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_ 1994 Wolters Kluwer Financial Services - Bankers Systems * Form USB- REDT -NE 11116/2012
<br />201600296
<br />16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except
<br />when prohibited by law, Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches any covenant
<br />in this Security Instrument. Trustor will also pay on demand any amount incurred by Beneficiary for
<br />insuring, inspecting, preserving or otherwise protecting the Property and Beneficiary's security interest.
<br />These expenses will bear interest from the date of the payment until paid in full at the highest interest rate in
<br />effect as provided in the terms of the Secured Debt. Trustor agrees to pay all costs and expenses incurred by
<br />Beneficiary in collecting, enforcing or protecting Beneficiary's rights and remedies under this Security
<br />Instrument. This amount may include, but is not limited to, attorneys' fees, court costs, and other legal
<br />expenses. This Security Instrument shall remain in effect until released. Trustor agrees to pay for any
<br />recordation costs of such release.
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1)
<br />Environmental Law means, without limitation, the Comprehensive Environmental Response, Compensation
<br />and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), and all other federal, state and local laws, regulations,
<br />ordinances, court orders, attorney general opinions or interpretive letters concerning the public health, safety,
<br />welfare, environment or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or
<br />hazardous material, waste, pollutant or contaminant which has characteristics which render the substance
<br />dangerous or potentially dangerous to the public health, safety, welfare or environment. The term includes,
<br />without limitation, any substances defined as "hazardous material," "toxic substances," "hazardous waste" or
<br />"hazardous substance" under any Environmental Law.
<br />Trustor represents, warrants and agrees that:
<br />A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is
<br />or will be located, stored or released on or in the Property. This restriction does not apply to small
<br />quantities of Hazardous Substances that are generally recognized to be appropriate for the normal use
<br />and maintenance of the Property.
<br />B. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every tenant
<br />have been, are, and shall remain in full compliance with any applicable Environmental Law.
<br />C. Trustor shall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance
<br />occurs on, under or about the Property or there is a violation of any Environmental Law concerning the
<br />Property. In such an event, Trustor shall take all necessary remedial action in accordance with any
<br />Environmental Law.
<br />D. Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is
<br />any pending or threatened investigation, claim, or proceeding relating to the release or threatened
<br />release of any Hazardous Substance or the violation of any Environmental Law.
<br />18. CONDEMNATION. Trustor will give Beneficiary prompt notice of any pending or threatened action, by
<br />private or public entities to purchase or take any or all of the Property through condemnation, eminent
<br />domain, or any other means. Trustor authorizes Beneficiary to intervene in Trustor's name in any of the
<br />above described actions or claims. Trustor assigns to Beneficiary the proceeds of any award or claim for
<br />damages connected with a condemnation or other taking of all or any part of the Property. Such proceeds
<br />shall be considered payments and will be applied as provided in this Security Instrument. This assignment of
<br />proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien
<br />document.
<br />19. INSURANCE. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and
<br />risks reasonably associated with the Property due to its type and location. This insurance shall be maintained
<br />in the amounts and for the periods that Beneficiary requires. What Beneficiary requires pursuant to the
<br />preceding two sentences can change during the term of the Secured Debt. The insurance carrier providing the
<br />insurance shall be chosen by Trustor subject to Beneficiary's approval, which shall not be unreasonably
<br />withheld. If Trustor fails to maintain the coverage described above, Beneficiary may, at Beneficiary's option,
<br />obtain coverage to protect Beneficiary's rights in the Property according to the terms of this Security
<br />Instrument.
<br />(page 5 of7)
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