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<br />14. DEFAULT. Trustor will be in default if any party obligilted on the Secured Debt fails to make payment when due. Trllstor
<br />will be in default if a breach OCCIlrS under the lenllS of this Security Instrument or any other document executed for the
<br />purpose of creating, securing or guarantying the Securell Debt. A gnod faith belief by Beneficiary that Beneficiary at any
<br />titlle is insecure with respect to any person or entity obligated on the Secllred Debt or that the prospect of ilny paYlllent or
<br />the value of the Property is impaired shall also constitute an evcnt of default.
<br />15. REMEDIES ON DEFAULT. In some instanccs, federal allll state law will require Bcneficiary to provide TlllStor wilh
<br />notice of the right to cure or other notices and Illay establish time schedules for foredosme actions. Subject to these
<br />limitations, if any, Beneficiary may accelerate the Secmed Debt and foreclose this Security Instrument in a manner
<br />provided by law if Trustor is in default.
<br />At the option of Beneficiary, all or any part of the agreed fees ilnd charges, accrued interest and principill shall become
<br />immediately due and payable, after giving notice if required hy l:lw, upon the occurrence of a default or anytimc
<br />thereafter. In addition, Beneficiary shall be entitled to all lhe remedies provided by law, the tenllS of the Secnred Deht,
<br />this Security Instrument illHl any related documents, including without limitation, the power to sell the Property_
<br />If there is a default. Trustee shall, in addition to any ol\wr pennilled remedy, at the request of the Beneficiary, advertise
<br />alld scll the Property as a whole or in separate parcels at public auction 10 the highest hidder for cash and convey absolute
<br />title free ami c1eilr of all right, title -1tndUlteresu~f Tl'-YstOl' at -stich lime and -place as Tmsffie 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 til\\! ill effect at tlleTlnieiTflhe proposed SilJe. . - - --
<br />Upon sale of the Property and 10 lhe 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
<br />Beneficiary all moneys advanced for repairs, laxes, insurance, liens, assessments and prior encllmbrances and interest
<br />thereon, and the principill and interest on the Secured Debt, paying the surplus, if allY, to Trustor. Beneficiary may
<br />pmchase lhe Properly. The recitals in any deed of conveyance shall be 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 nol expressly set forth. The acccptance by Beneficiary of any sunl ill payment or partial pilyment Oil the
<br />Secured Debt after the balance is due or is acce\emled or after forecloSll1'e proceedings are filed shall not constitule a
<br />waiver of Beneficiary's right to require complete cure of any existing default. By not exercising any remedy on Trustor's
<br />default, Beneficiary does not waive Beneficiary's righlto laler consider thc cvent a default if il continues or happens again
<br />16. EXPENSES; ADVANCES ON COVENANTS; A'l'TOnNEVS' FEES; COLLECTION COSTS. Except wheu
<br />prohibited by law, Trustor agrees to pay all of Beneficiary's expenses if Trustor hre:lches any covcnilnt in this Security
<br />Inslnllllent. Trustor wilt :llso pay ou dell1:lnd any alllount incuITed by Beneficiary for inslll'ing, inspccting, preserving or
<br />otherwise protecting the Properly and Bencficiary's secnrity inlerest. These expenses will bear interest from the date of the
<br />payment until Ilaid in full at the highest interest rate in effect as provided in the terms of the Secured Deht. Trustor agrees
<br />to pay all costs and expenses incllrred by Bcneficiary in collecting, enforcing or protecting Beneficiary's rights aud
<br />remedies under this Security Instrument. This alllllllllt may include, hut is not limited to. allorneys' fees, comt costs, and
<br />olher legal expenses. This Security Instrument shall remain in effect until released. Trustor agrees to pay for any
<br />recordation costs of such release.
<br />I 17. ENVIRONMENTAL LAWS AND IIAZARBOlJS SUBSTANCES. As used in this section, (1) Envinmmelltal Law
<br />r---- IllmffiS, without limitation, the-COllljJldlt:lIsive Envinmmentat-fuspunse, (;ompensatmn and Liability Art-tEERC1:;ft-;--:tZ-
<br />U.S.c. 9601 et seq.), and all other federal, state and local laws, regulillions, ordinances, court orders, attorney general
<br />opinions or interpretive \ellers cUllcerning the public health. safety, welfare, ellvirunment ())' a hal-anlous subst:lllce; and (2)
<br />Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollulant or contaminant which has
<br />characteristics which render the substance dangerous or potentially dangcrous to the public health, safely, wel fare or
<br />environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substances,"
<br />"hazardous waste" or "hazardous substance" under any Envinlnnwntal I _aw.
<br />Trustor represents, warrants and agrees that:
<br />A, Except as previollsly disclosed and acknowledged in writing to Beneficiary, no Hazardous Suhstance is or will he
<br />localed, stored or released on or in the Properly. This restriction does not apply to small qUilnlities of Jhzanlous
<br />Substances that are generally recognized to be ilpprnprialc for the normal use and maintenance of the Pmperty.
<br />B. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every ten<lnt have heen. are.
<br />and shall renmin in full compliance with any applicable Environmental Law.
<br />C. Trustor shall immediately notify Beneficiary if a release or threatened rclease of a Hazardous Substance occurs 011,
<br />undcr LH ahout Ihe Properly or there is a violation of any Environmental Law concerning the Property. In such an
<br />event, 'frnslor shall take all necessary remedial action in aceonJance with any Envirolllnental Law.
<br />D. Trustor shall 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 10 the release or t1ue;llened release of any Ila7.ardous
<br />Substance or the violation of any Environmental I ,aw_
<br />18. CONDEMNATI()N, Trustor will give Beneficiary prompt uotice of any pcnding or threatened action. by private or public
<br />entities to purchase or take any or all of the Property through coudemnation, eminent domain, or any other means. Trustor
<br />authorizes Beneficiary to intervene in Trustor's H<une in any of the above described actious 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 />~nstrull-lent.--Thisasshmnlgnt qf.proceeds is subject to the terms of any prior mortgage, deed of trust, security agreemcnt or
<br />other lien doeumenl. - - _ ___
<br />19. INSURANCE. Trustor shall keep Properly insured against loss by fire, Hood, theft and other hazards and risks reasonahly
<br />associated with the Property due to its type and location_ This insurance shall be Inaintained in the amounts and for the
<br />periods that Beneficiary requires. What Lendcr requires pursuant to Ihe prcceding sentence can change during the term of
<br />the loan, The insurance carrier providing the insllrance shall be chosen by Trustor subject to Beneficiary's approval, which
<br />shall not be unreasonably withheld. If Trustor fails to mailllain the coverage described above, Beneficiary llIi1Y, at
<br />Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Properly aceonling to the tenns of this Security
<br />Ins trument.
<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," 'frustor shall iunuedia(e1y tlOlify Benefiei:lry of e:lneellatioll or terminal ion of the
<br />insurance. Beneficiary shall have the right to hold (he policies and rencwals If Beneficiary requires, Trnstor shall
<br />immediately give to Beneficiary all receipts of paid premiums and renewal notices. {Jpou joss, T'rus(or shall give
<br />immediate notice to the insurance carrier and Benefici3ry _ Beneficiary IIl:lY make proof of loss if not nwde immediately by
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