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<br /> I 14. DEFAULT.TcustotvAll be�in default If nny puny obllgated on thc Sccur��d Debt falls to mnkc pi�ymcnt whcn duc.Trustor �
<br /> will be in default 1t a breach occure u�der tlie terms of thls Secttrity Instrument or uny other docmnent �:xecuted for the '�`
<br /> purpo�e of creatin ,�seeuriag or guarantying tlie Secured Debt, A good faith bellef by Heneflclnry thnt Henefic(nry nt any '
<br /> time is insecure w�th'i�espect to t�ny person or entity obligated on the Secured Debt or that the prospect af any pay►nent or
<br /> the value of the Property is impalred shall alsn conatitute an event af defnult.
<br /> 15. REMEDIES ON AEFAUI.T. In some iastances, federal and atate law wiU require Beneflctary to provide 'frusror with .
<br /> notice of the rlght to cure or other notices and may establish tlme schedules for fotcclosure nctlon9. Sub+eCt to these •�
<br /> limitations, !f any, Beneficiary may accelerate the Secured Debt and foreclose this Sec:urity Instrunient ln a ma�er
<br /> ,,,.. `� provided by law if Trustor is in default. • ,. -
<br /> � At the optioa of Beaeficlary. all or any part of the agreed fees and charges, accrued interest and principal shall become �
<br /> immediately due aad payable, after giving notice if required by law, upon the occurrence of a default or anytime
<br /> thereattee. In sddition, Beueficiary ahall be entitled to all the remadtes provided by law, the terms of die Secured Debt, ,,
<br /> this Securlty Instrument azid any relateci documeats,including without limitation,the power to sell the Property. �4� , "
<br /> If there is a default,Trustee shall. in addition to any other permitted remedy, at the request of the Beneficiary, advertlse ..-��r='"-
<br /> and sell the Property as a whole or In separate parcels at publtc aucdon to the highest bidder for cash and wnvey absolute "``�,��..,
<br /> � title free aud cleur of all dght,dtle and interest of Trustor at such dme and place as Trustee designates. Trustce shall give -
<br /> notice of�ale includins the time, terms and place of sale and a description of the properry to be sold as reyuired by the ' ' _ •-
<br /> � applicable law in effect at the time of the proposed sale. � . �; `y y
<br /> - Upon sale of the property and to the extent not prol,ibi� d by la� Truste� sh.�ll mnk� and deliver a de�!to the Property •• "��
<br /> � sold whIch conveys absolute title to the purchaser, and after tirst paying all fees, cha:ges and costs, ahall pay w �=�-- _
<br /> � Beneficiary all moneys advarced for repalrs, taxes, insurance, liens, assessments and pxlor encumbrances and inter�st �'�s,—
<br /> thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may ,,,,,�,__
<br /> purchase the Property.'IUe recitals ln any deed of conveyance shall be prima facie evidence of the facts set forth thereln. ----
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<br /> • `. . All remedies are distinct,cumulative and not eaclusive, and the Beneficiury ie entitled to all remedies provided at law or � -ys ;
<br /> t equity, whether or not expressly set forth.The acceptance by Beneficiary of any sum in paycnent ar partial payment on the '-,,;•���
<br /> Seaured Debt after the balance ts due or!s accelerated or after fareclosure paocc�edings aze filed shall not constitute a ,. �„
<br /> ' �,,� waiver of Beneficiary's right to.require complete cure of any existing default. By not eaercisiug any remedy on Trustor's , --
<br /> • default, Beneficiary does not waive Beneficiary's right to later wnsider the event a default if it continues or happens agaln. '� 1'�
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<br /> ' �< �. 16. EXPENSES; ADVAN�ES ON COVENANTS; ATTORNEYS' FEES; COLLECITON COSTS. Except when r�'r!�� �
<br /> _ -_. -- -- grahibiic;d h�ta�:.Tn�iar asr�s ;a pa�a:. �;E..-ncfci�r}�'s cxp..�cs !.Tnsiar hr:,ach;A any c:,sc:.ani irs ihis �uri�
<br /> Inatrument. tustor will also pay on demand uny amouat incurred by Beneficiary for insurIng, inspecting, pteserving or �S�
<br /> otherwlse pmt�cting the Fiuperry and Beneficiary's security interest.These eapenses will bear interest from thc date of the ,
<br /> � �.; payment untii paid ln full at We bighest interest rate in effect as provided in the terms of the Secuzed Debt.Trustor agrees • ^.,� '��''
<br /> , to pa. all costs and eapenses incurred by Beneficiary in colle�tiag, enforcing or protecting Beaeficiary's righte and :�4;
<br /> �� re�es under thia Secudry Instrun�ent.This amount may include,but is not limited to, attomeys'fees, court costs, and t+ y `!'
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<br /> other legal expenses. 'i7tie Security Iustrument shell remain in effect untll released. Trustor agnes to pay for any .,� }i t,,
<br /> � recordauon costs of such release. �R� �r ,_;
<br /> 17. ENVIRONMENTAL LAWS AND HAZARD(?US SiJBSPANCES. As used in Wis section, (1) Envitonmental Law
<br /> . . means, without lim(tation,the Comprehensive Snvironmental Response, Compensation and Llability Act(CERCLA. 42
<br /> U.S.C. 9601 ei seq.), and all other federal, state and local laws. regulations, ordinaaces. court orders, attorney general _ .
<br /> , opinions or interpreuve letters conceroing the public health.safety.welfare,environment or a hazardous substance;end(2) s �
<br /> Hazardaus S�bstance n4eans any toxic, radioactive or hozardous material. waste, po 1lutant or contaminent which has ,,;;�_
<br /> charactertstics which render the substnnce dangeroue or potentiaslly dangerous to We public healtt„ safety, welfare or
<br /> ' enviromnent. The term includes, without limitation,any substanr.es defined as "hazardous material," "toxic substances," __—
<br /> � "hazarduus waste" or"hazardous substance"under any Environniental Law. --—
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<br /> - ' Truswr r�presenta,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 rcleased on or in the Property. 'ILis mstriction does not apply to small quAntities of Hazardous -.-
<br /> .' ;; Substances that are generally recognized to be ap roprIate for the normal use and m�intenance of the Propert}r. __� _�._
<br /> B.Ex t as previously disclosed and acknowledg�in wdting to Beneficiary,Trustor and every tenant have been, are, -
<br /> `,`;'�; and��ll remain in full compliance with any applicable�nvirorunental Law. _
<br /> `�ti'�� C.Trustor shall immedlately noiify Beneficiary �f a release or threatened release of a Hazardoua Substance occurs on, -
<br /> ., uader or abc�at the Property or there is a violallon of any Eavironmental Law concernlaB the Property. In such an �� �- :;:°�:,
<br />-,. event,T'rustor ahall take all necessary remedial action in accordance with any Bnvironmental La�v. '�. ,
<br /> D.Tzustor shall Immediately notify Benefictary in writin as soon as Trustor has mason to believe there is any pending ,�, �'* �.� v;'
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<br />� ', or threatenecl investigaUon. daim, or proceeding relating to the release or threatened release of any Hazardous �� ;;I:,�" - �
<br /> S�bstance or the violatlon of any Euvlronmeutal Law. •�lrt^',��.�'.r� ' ��`"-1'� •
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<br /> 18. CONDEMNATION.Trustor wUl give Beneficiary prompt notice of any pendin�or threatened action,by Private or�public •: . "'
<br /> - entitics to purchase or tahe any or all of the Property through coademnation,eminent domain,or any other means.1Yvstor � �-
<br /> authurizes Beneficiary to intervene in Trustor's name in any of the ahove described actions or claims. Trustor assigas w ,M•''`..I �
<br />= Beneficiary the proceeds of any awa�d or claim for damages wnnected with a condemnation or other taking of all or any �� .
<br />= pa� of the Property. S�ch proce�ds shall be considered payments and will be applied as provided in this Security .• °
<br /> , Instrument.This assignment u�'proceeris is subject to the terms of any prior mortgage,deed oF trust.security agreement or
<br /> , other lien docmnent. �• �
<br /> 19. INSiJRANCE.Trvstor shall keep k'roperty 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 s6a11 be mainta{ned in the amounts and for the :
<br /> periods that Beneficiary requires. 'Ihe insurance carrier providing the insurance shall be chosen by Trustor subject to '
<br /> Beneficiary's approval. which shall not be unreasonablv withheld. If Trustor faila to xnaineain the coveraoe de�rit� �__ _ �_ - _____
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<br /> ` above,Beneficiary may. at Beneficiary's option,obtaln coverage to protect Beneficiary's ri�ts in the Proper[y according ° •
<br /> to the tem�s of this Securiry Instniment.
<br />- All insurancepo licies and rene�vals sliall be acceptable to Beneficiary and shall include a standard "mortgage clause"and, ' ''
<br /> - where applic:�ble, "loss payee clause." Trustor shall immediately noti�y aeneficiary of cancellation or termination of the "
<br /> insurance. Beneficiary sdall have the right to hold die polic�es and rene�vals. If BEneficiary requims, Tivstor shall
<br /> immediately �ive to Beneficiary ail receipts of paid premiwns and renewal notices. Upon loss, Trustor shal} give
<br /> � immediate nonce to the insurance carrier and IIeneficiary. Beneficiary may make proof of loss if nat made inunediately by
<br /> � Trustor.
<br />_ iIIpnge 3 of 41 �
<br /> C�793a8!nFereSretem�,i�x.,5� Clwa.�1V tl II0079T�23411 FamqE�Or�NE 9i13i90 I � ��
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