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<br />14. DEFAULT. 'Iristor will be in default if any party obligated on the Secured Debt fails to make payment when due. Trustor
<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 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 m event of default.
<br />15. REMEDIES ON DEFAULT. In some instances, federal mid state law will require Beneficiary to provide Truster 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 may accelerate the Secured Debt and foreclose this Security Instrument tut a manner provided
<br />by law if�Cmstor is in default.
<br />AL [tic option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall become
<br />immediately due and payable, after giving notice if required by law, 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 without limitation, the power to sell the Property _
<br />If there is a default, Trustee shall, in addition Lo any other permitted remedy, at the request of the Beneficiary, advertise
<br />end sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash and convey absolute
<br />title free and clear of all right, title and interest of "frustor at such time acid place as 'I rustee designates. Trustee shall give
<br />notice of sale including the time, terms and place of sale and a description of the property to be sold as required by the
<br />applicable law in effect at the time of the proposed sale.
<br />Upon sale of the property and to the extent not prohibited by law, 'I rustee shall make and deliver a deed to the Property
<br />sold which savoys retiree no title to the purchaser, and alter first paying all fees, charges and costs, shall pay to Beneficiary
<br />all moneys advanced for repairs, taxes, insurance, liens, assessments and prior encumbrances and interest thereon, and the
<br />principal and interest on the Secured Debt, paying the surplus, if any, m
<br />to Tstor. Beneficiary may purchase the Property.
<br />The recitals in any deers of conveyance shall be pruna facie evidence of the facts set forth therein.
<br />All remedies are distinct, cunulative and not exclusive, and the Beneficiary is entitled to all remedies provided at law or
<br />equity, whether or not expressly set forth. The acceptance by Beneficiary of any sam in payment or partial payment on the
<br />Scoured Debt after the balance is due or is accelerated on after fercclomrc proceedings are filed .shall not constitute a waiver
<br />of Beneficiary's right to require complete cure of any existing default. By not exercising any remedy on Truster' a 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, 'frustor agrees to pay all of Beneficiary's expenses if Trustor breaches any covenant in this Security
<br />Instrument_ Trustor will also pay on demand any amount incurred by Beneficiary for insuring, inspecting, preserving or
<br />otherwise protecting the Property and Beneficiary's security interest. These cxpensca will bear interest from the date of the
<br />payment until paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt. Trustor agrees
<br />to pay all costs and expenses incurred by Beneficiary to collecting, enforcing or protecting Beneficiary's rights and
<br />remedies under this Security Instrument. This anomit may include, but is not limited to, attorneys' fees, court costs, and
<br />other legal expenses. this Security Instrument shall remain to effect until released. Trustor agrees to pay for any
<br />recordation costs of such release.
<br />17. EN'VIRONMEN'TAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
<br />means, without limitation, the Comprehensive Fnvironmental Response, Compensation and Liability Act (CLRCLA, 42
<br />U.S.C. 9601 et seq.), mid all other federal, slate mid local laws, regulations, ordinances, court orders, attorney general
<br />opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2)
<br />Hazardous Substance means any toxic, . radioactive or hazardous material, waste, pollutant or contaminant which has
<br />characteristics which render the substance dangerous or potentially daigerous to the public health, safety, welfare or
<br />environment the term includes without limitation, any substances defined as "hazardous material," "toxic substances,"
<br />"hazardous waste" or " hazardous substance" under any Fnvironmental Law.
<br />Trustor represents warrants and agrees that
<br />A- Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is or will be
<br />located, stored or released on or in the Property. This restriction does not apply to small quantities of hazardous
<br />Substances that are generally recognized to be appropriate for the normal use mid uraintenance of the Property.
<br />B. Except as previously disclosed mid acknowledged in writing to Beneficiary, Trustor and every onant have been,
<br />are, mid shall remain in full compliance with any applicable Lnvironmental Law.
<br />C Trustor ,,hall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance occurs on,
<br />wider or about the Property or there is a violation of any Environmental Law concerning the Property. In such an
<br />event. Trustor shall take all necessary remedial action in accordance with any Environmental Law.
<br />D. Toaster shall immediately notify Beneficiary in writing as soon as Tractor has reason to believe there is city 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 Environmental Law,
<br />18. CONDEMNATION. Truster 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 Property through condemnation, eminent domain, or wry other means. Truster
<br />authorizes Beneficiary to intervene in Trustor's name in any of the above described actions or claims. Tmstor assigns to
<br />Beneficiary the proceeds of any award or claim for damages manceLei with a condemnation or other taking of all or any
<br />part of the Property. Such proceeds shall be considered payments mid will be applied as provided in this Security
<br />Instrument this assignment of proceeds is subject to die terms of any prior mortgage, deed of trust, security agreement or
<br />ether lien document.
<br />19. INSURANCE. Trustor shall keep Property insured against Inns by fire, Flood, theft and other hazards and risks reasonably
<br />associated will, the Property due to its type mid 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 shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above_
<br />Beneficiary may, al Beneficiary's option, obtain cu comp, to protect Beneficiary's rights in the Property according to the
<br />teens of this Security Instrument.
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" mid,
<br />where applicable, "loss payee clause_" Trustor shall immediately notify. Beneficiary of cancellation or termination of the
<br />ins ounce. Beneficiary shall have the right to hold the policies and romwalp. If Beneficiary requires, Truser shall
<br />immediately give to Beneficiary all receipts of paid premiums and renewal notices: Upon loss, Trustor shall give immediate
<br />notice to the insurance carrier and Beneficiary. Beneficiary may make-pronC of (oas if nut made immediately by
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