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2� 15�81 ��
<br /> 11. ENVIRC]NMENTAL LA'�S AND HA,�ARDQUS SUBSTANCES. As used in th�s �ectzon,
<br /> (1� En�Yronm�ntal Law means, without Iimitation, the �amprehensive Environmental Response,
<br /> CampensatYon and LiabiXz�y Act ��ER�LA, 42 U.S.C. 9��1 �t seq.�, and axX other federai, state and Iocal
<br /> laws, regu�ations, ordinances, court orders, a�torney general apxnians ar interpreti�e letters cancerning the
<br /> public health, safety, we�fare, en�ironmen�or a hazardaus substance; and��} Hazardaus Substance means any
<br /> toxic, radiaac�iv� or hazar�ous mater�al., was�e, pollutant or conta.mznant which has character�stics which
<br /> render�he su�stance dangerflus or patentia.��y dangerous ta the publ�c health, safety, welfare or env�ronment.
<br /> The term inc�udes, wi�hout lzm�tation, any substances d�fined as "hazardous materia.I," "toxic subs�ances,"
<br /> "hazardous waste" �r "hazardaus substan�e" under any Envxr�nmental Law.
<br /> Trustor represents, warrants and agrees that:
<br /> A.Except as prev�ously d�sclosed and acknowl�dged �n writing �a Beneficiary, no Hazardflus Substance Ys
<br /> or will be located, stored or released an or in th� Prop�rty. T�i� restrict�on doe� r�ot apply ta small
<br /> quant�t�es of Hazardous Substances that are g�nerally recagnized to be appropriate for the narmal use
<br /> and rr�aintenanc�of the Pr�perty.
<br /> B. Except as pr��iously disc�osed and acknowledged in writing ta Beneficiary, Trustor and �very tenant
<br /> haWe been, are, and�ha.�� remain in fuil complxance v�ith any applxcable En�ironmental Law.
<br /> �.Trustor sha�I immediately notxfy Beneficiary �f a re�ease or threatened release of a Hazardous Su�stanGe
<br /> accurs on, under or al�out the Property or there rs a�ia�ation of any Environmenta� Law con�erning the
<br /> Property. In such an event, Trustor shall take a11 nec�ssary remedial actzon xn accardanc� with any
<br /> Environmenta]. Law.
<br /> D.Trustor shall immediateiy notify Beneficiary in wri��ng as soon as Trustor has reasan to bel�e�e�here is
<br /> any pending or threa�en�d xn�estzgation, claim, or proceed�ng relating ta the release or threatened
<br /> release af any Hazardous Su��tanc�ar the vio�ation of any Envxronmentai Law.
<br /> 12. ES�R4W F�R TA�ES AND INSURAN�E. Unless otherwise pravided in a separa�e agreem�nt, Trustar
<br /> will nat�e requir�d to pay to Bene�ciary funds fpr taxes and insurance xn escrow.
<br /> 13, ,I�INT AND INDIVII]UAL LIABILITY; C�--SI�NERS; Si�CCESS�RS ANI] ASSIGNS B�UND, A�I
<br /> duties un�ler this Security �nstrument ar�j oxnt and �ndi�idua�. Yf Trustor signs this S�curity Inst�ument but
<br /> does nat sYgn an e�idence of d�bt, Trustor does s� only to m�rtgage Trus�or's interest in the Property to
<br /> secure payment af the Secur�d I]�bt and Trustor does nat agree to b�personaily I�able on the Secure�Debt. If
<br /> �h�s Security xnstrument secures a guaranty b�tween Benef�ciary and Trustor, Trustor agr��s ta waive any
<br /> rzgh�s that may prevent Benefi�iary from bringing any act�on ar claim against Trustor ar any party indebted
<br /> under�he abl�gation. These rights may �nclude, but are nat limited to, any anti-deficiency or one�-actran laws.
<br /> The duties and benefi�s of this S�curity Instrument shall bind and benefit the successors and assigns of Trustor
<br /> and Beneficiary.
<br /> 14. SEVERABYLITY; INTERPRETATI�N. Th�s Se�urity Instrument �s comple�� and fully integra�ed. This
<br /> 5ecurity Zns�rumen� may not be amended or modified by aral agreement. Any section �n thxs Security
<br /> �nstrum�nt, a�tachments, ar any agreem�nt r�Iated to the Secured Debt�hat conflicts wi�h applicabi� law will
<br /> n�t he effecti�e, unless that law �xpressly or irnpliedly permits �he �ar�atzons by written agreemen�. If any
<br /> section of this Security Instrument �annot be enforced according t� its terms, that section will be sev�red and
<br /> will not affecr the enforceabiXity of the remarnder �f th�s Securi�y Instrument. Whenever used, the singular
<br /> sha11 �nclude the plural and the plural �he singular. The �aptrons and head�ngs of the sectYons of th�s SeGurity
<br /> Instrument are for can�enience onxy and are not to be used to interpret or define the terms of this 5ecurity
<br /> Instrument. Time is of the essence in this S�curi�y �nstrument.
<br /> 15. SUCCESS(]R TRUSTEE. Beneficiary, at Beneficiary's �ption, may fram ��m� to time remove Trustee and
<br /> appoint a successflr trust�e wxthou� any other formality than the designat�an xn writing. The successar trustee,
<br /> w��haut�an�eyance�f the Property, shall succeed�o al� �he ti�Ie, pawer and dut��s canferred upan Trus�ee by
<br /> this S��urYty �nstrumen�and appli�able law.
<br /> 16. N�TI�E. �CTnless otherwise required by law, an.y notic� sha11 be gYven by del�vering it or by mailin� it by
<br /> f�rst class mail ta the apprapria�e party's address on page 1 of this Securi�y Instrument, or C� any ather
<br /> address desxgna�ed in wrxting. NotxGe to ane trustor will be deemed ta be n�tic� to aII trustors. Trustor and
<br /> Beneficiary hereby request a capy of any na�ice of default, and a copy of any notice af sale th�r�under, �e
<br /> mailed ta each par�y a��he address for su�h party set forth on page I of this Secur�ty �nstrument.
<br /> 17. WAIVERS. E�ccept ta �he extent prohib�t�d by Iativ, Trustor wai�es a11 appra��ement and hom�stead
<br /> exempt�on r�ghts relating ta the Proper�y.
<br /> 1S. LINE �F CREDIT, The Secured Debt includes a revoi�ing lin� of credit. Although Che Secur��. Debt may
<br /> b�redu�ed to a z�ro balance, this Se�uri�y Ynstrument wxll remain�n effect unti� r�ieas�d.
<br /> Security Instrument-Dpsn-En�-Cvnsumer-NE ❑CP-REDT-NE 7�ZIZ�"1�
<br /> VMP4 Bankers 5ystemsTl"' VMP-C465fNEy t1 107y.�Q
<br /> Walters Kluwer�inancial 5er�ices 01 994,2p1 1 Page�vf 6
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