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<br /> d ose of creaun securing or guarantying the Secured I)ebt.A good faith belief by Lendcr that _-��;- -
<br /> � • executed for the pur� �• -''t` •
<br /> Lender at any time is insecure tivith respect to any persun or enuty obligated oa�the Secured Debt or that the prospect ,,. .; �-�:,_
<br /> of any payment or the value of the Property is impaired shall also constitute an+event of default. - ,:,,;4-.;�..�. -�-
<br /> Z5, ItEh�DIF��ON DEFAUL'[:In some instancees,federal and state ia�v will require Lender to provide Grantor with ,<.
<br /> s,
<br /> � n o t i c e o f s t t e r i g t tt tn cure or ather aoticss and may establish ticne schedules for foreslosure actions.Subject to these _ _,_�:P•4;__'r =__-�,�`
<br /> limitauons,if any.I.ender may accelerate the Secured De bt an d foredose t his S e c u ri ty i n s t r u m e n t i n a m a n n e r � -
<br /> �.° provided by!aw if Grantor is in defanlG • '��'. �. .._ . -
<br />_-�""` At the ap�ion of i.endcr,all or any part of the agreed fees and charges.accrued interest and principai sha8 become �? _
<br /> immediately due and payable,after giving nouce if required by law.upon the occunence of a defautt ar anytime ` � ,
<br /> ;'_°� thereafter.in addiuon,Lender shall be entitled to all the reraedies provided by law,the terms of the Seeured Debt, , .��. __
<br />- - - this Security I�suument and any related dacuments,including without timitatian.the power to se Q t he Prope rt y �,,
<br /> If there is a defauIt,Tntstee shall,in addition to any other permitted remedy.at the rec;aest of thc Lender,adver3i..�e T r�-�-.�=
<br /> and sell the Property as a whole or in separate pazcels at public audioa to the highest bidder for casb aad convey ' . _ :�;�,�.. � `_
<br /> -Tti:.�-!- �. -���K�,��v �
<br /> � ahsolute title Cme aad ctear of alI righ�titte and interest of Grantor at such time and place as Trustee des�gnates. .._. ;A
<br /> • T n u t e e shall g ive notice of sale inciuding the time.terms and plase of sale and a description of the property tu bc sald ,,ti..;;;`, ;�F
<br /> as required by the applicable law in effect at tve time o f t he propos e d s a le. - :'� .�,� ,: :�
<br /> U�on sale of the praperty and to the extent�tUt proW'bited by law,Trustee shall make and deticer a decd to the Properry ��;,.,.�::,�-
<br /> `�� sald which canveys absolute dde to the purehaser,and after 5rst paying a11 fees.charges and cosu,shall pay to Lender all '::,��,���-;
<br /> •;--r:..��
<br /> - maceys advanced for rep'•sirs.taxes,inssuanoe,tieas,asses�-ments and prior encumbrances and interest thereon.and the -, --_�.;,�,_
<br /> pria�,apal and iaterest on tEte Sc�ured Debt,paying the sarplus,if any.to Grantor.I.ender may purchase the Fraperty ;,�� ���
<br /> '� �'ke tecitals in any deed of canvevance shatl be priina facie evidence of tlte facts set forth therein. : z__
<br /> .}�r,u�..:a,..:... ...:)i.:
<br /> ,��.,m���e distiact,cumulative and anc exclusive,and the Lcnc4e�is entided to all remedies provided at iaw or �__
<br /> � c�rity,wi�ether or not expressly set for�h�.Z?za acceptance by L.ender of any sum in payment or partial payment on ihe �.,;;�.s��
<br /> �� ..;._,
<br /> �,.^red Debt after the balance�s due or is accelerate�or after foreclosure proceedings are fited shaU not can..`titute a r R
<br /> • -�,a�ver of Lender s right to require complete cure of�aa e�risting defaul�By mot exerc�ing any remedy an C�antar's �.•�: ''���•,�ry,;:�,
<br /> � � default,Lender does not waive Lendei�m�a to later consider the event a default if ii continues or happens a;ain. _ .�':,.� .,-
<br /> 16. EXPENSES;AD�►ANCES ON CO`n�.'.�NTS�ATTORNEYS'FEES;COLLECTION C�STS.Except v:ucb .�`,
<br /> °' ` proW'bited 6y law.Gr�ntor agrees to p�a a.�of Lender's eapenses if Grantor breaches any cavenant in this Secvrity ,. ,;, :'" ;=;;.
<br /> ectin re�cving or �';.�'.;-'=
<br /> ' �.rument.Grantor cvill rilso pay on demand any amount incurred by Lxnder far in�uing,insp g,P � • .;�.`:, .,.:� `' �,-
<br /> ��:Emrwise protec2ing the Pra�u�cy and Lendei s security interest'd'hese expenses��71 bear interest from tJh��iate of � },r^ �;,
<br /> t�,-.�pa y ment until paid in fi:!3 at the highest interest rate in effeci as providefi z� the terms of the SecrJ.�Deb� , --
<br /> ,�;�,j .
<br /> Grantor agrees ta pay all costs and expenses incurre d by L en der in a a u e s t i n g,e n f a r c i n g o r p r o t e c t i n g L e a c'v��'�ri g hts ���',; _ _
<br /> and remedies ur�der this Security Instrumen t•Tivs amount ma y eu.���.but is not limited to.attomeys f:ts,court � ;
<br /> rs•rbs�and other tegal expenses.This Se�v�:y Instrumemt shali rem�in effeci until released.Grautor ag�rzs to pay .'� � ry�r
<br /> ' !'aur:any recordation costs of stub release. �'' •,:.;F.
<br /> 17. �JVatONME1�PfAL LAWS AND HAZAR�OUS�ffT13S1'ANCES.As used in this secoion.(1)Env9ranmr�aal Law _ � ,�•• _'=
<br /> NM ��
<br /> ����out timi�ation,Uie Comprchensive Environmental Response.Compensation and Liabitity Act{('�t2CI.�►. � ri =
<br /> 42 U.S.C.9601 et seq.).and all ather federal.state and local la�vs.regulations,ordinance� a�urt ar�°is,attorney -r� •i. �� , ;
<br /> � general opinions or interpretive letters concerning the public health,safety,weltare.entiin:nuient or a hazardous „ ;°,;►.,s;;�.__F�•
<br />::.`•.i,'�.'��.:• sulsstance;and(2)Hazardous Substance raeans any toxic,radioactive or hazardous material.waste.pollutant or • ;„_��>
<br />""'"`• contamuuwt which 8as c6azacteristics which render the substance dangemus or potentially dangerous to the public ,:��,_��;_____�_
<br /> ar:�•� . health.saf�ry,weffare or environmen�The term includes,a+ithout Gmitatian.any su6stances defined as"Tinzarda�s �. "''rY� .
<br />' � material,"°ta+ric substances.""hazardous waste"or"haTardous substautce"under any Environmental I.aw. � .. , v_.
<br /> . .� '' Grantor repr�:v��ts,warrants and agees that: �', , . .� ,•��"
<br /> �.'-�:... ,: ;�: .�.�;.
<br /> • p, Excepi as previousty disclosed and acknowledged in writing to 1-ender.ao Hazardous Substance is or will be ..,� : ,
<br /> ' located,stored or released on or in the Property.T6is restriction does not apply to sme;I c���utities of �-=��-
<br /> • '. ' Hazardous Substances that are generally rew��ued to be appropriate for the norma!use and ma±tal��r;3.nce of __�.--
<br /> s�•::: '..�� the Property. �-:n��;.�.,�t
<br />, .t,<, ,
<br /> "`-�`.i:•�t: . B. Except as previously disclosed and acknowledged in writing to Lender.Grantor and ever�tenaiu�.��{e 1;�n,are. ,, ;__,,.
<br /> ••�'� �� ' and shall remain in fu11 complian�with any applicabte�nvironmental Law. 1.:=-�s;�t�.
<br /> ,�,'7`r;.�
<br />�;,n;>>: C. Crrantor shaU immediately notify Lender if a ralease or threatened release of a HaTardous Scb�aur.�L m�cvs on, ��1 �� : _
<br /> � under or about the Pri�perty or there is a violation ot any Environmental,f��w canceming the P�v�-.rSry_�n such .�:.,--_:
<br /> ' an event.Gcantor�:l1 take all necessary remedial action in aocordance����•�i any Environmenta!�r�r: ��5r�`_��;
<br /> �-°�; _
<br /> p, Grar,trr saall immediately notify Lender in wEiting as N���n.as Grantor has reason to believe there is any � �_
<br /> �t� `"' � ,:�.
<br /> pendi�rU or threatened investigation,claim.or pr�oceeding n:{��:ting to the release or threatened release of any ��._...
<br /> � Ha�:.'riacs Substance or the violation of any Env�ronmental Law. ��
<br /> � ���.• 18L ���ND�.'42:'�l�'EION.Grantor will give Lendet prom{�t notice of any pending or threatened action. Iz}�private or �--.---.--_.-:--;-----:-
<br /> ��.z�.,..
<br /> . . pubGc eniific.v�Co purchase or take any or all of the•(�c�operty through condemnation,eminent domain, ��c any other � �
<br /> means,(3r,;�ne authorizes Lender to intervene in Grantor's name in any of the above described acticctis or ctain�s. �` . ';�`::�
<br /> ' Grantor assi�;ns to L en der t h e p r a c e e d s o f a n y a�v a r d o r cl aim far dama ges connected with a condemnation or other
<br /> � taking of al!cr:�ny part of the Property.Such proceeds shall be considered payments and�vill be applied as provided in ?�+ji,
<br /> • ��..::
<br />.����; • this Security instrumen t�l l ris assi g n ment ot prooe�Js is subject to the terms of any priot mortgage.d»xd of ttust, •:r{'
<br /> �-�Y�r.��,�:
<br />��i�� .. secvrity agreement or aBs��r[sen documenL `
<br /> t�_,i.�"t�7.,�, _. :' ,;
<br /> ' 19 WSUItANC&Grantor shall keep Property insurcd against loss by fire. CFwd,theft and ather hs�s;sskt��and risks _ . t:`.`�`�:'..'�• '•. -`
<br /> �._,..>.._,.
<br /> • reasonably assosiatcd Nith the Property dt�e to its type and loratfon.This insurance shall be maintained in the amounts <.:•ht%;�'-„'.
<br /> . and for the prriods that Lender requires.The insnrance carrier Nnaviding the insurance shall be chosen by Grantor � �--�r'�^�'��#��
<br /> �.,,....;..,..,�. ,,,.
<br /> • subject to Lender s approval,which shall not bE unreasonably withheld. If Orantor[ails to maintain the coverage .�_,��. ,__._ —
<br /> described above,Lender may,at Lender s option,obtain mverage to prutect Lender s rights in the Property accordin� ��:�;
<br /> � to the terms of this Securiry Instrument. =y��°� -`�
<br /> • �II insuranee policies and renev,als shall be acceptable to Lender and shall include a standard"mortgage clause"and. ,,;,;��-,,,r:-�,;:-,��r�.:�
<br /> where applicable."loss payee clause."Grantor shaU immediateiy notify Lender of cancellation or tcrmination ot thc
<br /> . ' insurance.l.ender shall have the right to hold the poficies and renewals.lf Lender requires.Grantor shall immediateiy �. ����v. ._ —
<br /> " give to Lender all receipts of paid premiums and renewal notices.Upon loss,Grantor shall g'rve immediate notice to - -
<br /> � the insurance carrier ar►d Lender.Lender may make praot of toss if not made immedifltely by Grantor. _.,
<br /> -_.;i .
<br /> _ :,�.
<br /> —---= .. , �
<br /> , . (page 3 of 6}
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<br />-������ ' Ot934&�tfCrsSY=-matrc.StCb�A.6!N It-f,00397•233t1 FormFE-0TJ:E B�Z97 _ ' - --
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