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<br />14. DEFAULT. Truster will be in default if any party obligated on the Secured Debt fails to make payment when duc. Truslor
<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 Beneficiary at any
<br />Iis 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 constiute an event of default.
<br />15. REMEDIES ON DEFAULT. In some instances, federal and state law will require Beneficiary to provide Truster 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, Bcncfcia y may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided
<br />by law if Truster is in default.
<br />At 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 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 is a default, Trustee shall, in addition to any 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 fr, and clear of all right, title and interest of Trusror 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 m required by the
<br />applicable law in effect at the time of the proposed sale.
<br />Upon sale of the property and to the extent not prohibited by law, "trustee shall make and deliver a deed to the Pro eity
<br />sold which conveys absolute title to the purchaser, and after first paying all fees, charges and costs, shall pay to Bene icci uy
<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 wry, to Tmstor. Beneficiary may purchase the Property.
<br />Thu recitals in any deed of conveyance shall be prima facie evidence of the facts set forth therein.
<br />All remedies are distinct, cunrulative and not exclusive, and the Beneficiary is entitled m all remedies provided at law or
<br />equity, whether or not expressly set forth_ The acceptance by Beneficiary of any sum in payment or partial payment on the
<br />Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are tiled shall not constitute a waiver
<br />of Bcncficiary's right to require complete cure of any existing default. By not exercising any remedy on Tmstor's defnit,
<br />Beneficiary 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. Except when
<br />prohibited by law, Tiustor agrees to pay all of Beneficiary's expenses if'Trustor breaches any covenant in this Security
<br />Instrument. Trustor 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 of the
<br />payment until paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt. Truster agrees
<br />to pay all costs and expenses incurred by Beneficury 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, aid
<br />other legal expenses. This Security Instrument shall remain in effect until released. Trusror agrees to pay far any
<br />recordation costs of such release_
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
<br />means, without limitation. the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42
<br />U.S.C. 9601 at seq.), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general
<br />opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; mid (2)
<br />Hazardous Substance means any toxic, radioactive or hazardous material, waste, ppollutant or contaminant which has
<br />clarecteristics which render the substance dangerous or potentially dangerous to the public Incolh, safety, welfare or
<br />environment The term includes, without limitation, any substances defined as "hazardous material," "toxic substances,"
<br />"hazardous waste" or "hazardous auhatm ce' under any Environmental Law.
<br />Trustor 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, 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 aid maintenance of the Property.
<br />B. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every tenant have been,
<br />arc, and shall remain in hell compliance with any applicable Environmental Law.
<br />C. Trustor ,hall 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 violation of any Environmental Law concerning the Property. In such an
<br />event, I rieaor ,hall take all nceussery remedial udien in ucwrdance with any Environmental Ina_
<br />D. traitor shall immediately nosily Beneficiary in writing as soon as Trustor has reason to believe there is any pending
<br />or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous
<br />Substance or the violation of any Environmental law.
<br />18. C'ONDEMNATION. Truslor will give Beneficiary prompt notice of any pending or threatened action, by privalc or public
<br />entities to purchase or take any a all of the Property through condemnation, eminent domain, or any olhci means. Truator
<br />ahmn,izea Beneficiary to intervene in Tiustor's name in any of the above described actions or claims. Trustor assigns to
<br />Beneficinry 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 sl II be considered payments and will be applied as provided in this Security
<br />lnstruman. Tlm asvtgnruc t of p oceals is subject to the terms of any prior mortgage, decd of trust security agreement or
<br />other hen document.
<br />19. INSLRANCE. Trnsmr shrill keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably
<br />aasuciated with the Property due to its type and location_ This insurance shall he maintained in the amounts and for the
<br />periods that Beneficiary requires. The insurance carrier providing the insurance shall be chosen by 'Trustor subject to
<br />Beneficiary's approval, which shall not be unreasonably withheld, If truster fails to maintain the coverage described above,
<br />Beneficiary may, at Beneficiary a option, obtain coverage to protect Beneficiary's rights in the Property according to the
<br />terms of thi, Security Instrument.
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and,
<br />what applicable, "loss payee clause." 'I castor shall immediately notify Beneficiary of cancellation or termination of the
<br />im,monce. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Trustor shall
<br />immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give immediate
<br />...)tint Ie the insurance caner and Beneficiary . Beneficiary may make proof of losa i foot made immediately by Trustor.
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