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20020984a
<br />14. DEFAULT. Trustor 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 terns 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 flue 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 instance,, federal and state law will require Beneficiary to provide Trustor with
<br />notice of the right to cure or other notices raid 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 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, 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 />Ill 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 to any other permitted remedy, at the request of the Beneficiary, advertise
<br />and sell tire Property as a whole or in separate parcels at public auction to the highest bidder for cash and convey absolute
<br />title fret; and clear of all rigid, title mid interest of Trustor at such lime and place as Trustee designates. Trustee Shall give
<br />notice of sale including the nine, 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 mid to the extent not prohibited by law, Trustee shall make and deliver a deed to the Properly
<br />sold which conveys absolute title to tine purchaser, and after first paying all fees, charges and costs, shall pay to Beneficiary
<br />all money, advanced for repairs, lases, insurance, liens, assessments and prior encumbrances and interest thereon, and the
<br />In incipal and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiay may purchase the Properly.
<br />The recitals in any deed of conveyance shall he prima facie evidence of the facts set forth therein
<br />All remedies arc distinct, cumulative and nil 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 sum in payment or partial payment on the
<br />Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver
<br />of Beneficiary's right to require complete cure of tiny existing default. By not exercising any reaudy 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 Beneficiary's expenses if Trustor breaches any covenant in this Sccudly
<br />Instrument. Trustor will also pay on demand any amount incurred by Beneficiary for insuring, inspecting, preserving or
<br />otherwise protecting the Properly and Beneficiary's Security interest These expenses will hear interest from the date of the
<br />payment until paid in full at the highest interest rate in effect as provided in the tenns of the Secured Debt. TrusLLm agrees
<br />to pay all costs and expenses incurred by Beneficiary in collecting, enforcing or protecting Beneficiary's rights mid
<br />romedics under this Security Instrument. This amount may include, but is not limited to, attorneys' fees, court costs, and
<br />other legal expenses This Security Instrument shall remain in effect until released. Trustor agrees to pay for any
<br />recordation costs of such release_
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Envronmental Law
<br />means, without limitation, the Ccmprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42
<br />U.S.C. 9501 or .we.). and all other federal. state 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 />Ilazardous Substance means say toxic, radioactive or hazardous material, waste_ pollutant or contaminant which has
<br />characteristics which leader the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br />environment The term includes, without limitation, mry substances defined as "hazardous material," "toxic substances,"
<br />"hazardous waste" or "hazardous substance" under any Environmental Law_
<br />Trustm 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 nr released nn nr in the Property . This restriction does not apply to small quantities of Hazardous
<br />Substances that are generally recognized N be appropriate for the normal use and maintenance of the Property_
<br />B. Except as previously disclosed mud acknowledged in writing to Beneficiary, Truster and every tenant have been,
<br />are, and shall remain in full compliance with any applicable Environnental Law.
<br />C Trustor Shall immediately notify Beneficiary ifs release or threatened release of a Hazardous Substance occurs on.
<br />under or about the Properly 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. luster shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there iS sty pending
<br />or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous
<br />Substance or the violation of mry Environmental law.
<br />18. CONDEMNATION. Trustor will give Rcncficiary 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 any other means. Trustor
<br />authorizes Beneficiary to intervene in gl'ustor's name in any of the above described actions or claims. Trustor assigns to
<br />Beneficiary the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any
<br />part of the Property. Such Proceeds shall be considered payments and will be applied as provided in this Security
<br />I ... amneat phis assignment of proceeds is subject to the terms of any prior mortgage, deed of trust. security agreement 1;r
<br />other lien document
<br />19. INSI; RANCE. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably
<br />associated with the Property due to its type mid location. This insurance shall be maintained in the amounts and for the
<br />period, 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 mountain the coverage described above,
<br />Beneficiary may, at Beneficimy s option, obtain coverage to protecl 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" and,
<br />where applicable, "loss payee clause." Trustor Shall immediately notify Beneficiary of cancellation or termination of the
<br />insurance. Beneficiary shall have the right to hold. tilt "liglici and renewals. IC Beneficiary requires, Truslnr shall
<br />immediately al,c to Beneficiary all receipts of paid Pocam cis rid enewal notices. Upon loss, T nrstor Shall ghee immediate
<br />notice to the msumnce carrier and Beneficiary. Benefciay team a pwol of loss if not made immediately by Trustor.
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