|
2� 1 ��42�5
<br /> 11. �NVIR�NIV�NTAL LAWS AND HAZARD�US SU�3STAN�ES. As used in this sectian,
<br /> �I} En�iranmental Law means, w�thout lxmita��an, the Camprehensive Environmental Response,
<br /> �ompensation and Liability Act ��ERCLA, 4Z U.S.C. 96fl 1 et seq.}, and a11 other federal, state and 1oca.1
<br /> ��WSy reguiations, �rd�nances, caur� ard�rs, at�arney genera.X opinions or in�erpretive �etters conc�rning the
<br /> public hea.�th, saf�ty, weifare, en�ironment or a hazardous substanc�; and �2} Hazardous 5ubstanc�means any
<br /> toxic, radioactz�e or hazardous material, waste, po�Iutant or contaminan� wh�ch has charac�erzstics wh�ch
<br /> render the subs�ance dangerous or potentially dangerous tQ the pu�Iic h�alth, safety, we�fare or envYronment.
<br /> The �erm includes, without limitation, any substances defined as "hazardaus material," "tox�� substances,"
<br /> "hazardous waste" ar "hazardaus substan�e" under any En�iranmental Law.
<br /> Trustor represents, vvarrants and agr�es that:
<br /> A.Except as previous�y disclosed and acknowl�dged in writing to Beneficiary, no Hazardous Substance �s
<br /> or wi11 be Iacated, stored ar r�leas�d an ar in the Properry. This restr�ctian does nat apply to small
<br /> quantit�es of Hazard�us Substan�es �hat are gen�rally recogn�zed to �e apprapria�e for the narmal use
<br /> and maxntenance of the Prop�rty.
<br /> �. Except as previously disc�osed and a�knowledged in v�riting to Beneficiary, Trustar and e��ry tenant
<br /> ha���een, are, and shal�remain�n fu11 compliance with any appli�able Environmen�a� Lav�v.
<br /> C.Trustor sha�X immediat�ly not�fy Beneficiary xf a release or threatened rel�ase of a Hazardous Substance
<br /> occurs on, under or abflut the Fraper�y or there xs a violation�f any Enviranment�. Law cancerning the
<br /> Property. Zn such an e�ent, Trustor shal.l take all necessa.ry r�m�dial actian in accardance with any
<br /> Environmenta.� Law.
<br /> D.Trustor shal� rmmediately natify Beneficiary �n wr�ting as soon as Trustor has reasan�o bel�e�e there is
<br /> any pending �r threa�ened investigat�on, ciaim, ar praceed�ng relating to the release ar �hreatened
<br /> release of any Hazardous Subs�ance or�he violatian❑f any Env�ronmental Law.
<br /> 12. ESCRQ'W F�R TA�ES AND INSiTR.AN�E. Unl�ss otherwise pro�ided in a separate agreement, Trustor
<br /> wi��not l�e required t�pay ta Benefic�ary funds far tax�s and insurance in escraw.
<br /> 13. J�IN�I' AND INDNII]UAL LIABILITY; C�--SI�NERS; SIr�CESS�RS AND ASSIGNS B�UNI]. All
<br /> duties under �his Secur�ty Zns�rumen� are j vint and individual. Zf Trustor s�gns this Security Instrument but
<br /> does not sign an ev�dence of deb�, Trustar does so only to mortgage Trustor's �nterest in the Praper�y to
<br /> secure payment af�he Secured Deb� and Trus�or does not agree to be persanally l�able on th�Secured De�at. �f
<br /> this Security Instrument secures a guaranty between Benefic�ary and Tru.stor, Trus�ar agrees �o waive any
<br /> rights tha� may pre�ent Beneficiary fr�m bringing any actian or c�a�m against Trustor or any party inde�ted
<br /> under the obligation. These righ�s may in�Iude, but are not Iimited ta, any anti--def�c�ency or one-ac�ion 1aws.
<br /> The duti�s and ben�fits af th�s Security Instrumen� shaX�bind and benefit the successors and assigns of Trustor
<br /> and Benef�c�ary.
<br /> 14. SEVERABILITY; INTERPRETATI�N, This Security �nstrument is complete and fully int�grated. This
<br /> Se�urity Instrument may not be amended or modified by oral agreemen�. Any section in this S�curity
<br /> Zns�rument, atta�hments, or any agreement related�o the 5ecured Debt that conflicts with applicabl��av� wzll
<br /> not be effec�ive, unless that 1aw �xpressly nr impliediy permits the �ariat�ons by written agreement. �f any
<br /> s�c�ion of�his Securi�y �nstrument cannot be enf�rced according ta its terms, that section will be s�ver�d and
<br /> will nat affect the enfarceabz�ity af the remaYnder of this Security �nstrument, When�ver used, the singular
<br /> shatl include�he p�urai and th�plural �he singular. The captions and headings of�he sec�ians of this S�curit�
<br /> Instrument are for convenzence vnly and are nat tfl be us�d ta �nterpret or define the terms of this Se�urity
<br /> Instrument. Time is �f the essence in this Secur�i.y �nstrument.
<br /> 15, SLT��ESS�R TRUSTEE. Benefi�iary, at Bene�cYary's aption, may fram time to time remove Trust�� and
<br /> appaznt a successor trustee without any other formality than.the designation �n wr�ting. The successar trustee,
<br /> without conveyance of th� Praperty, shall succeed ta all th�tYtle, pow�r and dutres conferred upan Trustee by
<br /> this Security Instrument and applicable law.
<br /> 16. N�TICE. L7nless atherwise required �y Iaw, any notxce sha.11 be given by delivering it or �y mailYng xt �y
<br /> first c�ass mail to th� apprapriate party's address �n pag� �, af this �ecurity Znstrument, ar to any other
<br /> address designated in wri��ng. Notx�e to ane trustor wx1X be deem��l to be notice to all trustors. Trustar and
<br /> Benefzciary her�by reques� a copy of any not�ce of default, and a capy of any notxce of sale thereunder, be
<br /> mailed to each pa.rty at the ad�ress for such party��t faz-�h an pag� 1 of th�s S�curity Ynstrument.
<br /> 17. WAIVERS. Except to the extent prohibited by 1aw, Trustor waYv�s a11 appra.zsemen� and hamestead
<br /> exemption righ�s relatxng ta�he Property.
<br /> 1S, LINE �F �REDIT. The Secured I]ebt includes a re�alv�ng 1zn� of Gred�t. Alth�ugh the Secured Debt may
<br /> b�reduced ta a zero balan�e, th�s Security Znstrument w��l remain in�ffect until released.
<br /> 5ecurity Instrumer�t-�pen-End-Consumer-NE ❑CP-REI�T-NE 7121ZD�'1
<br /> VMP4 Banlcers 5ystems� VMP-C4�54NE7 �7 1 Q7},Qp
<br /> Wolters Kluwer Financial Ser�ic�s Q�994,2D1 1 Page 5 af 6
<br />
|