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<br />14. DEFAULT. Trustor will be in default if any party obligated on the Secured Debt fails to make payment when due. Trustor
<br />will be in default if a breach occurs under the terms of this Security Instrument or any other document executed for the
<br />purpose of creatin�, securing or guarantying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at any
<br />time is msecure wrth 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. REMEDIE5 ON DEFAULT. In some instances, federal and state law will require Beneficiary to provide Trustor with
<br />notice of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to these
<br />limitarions, if any, Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided
<br />by law if Trustor is in default.
<br />At the oprion of Beneficiary, all or any part of the agreed fees and chazges, accrued. interest and principal shall become
<br />immediately due and payable, after giving notice if requu�ed by law, upon the occurrence of a default or anytime thereafter.
<br />In addition, Beneficiary sha11 be enritled to all the remedies �rovided by law, the terms of the Secured Debt, this Security
<br />Instrument and any related documents, including without limitation, 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 Properiy as a whole or in se�arate pazcels at pubhc auction to the highest bidder for cash and convey absolute
<br />title free and clear of all right, title and mterest of Trustor at such time and place as Trustee designates. Trustee shall give
<br />notice of sale including 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 sale.
<br />Upon sale of the property and to the extent not prohibited by law, Trustee shall make and deliver a deed to the Properly
<br />sold which conveys absolute ritle to the purchaser, and after first paying a11 fees, chazges and costs, shall pay to Beneficiary
<br />all moneys advanced for repairs, taxes, uisurance, liens, assessments and prior encumbrances and interest 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 pnma facie evidence of the facts set forth therem.
<br />All remedies aze distinct, cumulative and not exclusive, and the Beneficiary is entitled to a11 remedies �rovided at law or
<br />equity, whether or not expressly set forth. The acceptance by Beneficiary of any sum in payment or partial payment on the
<br />Secured Debt after the balance is due or is accelerated or after foreclosure proceedings aze filed sha11 not consritute a waiver
<br />of Beneficiary's right to r uire complete cure of any existing default. By not exercrsing any remedy on Trustor's default,
<br />Beneficiary does not waive�eneficiary's right to later consider the event a default if it continues or happens again.
<br />16. EXPEN5ES; ADVANCES ON COVENANrS; ATTORNEY5' 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 />Insmiment. Trustor will also pay on demand any amount mcurred by Beneficiary for insuring, uispecting, preserving or
<br />otherwise protectin� the Property and Beneficiary's security interest. These expenses will bear interest from the date of the
<br />payment unt�l paid m full at the highest interest rate in effect as provided in the terms of the Secured Debt. Trustor agrees
<br />to pay all costs and expenses incurred by Beneficiary in collecting, enforcing or protecting Beneficiary's rights and
<br />remedies under this Secunty Instrument. This amount may include, but is not limrted to, attomeys' fees, court costs, and
<br />other le�al exgenses. This Security Instrument shall remain in effect until released. Trustor agrees to pay for any
<br />recordation costs of such release.
<br />17. ENVIRONMENTAL LAW5 AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
<br />means, without limitarion, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42
<br />U.S.C. 9601 et seq.), and all other federal, state and local laws, regulat�ons, ordinances, court orders, attomey general
<br />opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2)
<br />Hazardous 5ubstance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has
<br />characterisrics which render the substance dangerous or potentially dangerous to the public health, safety, welfaze or
<br />environment. The term includes, without limitation, any substances defined as"hazardous material," "toxic substances,"
<br />"hazardous waste" or "hazardous substance" under any Environmental Law.
<br />Trustor represents, warrants and agrees that:
<br />A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is or will be
<br />located, stored or released on or in the Property. This restnchon does not apply to small quantities of Hazardous
<br />Substances that aze generally recognized to be appropriate for the normal use and maintenance of the Property.
<br />B. Except as previously disclosed and aclaiowledged in writing to Beneficiary, Trustor and every tenant have been,
<br />are, and sha11 remain in full compliance with any applicable Environmental Law.
<br />C. Trustor shall immediately notify Beneficiary if a release or threatened release 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 an
<br />event, Trustor sha11 take al� necessary remedial action in accordance with any Environmental Law.
<br />D. Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is any pending
<br />or threatened invesrigarion, claim, or proceeding relatmg to the release or threatened release of any Hazardous
<br />Substance or the violation of any Environmental Law.
<br />18. CONDENINATION. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or public
<br />entities to purchase or take any or all of the Property through condemnation, emuient domain, or any other means. 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 awazd or claim for damages connected with a condemnation or other taking of all or any
<br />part of the Propert�. Such proceeds shall be considered payments and will be applied as provided in this Security
<br />Insmament. This assignment of proceeds is subject to the terms of any prior mortgage, deed of ixust, security agreement or
<br />other lien document.
<br />19. INSURANCE. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably
<br />associated with the Property due to its type and location. This insurance shall be maintained in the amounts and for the
<br />periods that Beneficiary reqwres. What Beneficiary requires pursuant to the preceding sentence can change during the term
<br />of the Secured Debt. The msurance carrier providmg the insurance shall be chosen by Trustor subject to Beneficiary's
<br />approval, which shall not be unreasonably withheld. If Tntstor fails to maintain the coverage described above, Bene�iciary
<br />may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according to the terms of this
<br />5ecunty Instrument.
<br />All insurancepo licies 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 cancellation or termination of the
<br />insurance. Beneficiary shall have the right to hold the policies ancf renewals. If Beneficiary requires, Trustor shall
<br />immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give immediate
<br />notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by Trustor.
<br />,,� 1 fpage �� �� 41
<br />c� 7 994 Woltera Kluwer Financial Servicea - Benkera SystemsT� Form RE-DT-NE 12/16/2008 �`� ,/�'��"e
<br />VMP �-C165(NE) lo�osl ��—
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