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200207139
<br />IQ DEFAULT. Truster will he in default If any pally obligated on the Secured Debt fails to make payment when duo. Teener
<br />will be in default if a breach occurs under the femu of this Stereo Instrument or any other document executed for the
<br />purpose of creating securing or guarantying the Secured Debt ith A good fa helief by Beef ficiary that Bencliciary at any
<br />did is b secum with respect to any person or utility obligated on the Secured Debt or that the prospect of any Paymeft Or
<br />the value of the Properly is unpaired shall also constitute an event of default.
<br />15. REMEDIES ON DEFAULT. In some [nstafecs, federal and slate law w➢I require Bcncficiary to provide Tmstor with
<br />notice of the right to cure or other vell,eY and may establish time schedules for foreclosure actions. Subleet to these
<br />limitations, if am, Beneficiary may accelerate the Senators Debt and foreclose this Security Instmment or a offmcr
<br />provided by law if Truster is in default.
<br />At the option of Beneficiary all or any part of the agreed and ciurges, seemed increb( and principal shall become
<br />immediately due and payable, after giving mticvr if required by law, upon the occurrence of a default or anytime
<br />thereafter. [n addition, Beneficiary shall be entitled to all the remedies provided by law, the leans of life Secured Debt,
<br />this Security Insmment and any related incursions, Including without Circulation, the power to sell the Property.
<br />If them is a default, Tmatce shall, in addition to any other permitted runNy, t file request of the Beneficiary, advertise
<br />and sell tile Property as a whole Or in separate parcels at public auction m life highest bidder for cash and convey absolute
<br />title free and clear of all right, title and interest of Trustor at such there and place as I'Come designates. 'I'rusm stunt give
<br />notice of sale including the time, terms and place of sale and a description of property to be sold as required by the
<br />applicable law is effect al (be time or due proposed sale.
<br />Upon sale of the property and to the extent nor prohlb[te4 by lawrustee shall make stud deliver a deed to tee Property
<br />hi
<br />sold wclf conveys absolute title te th fi
<br />e purchaser, and met hear paying all fees, charges and costs, shall pay to
<br />Beneficiary all n coneys advanced for repairs, taxes, Insurance, livers, Assessments and prior encumbrances and Curran
<br />thereon, and the principal and interest on file Secured Debt, paying the surplus, if any, to 'pr o Beneficiary may
<br />purchase the properly. The recital. in any deed of conveyance shall be prima facie evidence of the facts set ]unit therein.
<br />All remedies are distinct, cumulative and ml exclusive, and Ihe. Beneficiary, i entitled to all remedies provided at Law Or
<br />equity, whether or not uxprca.ly set Court 'I he acceptance by Bcncficiary of any sum in paymeth or partial paynncm. ore the
<br />Secured Debt after the balance is due or is accelerated or shut foreclosure procoedfugs are filed shall not constitute a
<br />waiver of Beneficiary's right to require complete cum of any existing default. By for exercising any country on Trustor's
<br />default, Beneficiary does not waive Bea riciary's Fight to later consider life event a default if it aominues Or happens again.
<br />16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' TEES; COLLECTION COSTS. [1xeeT1 when
<br />pprohibited by law, 'fmsmr agrees to pay all of Roo eficiary 's expenses if Trustor breaches any covenant In this Security
<br />IfAr1 cut. I'no wJI also pay on dcmfaud any annum incurred b_ Bcnctficiary for insuring, inspecting, preserving or
<br />otherwise protecting file Property and Bcndeiary's security interest. 'These expenses will bear interest from the date Of Be
<br />payment until paid in fill] at the highest interest rate in effect as provided in the terns of (he Secured Debt. 'Tmstor agrees
<br />to pay all Costs and expenses incurred by Beneficiary in Collecting, enforcing or promising Beneficiary 's nghb and
<br />remedies al this expenses I pity lnstmmma. tr us nt seal may ain in but is not I rel e s d Probe attorneys ' rtes, coup coats, and
<br />tither legal This Security instrument .hall remain if effect until releaauJ, ' flustnr agrees to pay for any
<br />recordation vats of each release
<br />17. ENVIRONMENTAk, LAWS AND HAZARDOUS SUBSTANCES. As used in this tendon, (1) EuviroinfeNal law
<br />without limitation, the Comprehensive Emirommntal Response, (bftpcn.sation and Liability Ann (CERCI A, 42
<br />ILSC. 9601 et see, ), and all other federal, state and local lasso, regulations, counters, court orders, armory general
<br />opinions or merpmtive Iertmrs concerning life public heath, safety, welfare, efvirontucnr Of a hazards" substance, and (2)
<br />hazardous Substance means ally toxic, radioactive or hazardous material, waste, pollutant or wfmmiiimnt which has
<br />elfaracteristics which render the .substance dangerous of potentially dangerous to the public health, safety, welfare or
<br />nm
<br />enviroent. 'Hie teen includes, without limitation, any substances defined as "Warders material," "toxic so is anus,"
<br />"hazardous waste' or "hazardous substance' under any Eavirovnantal Iaw.
<br />'Prot or rtTrescm., warrants and agmcs Ihae
<br />A. Cxcvpl as previously disclosed and acknowledged m writing m Iicuefictoo, no Ha ardous Substance is or will be
<br />located, stored or released on Or in the Property. This msviction does urn apply to small Barflies of Hazardous
<br />Substances that am generally recogmized In be appropriate for the normal use and maintenance of the Property.
<br />B. Gxecpt as previously disclosed and acknowledged fa writing to Beneficiary, Tracer and every tenant have been, are,
<br />and shall remain in full compliance with any applicable Envirowulumi Law.
<br />C.'I'Castor shall immediately notify Booreficire if a release or frcalcned release of a Hazardous Substance occurs o
<br />under or about the Property or them is a violation of any knvimmnmtial law concerning the Property. In such an
<br />event, Tlusmr shall take all necessary remedial action in accordance with any Environmental Law.
<br />1), trustee shall imanediately notfy Bcncficiary in writing as soon as'Insurer has reason to believe there is any pending
<br />or Bordered imosfigatime, dais r proceeding rolating to die release or threatened release of any Hazardous
<br />Substanec Or the violation orally Puvhonmmnal Law.
<br />IS. CONDEMNATION. 'I 'motor 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 me property Borough C nteliallatiOnt conduct dmllaiq et any other means. Truster
<br />Authorizes Beneficiary to Intervene in "I'Faster's moue in any of N( above described actions or claims. Trustor assigns to
<br />Beef iciary the proceeds of any award or clahn for damages concocted wile a nondcnlmtion or other taking of all or any
<br />par of tile Popery. Such proocrds Beall be eomidemd payments and will be applied as provided in this Security
<br />lnawnhant. This assignment of proceeds is subject m life from of any prior mortgage, deed of trust, security agreement or
<br />other lien document.
<br />19. INSURANCE. Truster shall keep Property insured against toss by fire, flood, then and other lizards and risks reasonably
<br />associated with We Property due to its type and location . loin insurance shall be maintained in the millions and for tine
<br />perils that Bel efcia e requires. 'Ihe insurance carrier providing life insurance shall be chosen by '1'mnor subject to
<br />Beneficiary's approval, whddn shall not be unreasonably whMedd. If Truster fails to maintain life coverage described
<br />above, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in (lie property according
<br />to the terms of this fluently Instrument
<br />All insurance policies and renewals shall be acceptable to Benefician and shall include a standard "fetlgage clause' and,
<br />where applicahe, "loss payee clause." 'fluster slat Immediately III Ileneticiary of cancellation or committed of the
<br />insmmnec. Beneficiary shall have the right to hold the policies and amewals. If Beneficiary require, Inolor shall
<br />immediately give to Bcncficiary all receipts of paid Interface; and renewal notices. Upon loss, Tmstor shall give
<br />imafttliane notice. it) th insurance e insuran carries and BCur rociary. Bencliciary may ,fake pew of loss if not nude immediately by
<br />I'aumr.
<br />MD 3 o 01
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