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<br /> � 1�. DEFAULT.Tmscor wili be In defmilt if azry party obligazed oa the Secured Debt fails ta malce payment wh�due.Trustor < Y
<br /> � �ciU be in default if a breach accurs under the terms af this Securiry [ascrument oraay other dacument executed for the ., ` f:
<br /> P,�Pose of creating,secviing or guarantyinS the Secured Debt. A gaod faith beIief by Beneficiary that Beneficiary at any �,;{: �.
<br /> ` � nme�s insecure�+ith cespecc to aay ps6all�also con�sa'tute a�n eveat o defa W t�.d D e b t or that ttce pro s pect of an Y P a Y m e nc or . . .
<br /> . � the vaiue of the Property is impaired .,� ., .
<br /> fedxral and state law will require Beneficiary to pravide Trustor with �"`:
<br /> � � ' 15. REIVIEDIES ON DE�AULT. Ia some instaiaces, '�.�, ,�
<br /> ' noace of the right to cute or other notices and may establish time schedutes for fo�eclosurc atxions. Subject to these . . ,
<br /> _._�.� ��. limitations, if any. Beneficiary may accelerue [he Secured Debt and foreclosc this Securiry Inst�ument m a maaner _ --_ .
<br />- ---- — provided by law if Tn�stor is in defauEt. —� .. ---- � -
<br /> i�
<br /> � Ac the option of Benefi 'ary, all or any�art of the a fees aad charges,accrued interest and principal�shall�me . � � ,
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<br /> immediately due and payable. after givmg notice.i�rMuired by law, upon the o�c.vrreace of a defaui y�e
<br /> thereafter. In adduion, BenefrciazY shall be eatitled to all the remedies provided by law, the terms of the Secured Debt, . �`` ; - .
<br /> . . � :` this Security Instrument and any related documents,including without limitatIon,the pawer to seli the Propeity. .�. -
<br /> . • If there ta a defanit,Tnutee shall.in addit�oa to any other permitted remedy, at thetequest of the Beneficiary,advertise � . , :: ��.:'
<br /> . :° and sell the Ptaperty as a who2e or in separate parcels at publis suctian w the tughest bidder for cash aad oon�ey a6solute , ;,:=-a,:�:.�
<br /> .♦(,� atle free and clear of ali right.title and mterest of Tnuwr at such time aud place as Tn�stee designates.TtusteE shall give -__
<br /> t nouce of sale inctuding the hme,terms and place of sale and a description of the proper[y ta be sold as required by the <<�"
<br /> _ IIpplicable law in effect at the time of the proposed sale. , ,_ � =�=��
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<br /> Upon sale of the property�d to the euent not prolu'bited by laa+,Ttustee shall make and deliver a dad to the Praperty , , __
<br /> � sold wlrich comreys absolute dtle to We purchaser, and after fnst paying all fees, chasges and costs, shall paY to
<br /> . • Beuefciaty all moneys advanced for repaus, taxes, insuraace, liens, assess�menu and prior encumbraaces aad mterest • ,_
<br /> � � [hereon, and the rinc�'pal and interest on the Secured Debt, Pa S the surP2�•,if aay, to Trustoz. Beneficiary_may . •,�-�. .�
<br /> , . . . Pnrchase the Propepirty.The recitals ia auy deed of conveyance�pnwa facie evidence of the facts set fortb therem. . � �, --•�`
<br /> ' � - :�, � All remedies are distinct,cumulative and not exclusrve.and the Bensfic'�ary is enritted to ali remedies�rovided at taw or --. - -
<br /> �s
<br /> ' - equity,whether or nat expressly set forth.The m�ptaace by Benefic�ary of aay sum in paysneni or pazual payment on the .;�:i :..`
<br /> Secured Debt after the balance is due or is accelereted or after foreclosute pmceedings are filed sha11 not consstitute a ;`--;�:.��,:.
<br /> � waiver of Benefciary's r�ght to�equire complete cure of auy►e�cisdng defaut� By not exenising any remed7►oa Tn�stor's • �. 'f ;.<<.,,;:�
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<br /> _ . . : ..:, ::, default,BeneficIaty does not waive Beueficiary s right to later consider the event a defauli if it coatinues or happeus again. .
<br /> . '� 16. EXPENSES; ADVANCES ON COVENANTS; ATIORNEYS' FEES: COLLEC'i'ION COSTS. Exoept whea ���=
<br /> , '".� gm i n'bited by law,TnLStor a g rc�e s top a y all of Benefi ' 's expenses if`frustor breaches any covenant in this SecurIry � ����
<br /> I n savment.Trustor will also pay on deman d an}+amoun�b 3+B e n e nci a ry f o r i n s�u i n g,m s p e c t i a g. o r
<br /> .___ � , .� _1 otherwise pmtecting the Properry-aad BeaefIciary's securIty imerest.These expenses will bear mterest from e dateQ t�e �� _ �`��_
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<br /> payment unfi l pai d i a f u ll az t he hn g hest interest rate in effect ag pruvided in t he urnis o f t he S e�u r e d D e b t.7 Y n s t or� .
<br /> . • to p a l l co s t s a n d e x p e a s e s i a c�e d by�B e n e fi c i a ry in.coA e c t i n g, enforcin g or protec�ng Benefictary's righcs and ., !:.==
<br /> ' r�es under this S�cunty Instrumen�This amonnt may�nclude.but is not limited to.attomeys'fees,cmut costs,and <..;;•,�--
<br /> . � other legal expenses. This Securiry Insau�Qnt sbali remain in effea until released. Trustor agrePS co pay for any .���-";
<br /> � , ' recordanon costs of such release. �. .' �;��1'`
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<br /> , . iT. ENVIRONMENTAL I.AWS AND HAZAItDOUS SUBSTANCF.S. As used ia this s�ction, (1) Environmental l.aw -�, �,� ,.:::_-,�_
<br /> � , ' means.withont limitation,the Comprehensive Environmental Response, Corapensation and Liability Aa(CERCLA,42 • . ;::;r_�.�.:•
<br /> U.S.C.9601 et seq.?,a�►d a11 other federal. state and tocal laas. regulations.ordinances, court orders.attomey general , �.:�7•.��;
<br /> o�pinions or interpretive letteis conceming the public health,safety,welfaze.environment or a ha7ardous substance;and(2) _ ���:� ���~'
<br /> Hazardous Substanoz �eans any toxic, radioactive or ha�ardous material, waste. pollutant or contaminant whicb has ``�;;�;��
<br /> • characteristics wluch mnder the substanre dangerous or patentialIy dangeravs to the public health, safety, welfaze or .-,��:
<br /> �� � envimnment.The term includes, without limitation,aay substanccs defined a4'hazardous material," 'toxic substa3�es.' ��_ � -.a.�
<br /> ., . "hazardous waste"or"hazardous substance'under aay Environmcntal Law. � • �;:R�
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<br /> . Trustor represents.warrants and agees that: � '�;.'
<br /> � A.Except as previously disctosed and.acknowledged in writing to Beneficiary,no Haaardous Substance is or will be - __ _
<br /> lacated, stosed ar rel�on or in the Property.7tis resaicUon does not app2y to small quanaties of H�ardous • _
<br /> � Substances that are geaeraliy recognized to beappmpriate for t he ao r m a l use aa d m a i n t e a a n c c o f t he Pro p e rt y. , � •� ,�:
<br /> . B.Ex t as previausly disclosed and aclmowtedged in writing to Beneflciaty,Tntstor aad every tenant have been,are, • ,.
<br /> • �. and�all remain ln full corapliancc wlth anyapplicable Environmental Law. � _
<br /> �� G Trustvr shaU immed:atxly notify Beneficia�+if a release or threatened release of a Hazardovs Substance occurs on, ,
<br /> � , under or aL�e��e�or there is a vcolation of any Envlmnmeatal Law conceming the Property. Ia such an ' : . .
<br /> event,Truscer s�alt take al necessary remedial action in accordance wi[h any Eavironmental Law. . •. .
<br /> � ' D.Tn�stor shall immediately uoNfy Beneffciary in writing as soon av Trustor has reasas to believe there isa�ry peading -
<br /> ' . ' or threatened investigatiom, claim. or pmceeding relating to the release or thr�ened release of any HaTardous , , : .
<br /> Substance or the violation of any Environmental Law. . ' •
<br /> 18. CONDEMNATION.Trustor will give Beneficiary prompt notice of any.pending or tUrreatened action.by prlvate or public � �
<br /> '- ' entities to purchase or take any or aU of the Property through condemnatton,eminent domain.or aay ot3�er means.Trustor
<br /> ' authorizes Beneflciary to intervene in Ttustor's name in any of the above described actions or claims. Trustor agsigns to
<br /> ' � BeneficIary the pmceeds of any award or claim for damages wnnected arlth a condemnation or other taktng of all or azry
<br /> part of the Property. Such proceeds shall be considered payments and will be applied as provided in this 5ecurlty :
<br /> instrument.This ass�gnmcnt of prnceeds is subject to the terms of any prior mortgagc.deed of trust,securiry agreement or •
<br /> � ' other iien document. � �
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<br /> � 19. INSi1MNCE.Truscor shall keep Property insured against toss by fire,ftood,theft and other haxards and risks reasonably . -
<br /> � associated with the Properry due to itsryp e and lacation. Thls insurance ahall be maintained in the amounts and for the
<br /> periods that Bcneficiary rec�uires. Thc tnsurance carrier providing the insurance sha11 be chosen by Tnutor subject to . � .
<br /> Beneflciary'sapproval, which shall not be unreasonably withheld. lf Trustor fails to maintain the coverage described '
<br /> . above,Benefici-ary may,at Beneficlary's option,obtain coverage to protect Beneficiary's rights in the Property according
<br /> ,. to the terms of th�s Security Instrument. '
<br /> All insurance policies and cenewals shall be acceptable to Benefsciary and shali include a standard'mongage clause°and. '
<br /> where applicable. "loss payee clause."Trustor shall immedlately noti Beneficiary of cancellatian or termmatton of the •
<br /> -�" ` insnrance. Beneficiary shall have the right to hold the polic�es an�renewals. If Beneficiary reqoires, Trustor shall • '
<br /> ' . � immediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss. Trustor shal! give
<br /> immediate notice ro the insurance carrier and BeneCcfary.Beneficiary may make proof of lass if not made immediately by
<br /> Trustot.
<br /> . � � lpage 3 ot 4) : �
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