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20020766
<br />ia. DEFAULT. Trustor will be in default if any party obligated on file Secured Debt fails w make payment when due. Trustor
<br />will be in default if a breach occur, under the teen, of this Security In,n'ument or any other document executed for the
<br />pmlio'e of creating, securing ..r guarantying the Secured Debt. A good faith belief by Bcncficiary that Beneficiary at any
<br />lime is insecure with respect ro any person or eelny obligated on the Seared Debt of that the prospect of tiny payment nr
<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 law will require Bel eficiiny to provide Trustor ,'rill
<br />notice of the right to cure or other nolices and map e.,tahloh Ilene schedules ter foreclosure actions. Subject to these
<br />limitations, it any, Benelician may accelerate the Secured Debt and fucelose this Security Instrument In a manner provided
<br />by law if Trustor is In default
<br />At the option of Beneficiary, all or any part of the agreed fees and charges, accrual interest and principal shall heconre
<br />immaliatcly due and payable, after giving notice If required by law. upon the occurrence of defaull or Equine thereafter_
<br />In addition, Bcncficiary shall be entitled to all the ¢needles provided by law, the 'erns of the Secured Debt. this Security_
<br />Instrument and any related documents. including n'ithout limitation. the power to sell the Property _
<br />If thee, is a default l "nnstee shall, in addition to any other perinitted lencdy, at the request of the Beneficiary, adveirse
<br />and ,cll the P'opert, a, a whale or ut separate parcels at public auction to the highest bidder for cash and convey ahsohne
<br />title free aid clear of all Ifeltl, title and intcresl cI frusta' at such lime and place as t rustee designate Trustee shall give
<br />notice of sale including the nine. terms and place of sale aid a deseciption of the properly us be sold as required by the
<br />apnli cab Ic tau" in effect at the Hine oflIle proposed sale.
<br />I:pon sale of die property and to the extent nor prohibited by Imv_ Trustee ,hall make and dchvcr a deed to the Property
<br />sold o hrch conveys absolute title to the purchaser, and aller fast paying all fees, charges and costs. shall pay to Bcncficiary
<br />all moneys advanced ka repairs_ tlr c.. in.also c liens, assessments and prior encumbraices and interest fheteou, and the
<br />principal and interest nu the Secured Debt, paying, Ilse surplus, if any. m T icatnr_ Beneficiary may purchase the Property.
<br />The recitals in any deed of ccaveyance shall be prima tack evidence of the facts set forth thcrcin.
<br />All rcmedre, are di,tinct, cumulative and not exclio,e, and the Beneficiary is entitled to all remedies provided at Imv or
<br />equity, whether or not expressly .set forth. The acceptance by Bcncficiary of any sum in payment or partial payment on the
<br />Secured Leh( after the balance is due it is accelerated or after Ioreclosure proceedings are fled shut] nor constitute a ixa,ci
<br />of Bcn fciary's right In require complete cure of any existing default By not exercising any remedy on Tiustor's default,
<br />Beneficiary does not wmiac Beneficiary's light to later consider the event a default if it coon .... c, or happens again_
<br />16. FXPENSFSp ADVAN('EN ON COV@NANIS; A'1 "1'ORNEYS' FEES; COLLECTION COSTS. Lsecpl when
<br />prohibited by Imv. Trust, aerces to pay all of Rrnef vin's . expenses If Irus[or bleaches e "nv covenant in this Scantly
<br />Instrument. Trustor will alst pry il demand any amount incurred by Bcncficiary for In cuing, inspecting preserving or
<br />othenvi,e protecting the Property and Beneficiary's security intere.vt. 'fhe.se expenses will bear inlclear from the date of the
<br />payment until paid in full at the highest interest rate ill effect as provided in the tortes of the Secured Debt fluster agrees
<br />to pay all costs and expenses uncalled by Benelinany ill collecting_ enforcing or protecting Beneficiary's rights and
<br />rcmehcs under this Security Instrument ibis amount may include, but is not limited to. auorncys fees_ count cost,, and
<br />other legal expenses. This Sccunty Instrument shall remain in effect until rcicased_ 'Iloilo, agrees' to pay for any
<br />rcarrdotion costs of "such release.
<br />17. ENNTRONMENTA1, 1, ANN S AND IIAZARDOI S S RS'1'ANOES. A, used un this section. (I) L'nvinnunental Lam
<br />mcan,. 'ol ..... I lunnat.om the Comprehensive Fntuou nenlal Response, Compensatlon and 1,,shility Act if FR( 'LA_ 41
<br />U SA . 9001 cl acq ) , and ell other @dm'al_ state and local laws, regulations, ordinances, court orders, aluilley general
<br />opinions or interyreloe let(., concerning the public health_ safety, welfare . environment or a hazardou..ubslancc: and ( 2)
<br />hazardous Substance means any toxic, radioadlvc or hazardous nmlelial. waste. pollutant or contaminant which has
<br />churadcrislics which render Ih, ti.hslancc dangerous a potentially dangerous to the public health safety, welfare on
<br />cnvinnuuent. The term incl Ides. without huntutiui. any nlbvlenece defined as "hazardous malerial_' "toxic wbstance,,"
<br />"haeardou, waste" ,, "hazardoa, suhstance" under am Bnvi ... oriental 1 "ass.
<br />Tnnaoi represent, warrant, and sgr,cs that
<br />A- Bscepl as previous]}' disclosed and acknowledged in wiling to Benckciary, no Hazardous Substance is or will he
<br />locatedt stored or released on or in the Property. 'Phis restriction does not apply to sin,l] quantities of Hazanlou,
<br />SubAlinees Thal arc gceci ally recognized to he appropnale for the normal use and maintenance of the Property.
<br />B. 1 ,cpt as pic,oc,ly i i,clo "d sad acknmi -0edged in wrinig m Beneticiap, Trustor and every teuail have been,
<br />at and shall remain in 11tH compliance is ith any applicable Env it nccntal I ace.
<br />(. Trusor shall inn..cilswly iotity Beneficiary it o rclease or threatened release ofa Hazardous Substance occur, on.
<br />under or about the Property ur there is a ilnla0on of any I nyironmenfal Lain concerning the Properly, In Such an
<br />event. Tr unto' shall take all uccc „ary remedial action in accordance rvoh anv Fmironme ntal I ace_
<br />I7. l rusfor shall immediately nolill' Bcncficiary in xi-mr as .soon as Tnr,hu has reason to helie,c ds,re is anv pending
<br />o' threatened inve,ng 'ion. dorm, or proceeding tetanal to the rclease or Ihieatta al rclease of any hazardous
<br />Substance or the violation of anv Fr,uonmen is Law.
<br />19. CONDEMNATION. l u stor will give Beneficiary prompt notice ofauy pending or Ihicalmred action, by private or public
<br />entities In purchase or take any or all of the Property through condenuration, eminent domain, of any other means. Trustor
<br />authorizes Beneficiary to onervcnc ill Trustor s ,uric in any of the ah,ee de,crihed actions or 1sun I twin' a,up, to
<br />Beneficiary the proceeds of any award el claim nor damage, connected with a condemnation of offer taking of all o' any
<br />part of the Property Such pr ends shall be oo,ideied payments and till he applied as provided in this Sneunty
<br />Instrument fit is ....gninent o pr aced, is subject to the lcrm, orf any psi u mortgage deed if trust, security agreement or
<br />other lien dconnenl.
<br />19. INS(RAN(I' Ii',tor shall k,-, Property ii,toccl agaiuvt I,, by hrc. hood, thcll and odic' hazard, and Iisk, reasonably
<br />associated with the Property due to in type and Incanou this insurance sIi,II be maintained in the amount, and for the
<br />periods' that Beneficiary require,. The insurance carrier proytding the in.,m'ance shall he dnosen by linstor subject to
<br />Bcnetimari's c),ru” A' icleh shall nal he ',reason ahly withheld_ 11 J,ustar fails to mountain the coverage described above.
<br />Bane Gciap' uwy. al Beudic iary's option. ,Main ,overage to p'o2a Denerl.. rights in the Property occotdiug to the
<br />fenny of Ibis Security h"Humcnt.
<br />VI Insurance policies and ten tick shall be acceptable to Beneficiary and shall indude a standard "mortgage clause" and.
<br />whoa applicable "loss pay,, clause_" Trustor shall unmediafely notify Beneficiary of eancellatiui or ferminahnn of the
<br />ut ,ran e. Benehelap shall hair the right to hold the pohcic, and nertmaN. It Benehua) regiue "frnstot shall
<br />unmedictely gee to Tlencfict uv all receipts t paid pieh�?uins and renewal notices I}'you lost. flm,l..r shill Yne inmic(liale
<br />nohee to the in lJoince carrier and Bcncficiary Bcuefici@yy may make pro rl of l..u_ifi not mace ourocc at h I- Truster.
<br />(Pa9e 3 of 4)
<br />fl".a .o -DE -. c'n qC Lr 11 1 Ub/
<br />®0 0165isE) se
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