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<br />f4. DEFAULT. Trustor will be in default if any party obligat� on the Secured Debt fails to make payment when due. Trustor
<br />will be in default if a bre.ach occurs under the terms of this Sec�rity Instrumf3nnt or any other document executed for the
<br />purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at any y
<br />hme is insecure wnth respect to any person or entity obligated on the Secured Debt or that the prospect of any payment or
<br />the value of the Property is impaired shall also constitute an event of default.
<br />15. REMEDIES ON DEFAULT. In some instances, federal and state 1aw will require Beneficiary to provide Tnistor with
<br />notice of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to these
<br />limitations, if any, Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner providai
<br />by law if Trustor is in default. �
<br />At the option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall become
<br />immediately due and payable, after �iving notice if requ�red by law, upon the occurrence of a default or anyt�me ther�fter.
<br />In addition, Beneficiary sha11 be entrtled to a11 the remedies �rovided by law, the terms of the Secured Debt, this Security
<br />Instrument and any related documents, including without limrtation, the power to sell the Property.
<br />If there is a default, Trustee sha11, in addition to any other permitted remedy, at the request of the Beneficiary, advertise
<br />and sell the Property as a whole or in se�azate parcels at public auction to the lughest bidder for cash and convey absolute
<br />title free and cleaz of all right, title and mterest of Trustor at such time and place as Trustee designates. Trustce shall give
<br />notice of sale includiug the time, terms and place of sale and a description of the property to be sold as required by the
<br />applicable law in effect at the time of the proposed sa1e.
<br />Upon sale of the prop yand to the extent not prohibited by law, Trustee shall make and deliver a deed to the Properiy
<br />sold which conveys ab olute title to the purchaser, and after first paying a11 fees, charges and costs, shall pay to Beneficiary
<br />all moneys advanced for repairs, taxes, insurance, Iiens, assessments and prior encumbrances and intere�st thereon, and the
<br />principal and interest on the Secured Debt, payin� the surplus, if any, to Trustor. Beneficiary may purchase the Property.
<br />The recrtals in any deed of conveyance shall be pruna facie evidence of the facts set forth therem.
<br />All remedies are distinct, cumulative and not exclusive, and the Beneficiary is entitled to all' iemedies provided at law or
<br />equity, whether or not e�cpressly sef°forth. The acceptance by Beneficiary of any sum in payment or pazrial payment on the
<br />Secured Debt after the ba'lance is due or is accelerated or after foreclosure proceeamgs'are filal sha11 not constitute a waiver
<br />of Beneficiary' s right to require complete cure of any existing default. By not �xerc�smg any remedy on Trustor's default,
<br />Beneficiary does not waive Beneficiary's right to later consider the event a default if it continues or happens again.
<br />16. EXPENSES; ADVANCES ON COVENANT5; ATTORNEYS' FEES; COLLECTION COSTS. Except when:�
<br />prohibited by law, Trustor agrees to pay all of Beneficiar�' s expenses if Trustor breaches any covenant in this Security
<br />Instrument. Trustor will also pay on demand any amount mcurred by Beneficiary for insurin�, mspecting, preserving or
<br />otherwise protecting the Property and Beneficiary's security interest. These expenses will bear interest from the date of the
<br />payment unhl paid m full at the highest interest rate in effect as provided in the terms of the Secured Debt. Trustor agrees
<br />to pay a11 costs and expenses incurred by Beneficiary in collecting, enforcing or prot�ting Beneficiary's rights and
<br />remedies under this Security Instrument. This amount may include, but is not limited to, attorneys' fees, court cbsts, and
<br />other le�al expenses. This Security Instrument shall remain in effect until released. Trustor agrees to pay for any
<br />recordation costs of such release.
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
<br />means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42
<br />U. S. C. 9601 et seq.�, and a11 other federal, state and local laws, regulations, ordinances, court orders, at�omey general
<br />opinions or interprehve letters concerning the public he,alth, safety, welfaze, environment or a hazardous substance• and (2)
<br />Hazardous Substance means any toxic, radioacrive or hazardous material, waste, pollutant or contaminant w�►ich has `
<br />characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br />environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substance.s,"
<br />"hazardous waste" or "hazardous substance" under any Envuonmental Law.
<br />Trustor represents, warrants and agtees that: .
<br />A. Except as previously disclosed and aclrnowledged in writing to Beneficiary, no Hazazdous Substance is or will be
<br />located, stored or released on or in the Property. This restricrion does not apply to small quantities of Hazardous
<br />Substances that are generall�% recognized to be appropriate for the normal use and maintenance of the Properly.
<br />B. Except as previously disclosed and acknowledged in writing to Beneficxary; : Trustor 'and every tenant have been,
<br />are, aud sha11 remain in full compliance with any applicable Environme�tal Law.
<br />C. Trustor sha11 immediately notify Beneficiary if a release or threatened r�elease of a Hazardous Substance occurs on,
<br />under or about the Property or there is a violation of any Environmental Law concerning the Property. In such aa
<br />event, Trustor sha11 take alI necessary remedial action in accordance with any Environmental Law.
<br />D. Trustor shall imm�iately notify Beneficiary in writing as soon as Trustor has reason to believe there is any pending \
<br />or ti►reatened invesrigation, claun, or proceeding relating to the release or thre�atened release of any Ha�atdous
<br />Substance or the violation of any Environmental Law.
<br />18. CONDEMNATION. Trustor will give Beneficiary prompt notice of any pendin� or threatened actiton, by private or pubiic
<br />entities to purchase or take any or all of the Properiy through condemnation, emuient domain, or any other m�ns. Trustor
<br />authorizes Beneficiary to intervene in Trustor' s name in any of the above described actions 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 Propert�. Such proceeds sha11 be considered payments and will be applied as provided in this Security
<br />Instrument. This assignment of proc,eeds is subject to the terms of any prior mortgage, deed of trust, security agreement or
<br />other lien document.
<br />19. INSURA.NCE. Tn�stor sha11 keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably
<br />associated with the Properiy due to its type and location. This insurance shall be maintained in the amounts and for the�
<br />periods that Beneficiary requires. What Beneficiary requir� purauant to the preceding sentence can change during the term
<br />of the Secured Debt. T'he insurance catrier �roviduig the insurance shall be chosen by Trustor subject to Beneficiary's
<br />approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above, Bene&ciary
<br />may, at Beneficiary' s option, obtain coverage to protect Beneficiary' s rights in the Property according to the terms of tlus
<br />Secunty Instrument.
<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. ° Trustor shall immediately notify Beneficiary of cancel`lation or termination of the
<br />insurance. Beneficiary shall have the right to hold the policies and r�newals: If Beneficiary requires, Trustor shatl
<br />immediately give to Bene�iciary all receipts of paid premiums and reriewal nori�.; Upon loss, Tn�stor shallg�ve immediate
<br />notice to the u�surance c�rier and Beneficiary. Beneficiaty may make proof of lbs� if not made immediately by Trustor.
<br />;; ,:
<br />(Page 3 of 4)..,
<br />� 1884 Woitera Kluwer Finencial Servicea - Bankera SystemaTM Form RE 12H 512008
<br />VMP�-C765(N� (oioa� � �� `
<br />894/CN/fINH 456847 � � ,
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