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200205999
<br />14. DEFAULT. Truster will he in default if any party obligated un the Secured Debt fails to make payment when due. 'I itistor
<br />will be in default if a breach occurs under the terms of this Seautty 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 my 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, REVIEDIES ON DEFAULT. hn seine insharacs, federal and .state law will requite Beneficiary to provide Trustor with
<br />notice of the right to cure or other notices and may, establish time schedules for foreclosure actions_ Suhject to these
<br />limitations, if any, Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided
<br />by Imw, if Tiusloi is in default.
<br />AI the up [ion of Bcncfici ary, all or any part of the agreed fees and charges, accrued interest and principal shall bacon to
<br />immediately due and payable, after giving notice if required by law, upon Om occurrence of a default or anytime thereafter_
<br />In addition, Beneficiary shall be entitled to all the remedies provided by law, the ten rus of the Secured Debt, this Security_
<br />I rim rancid and any related documents, including without Iimiunion, the power to sell the Property.
<br />If there is a default, Trustee shall, 1n addition to any other permitted remedy, at the request of the Beneficiary, salver use
<br />and sell the Property as a whole or in separate parcels m public auction to the highest bidder for cash mid convey absolute
<br />tide flee and clear of all right, title and interest of Tmotor at such time mid place as Trustee designates. Trustee shall give
<br />our. of sale including tie time, terms and place of sale and a description of the property to be sold as required by the
<br />applicable Imv in effect at the time of the proposed sale.
<br />Upon sale of the property and to the extent not prohibited by Imv, 'frumee 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, and the
<br />principal and interest on the Secured Debt, paying the surplus, if may, to Trustor Beneficiary may purchase the Property
<br />The recitals to any decd of wmcyancc shall he prima facie evidence of the facts set forth thereto.
<br />All remedies are distinct, cumulative and not exclusive. and the Beneficiary is entitled to all remedies provided at law or
<br />equity, whether of not expressly set forth. The acceptance by Beneficiary of any sum in payment or panted payment on the
<br />Secured Debt alter the balance is due or, is accolvi aled or after foreclosure proceedings are filed %hall not constitute a wan an
<br />of Beneficiary s right to require complete cute of airy existing default. By not exercising any remedy on Trustor's default,
<br />Ffmcfidary doe, 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; COLLEC'HON COSTS. Except when
<br />prohrbrled by law, fnmor agrees to pay all of Beneficing s expenses iC Trustor breeches any covenant is ill rs Security
<br />Instrument, Trustor will also pay on demand any amount incurred by Beneficiary for insuring, inspecting, preserving or
<br />otherwise protecting the Property mid Beneficiary's security interest. These expenses 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 tears of the S aimed Debt, Trustor agrees
<br />to pay all costs and expenses incurred by fienefimary in collecting, enforcing or protecting Bir eficinr_v's rights and
<br />remedies under this Sccurily Instrument This amount may include, but is not limited to, attorneys fees, court costs, and
<br />other legal expenses. This Security Instrument shall remain to effect until released. Truster agrees to pay for any
<br />recordation costs of such release_
<br />17. ENVIRON'NIENTAI. LAWS AND HAZARDOUS SUBSTANCES. As' used in this section, (1) Environmental low
<br />uneans, without Itmirmion, the Qnnprchcnsivc Fa,ronil l Response. Compensation and I_rabidity Act (CERCLA, 42
<br />U S. C. 9601 or seq -). and all other federal, state mid local Imes, regulations, ordinances, court orders, attorney general
<br />uptninn, or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance, and (2)
<br />Hazardous Substance moms any toxic, radioactve 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 or
<br />environment The term includes, without limitation, any substances defined as "hazardous material." "toxic senor es,"
<br />"hazardous wash," or "hazardous imbalance" under any Environmental Law.
<br />Trustor represents. warrants and agrees that
<br />A. Fxeepl as previously disclosed and 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 />B- Ixcepl as previously disclosed mid acknowledged to writing to Beneficiary. Trustor and every tenant have been,
<br />arc, and shall remain in full compliance with any applicable Lnvironmental Law.
<br />C. Trosto, 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 atolation of any Bnvironmental Law annecriurC the Property . In such an
<br />event, I,mao, shall take all necessary remedial action in accordance with any Emdronmental Law.
<br />D. Trustor shall tmmedmlely notify Beneficiary in writing as soon as Trustor has reason to beliccc there is any pending
<br />or threatened inccshgalion, claim, or proceeding relating to the release or threatened release of any Hazardous
<br />Substance or the violation of any Environmental Law.
<br />IS. CONDENINA'FION- Truster will arse Beneficiary piounpt notice, of any pending or thrcatened action, by private or public
<br />entities to purchase or lake any or all of the Property through condemnation, eminent door atill or any ,then means. Trustor
<br />authorizes Beneficiary to intervene in Tnuteir', name in any of the above described 'actions or clainhs. Tnusum 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 be considered payments and will be applied as provided in this Security
<br />hrstrumcut Tlus essr;nancul of proceeds is subject to the terms of any prior mortgage, deed of trust, security ameennenl or
<br />other lien document.
<br />19. INSURANCE. Trustor shall keep Property insured against Tess by fire, flood, theft and other hazards and risks reasonably
<br />associated wrh the Property due m its type and location, This insurance shall be maintained in the amounts and for the
<br />periods that Beneficiary rcyuim,. The insurance carrier providing the insurance shall be chosen by Trustor subject or
<br />Beneficiary's approval, which shall not be uurcasonahk whhhcld. If Truster fails m mamtavt the coverage described above,
<br />Bcneficiary may, at Beneft lary's option, obtain coverage N protect Beneficiary's rights in the PriPerry ..,,it tng to the
<br />terms of this Securth Instrument_
<br />All tnmirlocc politics and renewal, shall be acceptable m Beneficiary and shall include a standard "muilgagc clausc" and,
<br />where applicable. "loss p¢yee clause." Trustor shall tmmedtare] y u oil fv Rene ficiary of cancellation or for in met ioil of the
<br />insurance Beneficiary shall have the right to hold the politics and renewals. If Beneficiary requires, Trnsmr shall
<br />Immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss. Trustor shall else immediate
<br />notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by 7 ivstor.
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