi��ary, a�� ar any par� of th� agreed f��s and �harges, accrued interest and princ�pal sha�� became
<br /> imrn�diate�y due and payabl�, aft�r giv�ng notice if required hy Iaw, upon the��currence�f a default or anytime thereaft�r.
<br /> �n addi��on, Benefzc�ary shall be �ntitled �� a�� the r�medies provided by Iaw, the terms af the Secu�red L7ebt, th�s �ecu.rity
<br /> In�trumen�and any r�lated documen�s, includ�ng�ith�ut X�mi.tatzan, the pawer to setl th�Proper�y.
<br /> Zf there is a defau�t, Trustiee sha11, in addition to an� a�her permi�ted remedy, at the reques� �f the Senef�ciary, adv�r�ise
<br /> and se�l the Prnperty as a v�ho�e or in s��ara�e parcels a� pub�ic aucti�n t� �he hzghes��idder f�r cash ar�d conv�ey abso�u�e
<br /> �i�te free and clear af al� rzgh�, ��t�e and �nterest af Trust�r a� such time and p�ace as Trus��e designates. Trustee s�all give
<br /> notice of sale including �he �ime, terms and p�ace af s�e and a description of the prap�r�y �a be so�d as r�qu��e�l by the
<br /> appli�ab�e Iaw in effec�at the tirne of�he prapos�d sa�e.
<br /> Upan sa�e af the pr�perty and �o �he ex��nt not prohibz��d b� lavv, Trustee shall mak� and d��iver a deed to the Praper�y
<br /> s�ld which c�nweys abs��ut�tit��to the purchas�r, and after fzrst pa�ing aI� fees, charges and costs, sha�� pa� ta Be�eficzary
<br /> a�1 moneys advanc�d f�r r�pa�rs, taxes, znsurance, �iens, assessm�nts and prior encumbranc�s and inter�s� �h�reon, and the
<br /> principal and �n�er�s� an the Secured Debt, pa��ng the �urplus, if any, �a Tru�tar, Bene�ciary may purchas� the P�operty.
<br /> The recltals in an�deed of can�e�ance sha��be przma fac�e evidence of the fac�s set farth ther��n.
<br /> AI� remedies are d�stinct, cumulative and not exc�us�ve, and �he Ben�f�ciary is entitled ta ai� remed�es �rovzded a� �aw ar
<br /> equity, wheth�r or not expressl� se�forth. The a�ceptance by B�nefi�iary af any sum�n paymen�or par��a� pa�ment on �he
<br /> �ecured D�b� after the ba�ance�s due or is accelerated�r aft�r far�c�osure proceed�ngs are f�led sha1� n��constztute a wai�er
<br /> of Benefzciary's righ� fo require comp�e�e cur� �f a.�ny exis�zng defau�t. By n�t �xercising an� remedy an Trustor's defau��,
<br /> Benef�ciary does nat waive��nef��zary's r�ght���a�er cansid�r�he eW�nt a default if xt cont�nu�s ar happens again,
<br /> 15. E�PENS�Ss ADVANCES �N C�'�ENANTS; ATT�R.�E'S�S' FE�S; C�LLE�TIC]N C�STS. Excep� when
<br /> prohibited by Iaw, Trustor agrees to pay aII flf Benef�c�ary's �xpenses if'Trustar breaches any cov�nant in thxs �ecuri�y
<br /> Instrument, Trustor v���� a�so pay an demand any amount �ncurred �y B�neficiary for zn�urzn�, �nspec�ing, preser,ving �r
<br /> a�herwise protec�zn� the Property and Beneficiary's s�cur��y �n�erest. Th�s�e�penses wi1l bear�n�erest fram the date of the
<br /> payment until paid in fu1� at the h�bhest �n��r�st rate in�ff�c� as pr�vided in the terms of�he Secured D�bt. Trustor agrees
<br /> �o pay aI� cost� and expens�s incurred by Benef�c�ary �n co�����ing, enforcing ar protec�ing Beneficiary's r��hts and
<br /> rem�dies under th�s ��cur�ty �ns�rurn.ent. Thz� amoun� may inc�ude, but is no� 1imi�ed to, a�t�rneys' fe�s, caur� c�sts, and
<br /> other Iegal expenses, Th�� Se�urity �nstrument shai.� remazn in effec� until released. Trus�or agr��� to pay for an�
<br /> recardat�an�os�s�f such re�eas�.
<br /> 17. E�"L��N'MENT�.L LA'L�S AND HA�A�C]US SUS�TANCES. As used �n �his �ect�an, ��} En�iranmen�al La�
<br /> m�ans, wi�h�u� �im�tatian, �he Comprehensi�e En�iranmenta� Response, Compensation and Liabi�i�y Act �CERCLA, 42�
<br /> U.S.C. 964� et seq.}, and a�� ather federa�, state and lacal Iaws, regula�ions, ord�nances, caur� orders, attorney genera�
<br /> opznions or interpret��ve 1e�ters concernzng the pub��c hea�th, safety, welfar�, environment ar a hazardaus subs�ance; and ��}
<br /> Ha2ardous Substance means any taxic, radiaac�i�e ar hazardous mater�a�, v�as�e, po��utan� or �ontaminant �vhich has
<br /> characteristics wh�ch render the substance danger�us or po�en�ia�ly dang�rous ta the pu���c hea�th, safe�y, �elfar� or
<br /> env�ronment. The �erm inc�udes, �ithout limitat�on, any substances defin�d as "ha.2ardous materia�," „tox�c subs�.ances,"
<br /> "ha2ard�us was�e" ar "hazardaus subs�an�e" und�r any Enwironmen�al Law.
<br /> Trustor r�presents, warran�s and agrees that:
<br /> A. Except as prevzausly d�sclased and acknflwledged in wri��ng �o Benef�c�ary, no Ha�ardous Subs�anc� �s ar w��� b�
<br /> Iacat�d, stared or releas�d on�r in �he proper�y. This restr�c��an d��s not apply �o small quantii�ies �f Hazardous
<br /> Substanc�s that are gen�ra��y recognized to be appropriat�for th�n�rrna�use and ma�n�enan�e of the Proper�y.
<br /> B. Except as pre�ious�y d�sc�osed and acknowledged in wr��xng ta Ben�f�ciary, Trustor and e�rery tenant hav� been,
<br /> are, and sha11 rema�n�n fuZl �omp�iance wi�h any appl�cab�e Env�ronmen�al Law.
<br /> C. Trus��r shali immed�a�e�y notxf� Beneficiary if a re��ase or threaten�d release of a Hazardous Subs�ance oc�;urs an,
<br /> under ar about th� Pr�perty �r there �s a�xolat�on of any Environm�n�a� Law can�ern�ng the Property. �n such an
<br /> even�, Trustor sha�l �ake al�necessar�remedia�actxon zn accardan�e with any Environmentai Law.
<br /> D. Trus��r shall immedia�.el�notify.Beneficiary in writing as soon as Trustar has reason�o he���ve�her�is any�endzng
<br /> or �hreatenet� inves�igat�on, cla�m, or proceeding rela�ing to the release or threa�ened reXease of any Hazardous
<br /> Substance or the�io�at�on�f any En�iranmenta� Lavv.
<br /> 1�. �C]�DEMNATI�N. Trustar will give Benef�ciary prampt notice of an�r p�nding or�hreatened ae�ion, by private or pu�lic
<br /> en�ities to purchase�r�ake any or ai� af the Proper�y �hr�ugh condemnatzon, �nunent dama.in, or any other m.eans. Trustar
<br /> author�zes Beneficiar� t� in�ez vene �n Trustor's name in any of�h� above d�s�r�bed actians or claims. Trustor assigns to
<br /> Bene�ciar� the pr�ceeds of any av�rard or cia�m for damages �annee�ed w��h a condemnat�on �r ofher taking af aIl ar an�
<br /> par� �f the Property. Such �racee�s sha�� be considered payments and will be app��ed as pro��d�d �n th�s �ecur��y
<br /> �ns�rument. Th�s assxgnment of proceeds �s su�j��t t� th�terms af any prior mortgag�, deed of trust, securxty agre�rnent ar
<br /> other�ien do�um�nt.
<br /> 19. INSURANCE. Trus�ar shall keep Proper�y znsured against loss�y fire, fload, �heft at�d ather hazards and risks reasanab��
<br /> assac�ated v�i�h th.e Pr�perty due ta i�s type and locatian. Thxs insurance sha.�I be maintained in the amaun�s and far �he
<br /> per�4ds �ha� Beneficiar�r requ�res, �i�'hat Benefic�ar�r requ�res pursuant to the preceding sentence can chang� during �he�errn
<br /> of �h� Secur�d Debt. The �nsuranc� carrier pro��ding the �nsurance shal� be chosen by Trus�or su��ect t� Benefic�ary's
<br /> approval, wh��h sha�.l no�be unreasonab�y withh��d. Zf Trus�or fails to mainta�n t�� coverag� described a�ave, B��.eficiary
<br /> may, at �eneficiary's option, a��a�n coWerage to prot�c� Ben�f�c�ar�'s rights in the Proper�y according to �he terms of�his
<br /> Se�ur�ty�nstrument.
<br /> AXX znsurance po�ic�es and renewais sha�� b� acce tab�e to Beneficiary and shal� znc�ud� a s�andard "mar�gage clause" and,
<br /> where a �icable "lass a ee c�ause." Trus�or s�all xrnmediate� no��f Benefcia of cance��at�on or termxnatian af �he
<br /> insurance� Benefic�a sha�l have �h� rz ht ta hold �he ol�cYes and renew�.s,�f Beneficia re uires Trustor sha�l
<br /> irnmed�at�� �ve�o Benef�c�a a�� receip s of a�d remzums and renewa�n��ices. U an ioss Tr�usta s ha��� iv��mmediate
<br /> notice to the�suranc�carrzer a�.n.d B�nefzcia .�eneficia ma make r�of�f�oss if nat made�mmediat�� b Trustor.
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<br /> � i 994 W�Iters Kiuwer Financi�!S�r�ices-Bankers 5ysiems�M �vrrn RE-DT-NE 7 2/15/2006 �,�� r
<br /> VMP�-C�55(NE) tfl7osy
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