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200207661
<br />14. DEFAULT. Trustor will be in default if any party obligated on the Secured Debt tale to make paymeat when due Trustor
<br />will be in default if a breach occurs under the terms of this Security Insstrumenl or any other d0IDU111CHI emcuted for the
<br />Pat pose of 't eat ..'cc v,ng a guarantying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at any
<br />time rs insecure with respect to any lensnn i entity chligated on the Secured Debt or that the pro,epe -.( of any payment of
<br />the value ofthe Property is impaired shall also constitute an event of default.
<br />15. REMEDIES ON DEFAULT. In same iuetauccs, federal and state law will require Beneficimy to provide Trustor with
<br />notice of [lie right to cure or other notices and may establish fine schedules for foreclosure actions Subject to These
<br />limitations, if any, Beneficiary may accelerate the Seamed Debt and foreclose this Scent idy Iit sh all en1 iu u nmuuei provided
<br />by law ifl rustor ism default
<br />AI the option of Beneficiary.. all ,f any part of the agreed fees and charges. accrued interest and principal shall become
<br />tau,. iatdy due and payahlc. after giving notice ificqui ed by law, upon the occun-ence ofa default or anytime thereafter.
<br />In addition. Beneflciap shall be entitled to all the remedies provided by law, the terms of the Secured Debt Ibis Security
<br />Instrument and any related loon unenis, including without limitation, the power to sell the Property.
<br />If there is a default, Trustee .hall . in addition to env other permitted renedy. at the request of the Beneficiary. edvertisc
<br />and sell the Pseserly as a whole ur in separate parcels at public auction to the highest bidder tot cash and convey, absolute
<br />title fic-e and clear of all right, title and interest of frusmf at such (line sad place as I ru.slec designates. Truslcc shall glvc
<br />uouce of sale mciudmr the time toms and place of sale ¢rid a desci ption of the properly to be sold as required by the
<br />applicable law in effeel at the time of the Proposed .sale.
<br />Upon sale of the property and to the extent not prohibited he law, Truslcc shall make and deliver u deed to the Property
<br />sold whmh conveys absolule title to the purchaser. and after first paying all fees, charges and costs, shall pay to Beneficony
<br />all moneys advancaf for repairs, tams, insurance. liens, assessments and prior encumhiances and interest thereon and the
<br />principal and interest on the Secured Debt, paying the surplus, if any to Trustor. Beneficiary may purchase the Property',
<br />lire recnals in any deed of conveyance shall be prima tome evidence of the facts set Borth therein.
<br />All remedies are distinct, cunmlan,c and not exclusive. and the Beneficiary is entitled to all remedies provided at law of
<br />equity, whether or not c,pressly set frvh. The acccplancc by Rcacfrciary of any sum in pavurei t of partial payment on the
<br />secured Debt otter the balance is due or is accelerated nr after foreclosure proceedings are filed shall not constitute a waiver
<br />,f Reneficiary's right to require complete cure of any existing default By not exercising any remedy oil Tinsmr's default,
<br />Beneficiary does not waive Beneficiary's right to later consider the event a default if it eonfinucs or happens again.
<br />16. EXPENSES; ADVANCES ON C'OA'ENANTS; ATTORNEYS' FEES; COLLE( HON COST'S. facept when
<br />piohibilel b_v law, l ru,on ag, c, to pay all of Benefimary s expenses d Ti usau hiesches any covenant in this See ill ity
<br />Instrument liestor will also pay on demand any amount incurred by Beneficiary for insuring. inspecting, preserving or
<br />otherwise protecting the Properly and Beuefician %s security interest These expenses will bear interest firms the dale of the
<br />paymeat until paid in full at the highest interest rate in affect as provided it the terms of the Secured Debt Trustor agrees
<br />to pas all costs and expenses manned by Beneficiary in collecting. enforcing or pielecong Beneficiary's rights and
<br />remedies under this Security Instrument Has amount may include, but is not limited lo. attorneys fees, court costs, and
<br />under Iceal expenses. This Seculn, Inetrunheut shall remain in effect until released_ Trustor agrees to pay for an,
<br />recordation coats of such release.
<br />17. ENVIRONMENTAL LAYS AND ILA %ARDOL'.S SUBSTANCES. As used in this section, (1) Fnvironannlal Law
<br />means, without Ihaamb,,. the ('onhprehensiyc P.nynonuscntal Re,ponec, Courpensatiou and Liabdir, Act (CERCLA, 42
<br />tf. (C. 0601 cl scq.). a,d Lill other federal. stale and local laws_ regulations ordinances, court orders_ sttn acs, general
<br />opinions or interpretive Ietter. 'oncefnmg the public health, safety_ welfare ea,uomm�n or a hazardou. aubslan,,: and (2)
<br />Ila,mdous Substance means any toxic. mdioavlov ,r hazardous material waste. pollutant or contatioumht'Inch has
<br />chna,eli,o,, which rode, the substance dangerous or podendially dangerous to the public health, ea lcl}'- wcllare ce
<br />cmiroament I he terns indud¢_ wuhom lunitali,,, any a,lotaucc, defined as "hazardous uhalci ial.' toxic substaucev."
<br />"hazardous waste" n, "hazardous substmse" under nuv Buvironatental Lain.
<br />Trustor represents_ warrants and agrees dial:
<br />A. I ,,It as prevmusly disdo'cd and acknowledged in writing to Beneficiary. no Hazardous Substance is or will be
<br />located_ star d or released on or iu the Property. This restridion does not apply to einall quantities of Illies der,
<br />Substances that ere ,gianaally recognized to he appropriate for the normal use and maintenance ofthe Property _
<br />B. Except rs pr eciousli disclosed and -1,klao,ledged misfiring to Bitten ears_ Tfusloi and e,0,y tenant have been,
<br />are, and shall remain in full compliance with any eppl, cablc En, oonmentat Law.
<br />C'. I rustor shall unused, adcly uonfy Bmhe fl, iary if a release or threatened release of a Hazardous Substance Occurs on
<br />under or about dhc Property or there is a violation M any Lnvironmental La' concerning the Piop ir, In such an
<br />,vent ltu,loi shall thkc all necessary remedial action in accordance with arty luo,vonuscntal Lmv.
<br />D. Trustor shall immediately Houty B nefiaary in wr Y t as soon as l utoo, has reason to bclicvc that is nny pending
<br />or threatened inacsfigafion_ claim, in prtscediue relating to the release or threatened release of any Hazardous
<br />Substance m the violation of am I!mironmental I_a'_
<br />IN. CONDEMNATION. Trustor will co.e Beneficiary prompt notice of any pending or Ihreateucd action, by prnate of public
<br />cWidics to pufclmse at take any or all of the Property through condemnation, emuhenl domain, of airy other means_ T rustor
<br />authorizes Beneficiary m uhterxene in Tiust,r's name in any of the shave dc'ellbel actions or dams. liesdor assigns to
<br />Beneficiary the proceeds of anv award or claim for damages connected with a condemnation or other taking of all m' any
<br />par[ of Ilse Prtpoir, Such pit •cds shall be considered payments and will he applied Is prm'idd in this security
<br />Instillment I Ins assigunren[ f proceeds is ihject to the terms of any pfi rr mortgage, decd of trust, s cirri[} agrerrnend or
<br />other lien docunhenl.
<br />19. INSI; RAN(: F. Tivsuv shall keep Propctly intoned agaiusl loss by lire, hood, theft whd other hazards and asks reasonably
<br />associated with the Property due to its Ivpe and location This insurance shall be main (amed in the amounts and hot the
<br />periods dial Benefieiary r,,I p,. The inem'anec carrier proyidine the insuranec shall be chosen by Trustor ,subject to
<br />Reneliciary's apprncal. which shall not be unreasonably witrbi ld. If Dustor fails to maintain die coverage descnhed above.
<br />Bcnc ician uray, at Reneticivry's option. obtain coverage to protect Denefivary's rights in the Prnpeiny accnrdiug In the
<br />terns of this 9can'ity Instrument.
<br />All insulate policies and renewals shall he ameprablc to Relief ..sly and shall include a slandaid "mortgage clause" and.
<br />'here applicable loss payw clause" Dusmi .shall nwroa r -- �}ttIlIl1 T eficioq of cancellation tervinance, of the
<br />insurance. Bereft taiy shall lime the light to hold the polljk;,rl� t nlasvale. If Renefictary ,claws Tnrwor shall
<br />im niedia[el, tine to Beneficial, all receipts ofpaid prenriums%l��I j�waktidtics. Upon loss, I umo, hall ,,e immediate
<br />Hance I, the in urence cattle, and Beneficial} Henefiaerj ma3'iRtakc proof of loss it not made mniechafiih by l rustor.
<br />�/} -��
<br />(page 33 pt 4)
<br />_ a.i. ±rsa. r si urvx,i nh ✓:1J' F'.,, star Nr ih:-717 0D [Ck
<br />�r - C165(NE)
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