|
20210033q
<br />At the option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and
<br />principal shall become immediately due and payable, after giving notice if required by law, upon the
<br />occurrence of a default or anytime thereafter. In addition, Beneficiary shall be entitled to all the remedies
<br />provided by law, the Evidence of Debt, other evidences of debt, this Deed of Trust and any related
<br />documents including without limitation, the power to sell the Property.
<br />If there is a default, Trustee shall, in addition to any other permitted remedy, at the request of the
<br />Beneficiary, advertise and sell the Property as a whole or in separate parcels at public auction to the
<br />highest bidder for cash and convey absolute title free and clear of all right, title and interest of Trustor at
<br />such time and place as Trustee designates. Trustee shall give notice of sale including the time, terms
<br />and place of sale and a description of the property to be sold as required by the applicable law in effect
<br />at the time of the proposed sale.
<br />Upon sale of the Property and to the extent not prohibited by law, Trustee shall make and deliver a deed
<br />to the Property sold which conveys absolute title to the purchaser, and after first paying all fees,
<br />charges and costs, shall pay to Beneficiary all moneys advanced for repairs, taxes, insurance, liens,
<br />assessments and prior encumbrances and interest thereon, and the principal and interest on the Secured
<br />Debt, paying the surplus, if any, to Trustor. Beneficiary may purchase the Property. The recitals in any
<br />deed of conveyance shall be prima facie evidence of the facts set forth therein.
<br />All remedies are distinct, cumulative and not exclusive, and the Beneficiary is entitled to all remedies
<br />provided at law or equity, whether expressly set forth or not. The acceptance by Beneficiary of any sum
<br />in payment or partial payment on the Secured Debt after the balance is due or is accelerated or after
<br />foreclosure proceedings are filed shall not constitute a waiver of Beneficiary's right to require full and
<br />complete cure of any existing default. By not exercising any remedy on Trustor's default, Beneficiary
<br />does not waive Beneficiary's right to later consider the event a default if it continues or happens again.
<br />19. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when
<br />prohibited by law, Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches any covenant
<br />in this Deed of Trust. Trustor will also pay on demand all of Beneficiary's expenses incurred in
<br />collecting, insuring, preserving or protecting the Property or in any inventories, audits, inspections or
<br />other examination by Beneficiary in respect to the Property. Trustor agrees to pay all costs and
<br />expenses incurred by Beneficiary in enforcing or protecting Beneficiary's rights and remedies under this
<br />Deed of Trust, including, but not limited to, attorneys' fees, court costs, and other legal expenses. Once
<br />the Secured Debt is fully and finally paid, Beneficiary agrees to release this Deed of Trust and Trustor
<br />agrees to pay for any recordation costs. All such amounts are due on demand and will bear interest from
<br />the time of the advance at the highest rate in effect, from time to time, as provided in the Evidence of
<br />Debt and as permitted by law.
<br />20. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) "Environmental
<br />Law" means, without limitation, the Comprehensive Environmental Response, Compensation and
<br />Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), all other federal, state and local laws, regulations,
<br />ordinances, court orders, attorney general opinions or interpretive letters concerning the public health,
<br />safety, welfare, environment or a hazardous substance; and (2) "Hazardous Substance" means any
<br />toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristics
<br />which render the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br />environment. The term includes, without limitation, any substances defined as "hazardous material,"
<br />"toxic substances," "hazardous waste" or "hazardous substance" under any Environmental Law. Trustor
<br />represents, warrants and agrees that, except as previously disclosed and acknowledged in writing:
<br />A. No Hazardous Substance has been, is, or will be located, transported, manufactured, treated,
<br />refined, or handled by any person on, under or about the Property, except in the ordinary course
<br />of business and in strict compliance with all applicable Environmental Law.
<br />Agricultural/Commercial Real Estate Security Instrument -NE
<br />Bankers Systems TM VMP®
<br />Wolters Kluwer Financial Services © 1993, 2011
<br />VMPC595(NE) (1701)•00
<br />AGCO-RESI-NE 1/1/2017
<br />Page 7 of 13
<br />
|