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2� 1 ��3593
<br /> 11. ENVIR�NIV�NTAL LAWS A►ND I3AZARD�US SUBSTA►N�ES. As used in thxs se�ti�n,
<br /> �1} Environmental Law means, w��hout Iimitatian, the Comprehensi�e En��ronmental R�spanse,
<br /> �ompensa�ion and Liabxl�ty Act ��ER�LA, 4� U.S.C. 96�l. et seq.}, and all flther federal, �tate and l�ca1
<br /> Iaws, regulations, ordinances, caur� orders, at�orney general opinions or int�rpr�tive le�ers concerning the
<br /> pu�Iic health, safety, w�lfare, �nviranment or a hazardous substance; and�2} Hazardous Substance means any
<br /> taxi�, rad�aacti�e or hazardous mater�a.l, waste, pol�utant or �ontaminant wh�Gh has characteristics which
<br /> render the subs�ance dangerous or potentxally dangeraus to the publxc heal�h, safety, welfare or en�ironm�nt.
<br /> The �erm includes, without Iimitation, any substances d�fxned a� "hazardaus material," "tax�c subs�ances,"
<br /> "hazard�us waste" ar "ha2ardaus substanc�" under any En�ironmental Law.
<br /> Trustor repr�s�nts, warrants and agre�s that:
<br /> A.Except as previously d�sclosed and acknawledg�d in wri�ing ta B�nef�ciary, na Hazardous Substan�e is
<br /> or w�ll b� located, stored or released an or in th� Pro�erty. This restrxction does nat appXy to sma11
<br /> quantitie� of Hazard�us Substances �h.at are generally recogn�zed �a be approprza�e for the normal use
<br /> and maintenance�f the Proper�y. .
<br /> B. Except as previously disclased and acknawledged in writing ta BenefYciary, Trustar and ��ery tenant
<br /> have been, are, and sha�� remain in full comp�zance wYth any applx�able�nvironmenta]. Law.
<br /> C.Trustor sha11 immedia�ely no�ify Bene�ciary if a releas�or thr�at�ned re�ease of a Hazardaus Substance
<br /> oc�urs on, under or abaut the Property or there is a violation of any En�ironmental Law conc�rning th�
<br /> Proper�y. In such an ev�nt, Trustor s�.a�� take a�1 nec�ssary remedial action in accordance with any
<br /> Environm�ntal Law.
<br /> D.Trus�or sha11 immed�ate�y nat�fy Benefic�ary in writing as soon as Trustor has reason ta believe th�re�s
<br /> any pending or �hreatened �nvestigatian, c�a�m, or proceedxng relating to �he re�ease or threat�ned
<br /> release of any Hazardous Substance or the vialatxon of any Enviranmen�a.I Lav�.
<br /> 1�. ES�R��W' FC]R TA�ES AND INSURAN�E. Unless otherwise pro�ided in a separat� agreement, Trustnr
<br /> wili not be required to pay to Beneficiary funds for ta�es and�nsurance in escraw.
<br /> 13. J�INT AND INI3IVIDU.AL LIABILITY; C�-SIGNERS; SUCCESS�RS .AND ASSIGNS B�UND. A11
<br /> duti�s under th�s Secur�ty rnstrumen� are j oint and indi�idual. Zf Trustor signs thxs Se�urity Instrument but
<br /> does not sign an evidence of debt, Tru�tor does so on�y to mor�gag� Trustor's interest in the Prop�rty to
<br /> secure payment af th�Se�ured I]eb�and Trustor daes nat agree to��persanally liable an the Secured Debt. If
<br /> this S�curxty �nstrum�nt secures a guaranty between Beneficiary and Trustor, Trustar agrees ta waiv� any
<br /> rights that may prevent Beneficiary fram bringxng any ac�ion �r claxm aga�nst Trustor or any party indebted
<br /> under the obligatz�n. These rights may ix�clude, but are not�imited ta, any ant�-de�ciency flr�ne-action lavvs.
<br /> The duties and ben�f�ts of�his Securxty Instrum�nt shall bind and benefit th�su��essars and assxgns of Trustor
<br /> and Beneficiary.
<br /> 14. SEVERABILITY; INTERPRETATI(]N. Th�s Security Instrum�nt is comple�� and ful�y �n��grat�d, This
<br /> Security Instrumen� may nat �� amended ar modY��d by ora.1 agreement. Any section in �his Security
<br /> �nstrument, atta�hments, or any agreement related tfl the Secured Debt�hat conflicts wi�h app�i�able law w��i
<br /> not be effective, unless �hat 1aw expressXy or impliedly permits the variatians by written agreement. Yf any
<br /> section af this Security Instrument cannat b� enforced accQrdzng to its terms, that section v�il� b� se�ered and
<br /> will nat affect the enforceability of the remainder of this Security Ins�rument. Whenever used, the szngu�ar
<br /> sha.Il include the plural and the plural the singuiar. Th� �aptxans and headings af the sections of this SecurYty
<br /> Ins�rument are far canvenxence oxaly and ar� not to be used to in�erpret or define the �erms of this Securzty
<br /> Znstr�xment. Time is of the essence in this S�curity Instrument.
<br /> 15. �UCCESS�R TRUSTEE. Beneficiary, at Beneficiary's op�ion, may from time to t�me remo�e Trust�e and
<br /> appa�nt a suc�essor trustee withaut any other forma.�i�y than the designa�ion�n writ�ng. Th�successor trustee,
<br /> w�thout�anveyance af�he Property, sha.�I succeed to a.�� �h.��it�e, power and dutx�s conferred upon Trust�e by
<br /> �his S�curity 7nstrument and applicab�e�aw.
<br /> 1�. N�TICE. Unless otherwis� requ�red by law, any n�tice sha.I� be given by deliverxng it or by mailing it �y
<br /> first class mail �o the apprapriate part�y's addr�ss on page � of this Security �nstrumen�, or to any o�her
<br /> address des�gna�ed in wr�ting. Notxce to one trustor wi11 be deemed to be na�i�e tfl a11 trustors. Trus�or and
<br /> Benef�ciary hereby request a copy of any not�ce of defau��, and a copy of any natx�e ❑f sale thereunder, b�
<br /> mailed ta each party at the address far�uch party se�for�h on page 1 af this Security �nstrument.
<br /> 17. WAIVERS. Excep� to the extent prohibited by �aw, Trustor waives all appraisem�nt and hamestead
<br /> ex�mpt�on rxghts rela�ing ta the Property.
<br /> 1S. LINE �F �REDIT. The Secured D�b� includes a rev�l�ing line of cr�dit. Al�hough the Secured D�bt may
<br /> be reduced�o a zero balance, this S�curity Ins�rument will remain in effect until released.
<br /> Security Instrument-�pen-End-Consumer-NE OCP-R�DT-N� 712I2011
<br /> VMPD Ban€cers 5ystems� VMP-C4�5�NEy �1 107y.Q0
<br /> W�Itsrs l�fuwer Financial Ser�ices Q1994,�03'1 Page 5 af�
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