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200807950
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200807950
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Last modified
9/16/2008 4:13:51 PM
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9/16/2008 4:13:51 PM
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DEEDS
Inst Number
200807950
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<br />200807950 <br /> <br />B. Upon the occurrence of any factors set forth in subparagraph B.(1) and/or <br />B.(2) hereunder, Lender shall have the right to require Borrower, at the sole cost and expense <br />of Borrower, to employ a qualified independent environmental auditor, acceptable to Lender, <br />to conduct an environmental audit ofthe Property to determine whether there is any asbestos <br />or Hazardous Material above, in, on, under, from or around the Property, such that the <br />Property, any activity related to the Property or the Hazardous Materials is subject to <br />regulation under Environmental Laws. Lender shall instruct such auditor to conduct such <br />audit in such a manner as to minimize interference with the operation of the Property. <br /> <br />(1) at any time that Lender reasonably suspects the presence of asbestos <br />or Hazardous Materials subject to regulation under Environmental Laws, in, on, <br />under, from or around the Property (except with respect to any Hazardous Materials <br />used in the ordinary course of business of the Property, with respect to which use <br />there has been no violation of Environmental Laws); or <br /> <br />(2) upon and after any Event of Default hereunder. <br /> <br />15. Miscellaneous Provisions. <br /> <br />A. Borrower not Released. Extension of the time for payment or modification <br />of amortization of the sums secured by this Deed of Trust granted by Lender to any <br />successor in interest of Borrower shall not operate to release, in any manner, the liability of <br />the Borrower. <br /> <br />B. Lender's Powers. Without affecting the liability of any other person liable <br />for the payment of any obligation herein mentioned, and without affecting the lien or charge <br />of this Deed of Trust upon any portion of the Property 110t then or heretofore released as <br />security for the full amount of all unpaid obligations, Lender may, from time to time and <br />without notice (1) release any person so liable, (2) extend the maturity or alter any ofthe <br />terms of any such obligations, (3) grant other indulgences, (4) release or reconvey, or cause <br />to be released or reconveyed at any time at Lender's options any parcel, portion or all of the <br />Property, (5) take or release any other or additional security for any obligation herein <br />mentioned, or (6) make compositions or other arrangements with debtors in relation thereto. <br /> <br />C. Forbearance by Lender not a Waiver. Any forbearance by Lender in <br />exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not <br />be a waiver of or preclude the exercise of any such right or remedy. The procurement of <br />insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver <br />of Lender's rights to accelerate the maturity of the indebtedness secured by this Deed of <br />Trust. <br /> <br />D. Successors and Assigns Bound: Joint and Several Liability: Captions. The <br />covenants and agreements herein contained shall bind, and the rights hereunder shall inure <br /> <br />Page 8 of 12 <br />
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