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<br />16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS.
<br />Except when prohibited by law, Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches
<br />any covenant in this Security Instrument. Trustor will also pay on demand any amount incurred by
<br />Beneficiary for insuring, inspecting, preserving or otherwise protecting the Property and Beneficiary's
<br />security interest. These expenses will bear interest from the date of the payment until paid in full at
<br />the highest interest rate in effect as provided in the terms of the Secured Debt. Trustor agrees to pay
<br />all costs and expenses incurred by Beneficiary in collecting, enforcing or protecting Beneficiary's
<br />rights and remedies under this Security Instrument. This amount may include, but is not limited to,
<br />attorneys' fees, court costs, and other legal expenses. This Security Instrument shall remain in effect
<br />until released. Trustor agrees to pay for any recordation costs of such release.
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<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1)
<br />Environmental Law means, without limitation, the Comprehensive Environmental Response,
<br />Compensation and Liability Act (CERCLA, 42 V.S.C. 9601 et seq.), and all other federal, state and
<br />local laws, regulations, ordinances, court orders, attorney general opinions or interpretive letters
<br />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
<br />contaminant which has characteristics which render the substance dangerous or potentially dangerous
<br />to the public health, safety, welfare or environment. The term includes, without limitation, any
<br />substances defined as "hazardous material," "toxic substances," "hazardous waste" or "hazardous
<br />substance" under any Environmental Law.
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<br />Trustor represents, warrants and agrees that:
<br />A. Except as previously disclosed and acknowledged in wntmg to Beneficiary, no Hazardous
<br />Substance is or will be located, stored or released on or in the Property. This restriction does not
<br />apply to small quantities of Hazardous Substances that are generally recognized to be appropriate
<br />for the normal use and maintenance of the Property.
<br />B. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every
<br />tenant have been, are, and shall remain in full compliance with any applicable Environmental
<br />Law.
<br />C. Trustor shall immediately notify Beneficiary if a release or threatened release of a Hazardous
<br />Substance occurs on, under or about the Property or there is a violation of any Environmental
<br />Law concerning the Property. In such an event, Trustor shall take all necessary remedial action
<br />in accordance with any Environmental Law.
<br />D. Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe
<br />there is any pending or threatened investigation, claim, or proceeding relating to the release or
<br />threatened release of any Hazardous Substance or the violation of any Environmental Law.
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<br />18. CONDEMNATION. Trustor will give Beneficiary prompt notice of any pending or threatened action,
<br />by private or public entities to purchase or take any or all of the Property through condemnation,
<br />eminent domain, or any other means. Trustor authorizes Beneficiary to intervene in Trustor's name in
<br />any of the above described actions or claims. Trustor assigns to Beneficiary the proceeds of any award
<br />or claim for damages connected with a condemnation or other taking of all or any part of the Property.
<br />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,
<br />security agreement or other lien document.
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<br />19. INSURANCE. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards
<br />and risks reasonably associated with the Property due to its type and location. This insurance shall be
<br />maintained in the amounts and for the periods that Beneficiary requires. What Beneficiary requires
<br />pursuant to the preceding sentence can change during the term of the loan. The insurance carrier
<br />providing the insurance shall be chosen by Trustor subject to Beneficiary's approval, which shall not
<br />be unreasonably withheld. If Trustor fails to maintain the coverage described above, Beneficiary may,
<br />at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according to the
<br />terms of this Security Instrument.
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<br />~ (pag~)
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<br />@1994 Woltars Kluwar Financial Service. - Bankers SystemS'M Form USAAREDT -NE 6/15/2007
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