|
2� 1 ��3987
<br /> 11. ENVIRflNIV�NTAL LAWS AND HAZARD�US SUBSTANCES. As used xn this sect�on,
<br /> ��} Environmental Law means, wxthaut limitati�n, the Compreh�nsive En��rflnmentai Respflnse,
<br /> Compensation and Liability Act ��ER�LA, 4� CT.S.C. 9��1 et seq.�, and a11 other f�dera�, sta�e and l�cal
<br /> 1aWs, regulatians, ardinances, court orders, attorney genera� opinions ar interpr�tx�e letters cancern�ng the
<br /> publxc heai�h, safety, weifare, envxronment or a hazardous substance; and �2} Hazardaus Substance means any
<br /> taxic, rad�oactive or hazardous mat�rxal, waste, pollutant or contaminant which has characteristics whi�h
<br /> render the substance dangerous or potentially dangero�us to the pub�ic heaith, saf�ty, welfa.re or enviranment.
<br /> Th� term includes, wi�hout limrtation, any substanc�s defYn�d as "hazardous material," "tax�c substanc�s,"
<br /> '"hazardous waste" or "hazardous subs�ance" under any Envzronm�ntal Law.
<br /> Trustor represents, v�arrants and agrees that:
<br /> A.Excep� as previous�y disclosed and ackn�wledged in wri�ing to Beneficiary, nfl Hazardous Substance Ys
<br /> or wz11 be located, stored or released on or �n the Praperty. ThYs res�r�ction does nat apply to smal.l
<br /> quan�Yties of Hazardous Substances that ar� generally recognrzed ta be apprapr�ate for the normal us�
<br /> and maintenance of the Praperty.
<br /> B. E�cept as pr�vious�y disclosed and acknowledged xn writing to BenefYc�ary, Trust�r and every tenant
<br /> have been, are, and shal.l remain in fu�� compliance w�th any applicable Env�ranmental Law.
<br /> C.Trustor shaii imm�drateXy notify Seneficiary if a release or�hreatened releas� of a Ha.zardous Su�stance
<br /> occurs on, under or about the Property or there is a violatxon of any Environmen�al Law concerning the
<br /> Property. �n such an e�en�, Trus�or sha.Il tak� ail n�cessary rem�dial actian in accardance wi�h any
<br /> En��r�nmental Law.
<br /> D.Trustor sha�� imm�d�ate�y notify Benef�cia.r� in v�riting as soon as Trustor has reason to belie�e there is
<br /> any pending �r threat�ned xnvestigation, c�aim, or praceeding relating ta the release or threatened
<br /> release af any Hazard�us Substance or the vialatian of any En�ironmental Law.
<br /> 12. ES�R�W FC]R TA�ES ANI3 INSIJRANCE. Un1�ss atherwise providec� i.n. a separate agreement, Trustor
<br /> will no�be required to pay to Ben�ficxary funds for taxes and insurance in escrow.
<br /> 13. J�INT AND INDIVII]UAL LIAEILITY; ��-SIGNERS; SUCCESS�RS AND .�i,SSIGNS S�UND. AII
<br /> duties und�r this Securi�y Instrument are j aint and individual. If Trustor signs this Se�ur��y Znstrument but
<br /> does no� sign an evid�nce of debt, Trus�pr d�es so only to mortgage Trustor's interest in �he Property to
<br /> secure payment of the Secured I]ebt and Trus�or does nflt agree to be personally lxable on the Secured]�ebt. If
<br /> �h�s Security Instrument se�ures a guaranty b�tween B�nefxcxary and Trustflr, Trustor agrees ta wai�e any
<br /> rights that may prevent Beneficiary from bringing any actron or claim against Trustor or any party xndebted
<br /> under the obligatian. These rights ma� include, but are n�t l�mYt�d to, any anti�defic��ncy ar onewactian laws.
<br /> The dutxes and bene�ts flf this Security 7nstrument sha11 bind and��ne�t the successors and assigns of Trustar
<br /> and Beneficzar�.
<br /> 14. SEVERASILITY; INTERPRETATIaN. Th�s Security Instrument �s complete and fully �ntegra�ed. Th�s
<br /> Se�urity rnstrument may not be amended ar modified by oral agreement. Any sectian in this Security
<br /> Instrument, at�achments, or any agreement related to �he Secured Debt that conf�icts with appl��ab�e law will
<br /> nat be effecti�e, unless �hat Iav� expressly or impliedly permits �he variatians �y writ�en agreemen�. Yf any
<br /> sectian of this Security Znstrument cannot b�enfarced according to its terms, that section vviii be s��ered and
<br /> wilX nat aff��t th� enforceability of the rema�nder af this Security Instrument. When���r us�d, the singular
<br /> sha.�� include the plural and the plural the singular. The cap�i�ns and heading� of the se�tions of this Securi�y
<br /> Instrument are for con��nience anly and are nat ta be used to xnterpret or define the tez-�xxs af this Secur�ty
<br /> �nstrument. Time is of the ess�nce xn this Security�nstrument.
<br /> 15. SU�CESS�R TRUSTEE. Beneficiary, at Benefxciary's option, may from time ta ��xn� remo�e Trust�e and
<br /> appoint a success�r trustee wxthout any ather formali�y than the designation in vt�ri�ing. The suc�essar trustee,
<br /> wxthout canveyance of the Proper�y, shall succeed ta a11 th�title, pow�r and duties conferred upan Trustee by
<br /> this SecurYty Instrument and applxcable law.
<br /> 16. NQTICE. Unless otherwis� requ�red by law, any notice shall be given by delivering i� or �y ma�ling it by
<br /> first class ma�l to the apprapriate party's address on page 1 of this Security �nstrumen�, or to any other
<br /> address des�gnated in v�ritYng. Not�ce to one trustor vv�ll be deemed to b� notice ta a.�� �r�stors. Trustor and
<br /> Beneficiary hereby request a capy of any nat�ce af default, and a copy of any natice af sale �hereund�r, b�
<br /> mailed ta each party at the address for such party s�t forth an page 1 af this SeGur�l.y Znstrumen�.
<br /> 17. W.A.IV�RS. Except to the ex�ent prahibited by law, Trust�r wai��s a�.l appraisement and homestead
<br /> exempt�on rights reiating to the Property.
<br /> 1S, LINE QF CREDIT. The Secured Debt includes a revoX�ing line ❑f credit. Although the Secur�d Debt may
<br /> be reduced�o a z�ra balance, this 5ecuri�y �nstrument v�ill r�main in effect until released.
<br /> 5ecurity l�strcament-�pen-End-Cvnsumer-NE DCP-REQT-NE 71212�11
<br /> VMP�gankers 5ystemsT"' VMP-G4fi5tN�y ��1077.��
<br /> Wolters Kluw�r Finan�ial 5er�ices C�]1994,2��� Page 5 vf 6
<br />
|