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<br />14. DEFAULT. Truster will be in default if any party obligated on the Secured Debt fads to make payment when due. Truslor
<br />will be in default if a breach occurs under the terms of this Security instrument or anv other docurnenl executed for the
<br />purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at any
<br />lime is insevure with respect to any person or entity obligated on the Secured Debt or that the prospect orally payment or
<br />the value of the Property is impaired shall also constitute an event of default.
<br />15. REMEDIES ON DEFAULT. In some instances, federal and state her will require Beneficiary to provide Tmstor with
<br />note, of the right to erne oI otter notices and may establish time schedules for foreclosure actions. Subject to these
<br />limitations, if any, Beneficiay may accelerate the Sccural Debt and foreclose this Security Instrument in a manner provided
<br />by law if I rrstor is in default.
<br />At the option of Beneficiary, all or any part of the agreed fees mid charges, accrued interest and principal shall become
<br />immcdoidely due and payable, after giving notice if required by law, upon rte occurrence of a default or anytime thercafier.
<br />In addinom, Blenefcary shall be entitled to all the remedies provided by law, the Icons of the Secured Debt, this Security
<br />Instrument and any related documents, including without limitation. the power to sell the Property.
<br />If there is a default, Trustee shall, in addition to env 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 free and clear of all right, title and interest of frustor at such time and place as Trustcc 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 Its time of the proposed sale.
<br />Upon sale of the property and to the extent not prohibited by law, Ilustre shall make and deliver a deal to (lie Property
<br />sold which conveys absolute title to the purchaser, and after first paying all fees, charges end costa shall pay to Beneficiary
<br />all moneys advanced for repairs, taxes, insurance, liens, assessments and prior encumbrances and interest thereon, and the
<br />principal mid interest on the Secured Debt, paying the surplus, if any. to Truster. Beneficiary may purchase the Properly,
<br />the recntals in any deed of ennvevanec shall be prima facie evidence of the facts set ninth therein.
<br />All remefica are distinct, cumulative and not exclusive, aid the Beneficiary is entitled to all remedies provided at law or
<br />equity, whether or not expressly set forth. The acceptance by Rcncficiary of any sum in pavirent 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 waiver
<br />of Rcncficiary',, right to require complete cure of any existing default By, not exercising any remedy on Tiustor's default,
<br />Beneficiary does not waive Beneficiary 's right m later consider the event a default if it continues or happens again.
<br />16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEI'S' FEES; COLLECTION COSTS. Lxeept when
<br />prohibited b_v law, Trustor agrees' to pay all of Bencficray's expenses it Truster hreaches any covenant in this Security
<br />instrument Ims(or will also pay on demand any amount incurred by Beneficiary for insuring, inspecting, preserving or
<br />otherwise protecting the Property and Beneficiary's security interest. These expenses will bear interest from the date ofthe
<br />payment until paid in full at the highest interest rate in effect as provided in the fermis of the Secured Debt. Truslor agrees
<br />to pay all costs and expenses incurred by Rcncficiary in collecting, culmiring or protecting Beneficiary's rights and
<br />remedies under this Scantily Instrument This amount may include, but is not limited to, attorneys' tees, court costs, and
<br />ether legal expenses. This Security Instrument shall remain in effect until release{. Truster agrees to pay fur any
<br />recordation costs ofsuch release.
<br />17. ENVIRONMENTAL LAWS AND HALARDOUS SUBSTANCES. As used in this academe (1) Environnsnlal Law
<br />means- nrdiont Iimtation, the Comprchcnsivc I:nviionmentill Response, Compensation and Liability Act (CERCLA, 42
<br />1; .S( 9601 et sal.), and all other federal, state and local laws. regulations, ordinances, court orders, attorney general
<br />opinions or inte'lactive letters concerning the public health, safety_ welfare environment or a hazardous substance; and (2)
<br />Ilzzardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has
<br />characteristics whiuh render the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br />cnvirounteut. The term includes. v,dhaut Bnti tat ioii, any substances defined as " Itazardous material," "toxic substanccs,"
<br />"hazardous waste" or "hazardous suhsinnce" under am) Eii, momncenal Law.
<br />Tmstor represents, 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, na.1 or released on or in the Property. This restriction does not apply to small quantities of Hazardous
<br />Substances that are generally recognized to he appropriate for the normal use and maintenance of the Property.
<br />B_ Fxccpt as previously disclosed and ucknowledged in writing to Beneficiary, 'frustor and evcy tenant have been.
<br />are, and shall remain in fill) compliance with any applicable Fin i torments I Law_
<br />C Truslor shall immcdiatcly notify Bencha ma v if 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_ Bt such an
<br />event, Tensor shall take all necessary remedial action in accordance with anv To, vi ronntental 1 ace.
<br />D. 'I 'ustor shall innmecl atcly non y Bette tic iary in writing es soon as Trustor has reason to be] imx that is any pending
<br />or threatened mve'ligalinn, claim_ or proceeding relating to the release or threatened release of any Hazardous
<br />Substance or Lire violation of any F.rn'ironnrental Law.
<br />IN. CONDEMNATION. Trustor will give Bcecfieiary prompt notice orally pending or threatened action. by private or public
<br />entities to purchase in take moy or all of the Property through condemnation. eminent domain_ or any other means. Truslor
<br />aulhoriws Beneficomq to intervene in pastor's name in any of the above descnhed actions or claims. Trustor assigns to
<br />Bare It clan y IIte proceeds of any award or claim Ibr 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 />Instrument. 7 his."qu nent of proceeds is subject to the terms of any ptiot mortgage decd of trust, security agreement or
<br />other lien document
<br />19. INSDRANCE. ltusmr shall keep Property insured against loss by fire, flood, theft mod other hazards and risks reasonably
<br />asumiated with the Property due to its type and location. This insurance shall be maintained in the amounts and for the
<br />period, that Beneficiary reputes_ the insurance cerner providing the mnvance shall be chosen by Trusmr subject to
<br />Beneficory's approval, which shall nil he unreasonably withheld. 11 Treason fails to maintain the coverage described abc,g
<br />Rcncficiary may. at Bcslicfapcs option. obtain coverage to protect Beneficary's rights in the Property according to the
<br />lean, of des S"mrV InstrcnenL
<br />All insurance policies and renewals .shall be acceptable to Bmtefieiay and shall include a standard "mortgage clause" and,
<br />where appltcehle. "loss payee clause" Truslor shall immcdiatcly notify Beneficiary of cancellation or termination of the
<br />insurance. Rcncficiary shall have the right to hold the policies and renewals. It Beneficiary requires, Il'ustin shall
<br />immediately give to Renefiamy all receipts of paid Pic nnimns and renewal notices. Upon lose; Truslor shall give immediate
<br />notice to the insurance carrier and Beneficiary. Beneficial, may stake proof of loss tract made immediately by Tmstor.
<br />(paq 33 of 1 1/
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