|
2� 17� 1723
<br /> If there is a default, Trustee shal�, rn addx�ion t� any ather permitted remedy, at the re�uest of the
<br /> Beneficiary, adver�ise and sell the Property as a wh��e or in separa��parcels at public au�tian to the highest
<br /> bidder for cash and convey absolute title free and �lear af aII right, titXe and in�erest af Trustor a� such txme
<br /> and plac� as Tru�tee d�signates. Trustee sha11 give notice af sal� inc�uding the tim�, terms and piace of sal�
<br /> and a des�riptian of the prapert� �o be sold as requ�red by the ap��icab�e �aw in effect at the time af the
<br /> proposed sale.
<br /> I�'pon sale of the Proper�y and to the extent na� prahibited by 1aw, Trustee shaJ.l make and deli�er a deed to
<br /> the Property soXd which conveys absolute tit�e to the purchaser, and after fYrst pay�ng al� fees, charges and
<br /> cos�s, shall pay to B�neficiary aX1 moneys advanced for r�pairs, �axes, insurance, liens, assessments and prxor
<br /> encum�ran�es and in�erest thereon, and the pr�ncipa� and interest �n the Secured 7]ebt, paying the surplus, if
<br /> any, to Trustor. Beneficiary may purchase th� Proper�y. The reci�a.Is in any deed of con�eyance shaXl be
<br /> prima fa�i�ev�dence of the fac�s set forth therein.
<br /> A11 remedies are distinc�, cumuXative and not exclusi�e, and the Beneficiary xs entitied to all remedies
<br /> prov�ded at law or equity, wh�th�r or not �xpress�y set forth. The ac�eptan�� by Benefic�ary of any sum �n
<br /> payment or par�ial payment an the Secured Debt aft�r�he balance is due or is accelerat�d or after fare�Iosure
<br /> proceedings are �l�d shal� not const�tute a wai��r of Benefi�iary'� right to require comp�ete cure of any
<br /> �xisting default. By not exercising any remedy on Trustar's defauxt, Benefi��ary daes not waive Seneficiary's
<br /> right ta Iater cansxder the e�ent a default if it continues or happens again.
<br /> 16. E�PENSES; ADVANCES �N C�VENANTS; ATT�RNEYS' FEES; CaLLE�TI�N �[]STS. Except
<br /> v�rh�n proh�bxted by law, Trustor agre�s ta pay alI of Beneficza.ry's �xpenses if Trustor breaches any caWenant
<br /> in this S�curity Instrument. Trustor wi11 a�so pay an demand ar�y amount incurred by Beneficiary for
<br /> insuring, �nspecting, preser�zng ar atherwise pratecting the Proper�y and Beneficiary's secur�ty interest.
<br /> These expenses will h�ar interest from the date of the paym�nt unt�l paYd xn full at the highest interest ra�e in
<br /> effect as provided in the terms of the Secured D�bt. Trustor agrees to pay all costs and �xpenses incurred by
<br /> Beneficiary in collecting, enforcing or pro�ec�ing Beneficiary's rights and remedzes under this Security
<br /> Instrument. This amaunt may xnclude, but is no� limi�ed ta, attorneys' fees, caurt costs, and other �egal
<br /> expenses. ThYs Security Instrumen� shaXl remain rn effe�� until r��eased. Trustar agrees ta pay for any
<br /> recordation costs af such relea�e.
<br /> 17. ENVIR�NMENTAL LAWS ANI� HAZARD�US SUSSTAN�ES. As used in th�s s�ction, �1}
<br /> Environmental Law m.eans, wi�hout limitation, the �omprehensive Environm�ntal Response, �ampensation
<br /> and Lrab�l�ty Ac� �CERCLA, 4� U.S.C. 96�I et seq.�, and a�l other federal, stat� and Iocai Iaws, regulations,
<br /> ord�nanc�s, cour�orders, att�rney general opinions ar interpre�ive Xe�ters conGerning the pub�ic heal�h, safety,
<br /> welfare, envir�nment or a hazardaus substance; and ��} Hazardous Substance means any toxxc, radzoact�ve or
<br /> hazardous material, waste, pollutant vr cvntamYnan� whxch has characteristics wh�ch render the substance
<br /> dangeraus or pflt�nt�ally dangeraus to the public health, safety, welfare or enviranment. The �erm includes,
<br /> without �imitation, any su�stances def�ned as "hazardous materxa.�," "�oxic subs�ances," "hazardaus waste" or
<br /> "hazard�us su�stance" under any Environmental Law.
<br /> Trustar represents, warran�s and agr�es�iat:
<br /> A.Except as pre�iausly dis�lased and acknowledged �n writing t� BenefYciary, no Hazardous Substance is
<br /> or w�ll be Iacated, stor�d or released nn ar in the Praperty. This res�riction does not apply to small
<br /> quan�i�ies of Hazard�us 5ubstan�es that are generally recogni�ed to be appr�priat� for the normal use
<br /> and maintenance of the Property.
<br /> B. Except as previously disclosed and acknowl�dg�d in wr�ting to Beneficiary, Trustor and every t�nant
<br /> have been, are, and shall rema�n in full campliance with any app�icable Environmental Law.
<br /> �.Trus�or shal.l immediately notify Beneficiary if a release ar thr�aten�d r�lease of a Hazardaus Substance
<br /> occurs on, under or abou�the Property ar there is a�iolatian of any Environmental Law cancerning th�
<br /> Property. In such an even�, T�-ustor shali take a11 ne��ssary remedial action xn accordance with any
<br /> Environm�ntal Law.
<br /> D.Trustar sha11 immediateiy natify Beneficiary �n wrYtrng as saon as Trustor has r�asan to believe there is
<br /> any pend�ng or thr�a�ened in�es�igation, claim, ar pro���di�g relating tfl the release ar threatened
<br /> release of any Hazardaus �ubstanc�flr the violation af any En��ronmental Law.
<br /> 18. C�NI3EMNATI�N. Trustar will g�ve Beneficiary prompt notice �f any pending or threat�ned action, by
<br /> pr�vat� or public �ntities to pur�hase or take any ar aIi of the Property through condemnatian, eminent
<br /> domain, or any other means. Trustor autharizes Beneficia.r� to �n�ervene in Trustor's name in any of the
<br /> above described actions ar claims. Trustar assigns ta B�n�ficiary the proceeds of any award ar claim far
<br /> damages connected vvith a cand�mnation nr ather taking of all or any part of the Prop�rty. Su�h praceeds
<br /> sha11 be cnnsidered paym�nts and wr11 be app�ied as provided in this Secur��y �nstrument. This assxgnm�nt af
<br /> proceeds is subj ect ta the �exTns of any prxar mortgage, deed of trust, ��curity agreemen� ar ❑ther Iien
<br /> do cument.
<br /> Security ir�strument-C�nsr�mer-NE R�-DT-NE 21�Iz�13
<br /> VMPC�Bankers SystemsT"^ VMP-C�fiS�N�f (�3027.D0
<br /> Walters Kluwer Financial 5er�ices��994,201 1 Page 4��fi
<br />
|