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RE- RECORDED 2003033202
<br />200305 &�� '
<br />At the option o neficiary, all or any part of the abneed fees and p 0 the accrued interest and principal shell become
<br />immediately due and payable, after giving notice if required by law, upon the occurrence en of a default t, other a thereafter.
<br />In addition, Beneficiary shall be entitled to all the remedies provided by law, the Evidence of Debt, other evidences of
<br />debt, this Deed of Trust and any related documents including without limitation, the power to sell the Property. advertise
<br />If there is a default, Trustee shall, in addition to any other permitted remedy, at the request of the Beneficiary,
<br />and sell the Property as a whole or in separate parcels at public auction to 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 and 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, inmixece, liens, assessments and prior encumbrances and interest
<br />thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may
<br />purchase the Property. The recitals in any deed of conveyance shall be prima facie evidence of the facts act forth therein.
<br />All remedies are distinct, cumulative and not exclusive, and the Beneficiary is entitled to all remedies provided at law or
<br />equity, whether expressly set forth or not The acceptance by Beneficiary of any sum in payment or partial payment on die
<br />Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a
<br />waiver of Beneficia "efic ail to deas not waivenBeneficiary's right to later consider a the event a default exercising iittrcon remedy es or
<br />Trostor's default, Y
<br />happens again.
<br />IN. EXPENSES; ADVANCES ON COVENANT'S; ATTORNEYS' FEES; COLLECTION COSTS. Except when
<br />prohibited by law, Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches any covenan n m preserving or
<br />Trust. Traitor will also pay on demand all of Beneficiary's expenses incurred in collecting, g, P g
<br />protecting the Property, or in any inventories, audits, inspections or Other examination by Beneficiary in respect to the
<br />Property. Truster abrtees to pay ell costs and expenses incurred by Beneficiary in enforcing or protecting Beeficiary' S
<br />rights and remedies under this Deed of "trust, including, hest not limited to, attorneys' fees, court costs, and other legal
<br />expenses. Once the Secured Dcbt is fully and finally paid, Beneficiary agrees to release this Deed of Trust and Truster
<br />agrees to pay for my recordation costs. All such amounts are due on demand and will bear intrest from the time of the
<br />advance at the highest rate in effect, from dine to time, as provided in the Evidence of Debt and as pemtitted by law.
<br />"
<br />19. ENVIRON11�N1'AL LAWS AND HAZARDOUS SUBSTANCES. As used in [his section, (1) "Environmental Law
<br />means, without ]imitation, the Comprehensive Environmental Response, Compensation a¢d Liability Act (CERCLA, 42
<br />U.S.C. 9601 el seq.), all other federal, state end local laws, regulations, ordinances, wort orders, attorney general
<br />opinions or interpretive letters concerning the public healW, safety, welfare, environment or a hazardous substance; and (2)
<br />'4lazardous Substance" means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has
<br />or
<br />characteristics which render the substanec dangerous or potentially dangerous to the public health, safety, bstan a ,"
<br />environnsent. The term includes, without limitation, any substances defined as "hazardous material," "toxic substances,"
<br />"hazardous waste" or "hazardous substance" under any Environmental Law. '1'rostor represents, warrants and agrees that,
<br />except as previously disclosed and acknowledged in writing:
<br />A. No Hazardous Substance has been, is, or will be located, transported, manufactured, Treated, refund, or handled by
<br />any person on, under or about the Property, except in the ordinary course of business and in strict compliance with
<br />ail applicable Environmental law.
<br />B. Trustor has not and will not cause, contribute to, or permit the release of any Hazardous Substance on the Property.
<br />C. Truster will immediately notify Beneficiary if (1) a release or threatened release of Hazardous Substance occurs, on,
<br />under or about the Property or migrates or threatens to migrate, from nearby property; or (2) there is a violation of
<br />any Environmental Law concerning the Property. In such an event, Trustor will take all necessary remedial action
<br />in accordance with Environmental Law.
<br />D. Tnistor has no knowledge of or reason to believe there is any pending or threatened investigation, claim, or
<br />proceeding of any kind relating to (1) any Hazardous Substance located on, under Or about the Property; or (2) any
<br />violation by Trustee or any tenant of any Environmental Law. Truster will immediately notify Beneficiary in
<br />writing as soon as Tmator has reason
<br />to believe there is any such pending or threatened investigation, claim, or
<br />proceeding. In such an event, Beneficiary has the right, but not the obligation, to participate in my such
<br />proceeding including the right to receive copies of any documents relating to such proceedings.
<br />E. Truster and every tenant have been are and shall remain in Cull compliance with any applicable Environmental
<br />Law.
<br />F. There are no undergrourd storage tanks, private dumps or open wells located on or under the Property and no such
<br />tank, dump or well will be added unless Beneficiary first consents in writing.
<br />G. Truster will regularly inspect the Property, monitor the activities and operations on the Property, and confirm that
<br />all permits, licenses or approvals required by my applicable Environmental Law are obtained and complied with.
<br />H. Trustor will permit, or cause any tenant to permit, Beneficiary or BeneGclary'a agent to enter and inspect the
<br />Property and review all records at my reasonable time to determine (1) the existence, location and nature of any
<br />Hazardous Substance on, under or about the Property; (2) the existence, location, nature, and magnitude of any
<br />Bazardous Substance that has been released on, =der or about the Property; or (3) whether or not Tnistor and any
<br />tenant are in compliance with applicable Anviromnental law.
<br />1. Upon Beneficiary's request and at my time, Truster agrees, at Trustor's expense, to engage a qualified
<br />environental engineer to prepare an environmental audit of the Property and to submit the results of such audit to
<br />m
<br />Beneficiary. The choice of the environmental engineer who will perform such audit is subject to Beneficiary's
<br />approval.
<br />J. Beneficiary has the right, but not the obligation, to perform any of T:'ustor's obligations under tiffs section at
<br />Trusten's expense.
<br />K, As a consequence of my breach of any representation, warranty or promise made in this section, (1) Trustor will
<br />indemnify and hold Beneficiary and Beneficiary's successors or assigns harmless from and against all losses, claims,
<br />demands, liabilities, damages, cleanup, response and remediation costs, penalties and expenses, including without
<br />limitation all costs of litigation and attorneys' fees, which Beneficiary and Beneficiary's successors or assigns may
<br />sustain; and (2) at Beneficiary's discretion, Beneficiary may release this Deed of Trust and in return Trustor will
<br />provide Beneficiary with collateral of at least equal value to the Property secured by this Decd of Trust without
<br />prejudice to any of Beneficiary's rights under this Decd of Trust.
<br />uf���• 1999 Benkors Sypema. loo. 61. CIOY4, MN Fo,m PG /CO -0i�NC 3 /alRaal C�\
<br />(Ci 64(NE) IO IOrl.a3 /
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