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<br />14. DEFAULT. Trustor will be to 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 term, 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 an event of default.
<br />15. REMEDIES ON DEFALAU. In some instances, federal and state 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, irony, Reneftenny shay accelerate the Secured Debt mid foreclose this Security Instrunent in a rnmuter provided
<br />bylaw 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 o default or anytime thereafter.
<br />In addition, Beneficiary shall be entitled to all the remedies provided by law, the terns 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 the Property as a whole or in separate parcels at public auction to the highest bidder for cash and convey absolute
<br />title free mid clear of all right, title and interest of Trstor at such time and place as Trustee designates. Trustee shall give
<br />notice of sale including the time, terms and place of sale and a desa'ipLion of the property to he 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, Trustee 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 and costs, shall pay to Beneficiary
<br />all moneys advanced for reports, taxes, insurance, liens, assessments and prior encumbrances mid 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 />The recitals in any deed of conveyance shall he prima facie evidence of the facts set forth therein.
<br />All remedies are distinct cumulative and not exclusive, and the Beneficiary is entitled to all remedies provided at law or
<br />equity, whether or not expressly set forth. 'f he acceptance by Beneficiary of any sum in payment or partial payment on the
<br />Secured Debt arm the balance is due or is accelerated or after foreclosure proceedings are Bled shall not constitute a waiver
<br />of Beneficiary's right to require complete cure of ary existing default Ry 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 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 expenses will bear interest from the date of the
<br />payment until paid in frill 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 in collecting, enforcing or protecting Reacrimary's rights and
<br />remedies 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) Environmental Law
<br />means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42
<br />U.S.C. 9601 et se¢), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general
<br />opinions or interpretive letters concerning the public health, safety, welfm'e, environment or a hazardous substance; and (2)
<br />Hazurdous Substance means any toxic, radioactive or lazardous material, waste, pelluant or contaminant which has
<br />characteristic which render the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br />environment. The term includes, without [initiation.. any substances defined as " hazardous material," "toxic substances."
<br />"hazardous waste" or " hazadous substance" under any En,honmenlal 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 to 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 maintenance of the Property.
<br />B. Except as previously disclosed mid 'acknowledged is writing to Beneficiary, Trustor and every tenant have been,
<br />are, and shall remain in full compliance with any applicable Environmental Law_
<br />C. Trustor shall immediately notify Rcncficiary if o release or threatened release of a Hazurdous Substance occurs on,
<br />under or about the Property or there is a violation of may 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- I mstor ,]hall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there 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 Environmental Law,
<br />19. CONDEMNATION. T rustor 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, comical domain, or any other means_ Trustor
<br />authorizes Beneficiary to intervene in Tmstor's name in any of [lie 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 />Instrument This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or
<br />,,that lieu document.
<br />19. INSURANCE. 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 and location. This insurance shall be maintained in the amounts and for the
<br />periods that Beneficiary requires. 1 he insurance carrier providing the insurance shell be chosen by Trustor subject to
<br />Reneficim'y's approval, which shall not be unreasonably withheld- If truster 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 of tits Security Instrument.
<br />All Insurance policies and renewals shall be acceptable to Rereficimy 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 />insurance. Beneficiary shall have the right to hold the policies and renewals. -I€ Bcmifictary requires, Trustor shall
<br />immediately give to Beneficiary all receipts of paid premiums and-renewal notices. Upon to @s, Trustor shall give immediate
<br />notice to the insurance carrier and Beneficiary. Beneficiary may make proof of Inss if ram w le immediately by Trustor.
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<br />CC165(okns9 is. NC. 9L Co,, Mla f�A0039r - Ill 11 F "m PFOT NE 02 97
<br />®® C186(NE) meoeov
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