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200201933
<br />14. DEFAULT. Trust., will be in default if my party obligated on the Secured Debt fails to make payment when due. Trustor
<br />will he 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 faith 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 some instances, federal mid 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 murmur provided
<br />by law if Trustor is in default.
<br />At the option of Beneficiary, all or ary part 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 the occurrence of a default or anytime thereafter.
<br />In addition, Beneficiary shall be entitled to all the remedies provided by law, the terms of the Secured Debt, this Security
<br />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 icandy, at the request of the Beneficiary, advertise
<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 mid interest of- rrustor at such time and place m 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 ax 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 Beneficiary
<br />all moneys advanced for repairs, taxes, insurance, liens, assessments and prior encumbrances and interest thereon, mid the
<br />principal mid interest on the Secured Debt, paying the surplus, if may, to Trustor. Beneficiary may purchase the Property.
<br />The recitals in any decd 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 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 ore filed shall not constitute a waiver
<br />of Beneficiary's right to require complete cure of my existing default. By not exercising any remedy on Trustee's default,
<br />Beneficiary does 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, Trustor agrees to pay all of Beneficiary 's expenses if Trustor trenches any covenant in this Security
<br />Instrument. Trustor will also pay on demand any amount incurred by Beneficia'y for insuring, inspecting, preserving or
<br />otherwise protecting the Property and Bemeficimy's security interest These expensev will hear interest from the date of the
<br />payment until paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt. Trustor agrees
<br />to pay all costa and expenses incurred by Beneficiary in collecting, enforcing or protecting Beneficiary's rights and
<br />emc r
<br />res under this Security Instrument This amount may include, but is not limited to, attorneys' fees, court costs, mid
<br />other legal expenses. This Security Instrument shall remain in effect until released Trustor agrees to pay for any
<br />recordation casts of such release.
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in []its section, (1) Euviionmenlal Law
<br />means, without limitation, the Comprehensive Environs ental Response, Compensation and Liability Act (CERCLA, 42
<br />U.S.C. 9601 et seq.), and all other federal, state mid 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 meats any toxic, radioactive or hazardoua material, waste, pollutmit w contaminant which has
<br />characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br />environment. Tire tern, includes, without Iinitiation, any substances defined as "Ia.,dous material," "toxic substances,"
<br />"hazardous waste" or "hazardous substance" under any Environmental Law.
<br />Trustor represents, warrants and agrees that
<br />A. Except as previously disclosed mid acknowledged in writing to Beneficiary, no Hazardous Substance is or will he
<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 />13. Except as previously disclosed and acknowledged in writing to Benefictary, Trustor and every tenant have been,
<br />are, and shall remain in full compliance with any applicable Environmental raw.
<br />C. Trustor shall immediately notify Beneficiary if a release or threatened release of a hazardous Substance occurs on,
<br />under or about the Property or there is a violation of any Environmental Taw concerning the Property. In such an
<br />event. Trustor shall take all necessary remedial action in accordance with mry Environmental Law.
<br />D. Trustor shall trmnediately notify Benefienry in writing as soon as Truster 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 a y Environmental Law
<br />18. CONDEMNATION. Truslor 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. 'Imstor
<br />authorizes Beneficiary to intervene in Taster'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 he considered payments and will be applied as provided in this Security
<br />Insrument Ina assignment of proceeds is subject to the terms of any prior mortgage, decd of trust, security agreement or
<br />ether fie, document.
<br />19. INSURANCE. I n o., shall keep Properly insured against loss by fire, flood, theft and other hazards and risks reasonably
<br />associated with [lie Property due to its type and locahmr. This insurance shall be maintained in the amounts and for the
<br />periods that Beneficiary requires. The insurmnee carrier providing the insurance shall be chosen by Truslor subject to
<br />Beneficiary's approval, which .shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above,
<br />Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according to the
<br />terms of this Security Instrument
<br />All insurance policies and renewals shall be acceptable to Beneficiary mid shall include a standard "mortgage clause" and,
<br />where applicable, "loss payee clause." Trustor shall immediately notify Beureficimy of cancellation or termination of the
<br />insurance. Beneficiary y 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 immediate
<br />notice to the insurance carrier and Beneficiary . Beneficiary may make proof of leas if not made immediately by truster
<br />(page 3 of 4)
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