|
2� 1 ��7851
<br /> 11. ENVIR�NMENTAL LAWS AND HAZARD�US SUBSTANC�S. As used xn this se�t�an,
<br /> �1} En�ironmental Law means, wYthout limitatian, �he �omprehens��e Environmental Respons�,
<br /> Comp�nsation and Liab��ity A�t �CERCLA, 42 U.S.�. 95��. et seq.}, and al� other federal, state and 1o�a1
<br /> laws, r�gulations, ordinances, �ourt ord�rs, a�orney genera� opzxuons or interpretive Ietters cancerning the
<br /> public health, safery, welfare, env�ronment or a hazardaus subs�an�e; and��} Hazardou� Suhstanc�means any
<br /> toxic, rad�oacti�e or hazardaus materYal, waste, pollutant or contaminant whxch has charact�rzst��s which
<br /> render the subs�ance dangerous or potent�ally dangerous �o the publ�c health, safety, v�re�fare or en�ironment.
<br /> The term �ncludes, wrthou� limitation, any subs�ances c�efin�d as "hazardous ma�erial," "tox�c substanc�s,"
<br /> "hazardous waste" ar "hazardous su�stance" under any Enviranm�ntal Law.
<br /> Trustor r�presen�s, warrants anci agrees�hat:
<br /> A.Ex��pt as pre�iously dxsc�osed and acknow�edged in wnting �o Beneficiary, no Hazardous Substance is
<br /> or w�ll be �ocated, stored ar re�eased on or �n the Proper�y. Th�s restriction does not app�y to sma�I
<br /> quanti��es of Hazardaus Substances that ar� genera.11y recognxzed �o be appropriate far �he normal us�
<br /> and ma�ntenance of�he Properry.
<br /> B. Except as previaus�y disc�osed and acknowledged rn wrzting to �enef�c�ary, Trustar and e�ery tenant
<br /> hav�been, are, anc�sha.��rema�in in fu�� compliance wxth any applicab�e Environmental Law.
<br /> �.Trustor shaX� immedia�ely no�ify Beneficiary if a release or�hreatened r�I�ase of a Hazardaus Substanc�
<br /> occurs on, under or about the Praperty ar ther� �s a violation of any Environmen�a�. Law concern�ng the
<br /> Property. In such an e�ent, Trustor sha�i take a11 necessary rem�dial action in accordance with any
<br /> En�ironmental Law.
<br /> D.Trustar shall immediately notify Ben�f�ciary in�wr��zng as sflan as Trustor has reason to belx�ve�here is
<br /> any pending or threatened in��stigation, claim, or praceeding relating ta the rexease or threatened
<br /> rexease of any Hazardous Substance or the violation of any Environmenta.� Law.
<br /> 12, ES�RQW F�R TA�ES AND INSURANCE. Unle�s otherw�se provided in a separate agreement, Trustar
<br /> wx��not be required ta pay to Beneficiary funds far taxes and xnsurance in escrow.
<br /> 13. J�INT AND INDIVIDUAL LIABILITY; C��SIGNERS; SU���SS�RS AND ASSI�NS B�UND. A11
<br /> dut�es under this Securxty In.strumen� are jaint and individual.. �f Tr�xs�or sxgns this Security Instrument but
<br /> daes not s�gn an evid�nce of debt, Trustflr does so only to mar��age Trustor's interest in the Property to
<br /> secure payment of the Secur�d Debt and Trustor does not agree to be pers�nally liab�e on the Secured Debt. If
<br /> thxs 5ecurity �nstrument secures a guaranty bet�een Benef�ciary and Trustor, Trustor agrees t� wai�e any
<br /> rights that may pre�ent Beneficia.ry from bringing any actxon ar claim aga�nst Trustor or any pa.rty indebted
<br /> under the ob�igation. These rights may include, but are not Zimi�ed to, any an�z-de�ciency ar ane-action Iaws.
<br /> The du�ies and ben�fYts of th�s 5ecurity Ynstrumen�sha1l bind and benefit the successors and assigns af Trustor
<br /> and Bene�cxary.
<br /> 14. SEVERA►.BILITY; INTERPRETATI�N. This Se�urity Ins�rument is comp�ete and fully xntegrated. This
<br /> Security Ins�rument may no� be amended or mo�zfied �y orai agreement. Any sec�ion xn this S�Curity
<br /> Znstrument, attachmen�s, or any agreement related�o the Secured Debt that conflicts w�th applicable law will
<br /> not b� effecti��, unless that Iaw expr�ssly ar impliedly permits the variations by written agreement. If any
<br /> section af�h�s Se�ur�ty Instrument cannot be enfarced according to x�s �erms, that sect�on wi11 be s�vered and
<br /> will not affect the enfarceability of�he remainder �f this Security Instrument. Whenever used, the s�ngular
<br /> sha�� include th�plural and the plural the s�ngular. Th�captians and headings of the sections of this Security
<br /> Instrum�n� are for convenience anly and are not ta be used to interpr�t or define the terms af this Secur�ty
<br /> �ns�rument. Time is of the essence�n this 5ecurity�nstrument. .
<br /> 15. SUCCESSQR TRUSTEE. $eneficiary, a� Benef�ciary's option, may from time to �ime remfl�e Trus�ee and
<br /> appoxnt a successor trustee withou� an�ather formal�ty than the des�gna�ion in vvritxng. The successor trustee,
<br /> withflut�on�eyance of the Proper�y, sha.�i succeed to al� �he title, pawer and duties canferred upon Trus�ee�y
<br /> this Secur�ty Instrument and applicable�aw.
<br /> 1�. NC�TICE. Unless otherwise required by �av�, any not�ce shall be given by delivering it or by mailing it by
<br /> �rst c�ass mail to the appropriate parry's address on page 1 of this 5ecur�ty Ynstrument, or to any ather
<br /> address designated in writing. NotYc� to ane trustor wiil be deemed to be notice to aZ.� trustors. Trustor and
<br /> Beneficiary hereby reques� a capy af any notice of default, and a �opy of any natice of sale thereunder, b�
<br /> mailed to each party at the address for such party s�t forth an page 1 of th�s Security �nstrumen�.
<br /> 17. WAIVERS. Except to the exten� proh�bited by �aw, Trustar waives a1� appra�sement and h�mes�ead
<br /> exemp�ion rights re�ating to the Proper�y.
<br /> 1S. LINE �F CREDIT. The Secured I3ebt �nc�udes a revolving Iin� af credit. Although the Secured D�Ut may
<br /> l�e reduced to a zerfl balan�e, this Security Instrument will remain in�ffect unt�l releas�d.
<br /> Security Instrument-nper�-End-C�nsumer-NE aCP-REDT-NE 71212q'1'1
<br /> VMPD Bankers 5ystems�M VMP-C465(NE� {�107f.fl�
<br /> Wolters Kiuwer Financial 5er�ices C�]�994,2Q'1� Page 5❑f 6
<br />
|