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<br />14. DETAULT. Trustor will be in default if atay party obligated vu the Secured llcbt fails to make Lrnym(ul when duo. "I'rustur
<br />will he iu default if a breach occurs under the terms of this Sacuriry Llsrrunrant ur any other dacunrent axecutad for tlau
<br />purpose of creating, sacuriug or guarantying the 5ecurad Debt. A goad faith heliel' by 13ane1'iciary that l:3anaficiary at ~t.ny
<br />tinge is insecure wick respect. to auy person ar entity obligated ol) tha Secured Debt. or that Chc prospect of any payrrlcnl or
<br />the: value ol" the Prap~rty is unpaired shall also causlitutc an eveni: i)I' default.
<br />I5. REMEDIES ON DETAULT. In some instances, federal null stiua law will require Ban.efieiary to provide `frustar whit
<br />uatice of the right to cure ar other notices and may establish time schedules for foreclosure actions- Sub.juct to these
<br />liinitatiaus, if auy, Beneficiary may accelerate the Secured Debt and tbreclose this Saeurity Iustrunreut in a n)anuer
<br />provided by law if Trustor is iu default.
<br />At the option of Beneficiary, all or auy part of the agreed fees and charges, accrued interest and principal shall become
<br />irllmediately due and payable, at'ter giving uotrce if reyuircd by law, upon cite occurrauca ol" tt da~'ault or anyti.nru
<br />thereafter. Iu addition, Bcueficiary shall be entitled to all the t'arnedies providad by law, the farms of tha Sacurad ll~bl,
<br />this Security Instrument and any related documents, iucludiug without lirnita.tiou, the. power to sell the: Properly.
<br />If there is a default, 'Trustee shall, iu addition to auy other perrniltad remedy, at tl)e request of the 13eueficiary, advertise
<br />and sell the Property as a whole or in separate parcels af. public auction to t.ha Itigltast 1)idder for cash and convey absolute
<br />title free and clear of all right, title and interest of 1'rustar a.t such time and place as 'I'r-ustae designates- 'I'rust(:a shall giva
<br />uatice of sal(: iucludiug daa time, terns turd place a[ sa[c :.u;d a (lescripli(in ~)f the pr.,l)(:rfy to be s(.Id as ra(juir(:d by 11.rc
<br />applicable law iu effect at the Lune of the proposed sale.
<br />LJpou sale of the Property and I:o the extent not prohibited by law, Trustee shall make and deliver a load to the 1'ruparty
<br />sold which conveys absolute title Lo the purchaser, and alter first paying all fees, charges a.ud casts, shall pay to
<br />Bcueficiary all moneys advanced for repairs, taxes, insurance, liens, assessments and prior eucumbrauces and interest
<br />thereon, and the principal and interest ou the Secured llebt, paying the surplus, if auy, to 'Trustor- Beuel'iciary may
<br />purchase the Property. The recitals in auy deed of conveyance shall be prima facie evidence al' lha facts set forth therein.
<br />All reriaedies are distinct, curaiulative and tux exclusive, and the Beue.ficiary is entitled to all remadias provided al law or
<br />eyuiry, whether or not expressly set Earth. The acceptance by Beneficiary of xuy sum u.t payl.ueut ur parl'ial payment on the
<br />Secured Loehr after the balance is due or is accelerated or after foreclosw~a procaadings are filed shall uol conslitule a
<br />waiver of Beneficiary's right to require complete cure of arty existing default. By ^ot exercisil:rg a.uy ren.iedy ou 'fruslur's
<br />default, Beucl'iciary does loot waive Bencl'iciary's right to la.f.er consider tuci event a (lcfa.ull if it colttiuucs or laappetas again.
<br />16. EXPENSES; ADVANCES ON COVENANTS; ATTOIINLYS' hLLS; COLLECTION COSTS. l~xcepl when
<br />prohibited by law, 'I'rustar agrees co pay all of Beneficiary's axpcuses if 'Crustor braach.es auy coveuaul iu. this Srcucily
<br />Iustrurneut. Trustor will also pay on demand any amount incurred by Beucficia.ry far iusurinl;, iuspecl.iug, preserving ur
<br />otherwise protecting the Property and I3eueficiary's security interest. These expenses Wtll heal' LntLt-LSt troth. I:II~ d~tt(: ul' tllc:
<br />payment until. paid in full at the highest interest rate iu effect as provided iu the teruts of the Secured Debt. "1'ruslot a.grae:s
<br />to pay all costs and expenses incurred by Beneficiary iu collecting, ertibrciug or protecting Beneficiary's rights aa)d
<br />remedies under this Security Iusl:runzeut. This alnouut may include, tint is nOt liu)ited to, attorneys' teas, court costs, and
<br />other legal expenses. This Security Iustrurucut shall rarnaiu in effecC until released. 'I'rusfar agrees to pay for troy
<br />recordation costs of such release.
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) l~l.rvirouutental La.w
<br />menus, Wlthauf. lullltatiall, [ha Cornpreheusive Iuvi(•oruneut.al .Response, C~ntnpeasatiou ar)d l..ial)il.ity Act (C-:1~.IZC~I..A, 43
<br />li.S.C. ?ut)I ci s(:~:1,), arul all. other fedc-.r~1., orate quail local laws, rctrulati(>(ts, or;liu,u:tcar, court ar(lers, :,Lorne na: rl
<br />y g~
<br />opinions or interpretive letters CollCCCllIUg Che publtC health, safety, wcll'are, envir:ottntent L)r: a hazardous substance; a.nd (?)
<br />Hazardous Substance menus auy toxic, radioactive or IZazardous malarial, Waste, pollutant. or coutamiuaut whiclr has
<br />characteristics which reader the substance dangerous or pateutiatly dangerous to fl.ie public healll,r, safety, welfare or
<br />euviramateut. TUe term includes, without lullrtat.tou, auy substances defined as "httzardnus material," "toxic substances,"
<br />"hazardous waste" or "Izazardous substance" under auy Lnvirotuueutal l..aw.
<br />Trustor represents, warrants and agrees that:
<br />A.I;xcept as previously disclosed and acknowledged ill writing to Beueficial:y, tw I-la.zardous Subsla.nce is or will ba
<br />lacaf.ed, stored or released ou of in the I'raperty. 'This restriction. dons not, apply to srz~trll yuanritias of I-laza.rdous
<br />Subst.auces that are generally reeoguiced to be appropriata for tha norrna.l use and ntauneuauce of tha Property.
<br />B. Except as previously disclosed and acknowledged in writing to I3enaficiary, `frustor anal ovary lal.laut haul: hcct.t, are,
<br />auel shall remain in full cou~pliance with auy applicable t;nvironntautal Law-
<br />C:.1'rustor shall ururaedrately notify Beueficia.ry if a ralease or tlu-eafened release of a Iazardous Substance occurs un,
<br />under or about the Property or there is a violation of ,try Iinvironutental Law concerning. tha I'ruparry. In such tut
<br />event, Trustor shall take a.ll accessary remedial action in accordarrca with auy I::nviron)))eutal [,xw.
<br />D. Trustor shall iai~uaediately notify I3euafieiary iu writing as sport as "Trustor I)as reason to beaieve U)ere is any pending
<br />or threatened investigation, claim, or proceeding relating to the release or threatertad ralaasa o.f any .l-laz;i.rdous
<br />Substance or the violation of auy Environmental Law.
<br />18. CONDEMNATION. Trustor will give I3ene1'iciary prompt notice of auy pauding or threatened action, by priva.ta or public
<br />entities to purchase ar take arty or all of the Property Chrough coudeuiuat.iau, eminent domain, or arty other uzeaus. Trustor
<br />authorizes Beneficiary to intervene iu `l'rustor's Warne iu any ol• the above dascribed acfial.ts ot- cla.ims. "Trustor asr•igns to
<br />Beuefrciary the proceeds of auy award ar claun tar da111agL'ti COngL'C[ed WLCI1 a COndelrlnalaan al- afhf~C taking OI' all al- ally
<br />part of the Property. Such proceeds shall be considered payments and will ba applie(1 as provi(ed iu this Sacurily
<br />hastruaa.eut. "This assigmneaf of proGecds is subject.I:o the terms of any pri(~r.morl.gage, dce(1 a1'-!rust; socurily tlgra:clucnt nr
<br />other lieu document.
<br />19. INSURANCE. Trust(7r shall keep Property insured against loss by 1'ira, flood, [lael't and other hazards and risks reasonably
<br />associated with the Property due to its type and location. `i'bis iusurauce shall ba ntaiutau)ed iu the amounts and for tl.ta
<br />periods that Beneficiary requires. What L,euder requires pursuant to the preceding serllance can change duruig llrc tern). Of
<br />the luau. The insurance carrier providing tlic iusurauce shall be cltosel) by 't"rustor subject to Beneficiary's approval, wlaich
<br />shall not be unreasonably withheld. If Trustor fails to mauiCaru the coverage descl-ihed ,hove, Beuaficia.ry ruay, at
<br />Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property accur(lrlag to the terms of t.lus Security
<br />instrurneut.
<br />All iusurauce policies and renewals shall Lae acceptable to Iienel'iciary and shall include a sranda.rd "mortgage clause" and,
<br />whore applicable, "less payee clause." Trustor shall uumediafely uolil'y Beual'iciary of caucallatiort or: tarmmatton of the
<br />iusurauce. Beneficiary shall have the right Co hold the policies and renewals- if Beneficiary requires, 'Trustor shall
<br />umnediately give to Beneficiary all receipts of paid premiums and renewal noficas. LJpou loss, `1'rustar shall give
<br />mtrnedtate notice to the insurance carrier and Beuel'iciary. Beneficiary may retake proof ul' loss il' not ntada in))) cdia.tely by
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<br />Trustor. r. ~ ~, ai:; G 1 ~:d ; ~,:ritxlk, '"a
<br />~" (pdq 3 41
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