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<br />14. DEFAULT. Trustor will be in default if any party obligated on the Secured Debt fails to make payment when due. Trustor
<br />will be in default if a breach occurs under the terms of this Security Instrument or any other document executed for the
<br />purpose Of creating, securing or guarantying the Secured Debt. A good fzitt belief by Beneficiary that Beneficiary at any
<br />time is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment or
<br />the value of the Property is impaired shall also constitute an event of default.
<br />15. REMEDIES ON DEFAULT. In name instances, federal and state law will require Beneficiary to provide Trustor with
<br />notice of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to these
<br />limitations, if any, Beneficiary may accelerate the Secured Debt and foreclose This Security Instrument in a nhanner
<br />provided by law if Trustor is in default.
<br />At the option of Beneficiary, all or any pan of the agreed fees and charges, accrued interest and principal shall become
<br />immediately due and payable, after giving notice if required by law, upon We occurrence of a default or anytime
<br />thereafter. In addition, Beneficiary shall be entitled to all the remedies provided by law, the terns of the Secured Debt,
<br />this Security Instrument and any related 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 Beneficiary, advertise
<br />and sell the Property as a whole or in separate parcels at public auction nh the highest bidder for cash and convey absolute
<br />title free and clear of all right, title and interest of Truster at such time and place as Trustee designates. 'Trustee shall give
<br />notice of sale including the time, terms and place of sale and a description of the property to be sold as required by the
<br />applicable law in effect at the Time of The proposed sale.
<br />Upon sale of the Property acid to the extent not prohibited by law, 'Trustee shall make and deliver a deed to the Property
<br />sold which conveys absolute title to the purchaser, and after first paying all fees, charges and costs, shall pay to
<br />Beneficiary all moneys advanced for repairs, taxes, insurance, liens, assessments and prior encumbrances and interest
<br />thereon, and The principal and interest on the Secured Debt, paying the surplus, if any, to Truster. Beneficiary may
<br />purchase the Property. The recitals in any 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 Rcncficiary is entitled to all remedies provided at law or
<br />equity, whether or not expressly set forth. The acceptance by Beneficiary of any sum in payment or partial payment on The
<br />Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a
<br />waiver of Beneficiary's right to require complete Cure of any existing default By not exercising any remedy on Truster's
<br />default, Beneficiary dues not waive Beneficiary's right to later consider the event a default if it continues or happens again.
<br />16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when
<br />prohibited by law, Truster agrees to pay all of Beneficiary's expenses if Trustor breaches any covenant in this Security
<br />Instrument Truster will also pay on demand any amount incurred by Beneficiary for insuring, inspecting, preserving or
<br />otherwise protecting the Property and Beneficiary's security interest. These expenses will bear interest from the date of the
<br />payment until paid in fill at the highest interest rate in effect as provided in the terms of the Secured Debt. Trustor agrees
<br />To pay all costs and expenses incurred by Beneficiary in collecting, enforcing or protecting Beneficiary's rights and
<br />remedies under this Security Instrument. '1Lis amount may include, but is not limited to, attorneys' fees, court costs, and
<br />other legal expenses. this Security Instrument shall remain in effect until released. Trustor agrees to pay for any
<br />recordation costs of such release.
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
<br />means, without limitation, the Comprehensive Environmental Response, Compensation and Lability Act (CERCLA, 42
<br />U.S.C. 9601 cT .seq.), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general
<br />Opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2)
<br />Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has
<br />characicrisuca 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," "toxic substances,'
<br />'hazardous waste" or 'hazardous substance" under any Environmental Law,
<br />Trnstor represents, warrants and agrees that
<br />A. Except as previously disclosed and acknowledged in writing to Rcncficiary, no Hazardous Substance is or will be
<br />located, stored or released on or in The Property. This restriction does not apply to small quantities of Hazardous
<br />Substances That are generally recognized to be appropriate for the normal use and maintenance of The Property.
<br />B. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every tenant have been, are,
<br />and shall remain in full compliance with any applicable Environmental Law.
<br />C- Trnstor shall immediately notify Beneficiary if a release or threatened release of a hazardous Substance occurs on,
<br />muter or about the Property or there is a violation of any Environmental Law concerning die Property. In such an
<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 pending
<br />or threatened investigation, claim, or proceeding relating To The release or threatened release of any Hazardous
<br />Substance or the violation of any Environmental Law.
<br />18. CONDEMNATION. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or public
<br />entities to purchase or take any or all of the Property through condemnation, eminent domain, or any other means. 'Trustor
<br />authorizes Beneficiary to intervene in Truaor's name in any of the above described actions or claims. Trustor assigns to
<br />Beneficiary the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any
<br />part of the Property: Such proceeds shall be considered payments and will be applied as provided in this Security
<br />Instrument. This assignment of proceeds is subject to the temps of any prior mortgage, deed of trust, security agreement or
<br />other lien document.
<br />19. INSURANCE. Truster shall keep Property insured against loss by fire, Rood, theft and other hazards and risks reasonably
<br />associated with the Property due to its Type and location. This insurance shall be maintained in the amounts and for the
<br />licriuds that Beneficiary requires. What Lender requires pursuant to the preceding sentence can change during the term of
<br />the loan. The insurance carrier providing the insurance shall be chosen by Trustor subject to Beneficiary's approval, which
<br />shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above, Beneficiary may, aT
<br />Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according To the [cur s of this Security
<br />Instrument.
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard " mortgage clause" and,
<br />where applicable, "loss payee clause." Truster shall immediately notify Beneficiary of cancellation or termination of the
<br />insurance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, 'Trustor shall
<br />immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give
<br />immediate notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by
<br />Trustor.
<br />(page 3 of 4/
<br />�lssa e,l1— Yyelamz. Inc, St C—d, AN rmm RE CT NE 1/3012002
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