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<br />14. DEFAULT. 'frustor will be in default if any party obligated on the Secured Debt fails to make payment when due. Trustor
<br />will he in default if is breach occurs under the terms of this Security Instrument or any other document executed fur the
<br />purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at any
<br />time is 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 constitute an event of default.
<br />15, REMEDIES ON DEFAULT. In some instances. federal and stale law will require Beneficiary to provide Trustor 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. Beneficiary ,nay accelerate the Secured Debt and foreclose this Security instrument in a manner provided
<br />by law if Truslor 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 />iurnediately due and payable, after giving notice if required by Inv, 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 wittout limitation, the power to sell the Property.
<br />If there is a default, Trustee shall, in addition to any other permitted remedy, at the requcsl of the Beneficiary, advertise
<br />and sell the Property as o whole or in separate parcels at public aucti on to the highest bidder for cash and convey absolute
<br />title free and clear of all right, tiit c and interest of Trustor at such time mid place a., Trustee designate, Trustee shall give
<br />notice of sale including the time, terms and place of cde and a descn'ipfion of the property to be sold as required by the
<br />applicable low in effect at the time of the proposed sale.
<br />Upon sale of the property and to the extent not prohibited by Imv, 'I rustee shall make and deliver a deed to the Property
<br />sold which conveys absolute title to the purchaser, and after first paying all fees, charges card costs, shall pay to Beneficiary
<br />all moneys advanced for repair, taxes, nesmanee. liens, assessments and prior encumbrances and interest thereon" and the
<br />principal and interest on the Secured Debt, paying the surplus, if any, to Trustor- Renefciary may purchase the Property.
<br />The recitals in mry deed of conveyance shall be prima facie evidence of the facts set for therein.
<br />All remedies are distinct. cnmulah,c and nut cxclu,lve, mid the Beneficiary is entitled to all remedies provided at law or
<br />equity, whether or not expressly set Furth. The acceptance by Benefic rl y of any sum in payment or partial payment on the
<br />Secured Debt after the balance is due or is accelerated or after for.b sure proceedings are fled shall not constitute a waiver
<br />of Beneficiary's right to require complete cure of any existing default. By not exercising any remedy on Trustor's default.
<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, Trustor agrees to pay all of Bureficim,'s expenses if truster: breaches any covenant in this Security
<br />Instrument Truster will also pay on demand any amount incurred by Beneficiary for insuring, inspecting, preserving or
<br />olhervlse protecting the Property and Beneficiary's security interest. These expenses will bear interest from the date of the
<br />payment until paid in fill at the highest interest rate in effect as provided in the terns of the Secured Debt, Trustor agrees
<br />to pay all costs and expenses incurred by Beneficiary in collecting, enforcing or protecting Reneficiary's rights mid
<br />remedies under [his Security Instrument This amount may include, but is not limited to, attorneys' fees, court costs, and
<br />other legal expenses. This Security Instimucut shall remain in effect until released_ Truster agrees to pay for any
<br />recordation costs of such release.
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Fnvirnnmental Law
<br />mean". without limitation the Coniprehenervc 1!muoumental Response. Compensation and Liability Art (CERCLA, 42
<br />U.S.C. 9601 et seq_y and all other faha.l, state slid local laws. regulations, ordinances. court orders, attorney general
<br />eptmmns m interpretive leters concerting the public health. safety, welfare, environment or a hazardous suhstanec; and (2)
<br />Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollmnd or cnntarninar t which has
<br />characteristics which reader the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br />environment The term includes, without limitation. any substances defined as "hazardeus material," "toxic substances,"
<br />"hazardous waste" or "hazardous substance" under any Fnvimnmcuts] I xw.
<br />Trustor represents, wurrants and agrees that
<br />A. Except a, previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is on will be
<br />located, stored or released on or in the Property. Thin restriction does not apply to small quantities of Ilazardous
<br />Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property_
<br />B. Except es previously it i so] osed and acknowledged in writing to Beneficiary, Trustor and every tenant have been,
<br />arc, . and shall remain in full compliance with any applicable Environmental Law.
<br />C. Truslor shall immediately notify Beneficiary if a release or threatened release of u Hazardous Substance occurs on,
<br />under or about the Properly or there is a ciolalio i of any Environmental Law concerning the Propolty f l such an
<br />event, Truster shall take all necessary remedial action in accordance with any Firs it onncnlal Law.
<br />D. Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason Io believe Iheae 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 Environrnenlal Law.
<br />13. CONDEMNATION. 7 mstor 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 the Properly through condemnation, eminent domain. or any other means. Trustor
<br />authorizes Reneficiary to intcneue in Trustor'.s nature in any of the above described actions or claim,. Trustor assigns to
<br />Beneficiary the proceeds of any award or claim for damages connected wilh a condemnation or outer taking of all or any
<br />part of the Property . Ruch proceed, shall he considered pigments and will be applied as provided in this Security
<br />Instrument. This assignment of proceeds is subject to the terms of any prim mortgage, decd of trust. security agreement or
<br />other lien document_
<br />19. INSURANCE. Trustor shall keep Property insured ngain,l loss by Inc, flood, theft and other hazards and risks reasonably
<br />associated will, the Property duc to its type and location. This insurance shall be 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 shell not be unreasonahly withheld If Trustor fails to maintain the coverage described above.
<br />Beneficiary may at Beneficiary's option obtain coverage to protect Beneficiary's rights in the Property according to the
<br />terms ofthis Security Instrument.
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" mod
<br />where applicable, "loss payee clause"" Trusmr shall immediately notify Beneficiary of cancellation of termination of the
<br />insurance. Beneficiary shall have (lie right to hold the policies and renewals_ If Beneficiary requires, Trustor shall
<br />inunediately goc to Beneficiary all receipts of paid premiumsand neemosal notice, Upon -lei Trustor shall give immediate
<br />nonce to the insurance carrier and Beneficiary. Beneficiary 11tAq make proof of losa ifnofmade immediately by Trustor_
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