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<br /> executed fae the purpose of creating,securing or guarantyin� the Securcd Dcbt.A good faith bclief by L.endcr that F
<br /> Lender at.any time is ins�cure�vith respect to any person or entity obligated on the Secured Debt or that the prospect =
<br /> af any payment or the value of the Property is impaired shall also coustituts an evcnt oi default.
<br /> 15. REMGDI�:S ON DEFAULT.In somc instnnces,f�:deral and state law will require Lender to providc Grantar witDi -...
<br /> notice ot the right to cure or other notices and may establish tirae schedules for foreclosure actions.Subject to these �
<br /> limitations, if any. L.ender may accelerate the Secured Debt and foreclose this Security Instrument in a manner �
<br /> provided by law if Grnntar is in def�ult. ` :
<br /> At the uption Af Lender, all or any part of the agreed fees and charges,accrued interest and principal shall become —
<br /> immediately due and payable,aftei giving notice if required by law,upon the occurrence of a default or lnytime �
<br /> thereatter. In addition,Lender shall bc sntitled to all the remedies provided by Isw,the tcrms of the Secured nebt, �.
<br /> tD�is Security Instrument and any related dacuments,including without lim�e��ion,the power to sell the Pro�erty.
<br /> Y€therc is a default,'YYustee yhall,in addition¢a�1ny other permitted remedy,at the request of the L.ender,advertise
<br /> and sell the Property as a wf�ole or in separate parcels at public auction ta the highcst bidder for cash and convey -
<br /> absolute title free and cleae of all reght, title and interest of Grantor at such time and place as Trustee designates.
<br /> Trustee shall give notice of sale includin�the timo,terrns and Flace of sale and a des;cription of the praperty to be sold
<br /> as rcyuired by the applicablc lAw�n effect at the timo of the proposed salc.
<br /> Upon snle of the praperty nnd to thc extent not prohibitcd by law,Trustcc shall make and delivcr�dccd to thc Property
<br /> sold which umvcys ahsalutc ti+tic ta thc purchascr,nnd Aftcr first payin��+II fces,charges and costs,shnll pay to L�:ndcr all
<br /> moncys ndviinced fnr repi11f9,taxes,insurance,liens,asscssments�nd prior encumbrnncc:s and inlerest thcrean,and the
<br /> p�lncipnl ni�d iotere�t on the Sccured Rebt,paying thc surplus.if any,to Gran►or.l.c�tder muy purchase thc Yro}�crty. �
<br /> 'Chc rccitnls in any dcc�l��f conveyimce shall hc prima fncie evidencc:of thc fazts sct forth th:rcin.
<br /> All remedicy ure distinct,cumul�tive and not exclusive,:�nd the Lender is entiUcd to�II remedtes provided nt IAw ur
<br /> cNuity,whetL•cr or nut expressly sct forth.The acce:ptance by Lcndcr of�my sum in payment or parti:►I payment nn the _
<br /> Sccured Debt.ifter the i�ulnncc is due or is accelcrated ar aftcr forcclasurc procecdings are�led shnll not constitute a
<br /> waivcr of l..cndcr's right to require cnmplctc curc af any ex�sting default.By not excrc[sing any remedy on Grnntor's
<br /> dcfnult,Lcndcr docy not wnive Lcndcr's right to latcr consider the event�dGfault if it continues or happens again.
<br /> 16� �XPENSES; ADVANCES ON COVENANTS; ATTORNF.YS' FEES;COI.LECTION CQSTS.Except �vhen
<br /> prohibited by law,Grantor agrees to pay all of Lender's expenses if Grantor breaches any covenant in this Security
<br /> Instrument.Gruntor will also pay on dem3nd any amount incurred by Lender for insuring,imspecting,�reservins or
<br /> othcrwisc protccting the Property and Lendcr's security intcrest.These expenses wiU bear intcrest from the date of
<br /> thc payment untll paid in full at the highest interest rate in effect as provided in the tcrms of the Secured nebt.
<br /> Cirantor agrees to pay aii costs snd expenses incurred'ay under in coiteciing,enforcing�r proiCCiing Ixnuc�'s i i�iits
<br /> and remedics under this Security Instrument. This amount may includc,but is r.ot limited to,attorneys' fecs,court
<br /> costs.and other legal cxper.ses.This Security Instr►iment shall remain in effect untit released.Grantar agrees to pay
<br /> for any re�ordation costs of such relc:ase.
<br /> 17. ENVIRONMENTAL LAWS AND HAZARDOUS SUSSfANCES.As used in this section,(1)Envixonmental J�aw
<br /> means,without limitation,the Comprehensive Environmentnl Response,Compensatian and Liability Act(CERCLA,
<br /> 42 U.S.C. �I601 et seq.), and all other federal, stute aiid local laws,regulatfons, ordinances,aourt orders.attorney
<br /> gcneral opinions or interpretivo lotters concerning the public heaith,safety,welfare,environment or a hazardaus
<br /> substance; and(2) I�azardous Subsinnce means any toxic,radioactive or hazardous mntorial,waste,pollutant or
<br /> contaminant which has characteristics which render the subsinnce dangerous or potentiAlly dangerous to ttie pubtic
<br /> health,safeiy,welfare or environment.The term includes,without limitation,any substances defined ns"hnzaraous
<br /> inaterial,"•'toxic substances;'"hazardous�vaste"or"ha•r.ardous suUstance"under Any Bnvironmentnl I.aw.
<br /> Grantor represents,waiTants and agrees that:
<br /> A. Except as previously disclosed und�cknowledged 3n�vriting to I.ender,no Hazardous Substance is or will be
<br /> located.storcd or releascd on or in the Property."i'his restriction does not apply to small quantities of
<br /> IIaz�rdaus Subst�nces thlt are genernlly recogni�ed to be appropriate for the norma�use an�xnaintenance o�
<br /> the Property.
<br /> S. Except as previously disclosed and acknowlcdgcd in writing to Lender,Grantor and every tenant havc bcen,nre,
<br /> 1nd shall remain in full compliance with any applicablc Environmental Law.
<br /> C. Grantor shall immediately notify Lender if a relc�se or threatened relcase of a Hazardous Substancc occurs on,
<br /> under or about the Properry or there is a vialation of any Environmental Law concerning the Property.In si�ch
<br /> nn event,Grantor shall teke all neces��ry remedial Action in accordance with any Environmental Law.
<br /> D. Grantor shall immediatcly notify L.endcr in writing as soon as Grantor has renson to be]ieve there is any
<br /> pending or thrcatened investigation,cl�im,or procceding re7ating to the release or tl�reatened release of any
<br /> Hfuardous Substancc or the violation of any Environmental L.�+w.
<br /> l8. COND�MNATION.Grantor will give Lender prompt notice of any pending or threatened action,by privata or
<br /> public entitics to purchasc or take any or all of the Property through condemnation,eminent Uom�in,or any other
<br /> m:ans.Grantor authorites Lc�nder to intervene in Cirantor's name in any of the nbove dcscribed actions or claims.
<br /> Grantor assigns to Lender the proceeds of�ny award or claim for damages connected with a candemnation or other
<br />= taking of all or any part of th�Property.Such proceeds shall be considered payments and will be applied ns providecl in
<br /> tnis 5ecurity instrument. This assignment of proceeds is subject to the terms ot'ar►y prior mortgn�e,deed of trust.
<br /> sccurity agrcemcnt or othcr lien document.
<br />,_ 19. iNSUKANCE.Cirantor shall kecp Property insured against loss by firc.flood, theft and other hazards and risks
<br />= reasonnbly assceietcd�vith the Property due tu its type and location.This insurance shall be maintaii►ed in thc amounts
<br />_ and for the periods thnt Lender requires.'The insurAnce carrier providing the insurance shall be shoscn by Grantor
<br />= subiert to Lcnder's approvnl. which shall not be unrcasonably withhclJ. ff Grantor fails to maintain thc covcrage
<br />= dcscril�ed above,L,endcr mny.at Lcndcr's option,obtain cov�ragc to protec3 Lcnder's rights in thc Properiy according
<br /> to the tcrms of this Secarity Instrument. _
<br />- All insurance policies�ind renewnls shall be acceptuble to Lender and shall include a standard"mortgage clause"and, —
<br />° wherc appllcable,"loss pnyee cluuse."Grantor shatl immediately notify L.endcr of cancc:llation or termin�tion of the
<br />- insur�ncc.Lcndcr shall havic el�c riglit to hold thc policics nnd rencwals,If L.cnder requires,Gr�ntor shaU immediately �
<br /> give to Lendcr all rcceipts of paic��remiums and eenewal notices.Upon loss,Grantor shall give immediate notice to -
<br />= thc insurancc carricr and I.cr�der.Lendcr may makc proof of loss if nat madc immediately by Grantor. -
<br />:= . � (pago 3 of 4) —
<br /> O t7J1 L�anRan Syiteme.Ine.Se CbW.MN(t-000�391•231f)Fonn RE�DT-NE P1651
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