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<br /> 15. Remedies on Default. In some instances,federal and state law will require Beneficiary to
<br /> provide Trustor with notice of the right to cure or other notices and may establish time schedules for
<br /> foreclosure actions. Subject to these limitations, if any,Beneficiary may accelerate the Secured Debt
<br /> and foreclose this Security Instrument in a manner provided by law if Trustor is in default.
<br /> At the option of Beneficiary,all or any part of the agreed fees and charges,accrued interest and
<br /> principal shall become immediately due and payable,after giving notice if required by law,upon
<br /> the occurrence of a default or anytime thereafter. In addition,Beneficiary shall be entitled to all the
<br /> remedies provided by law,the terms of the Secured Debt,this Security Instrument and any related
<br /> documents, including without limitation,the power to sell the Property.
<br /> If there is a default,Trustee shall,in addition to any other permitted remedy,at the request of the
<br /> Beneficiary,advertise and sell the Property as a whole or in separate parcels at public auction to the
<br /> highest bidder for cash and convey absolute title free and clear of all right,title and interest of Trustor
<br /> at such time and place as Trustee designates.Trustee shall give notice of sale including the time,terms
<br /> and place of sale and a description of the Property to be sold as required by the applicable law in effect
<br /> at the time of the proposed sale.
<br /> Upon sale of the Property and to the extent not prohibited by law,Trustee shall make and deliver a
<br /> deed to the Property sold which conveys absolute title to the purchaser,and after first paying all fees,
<br /> charges and costs, shall pay to Beneficiary all moneys advanced for repairs,taxes,insurance,liens,
<br /> and prior encumbrances and.interest thereon,and the principal and
<br /> interest on the Secured.
<br /> assessments a ,
<br /> p P P
<br /> Debt,paying the surplus, if any,to Trustor. Beneficiary may purchase the Property. The recitals in any
<br /> deed of conveyance shall be prima facie evidence of the facts set forth therein.
<br /> All remedies are distinct, cumulative and not exclusive,and the Beneficiary is entitled to all remedies
<br /> provided at law or equity,whether or not expressly set forth.The acceptance by Beneficiary of any
<br /> sum in payment or partial payment on the Secured Debt after the balance is due or is accelerated or
<br /> after foreclosure proceedings are filed shall not constitute a waiver of Beneficiary's right to require
<br /> complete cure of any existing default. By not exercising any remedy on Trustor's default,Beneficiary
<br /> does not waive Beneficiary's right to later consider the event a default if it continues or happens again.
<br /> 16. Expenses; Advances on Covenants; Attorneys' Fees; Collection Costs. Except when
<br /> 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
<br /> for insuring, inspecting,preserving or otherwise protecting the Property and Beneficiary's security
<br /> interest. These expenses will bear interest from the date of the payment until paid in full at the highest
<br /> interest rate in effect as provided in the terms of the Secured Debt. Trustor agrees to pay all costs
<br /> and expenses incurred by Beneficiary in collecting,enforcing or protecting Beneficiary's rights and
<br /> remedies under this Security Instrument. This amount may include,but is not limited to,attorneys'
<br /> fees,court costs,and other legal expenses. This Security Instrument shall remain in effect until
<br /> released. Trustor agrees to pay for any 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,
<br /> Compensation and Liability Act(CERCLA,42 U.S.C.9601 et seq.),and all other federal,state
<br /> and local laws,regulations,ordinances,court orders,attorney general opinions or interpretive
<br /> letters concerning the public health, safety,welfare, environment or a hazardous substance;and(2)
<br /> "Hazardous Substance"means any toxic,radioactive or hazardous material,waste,pollutant or
<br /> Deed Of Trust Closed End-NE
<br /> Bankers Systems,'VMP® 03/2016
<br /> Wolters Kluwer Financial Services S 2014 2016050916.1.0.3454-N20160318N Page 5 of 10
<br /> 6c,7 .
<br /> c_15
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