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200205465 14_ DEFAULT. 'trust... will be in default if any pinny ebllgated On the Secured Debt fails to ..take paymenl when duc. 'Itusmr will he in default if It breach occurs under the terms of this Security Instrument or any other document executed for the purpose of creating, securing or goaranlying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at any time is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment or tlrc value of the Properly is impaired shall also constitute An event of defaub_ 15. REMEDIES ON DEFAULT. In some instances, federal and state law will require Beneficiary to provide 'truster with notice of the right to cure Or other notices and may establish time schedules for foreclosure actions. Subject to these limitations, if any, Beneficiary may aerelerate the Secured Debt and foreclose this Security Instrument in a nuturl provided by law if '1 faster it in default. At the option of Beneficiary, all or arty part of the agreed fees and charges, accrued interest and principal shall become immediately due and payable, after giving notice if required he law, upon the occurrence of a default or anyrbuc thereafter. In xolditica, Beneficiary shall he Swilled to all the remedies provided by law, the terms of the Secured Debt, Iris Security Instrument and any related documents, including without Ilrrhhalllrlt [tic power to sell the Property. If then, is a default, 1 'rustere shall, in addition to any other permilhol remedy, At life request of the Beneficiary, advertise and sell the property as n whole or in separate parcels at public auction m tin highest bidder for cash and convey absolute title it" And clear of alt right, title and moresl Of Trustor at such time and place as 'Ilustee designates. Trustee Shall give notice of sate including the tune, wrens and place of sale and a description OI tie property to be sold its required by the applicable law in effect at the time of the proposed sale. Upon sale of the property and to the extern not prohibited by law, 'trustee shall make and deliver a deed to the Property sold which conveys absnlure title to the purchaser, and Ater first paying all fees, charges and costs, shall pay IO Beneficiary all mnncys advanced for repairs, taxes, insurance, liens, assessments and prior encumbrances and interest Ihcusm, And the principal and interest on the Secured Debt. paying the surplus, if any, to Truster. Beneficiary may purchase the Property. The recitals in any deed of conveyance shall be prhna facie evidence of the facts set forth therein NI remedies are distinct, cumulative and nor exclusive, and the Beneficiary is euntled to all remedies provided at law or equity, whether or not expressly set fond- The acceptance by Beneficiary of any smu in payment or partial payment on the Secured Debt alter the balatrcc is due or is accelerated or after foreclosum proceedings are tiled sha l not constitute A waiver of Bcncficiaty's right to requite complete cure of any existing default. By not exercising any rcnhedy on Tmstor's defaub, Bcncficiary does not waive Beneficiary's right to later consider the event a default if it continues or happens Again 16. EXPENSES, ADVANCES ON COVENANTS, ATTORNEYS' FEES, COLLECTION COSTS. Except when pralribimd by law, Trustor agrces m pay all of Beneficiary's expenses if Trustor breaches any covenant in this Security Instrument Trustor will also pay on demand any amount incurred by Beneficiary for insuring, inspecting, preserving or otherwise protecting the property and Benehciary's security interest 'tluese expenses will bear interest InmI the date of the payment until paid in full al the highest interest rate in effect as provided in the terms of rite Secured Debt. Trustor agrees to pay all costs and expenses incurred by Beneficiary in collecting, enGuoing or protecting Beneficiary's rights and remedies under this Security Instrument this tmtount may include, but is not Ilnhitcd to, attorneys' tees, court costs, and other legal expenses. This Security Instrument shall remain in effect until released. 'flusher Agrees to pay for any recordation costs of Such release_ 17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (D Environmental Law mctns, without limitation, the Comprehensive P.nvimnmenral Response, Conrpensauon and Liability Act (CERCLA. 4: If.SC. 9601 on self ), and all (alter federal, state and local laws, regulations, Ordinances, coma orders, attorney geucral opinions or interpretive Idlers concerning the public health, safety, welfare, envimrmhent or of hazardous subswnc;; and (3) Hazardous Substance means any toxic, radioactive or Iazardous material, waste, pollutant Or contaminant which has characteristics which render the substance dangerous or potentially dangerous it) the public health, safety, welfare or environment 'lhe lean includes, without Ihnicaion, any substances delined as "hazardous material" "toxic suh,lances," "hazardous waste" Or "hazardous substance" trader Airy P.nvironmenral law. Tnsmr repnunn, warranty Awl agrees that A.1 ?xcepl as previously disclosed and acknowledged in writing to Beneficiary, no hazardous Substance is or will be located, stored or released nn nr in the Properly. This restriction does not apply to small quantities of lazardous Substances that are generally recognized to be appropriate for Inc normal use and maintenance of the Pmperry- B. Except AS previously disclosed and acknowledged in writing to Beneficiary, 'Trustor and every reliant have been, arc, and shall n ntaiu in full compliance wilt arty applicable Hav rownental Law. C. Trustor shall immediately notify Benefeutty if a release or threatened release of a Hazardous Substance occurs On, under or about lire Property or there is a violation of any Envimuntental Law concerning Ihn Property. In such an coved, Trustor shall lake all necessary remedial action in accordance with any Lnvirnnmcnfal law. 1).'1 luster Shall inunediately nnlify Beneficiary in writing is soon as Truster has reason to believe there is ;my pending or threatened Invesligatiurr, clamt or proceeding relating to rte release of threatened release of any Uniardais Substance or lire violation of any Environmental Law_ 18. CONDEMNATION. Trustor will give Beneficiary prompt notice Of any penning or threatened action, by private or public entities to purchase or lake any or all of the property through cendcmnation, emme of domain, or any other means_ Trustor authorizes Bcncficiary te intervene in'I'ruster's Dame in any of the above described axiom ..r claims. Trustor assigns to Beneficiary the prOCecds of any award or claim for damages connected with a conncnnwtion of other taking of NI or any pan Of the Properly. Such proceeds shall be considered payments and will be applied as provided in this Security Instrument llris assignment of proceeds is subject un the terns of any prior mortgage, deed of .rust security agreement or olhcr lien document. 19. INSURANCE.. Trustor shall keep property insured against loss by fire, Flood, theft and Other lla]HrdS and risks reasonably associated with the Property due nr its type and location. This insurance shall be nhaiandaed in the amounts and for the periods that Boneturary requires. The insurance carrier providing the insurance shall be chosen by fluster subject to Beneficiary's approval, which Shull not be unreasonably withhela. If 'frustur fails to maintain the coverage described above, Bcncficiary Truly, at Beneficiary's option, obtain coverage to protect Bcncficiary', rights in the Property according m the tens of this Sccuriry IAvnnncnl. AIL insurance policies and renewals shall he acceptable to Bcncficiary and shall tncWdc a standard "mortgage clause" and, where applicable, 'loss payee clause." Truster shall mornediately notify Beneficiary of cancellation or formulation of the insurance. Ileneftciary shall have the right to hold the pOlicicS and renewals. If Beneficiary requires, Trustor shall hnmediately give to Beneficiary all receipts of paid premiums and renewal notices_ Upon loss Trustor shall give in..nediate notice m the insurance carrier and Beneficiary. Benefciary may make proof of loss if not made immediately by 11 faster. A (Pa in 4I .,1 . a.," S11 117 ;.an ro,m ar OT rte vz.et . _ .