|
2� 1 ��37�8
<br /> 11. ENVIR�NMENTAL LAWS AND HAZARD�US SUBSTANCES. As used in this section,
<br /> �1} En�ironmenta� Law means, without lirnitation, the �omprehensive En�ironmental Response,
<br /> Compensation and Liabil�ty Act (�ERCLA, 4Z [�.5.�. 96�1 �� seq.}, and all o�her federa�, state and local
<br /> 1aws, regu�ations, ordinances, court orders, attorney genera.l opinions or interpreti�e letters concerning the
<br /> public heal�h, safety, welfare, en�ironment or a hazardous substance; and(2} Hazardous Substance means any
<br /> toxic, radioacti�e or hazardous material, was�e, p�llutant or contaminant which has �har�Ct�ristics which
<br /> render the substance dangerous or pvtentially dangeraus ta the pu�li�h�alth, safety, w�lfar�or�n�ironment.
<br /> The term includes, without limitation, any substances defined as "hazardous material," "toxic substances,"
<br /> "hazardaus waste" or "hazardous substance" under any Enviranmental Law.
<br /> Trustor represents, warrants and agrees that:
<br /> A.Ex�ept as pre�iously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is
<br /> or will be located, stored or rel�ased on or in the Property. This restriction does not apply t� sma11
<br /> quantities of Hazardous Substances that are g�nerally recognized t� be appropriate for the narmal use
<br /> and maintenance of the Property.
<br /> B. Except as pre�iously disclosed and acknowledged in writing to Beneficiary, Trustar and every tenant
<br /> ha�e been, are, and sha11 remain in full compliance with any applicable Environmenta� Law.
<br /> C.Trustor shall imrnediately notify Beneficiary if a release vr threatened releas�of a Hazardous Substance
<br /> occurs on, under or about the Property or there is a�iola�ivn of any En�ironmental Law concern�ng the
<br /> Property. �n such an e�ent, Trustar shali take ai� necessary r�medial action in accordan�� with any
<br /> En�ironmentai Law.
<br /> D.Trustor sha11 immediately notify Bene�ciary in writ�ng as soon as Trustor has reason to belie�e there is
<br /> any pending or threatened in�estigation, claim, or proceeding relating to the release or threatened
<br /> release of any Hazardaus Substance or the�iolation of any Environmental Law.
<br /> 12. ESCR�W FC]It TAXES AND INSURAN�E. Unless otherwise pro�ided in a separa�e agreement, Trustar
<br /> wi11 not be required to pay t�Benefi�iary funds for taxes and insurance in escrow.
<br /> 13. J�INT AND INDIVIDUAL LIABILITY; ��-SIGNERS; SUC�ESS�RS AND ASSIGNS B�UND, A11
<br /> duties under this Security Ins�rument are j oint and �ndi�idual. If Trustor signs this Security Instrument but
<br /> does not sign an e�idence nf debt, Trus�or does so only to mortgage Trust�r's in�erest in the Property to
<br /> secure payment af the Secured Debt and Trustor daes not agree tv be personally liable on the 5ecured De�t. If
<br /> this Security �nstrurnent secures a guaranty between Beneficiary and Trustor, Trustar agrees to wai�e any
<br /> rights that may pre�ent Beneficiary fram bringing any actian or�c�aim against Trustor ar any party indebted
<br /> under the obligation. These righ�s may include, but are not lirn�ted to, any anti-deficiency or one-acti�n Iaws.
<br /> The duties and benefits of this Security Instrument shall b�nd and benefit th�successors and assigns of Trustor
<br /> and Benefic�ary.
<br /> 14. SEVERABILITY; INTERPRETATI�N. This Security Instrument is complete and fully integrat�d. This
<br /> Security Instrument may not be amended or modified by oral agreement. Any section in this Security
<br /> instrument, attachments, ar any agreement related to th� Secured Debt that conflicts with applicable law will
<br /> not be effecti��, unless that �aw �xpress�y or impliedly p�rmits the �ariations by written agreement. If any
<br /> section of this Security Instrument cannot be enforced acc�rding to its terms, that sectian will be s��ered and
<br /> will not affect the enforceability of the remainder of this Security Instrum�nt. Whene�er used, the singular
<br /> shall include the plural and the plural the singular. Th�captions and headings of the s�ctions of this Security
<br /> Instrument are for con�enience anly and are no� ta be used to interpret or define �he t�rms af this Security
<br /> Instrument. Time is of the essence in�his Security Instrument.
<br /> 15. SU�CESS�R TRUSTEE. Beneficiary, at Beneficiary's option, may from time to tim� remo�e Trustee and
<br /> appoint a success�r trustee without any other formality than the de�ignation in writing. Th�successor trustee,
<br /> withaut conveyance af the Property, sha11 succeed to all the title, power and duties conferred upon Trustee�y
<br /> this Security�nstrument and appl�cable 1aw.
<br /> 15. N�TI�E. Unless otherwise r�quired by �aw, any notice sha�l be gi��n by deli�ering i� ar by mailing it by
<br /> first class mail to the appropriate par�.y's address on page 1 vf this 5ecurity Instrument, �r to any other
<br /> address designated in writing. Notice to one trustor will be deemed to be notic� to a1I trustars. Trustor and
<br /> Beneficiary hereby request a copy of any notice of d�fault, and a copy of any notice of sale thereunder, be
<br /> mailed t�ea�h par�y at the address for such party set forth on pag� � af this 5ecurity�nstrument.
<br /> 17. WAIVERS. Except to the extent proh���ted by 1aw, Trustar wai�es a1� appraisement and homestead
<br /> exemption rights reiating to the Property.
<br /> 1S. LIlVE �F CREDIT. The Secured De�t inc�udes a r��ol�ing line of cr�dit. Alth�ugh the Secured Deht may
<br /> be reduced to a zero balance, this Security Ins�rumen�wi11 remain in effect until r��eased.
<br /> 5ecurity Instrument-�pen-End-Cansumer-NE pCP-REDT-NE 712124i 7
<br /> VMPD Ban�cers SystemsT"" VMP-C4fi5(NE} �1 1 Q7f.nQ
<br /> Woiters Kluwer Finan�iai Ser�ices C�31994,2Q1 1 Page 5 of 6
<br /> �� _�'
<br /> � �—
<br /> _�
<br />
|