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<br /> 15. REMEDIES ON DEFAULT. In some instances, federal and state law will require
<br /> Lender to provide Grantor with notice of the right to cwe or other notices and may
<br /> establish time schedules for foreclosure actions. Subject to these limitations, if any,
<br /> Lender may accelerate the Secured Debt and foreclose this Security Instrument in a
<br /> manner provided by law if Grantor is in default.
<br /> At the option of Lender, a11 or any part af the agreed fees and charges, accrued
<br /> interest and principal shall become immediately due and payable, after giving notice
<br /> if required by law, upon the occurrence of a default or anytime thereafter. In
<br /> addition, Lender shall be entitled to all the remedies provided by law, the terms of the � �
<br /> Secured Debt, this Security instrument and any related documents, including without i� �
<br /> limitation, the power to sell the Property. M, �
<br /> Ifthere is a default, Trustee shall, in addition to any other permitted remedy, at the ��� g
<br /> request of the Lender, advertise and sell the Property as a whole or in separate parcels � �D
<br /> at public auction to the highest bidder for cash and convey absolute title free and clear Mp
<br /> of all right, title and interest of Grantor at such time and place as Trustee designates. C:
<br /> Trustee shall give notice of sale including the time, terms and place of sale and a
<br /> description of the property to be sold as required by the applicable law in effect at the
<br /> time of the propose sa1e.
<br /> Upon sale of the property and to the extent not prohibited by law, Trustee shatl make
<br /> and deliver a deed to the Property sold which conveys absolute title to the purchaser,
<br /> and after first paying all fees, charges and costs, shall pay to Lender all money
<br /> advanced for repairs, ta�es, insurance, liens, assessments and prior encumbrances and
<br /> interest thereon, and the principal and interest on the Secured Debt, paying the
<br /> surplus, if any, to Grantor. Lender 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 Lender is entitled to
<br /> all remedies provided at law or equity, whether or not expressly set forth. The
<br /> acceptance by Lender of any sum in payment or partial payment on the Secured Debt
<br /> after the balance id due or is accelerated or after foreclosure proceedings are filed
<br /> shall not constitute a waiver of Lender's right to require complete cure of any existing
<br /> default. By not exercisin�any remedy on Grantor's default, Lender does not waive
<br /> Lender's right to later consider the event a default if it continues or happens again.
<br /> 16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEY'S FEES;
<br /> COLLECTION COSTS. Except when prohibited by law, Grantor agrees to pay all
<br /> of Lender's expenses if Grantor breaches any covenant in this Security Instrurnent.
<br /> Crrantor will also pay on demand any amount incuned by Lender for insuring,
<br /> inspecting, preserving or otherwise protecting the Property and Lender's security
<br /> interest. These expenses will bear interest from the date of the payment until paid in
<br /> full at the highest interest rate in effect as provided in the terms of the Secured debt.
<br /> Crrantor agrees to pay all costs and expenses incurred by Lender in collection,
<br /> enforcing ar protecting Lender's rights remedies under this Security Instrument. This
<br /> amount may include, but is not limited to, attorneys' f+ees, court costs, and other legal
<br /> expenses. This Security Instrument shall remain in effect until released. Grantor
<br /> agrees to pay for any recordation costs of such release.
<br /> 17. ENVIIiONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in
<br /> this section(1)Environmental Law means, without limitation, the Comprehensive
<br /> Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C.
<br /> 9601 et seq.)and all other federal, state and local laws, re�ulations, ordinances, court
<br /> orders, attomey general opinions or interpretive letters concerning the public health,
<br /> safety, welfare, environment or a hazardous substance; and (2)Hazardous Substance
<br /> means any toxic, radioactive or haaardous material, waste, pollutant or contaminant
<br /> which has characteristics which render the substance dangerous or potentially
<br /> dangerous to the public health, safety, welfaze or environment. The terms include,
<br /> without limitation, or any substances defined as"hazardous material," "toxic
<br /> substances," "hazardous waste"or"hazardous substance"under any Environmental
<br /> Law.
<br /> Grantor represents, warra.nts and a�rees that:
<br /> A. Except as previously disclosed and acknowledged in writing to Lender, no
<br /> Hazardous Substance is or will be located, stored or released on or in the
<br /> Properiy. This restriction does not apply to small quantities of Hazardous
<br /> Substances that are generally recognized to be appropriate for the normal
<br /> use and maintenance of the Property.
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