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20070S1t)~ If there is a default. Trustee shall. in addition to any other permitted remedy, at the request of the Beneficiary. advertise and sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash and convey absolute title free and clear of all right, title and interest of Trustor at such time and place as Trustee designates. Trustee shall give notice of sale including the time, terms and place of sale and a description of the property to be sold as required by the applicable law in effect at the time of the proposed sale. Upon sale of the Property and to the extent not prohibited by law, Trustee shall make and deliver a deed to the Property sold which conveys absolute title to the purchaser. and after first paying all fees. charges and costs. shall pay to Beneficiary all moneys advanced for repairs, taxes, insurance. liens. assessments and prior encumbrances and interest thereon. and the principal and interest on the Secured Debt. paying the surplus, if any, to Trustor. Beneficiary may purchase the Property. The recitals in any deed of conveyance shall be prima facie evidence of the facts set forth therein. All remedies are distinct, cumulative and not exclusive. and the Beneficiary is entitled to all remedies provided at law or equity, whether or not expressly set forth. The acceptance by Beneficiary of any sum in payment or partial payment on the Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Beneficiary's right to require complete cure of any existing default. By not exercising any remedy on Trustor's default, Beneficiary does not waive Beneficiary's right to later consider the event a default if it continues or happens again. 16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law. Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches any covenant in this Security Instrument. Trustor will also pay on demand any amount incurred by Beneficiary for insurin~. inspecting, preserving or otherwise protecting the Property and Beneficiary's security interest. These expenses will bear mterest from the date of the payment until paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt. Trustor agrees to pay all costs and expenses incurred by Beneficiary in collecting. enforcing or protecting Beneficiary's rights and remedies under this Security Instrument. This amount may include. but is not limited to. attorneys' fees, court costs. and other legal expenses. This Security Instrument shall remain in effect until released. Trustor agrees to pay for any recordation costs of such release. 17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section. (1) Environmental Law means, without limitation. the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42 V.S.C. 9601 et seq.). and all other federal. state and local laws. regulations, ordinances, court orders, attorney general opinions or interpretive letters concerning the public health, safety. welfare, environment or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste. pollutant or contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public health, safety. welfare or environment. The term includes, without limitation, any substances defined as "hazardous material." "toxic substances," "hazardous waste" or "hazardous substance" under any Environmental Law. Trustor represents, warrants and agrees that: A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is or will be located, stored or released on or in the Property. This restriction does not apply to small quantities of Hazardous Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property. B. Except as previously disclosed and acknowledged in writing to Beneficiary. Trustor and every tenant have been, are, and shall remain in full compliance with any applicable Environmental Law. C. Trustor shall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance occurs on, under or about the Property or there is a violation of any Environmental Law concerning the Property. In such an event, Trustor shall take all necessary remedial action in accordance with any Environmental Law. D. Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is any pending or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous Substance or the violation of any Environmental Law. 18. CONDEMNATION. Trustor will give Beneficiary prompt notice of any pendin~ or threatened action, by private or public entities to purchase or take any or all of the Property through condemnation, emment domain. or any otlier means. Trustor authorizes Beneficiary to intervene in Trustor's name in any of the above described actions or claims. Trustor assigns to Beneficiary the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of the Property. Such proceeds shall be considered payments and will be applied as provided in this Security Instrument. This assignment of proceeds is subject to the terms of any prior mortgage. deed of trust, security agreement or other lien document. Ex68i'eo _ '994 Bankers Systems. Ine.. St. Cloud. MN Form USB.REDT-NE 9/4/2001 (page 4 of 6) 13149303