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200206971
<br />14. DEFAULT. 'truster will be in default if any pparty obligated on the Secured Debt fads to make payment when due Trsor
<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 guwantymg the Secured Debt A goad faith belief by Benndcimy dust beneficiary at any
<br />time is insecure with respect to any person or entity obligated on the Scarred Debt or that the prospect of any payment or
<br />the value of the Property is imparted shall also constitute an ever of default.
<br />IS. REMEDIES ON DEFAULT. In some instances, federal and state law will require Beneficiary to provide Trusmr with
<br />odour of the right to ware or tither notices and may establish time schedules for foreclosure actions. Subject to these
<br />limitations, if sty, Benefciay may accelerate the Secured Debt and foreclose this Security Instrument in a meaner provided
<br />by law if Trusmr is in default.
<br />At the option of Bmiefteiary, all or any part of the agreed fees and charges, accrued interest and principal shall become
<br />immediately due and payable, other giving notice if required by law, upon the occurrence of a default or anytime thin
<br />In addition, Boncficiary shall be entitled to all the remedies provided by law, the terms of the Secured Debt, Security
<br />Instrument and any related documents, including without ]initiation, the Power to sell the Property.
<br />If there is o default, 'Trustee shall, in addition to my other permitted remedy, al the rcquvst of the beneficiary, advertise
<br />and sell the Property as a whole or in separate Pat ecla at public auction to the highest bidder for cash and convey absolute
<br />title free and clew of all right, title umd interest of'I'roster at such time and place as Trustee designates. Trustee shall give
<br />notice of sale including the time, terms and place of sale laid a description of the property to be sold as required by the
<br />applicable law in effect at the Gme of the proposed sale.
<br />Upon sale of the pieparty and to the extent not prohibited by law, Trustee shall make and deliver a deed to the Property
<br />sold which convoys absolute title to the Purchaser, aid aria first paying all baes, charges slid costs, shall pay to Beneficiary
<br />all n d ncen f repairs, taxes insurance, Yens, a ie t d prior and interest thereon, and the
<br />Principal 1- ta'u�st the Secured U bt paying Hie s ld if } to'frusto . beneficiary may purchase the Property_
<br />Iffervailals in any deed oftscarreaceence shall b p imu lucre ovidunce of the facts set forth therein
<br />All remedies are distinct, cumulative mid not exclusive, and the Bendfida7 i entitled m all remedies provided at law or
<br />Nutty, whether or not ex ressly set forth The acceptance by Beneficiary of any sum in paymun or partial payment on the
<br />Secured Debt after the balance Is due or is pectination or after foreclosure proceedings are filed shall not constitute a waiver
<br />of Beneficiary' s right m require complete cure of any existing default By not exorcising any remedy on Trustor's default,
<br />Bencficiay 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, Tremor agrees to pay all of Beneficiary's expenses if tremor breaches any covenant in this Security
<br />heirunrait Trusor will also pay on demand any amount incurred by Bomfidmy for insuring, inspecting, preserving or
<br />otherwise protecting die Properly and Beneficiary s security internal. These expenses will bow interest from the date of the
<br />payment until paid In hill at the highest interest rate in offi&A as provided in the terms of the Secured Debt. Trusmr agrees
<br />to pay all costs and expenses incurred by Beneficiary in collecting, enl'oming or protecting Beneficiary's right and
<br />remedies under this Security Imtnmaemr. This winner may include, but Is not limited m, attorneys' foes, court costs, and
<br />Differ legal expenses. this Scantly instrument shall inflictor in effort until released. Truster agrees to pay for may
<br />recordation cons of such release
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBS' LANCES. As used in this section, (1) Environmental Law
<br />Without limitation, the Comprehensive limpotunrntal Response, Compensation and Liability Act (CFRCLA, 42
<br />ILAC. 9601 at wyj ), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general
<br />opinions or interpretive levers concerning the public health, safety, welfine, mvironment or a hazardous substance; and (2)
<br />Hazardous Substance m tins any toxic, radioactive or haeadoua material, Waste, pollman[ contaminant which has
<br />characteristics which render the substance dangerous or potentially dangemua m the public health, safety, w elfare or
<br />canent The rum iudcs, without rOl are, ims defival as heardoos niaterfal, "toxic substances,"
<br />M1zardnus waste" or here ardue substance' under ally Environmental
<br />Law_
<br />T roster reprewalk, warranu and agrees that
<br />A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Ilnzardous Substance is or will be
<br />Insured, stared or released on or in the Property. 'tips reamrction does not apply to small quantities of Hazardous
<br />Substances that me generally icwgnized to be appropriate for Life normal use and maintenance of the Property.
<br />B. Except as previously disclmsed and aclmisledged in writing to Beneficiary, 'truster and every tenant have been,
<br />arc, and shall remain in full compliance with any applicable Environmental Law.
<br />C Trustor shall immediately notify Beneficiay if a release or threatened release of a Hazardous Substance occurs on,
<br />under or about the Property or there is a vmlaGOe of any En namar ental Law concerning the Property. ht such an
<br />event, Transact shall take all necessary renedial action in accordance with any Environmental Law.
<br />D. Truster shall immediately notify rfieveficiax in writing as soon as Truster has reason to believe there is any pending
<br />or threatened investigation, claim, or proccedng relating to the release or dareatated release of any Hazardous
<br />Suhslauce or the violation of any Environmental Law.
<br />LA CONDEMNATION. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or public
<br />entities to purchase or take aiy or all of the Property through condemnation, eminent domain or any other mecca 'frustor
<br />,authorizes Beneficiary to intervene in Tmstor's name in my of the above described actions or claims. Trnstor assigns to
<br />Beneficiary the prrweeds ref any award or claim for damages connected with a condemnation or other taking of all or any
<br />part of the Property. Such proceed shall be considered Payments and will be applied as provided in this Security
<br />bstmment. This assignment of pmecaLs is subject to the lames offering prior mortgage, deed of trust, security agreement or
<br />other hmi document.
<br />19. INSURANCE. Tmsloi shall keep Property insured against loss by fire flood, then and other hazards and risks reasonably
<br />associated with the Property due to its type and location. This iusurame shall be maintained in the amounts and for the
<br />periods that Brrheficimy requires the insurance carrier providing the insurance shall be chosen by Minor subject to
<br />Beneficiary's approval, which shall not be tmeesonaon, withheld_ Lfirustor fads to maintain the coverage described above,
<br />Beneficiary may, it Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property wooding to the
<br />terns of this Security Instrument
<br />All insurance pp Yore. and renewals shill be aceetUble m Beneficiary and sh:dl include a standard "mortgage clause" mid,
<br />where applies In, "loss payee clause" 'fmstor shall immediately notify beneficiary of cancellation or termination of the
<br />insurance. Beneficiary shall have the right m ev
<br />hold the policies il fores la. If Benefciry requires, Trustee shall
<br />mcdimcly give to Brnefictary all receipts ofpaid premiums and miowal notices. Upon loss, Trusmr shall give immediate
<br />notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loan if not made inmedlately by traitor.
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<br />- C16ifNE) (98H).0'
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