|
2� 1 ���891
<br /> 11. ENVIRaNMENTAL LAWS AND I3AZAR�[]US SUSSTANCES. As - used in this section,
<br /> �1} En��ronmen�al Law means, without limuta�ion, �he �omprehensive Environmental Respans�,
<br /> Compensa�ion and LiabilYty Act �CER�LA, 42 U.S.C. 96�1 �� seq.}, and aIi o�her federal, state and loca.l
<br /> 1aws, regulations, ord�nances, court orders, a�t�rn�y general opinions or in�erpretive Ietters �flncern�ng the
<br /> pu�Iic hea�th, safety, welfare, environment or a hazardous substance; and��} Hazardaus Substanc�means any
<br /> toxic, radioactrve �r hazardous mater�a.I, wast�, po�lutant or contaminan� �which has chara�teristics which
<br /> render the substanc� dangerous or patentxal�y dangeraus to the public hea��h, safety, vveifare ar enviranment.
<br /> The �erm inc�udes, vvithou� Iimxta�ion, any subs�ance� defined as "hazardous materia�," "tox�c substances,�'
<br /> "hazardous wast�`T or "hazardous substance" under any Envzronmental Law.
<br /> Trus�or represents, warrants and agrees that:
<br /> A.Except as pre�iously disc�.osed and acknowledged �n wri�ing to Bene�ciary, no Hazardous Substance �s
<br /> or will b� �ocated, s�ored or released on or in the Praperty. This restrictxon does not apply to sma11
<br /> quantities of Hazardous Substances that are generally recognized to be appropriate for the norma� use
<br /> and maintenance of the Property.
<br /> S. Ex�ept as pre�iously dis�lased and ac�owledged �n writing ta B�n�f�cxary, Trustor and every tenant
<br /> ha�e been, are, and sha11 r�main.in full compliance with any applicabl�Env�ronmental Law.
<br /> C.Trustor shal.i immediately nat�fy Bene�ciary if a release or threatened release�f a Hazarc�aus 5ubstance
<br /> flccurs on, under or a�out the Praperty or there is a viola�ion of any Env�ronmental Law concerning the
<br /> Proper�y. �n such an �v�n�, Trustar sha11 tak� a.I.i necessary remedial action in accordanc� u�ith any
<br /> En�xronmental Law.
<br /> D.Trustor shall immediat�ly nfltzfy Beneficiary in writing as saon as Trustor has reason to believe ther�is
<br /> any pending or threatened inVest�gat�fln, claim, or praceeding re�ating to th� release or threa�en�d
<br /> release af any Hazardous Subs�ance or the�iolat�an of any Enviranmental Law.
<br /> 12. ESCR�W F�It TAXES AND INSURAI�T�E. Unless otherwise provided in a separate agreement, Trustor
<br /> wil�nat�e required to pay to Beneficiary funds fflr taxes and insurance in escrow.
<br /> 13. J�INT AND INDIVIDUAL LIABILITY; C��-SIGNERS; STJCCESS�RS AND ASSIGNS S4UN1�. A11
<br /> duties under �his Secur�ty �nstrumen� are joint and ind�vidua.�. �f Trustor signs th�s Security Instrument but
<br /> does no� sign an ev�dence of d�bt, Trustar daes so only to mor�gage Trustar's interest in th� Property to
<br /> secure payment af the Secured I3ebt and Trus�or daes nflt agree to be personally Iiable on�he Secure�.I3eb�. rf
<br /> this Securxty Instrument secur�s a guaran�y between ��nefxcrary and Trustar, Trus�ar agrees to waive any
<br /> rights that may prevent Beneficiary from bringing any act�on or �laim against Trus�or or any party indebted
<br /> under the ob��ga��on. These righ�s may include, but are nat�incu�ed to, any ant�-deficiency or one-action 1aws.
<br /> � The dutYes and b�n�fxts of this Security Instrument sh�,ll b�nd and benefit the successars and assigns of Trustor
<br /> and Benefzciary.
<br /> 14. SEVERAl3ILITY; IN�I'ERPRETATI�N. This Security Instrument Ys �omp�et� and fu�Iy integrated. This
<br /> Secux�i.ty Ins�rument may not be amended or modifxed by oral agreem�nt. Any section in this Security
<br /> Instrument, attachments, or an.y agreement related ta �he 5ecured Debt that conflic�s with applicable law will
<br /> not b� effec��ve, ux�ess that law �xpr�ssly ar impliedl� permits the �arza��ons by wr�tt�n agreement. If any
<br /> sectifln af this Security Instrum�nt ca.nnot be enforced accarding to its terms, that secti�n will be severed and
<br /> will nflt affect the enforceabzlity �f the remainder of this �ecurity Ynstrument. Whenever used, the si�ngular
<br /> sha1� include the plura� and the plural �h� singular. T�e cap�ians and headings af the se��i�ns of thxs 5ecuri�y
<br /> Instrument are for conv�nience anly and are not to be used to in�erpret or define the terms �f this Security
<br /> Instrument. Time is of the ess�nce in th�s Security 7nstrument.
<br /> 15. SUCCESS�R TRUSTEE. Benef��iary, a� B�neficiary's option, may fram time to �ime r�move Trus�e� and
<br /> appoint a successor trustee withou� any ather farmalYty than�he d�signation in writing. The successor�rustee,
<br /> without canveyance of the Properry, sha11 succ��d to al�the ti�le, power and du�ies conferred upon Trus�e�by
<br /> this Security�nstrument and applicable 1aw.
<br /> 16. N�TICE. Unless otherwi�e requ�red by Iav�, any n�tice shall be gi�ren by delivering i� or by mailing it by
<br /> firs� class mail �o the appropriate party's address on page 1 of �his Securi�r �nstrument, or to any ather
<br /> address designa��d in vvriting. Notice �o one trustor wi11 b� deemed to be notice �o aII trustors. Trus�ar and
<br /> Benefi�iary hereby reques� a copy of any na�ic� of default, and a copy of any notice of sale ther�under, be
<br /> mailed to each party a��h�address for such par�y set forth an page 1 of this S�curity Ins�rum�nt.
<br /> 17. WAIVERS. E�cept �o txi� extent prohib�ted by �aw, Trustor wa�ves al� appra�sement and hom�stead
<br /> exemption rights relating tfl th�Prap�r�y.
<br /> 1S. LINE �F CREDIT. Th� Secured De�t includes a revolvin� Iine af cred��. Al�hough the S�cured Debt may
<br /> �e reduced to a zero balance, this Security Instrument wi.�l remain in effect u.ntil re�eased.
<br /> 5ecc�rity lnstrument-��en-�nd-Car�sumer-NE � ❑CP-R�I3T-N� 7121���1
<br /> VMP�Bankers SystemsT"' VMP-C455{N�y i���7�.D0
<br /> Wolters Kluwer Financia�Ser�ices��994,Z01� Pag�5 of 6
<br />
|