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<br />14. DEF'AUL'T'. 'l roster will be in default it any party obligated on the Secured Debt tails to make payment when due. Truster
<br />wtl 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 faith belief by Beneficiary that Beneficiary of 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 cnnetitute an event of default.
<br />15. REMEDIES ON DEFAULT. In some inslar¢es, federal mid slate law will require Beneficiary to provide Tmstor with
<br />notice of the right to cure of other notices and may establish time schedules for foreclosure actions. Subject to these
<br />limitations, if any, Beneficiary may acccleratc the Secured Debt and foreclose this Security Instrument in a manner provided
<br />by law if'U.,Im is in default.
<br />M the option of Beneficiary, all or any 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 of mryliuhe 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 11 a default, 'rmstcc shall, in addition to any other permitted remcdv, at the request of the Beneficiary, advertise
<br />mid sell the Property as a whole or if separate parcels at public auction to the highest bidder for cash mid convey absolute
<br />title time 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 Inca in effect at the time of the proposed sale.
<br />Upon safe of the property and to the extent not prohibited by law. Trustee shall make and deliver a deed to the Property
<br />sold which conseys absolute title to the puielhxser and after first paying all fees, charges and coats, shall pay to Rmteficiary
<br />all moneys advwsed for repairs. taxes, insurance, liens, assessments and prior enculebra ces and interest thereon, mid the
<br />principal and interest on the Secured Debt, paying the suiphis, if any. to Tmstor_ Beneficiary may purchase the Property_
<br />The recitals in any deed of com eymhce shall be piling facie evidence of the facts set forth therein.
<br />All remedies are distinct, cumulative mid not exclusive, and the Beneficfarp is entitled to all remedies provided at law or
<br />equity, whether or not expressly act forth_ The acceptance by Beneficiary of any sum in payment or partial payment on the
<br />Secured Debt after the balance is due m is accelerated or after foreclosure proceedings are filed shall not emishfute a waiver
<br />of Beneticfary's right to require complete cure of any existing default. By not exercising wry remedy on Trustor's default,
<br />Bcncficfary 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. Exempt when
<br />prohibited by law, Trustor agrees to pay all of Beneficiary's expenses it Trustor breaches any covenant in this Security
<br />Instrument Yrrusto, will also pay nn demand any amount incurred by Reneficiary for insuring, inspecting, preserving or
<br />clhenvfse prolecGng the Property mid Beneficiary's security interest. These espctmes will bear interest from the date of the
<br />payment until paid in bill 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 m 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. Tmstor agrees to pay for any
<br />recordation costs if such release
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Emn.nmental Lmv
<br />means, without hmitatinu, the Comprchrnstve Ewyfronmental Response, Compensation and Liahildy Act (CERCLA, e,2
<br />U.S.C. 9601 at seq.), and all other federal, state mid local laws, regulations, ordiigmes, court order's, attorney general
<br />opinions or interpretive letters concerning the public health_ safety, wdthre, environment or a hazardous substance; and (2)
<br />Hazardous Substance means any toxic. radioactive or hazardous material, waste, pollutant or contaminant which has
<br />characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare of
<br />envircument The ten. includes, without hi iaton, any substances defined as "hazardous nratc,,sl, "toxic substances"
<br />"hazardous wade" or "hazardous substance" under acv Environmental l.aw.
<br />Trustor represents, wunan, wed egress that,
<br />A. Except as previously disclosed and acknowledged in writing to Reneficiary. no Hazudous Substance is or will he
<br />located, mlad or released on or in the Property. This restriction does tied apply to small quantities of flazardnus
<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, Tmstor and eiciv tenant have been,
<br />are, mid shall remain in full compliance with any applicable Environmental Law_
<br />C. Trustor shall immediately notify Beneficiary if a iclessc or threatened icicasc of a Hazardous Substance occurs on,
<br />under or about the Property or there is a violation of any Environmental Low concerning the Pioperty. In such an
<br />event. Trustor shall take all necessary remedial action in accordance with any Luvu onniental Law.
<br />D. Tremor shall immediately notify, Beneficiary in writing as soon as I rustor has reason to believe there is any pending
<br />or thrcatcned investigation, claim, nr proceeding relating to the release or threatened release of any Hazardous
<br />Substance of the violation of any Environmental Law.
<br />18. CONDEMNATION. Trustor will give Benefic ut% prompt notice of any pending of threatened action, by private m public
<br />entities to purchase or take any of all of the Property through condemnation, eminent domain, or any other means. Trustor
<br />authorizes Beneficiary to intervene in Trustor's name in any of the above described actions or claims. 'Trustor assigns to
<br />Beneficiary the proceeds of airy award or claim for damages connected with a condemnation or other taking of all of any
<br />Prat of the Property. Such proceeds shall be considered payments mid will be applied as provided in this Security
<br />lustre.. en t. This assogmnem of pt»ceeds is surfed to the terms of any prior mortgage, deed of trust, security agreement or
<br />other lieu doemnent.
<br />19. INSURANCE. Trustor shall keep Property insured aganvt loss by fire flood, their and other hazards and risks rcesonahly
<br />as's'ociated wfth the Property due to its type and location. This insurance sliall be maintained in the amounts and for the
<br />periods that Beneficary requires. The insurance carrier providing the Insurance shall be chosen by Tmstor subject N
<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 covemgc to protect Beneficiary's lights in the Property according to the
<br />terms of this Security In sit umcnI
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" lard.
<br />wloere applicable, "loss payee clause" Trustor 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 gfve to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trnsmr shall give immediate
<br />notice to the insurance carrier and Beneticfory. Beneficiary, may make proof of loss if not made immediately by Trustor.
<br />(page 2 of 4)
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<br />-C165(NE) 1111, tit
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