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<br />14. DEFAULT. Trustor will be in detault if any party obligated on the Secured Debt fails to make payment when due. Truster
<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 guaranty ntg 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 />f W value of the Property is impaired shall also constitute an event of default.
<br />15. RENIEDIES ON DEFAULT. In some 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 on foreclosure actions. Subject to these
<br />hillitalions, ii any, Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a miutner provided
<br />by la%r if Trustor is in default.
<br />.At the option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall become
<br />innnediately are and payahle, tiller 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 aw% the terms of the Secured Debt, this Security
<br />Instrument and any related documents, including without limitation, the power to sell the Property.
<br />tl 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 to the highest bidder for cash and convey absolute
<br />title Gee :and clear of all right, title and interest of Trustor at such time and place as Ti ust ce des,tnates Truste1c sf all'give
<br />notice of sale including the tithe, terms and place of sale and a description of the property to be sold as icqui ed by the
<br />applicable km in effect at the time of the proposed sale.
<br />(;pen sale of the property and to the extent not prohibited by law, Trustee shall make and deliver of deed to the Property
<br />e ,ld which come- -s absolute title to the purchaser, and after first paying all fees charges and costs, shall pay to Beneficiary
<br />all moneys advanced of repahs, taxes insurance, liens, assessments and prior encumbrances and interest thereon, and the
<br />principal and interest on the Secured Debt, paying the surplus, rf any, to Trustor. Beneficiary ntay purchase the Property.
<br />'I he rentals in any deed of conveyance shall be prima tame 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 taw or
<br />equity.. whether or not expressly set forth. 1 n acceptance by Beneficiary of any sum in payment or partial payment on the
<br />Secured Debt afrer the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver
<br />of Benchuaav's right to acquire complete cure of any existing default. By not exercising any remedy on Tnstor's default,
<br />Benetician,. does not waive Beneficiary's right to later consider the event a default if it continues or happens again.
<br />to, EXPENSES; ADVANCES ON C'OVENAN'TS; .ATTORNEYS' FEES; COLLECTION COSTS. Except when
<br />prohibited b�; law, 'I'rusmr agrees to pay all of Beneficiary's expenses if Trustor branches any cotenant in this Security
<br />Instrument. �frtstor will also pay on demand any amount incurred by Beneficiary for imurin„ Inspecting, preserving or
<br />flaorvt ise protecting the Property and Beneficiay^ s security interest. These expenses will bear interest from the date of-the
<br />payment until paid in full at the highest interest rate in effect as providcd in the terms of the Secured Debt. t'rustor 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. This 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 ofsuch release.
<br />I°. I: NYIRONMEN'T.AI, LAWS AND HAZARDOUS SUBSTANCES. As used in this
<br />u sail ). aid s11 . diet iederar state and local laws. rc�,rlati, ns. ordinances, court orders, a�torn ,genera(
<br />opinions or iwerprenve letters concerning the public heahh, safety, welfare, environment or a harudous subst tnce: and (�)
<br />I tazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant ra -hich has
<br />haracter runs which render the substance dangerous or potentially dangerous to the public health, safety.. oveltarc or
<br />cnviromncni. The term includes, without limitation, any substances defined as "hazardous material," "toxic substances"
<br />"hazardous waste' or 'hic ardou5 substance" under any Environmental Law.
<br />Trustor represents, warrants and agrees that:
<br />A. f.xcept as previously disclosed and acknowledged in writing to Beneficiary, no Ha7ardon5 Substance is or will be
<br />located, stored or released on or in the Property. Fins restriction does not apply to small quantities of Hazardous
<br />Substances that are Comer al ly recognized to be appropriate for the normal use and maintenance of the Property.
<br />R_ Except as previous]) disclosed and acknowledged in % %ritin, to Beneficiary, Trustor and every tenant have been,
<br />are, and shall remain in full compliance with any applicable Environmental Law.
<br />C. Il ustoi shall immaxiiately notify Beneficiary of 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 Law concerning the Property. In such an
<br />went. Trustor shall take all necessary remedial action in accordance with any Environmental Law.
<br />1 1 mister shall in notify Beneficiary in writing as soon as Trustor has reason to believe [here is tiny pending
<br />or threatened i oesti —aion, claim, or proceeding relating to the release or threatened release of any I- lazmdous
<br />Substaue or the violation of any 6nviionmenual Law.
<br />I8 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, of any other means. Trustor
<br />authorizes Beneficiary to intervene in "I It s name in any of' the above described actions or claims. Trustor assigns to
<br />Beneficiary the protcMk ol'am award or claim for damages connected with a condemnation or other taking of all or any 4.
<br />13,1!1 of the L petty Such proceeds shat! be considered payments and will be applied as provided in miss, Security
<br />In . :,Ills ni. 1 h)a as,igmnent of proceeds is subject io the tornis of any prior mortgage, cleed of trust, security agreement or
<br />other lien document.
<br />19. INSURANCE. Trustor shall keep Property insured a=gainst loss by fir, flood, theft and other hazards and risks reasonably
<br />associated with the Iroperty due to its type and location. This insurance shall be maintained in the amounts and k)i the
<br />periods that Bencfi tar) rcopahcs. The insurance carrier providing the insurance shall be chosen by "trustor subject to
<br />Beneilci.ary's approval, which shall not be umeasonahh� withheld. If Trustor fails to maintain fife coverage described above,
<br />Benefici a.s may, at fieneliciaW} option, obtain coverage to protect Beneficiary's rights in the Property according to the
<br />term; 01,01" Security Instrument.
<br />4rl incur: �rcc pot es acrd renet\als shall be acceprab'c of Heneficrare and shall include a standard "mortgage Qatse" and,
<br />where ah n- al,le, k s p:Lvee I ru.tor shall imntediruch notify Beneficial v of cancellation or termination of the
<br />tnaarutce Benefiou"r shall have the right to hold the policies and renewals. if Beneficiary requires, Trustor shall
<br />umadit! live to t3eneticiary all receipts of paid prem m
<br />ius and renewal notices. Upon loss, Trustor shall give immediate
<br />ice to
<br />711 nsurance carrier and Beneficiary. Beneficiary may male proof of loss if not made immediately by Trustor.
<br />(page 3 of 4)
<br />Ls .,,s sr•�lot CWAMK18C,',97- 2342)iom, FE DT NE I 0127197
<br />CI65(NEI ,oNOS�,: : ;
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