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<br />14. DEFAULT. Trustt,, will be in default if any party obligated on the Secured Debt fails to make payment when due. Trustur
<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 guarantying the Secured Debt. A good faith belief by Beneficiary that Benefmiary 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 av event of default.
<br />15. REMEDIES ON DEFAULT. In some instances, federal and slate 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 manner
<br />provided by law if'I'Faster is in default_
<br />AL 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 or anytime
<br />thereafter_ In addition, Beneficiary shall be entitled to all the remedies provided by law, the terms of the Secured Debt,
<br />this Security Instrument and any related documents, including without liimitalion, the power to sell the Property_
<br />If there is a default, Trustee shall, in addition to any other permitted remedy, at the request of the Beneficiary, advemtse
<br />and sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash and convey xhsolutc
<br />title free and clear of all right, title Had interest of Trustor 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 (o the extent not prohihied 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, insurance, liens, assessments and prior encumbrances and interest
<br />(hereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to Truster_ Beneficiary may
<br />purchase the Property_ The mcilals iu any deed of conveyance shall be prima facie evidence of the facts set forth therein.
<br />All remedies are distinct, cumulative and Hot 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 smrr in payment or partial payment on the
<br />Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a
<br />waiver of Beneficiary's right to require complete cure of any existing default. By not exercising any remedy On Trustor's
<br />default, Beneficiary dues 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 breaches any covenant in this Security
<br />Instrument. Trustur will also pay on demand any amount incurred by Beneficiary for insuring, inspecting, preserving or
<br />otherwise protecting tike Property and Beneficiary'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 provided in the terms of the Secured Debt Truslor 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. Truster agrees to pay for any
<br />recordation costs of such release.
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (p EnvironmcnWl law
<br />means, without limitation, the Comprehensive EtwHr.nmentat Response, Compensation and Liability Art (CERCLA, 42
<br />U.S.C. 9601 el seq., and all other federal, state and local laws, regulations, ordinances, court orders, attorney general
<br />opinions or interpretive Igar. ..coming (be public health, safety, welfare, 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 ter
<br />environment The term includes, without laureation, any substances defined as "hazardous material," "toxic substances."
<br />"hazardous waste" or "hazardous substance" under any Environmental law.
<br />Truster rcpreswLs, warrants and agrees that:
<br />A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is or will be
<br />located, shred or released im or in the Property. This restriction does not apply to .small quantities of Hazardous
<br />Substances [list are generally recognized to be appropriate for the normal use and ntandeuance of the Property.
<br />13. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every tenant have been, are,
<br />and shall remain in full compliance with any applicable Environmental Law,
<br />C_ Trustor shall immediately notify Beneficiary it 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 />event, Trustor shall lake all necessary remedial action in accordance with any Environmental Law.
<br />D. Truster shall immediately notify Beneficiary in writing as soon as Tmstor has reason to believe there is any pending
<br />or threatened investigation, churn, or proceeding relating to the release or threatened release of any hazardous
<br />Substance or the violation of any Environmental Law.
<br />18. CONDEMNATION. Trstm' 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 conduaualrun, eminent domain, or any other mean% 'I roster
<br />authorizes Beneficiary to intervene in Trustor's Waite in any of the above described actions or claims_ Trustur assigns hh
<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 be uonsidemd payments and will be applied as provided in this Security
<br />Instrument. This axsignntcnt of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or
<br />other lieu document.
<br />19_ INSURANCE. Trustor shall keep Property insured against loss by fire, food, their and other hazards and risks reasonably
<br />associated with the Property due to its type and location. This insurance shall be maintained in the amounts and for the
<br />periods that Beneficiary requires. The insurance carrier providing the insurance shall he chosen by Trustor subject to
<br />Beneficiary's approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described
<br />above, Beneficiary may, at Beneficiary's Option, obtain coverage to protect Beneficiary's rights in the properly according
<br />to the terms of this Security Instrument.
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shalt include a standard "mortgage clause" and,
<br />where applicable, "loss payee clause " 'Itusmr shall immediately notify Beneficiary of cancellation or terntnuton of the
<br />insurance. Beneficiary shall have the right w hold the policies and renewals. It Beneficiary requires, Truster shall
<br />immediately give m Beneficiary all receipts of paid premiums and renewal notices_ Upon loss, Trustor shall give
<br />immediate uolice to the insurance carrier and Beceticiary _ Bendiciary may make proof of loss if not made immed etc y by
<br />Trustor.
<br />(page 3 of 41
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