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<br /> 14. DEFAULT. Trustor will be in default if any party obligated on the Secured Debt fails to make pay �" � �; � � :,.
<br /> will be in default if a breach occurs under the terms of this Security Instrument or any other doc � � '� ' '� �
<br /> purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Beneficiary ��, ��
<br /> time is insecure with respect to any person or entity obligated on the Secured Debt or that the prosp �'�►�"� , : �'
<br /> the value of the Property is impaired shall also constitute an event of default. ���,��'������ � "�
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<br /> 15. REMEDIES ON DEFAULT. In some instances federal and state law will re uire Benefici �� `
<br /> , q arY to p�� � ,
<br /> notice of the right to cure or other notices and may establish time schedules for foreclosure actio `��� � ; �,�
<br /> limitations, if any, Beneficiary may accelerate the Secured Debt and foreclose this Security Inst ��� � ��'�
<br /> provided by law if Trustor is in default.
<br /> At the option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and pr' �� e \
<br /> immediately due and payable, after givmg notice if required by law, upon the occurrence of a � : E� :
<br /> thereafter. In addition, Beneficiary shall be entitled to all the remedies provided by law, the terms of
<br /> this Securiry Instrument and any related documents, including without limitation,the power to sell the Prop �,�€� �,�€� �� £
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<br /> If there is a default, Trustee shall, in addition to any other permitted remedy, at the request of the Ben�C�`'���' €� r��;��„
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<br /> and sell the Properry as a whole or in separate parcels at public auction to the highest bidder for cash an � � ��'��pr�t � �
<br /> title free and clear of ali right, title and interest of Trustor at such time and place as Trustee designates.
<br /> notice of sale including the time, terms and place of sale and a description of the property to be sold as r�qu�E� b the
<br /> applicable law in effect at the time of the proposed sale. "����� €
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<br /> Upon sale of the property and to the extent not prohibited by law, Trustee shall make and deliver a deed� a 4 ��
<br /> sold which conveys absolute title to the purchaser, and after first paying all fees, charges and cost�y ��`� �
<br /> Beneficiary all moneys advanced for repairs, taxes, insurance, liens, assessments and prior encumbrane� `' � �` 4K�� �
<br /> thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to Trustor B�' `
<br /> purchase the Property. The recitais in any deed of conveyance shall be prima facie evidence of the facts set fort�k fi�� ;
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<br /> All remedies are distinct, cumulative and not exclusive, and the Bene�ciary is entitled to all remedies prov ,�� �
<br /> equity, whether or not expressly set forth. The acceptance by Beneficiary of any sum in payment or partial p � ' � �; ''.��
<br /> Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall no = �.
<br /> waiver of Beneficiary's right to require complete cure of any existing default. By not exercising any remedy��,��t� ; E �
<br /> default, Beneficiary does not waive Beneficiary's right to later consider the event a default if it continues or happ�� � ,�
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<br /> 16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS E " �
<br /> prohibited by law, Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches any covenant in � �
<br /> Instrument. Trustor will also pay on demand any amount incurred by Beneficiary for insuring, inspecting, p ,. q�
<br /> otherwise protecting the Property and Beneficiary's security interest. These expenses will bear interest from the � e �
<br /> payment until paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt. T �"'''� " Y
<br /> to a all costs and ex enses incurred b Beneficia in collectin enforcin or rotectin Beneficia s � �.
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<br /> remedies under this Security Instrument. This amount may include, but is not limited to, attorneys' fees, court;,, �
<br /> other legal expenses. This Security Instrument shall remain in effect until released. Trustor agrees to pa = � �,
<br /> recordation costs of such release.
<br /> 17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environme
<br /> means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CER "
<br /> U.S.C. 9601 et seq.), and all other federal, state and local laws, regulations, ordinances, court orders, attorney ��ie� '
<br /> opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substancex�� � ` �
<br /> Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant wh�� ;K�� �
<br /> characteristics which render the substance dangerous or potentially dangerous to the public health, safety, we " � ;
<br /> environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic subs ��
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<br /> hazardous waste or "hazardous substance"under an Environmental Law. � �;,� „_
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<br /> Trustor represents, warrants and agrees that: "��"� �` ''
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<br /> A.Exce t as reviousl disclosed and acknowled ed in writin to Beneficia "" �
<br /> p p y g g ry, no Hazardous Substance is or � „ �
<br /> located, stored or released on or in the Property. This restriction does not apply to small quantities of Ha � ,,.,•
<br /> Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property �,e� ,�,,.,,
<br /> B. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every tenant have bee��'; ,�
<br /> and shall remain in full compliance with any applicable Environmental Law. �� �� � �
<br /> C.Trustor shall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance occ °'�,;„
<br /> under or about the Property or there is a violation of any Environmental Law concerning the Property. In sUC�t "`
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<br /> event, Trustor shall take all necessary remedial action in accordance with any Environmental Law. ����
<br /> D.Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is any p�°'"� ' �
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<br /> or threatened investigation, claim, or proceeding relating to the release or threatened release of any H � �
<br /> Substance or the violation of any Environmental Law.
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<br /> 18. CONDEMNATION. Trustor will ive Beneficia rom t notice of an endin or threatened action b rivate �� � �'
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<br /> entities to purchase or take any or all of the Property through condemnation, eminent domain, or any other me �,�,� ».
<br /> authorizes Beneficiary to intervene in Trustor's name in any of the above described actions or claims. Trusto `�'
<br /> Beneficiary the proceeds of any award or claim for damages connected with a condemnation or other taking , � ;�
<br /> part of the Property. Such proceeds shall be considered payments and will be applied as provided m ' ,3�
<br /> Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, securi���`' � p� i��
<br /> other lien document. �.,�,°° "��E�'f ...I��
<br /> 19. INSURANCE. Trustor shall keep Property insured against loss by fire, flood, theft and other hazard = � ��� � ����
<br /> associated with the Property due to its rype and location. This insurance shall be maintained in th ' ' � ' � _ �
<br /> periods that Beneficiary requires. The insurance carrier providing the insurance shall be cho �+�1C;�s'�, '
<br /> Beneficiary's approval, which shall not be unreasonably withheld. If Trustor fails to maw� _ ;'��, 1�� '�� �� �,� ��;
<br /> above, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's ' ' � ��
<br /> to the terms of this Security Instrument. '� "°"' � � �€ s °°,! =
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<br /> All insurance policies and renewals shall be acceptable to Beneficiary and sha r Gl , S� �, '� � u� �; 3;� .
<br /> where applicable, loss payee clause.' Trustor shall immediately notify �en� "��.�r t�� ��, :
<br /> insurance. Beneficiary shall have the right to hold the policies ���+ ' �i ,� °'�� ���E ��,, -
<br /> immediately give to Beneficiary all receipts of paid premiu � � '��� �
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<br /> immediate notice to the insurance carrier and Beneficiary �e �p � � � z ����� i � `� '�.
<br /> Trustor. E E�� ���« ���3�' �� � ���, � � � , _ � ����'� � � 3 ��
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