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2� 1 ��3393
<br /> 11. ENVIR4NMENTAL LAWS AND HAZARI�QL)S SU�STANCES. As used in this sectian,
<br /> �1) En�ironmental Law means, w�thout limitatian, the �omprehensi�� Environmental Response,
<br /> �ompensation and Liability Act (�ERCLA, 42 U.S.�, 96�1 et seq.}, and ali �ther federal, state an� local
<br /> laws, regulativns, ordinances, caurt orders, attorne� general vpinians nr interpretive letters concerning the
<br /> public health, safety, welfare, en�ironment�r a hazardous substance; and (�} Hazardaus Su�s�ance means any
<br /> tQX1Cy radivactive ar hazardous material, vvast�, pollutant or ��ntaminant whiCh has characteristics which
<br /> render the substance dangeraus or p�tentially dangerous to the public health, safe�y, welfare ar en�ironment.
<br /> The term includes, without limitatian, any substances defined as "hazardaus material," "toxic substances,"
<br /> "hazardaus waste" flr "hazardous subs�ance" under any En�ironmenta� Law.
<br /> Trustor represents, warrants and agrees �hat:
<br /> A.E�ccept as pre�iously disclased and acknawledged in writing tv Beneficiary, no Hazardaus Substance is
<br /> ar wi11 be lo�ated, stared or released an or in the Praperty. This resCriction daes not apply to small
<br /> quantities af Hazardous Substances that are generally recagnized ta be appropriate for the normal use
<br /> and main�enance of the Praperty.
<br /> B. Except as pre�rious�y disclased and acknow�edged in writing to Benefi�iary, Trustor and e�ery tenant
<br /> ha�e been, are, and sha11 remain in full comp�ian�e with any applicable En�ironmental Law.
<br /> G.Trustor shall �mmediate�y natify Benefi�iary if a reiease or threatened release vf a Hazardous Substance
<br /> occurs an, under or abou�the Property nr there is a�io�atian af any En�ironmental Lavv concerning the
<br /> Proper�y. In such an e�ent, Trustor shall tak� all necessary remed�al actian in ac�ordance with any
<br /> En�ironmental Law.
<br /> D.Trustar shall �mmediat��y nvtify Beneficiary in writing as soan as Trustor has reason to b�lie�e there is
<br /> any pending ar threatened in�estigation, claim, or proce�ding relating to the releas� or thr�atened
<br /> release af any Hazardous Substanc�or the�iolatian af any En�iranmental Law.
<br /> 12. ESCRQW F�R TA�ES AND INSURAN�E. Un�ess atherwise pro�id�d in a separate agreement, Trustor
<br /> will nat�e required to pay ta Benef��iary funds for tax�s and insurance in escraw.
<br /> 13. JaINT AND INDIVIDUAL LIABILITY; C�-SIGNERS; SU��E55URS AND ASSIGNS B�UND. All
<br /> duties under this Security Instrument are �oin� and 117C�1V1C�U��.. If Trustor signs this Security Instrument but
<br /> daes nvt sign an e�idence of debt, Trustar do�s so only �o mortgage Trustar'� interest in the Praper�y to
<br /> secure payment of t�e Se�ured Debt and Trustar daes not agree to be persanally liable on the Secured Deb�. Yf
<br /> this 5ecurity Instrument secures a guaranty between Beneficiary and Trustor, Trustor agr��s to waive any
<br /> rights that may pre�ent B�neficiary from bringing any ac�ion or claim against Trustar or any party indebted
<br /> under the obligati�n. These rights may include, but are nat limited to, any an�i-d�fi�ien�y or on�-a�tifln laws.
<br /> The duties and benefits of this Security InStrument sha��bind and b�nefit the success�rs and assigns�f Trustor
<br /> and Beneficiary.
<br /> 14. SEVERABILITY; INTERPRETATIUN. This Security Instrument is cvmplete and fuliy integrated. This
<br /> Security Instrument may nat be amended vr modified by oral agreement. Any s��ti�n in this S�curity
<br /> �ns�rum.ent, a�tachmen�s, or any agreemen� related ta the Secured Debt that confl��ts with appli�ab�e law will
<br /> not be effecti�e, unless tha� law expressly ar impliediy permits the �ariatians by written agreement. Yf any
<br /> sec�ion of this Security Ins�rument cannot be enfarced according to its terms, that section wi�� be se�ered and
<br /> wili nat affect the enforceability of the remainder af�his 5ecurity InStrument. Whene�er used, the singular
<br /> shall include the plural and �he plural the singular. The �aptions and headings of the sect�ons of this Security
<br /> Ynstrument are far can�eni�nce only and are nQt to be used tv interpr�t ar define the terms of this 5ecurity
<br /> Instrument. Time is of the�ssence in this Security �nstrument.
<br /> 1S. SUCCESS�R TRUSTEE. B�neficiary, at Beneficiary's op�ian, may from time to time remo�e Trustee and
<br /> appaint a successor trustee without any other fnrmal ity than the designativn in writing. The successor trustee,
<br /> withflut con�eyance of the Property, shall succeed ta a11 the title, power and duties conferred upon Truste�by
<br /> this 5e�urity Instrument and applicabl�law.
<br /> 16. N�TICE. Unless atherwise required by law, any natic� shali be gi�en by deli�ering it �r by mailing it by
<br /> first class mai� tv the appropria�e party's address on page 1 of this Security Instrument, or to any other
<br /> address designated in writing. Notice to one trustflr will be deemed to be notice to a11 trustors. Tru�tor and
<br /> Beneficiary h�r��y request a copy of any notice of defaul�, and a capy of any notice of 5ale thereunder, be
<br /> mailed tn�ach party at the address for such party set forth�n page 1 of this Security �nstrument.
<br /> 17. WAIVERS. Except to the exten� prohibited �y 1aw, Trus�ar wai�es a11 appraisem�nt and hvmestead
<br /> exemption rights re�ating�o the Pr�perty.
<br /> 18. LII�E UF CREDIT. The Secured Debt inc�udes a re�ol�ing line of credit. Although the Secur�d Debt may
<br /> be reduced to a zera�a�ance, this Security Instrument wi�1 remain in effec�until released.
<br /> 5ecurity Instrument-�p�n-�nd-Consumer-N� ❑CP-REUT-N� 71212D1 1
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<br /> Watters KRuwer�ir�anciaf Ser�ices C��994,�41 1 Page 5 af fi
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