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<br /> ` - .-� -- executed for the pwpose of creating,securing or guarantying the Secured Debt.A good faith 6eGef by i.ender titat - -�=``-�=�===
<br /> . � Lender at azry tirr►e�s ins�ure with respect ta any persnn or entity obiigated on the Secured Debt or that the prospect �`�����+.=� � �� -�:�`.
<br /> . ` of any payment or the value of the.Property is impaired shall also cons6tute an event of defaul� � . '
<br /> � � : LS. REMEDIES O1V DEFAULT.In some instances.federal and state law will require Lender ti�provide Grantor with ,;�;° .' ' � '
<br /> � • ' notice of the right to cure or oth�r noticxs aad may establish time schedules for foreclosun actions.Subj�t to these �
<br /> ' � limitations,ff any.Lender may acceterate the Secured Debt and forectose this Security Instrument in a manner ' `_
<br /> ' ' provided by laN if Grantor is in default. ' : .
<br /> , . At the oprion of Lender,ali or any part of the agreed fees and charges,accrued interest and principal shaA become `' 4<=' - -.
<br /> - � "' immediately due and payable,after giving nouce if required by 1aw,upon the occurrence of a default or anytime .
<br /> --�%�=- thereafter.In addiqon,Lender shall be entitted to al!the remedies provided by law.the terms of the Secured Deb� ' .
<br /> -.". ", `�'`� ti�is Security Instrument and any retated daciunents,inciuding without limitatiun,thr power to seil the Prvperiy. ''-
<br /> • ". "��,;'• If there is a default.Trttstee shall,in addition to any oiher permitted remedy,at the reyuest of the l.ender,advertisc :
<br /> , � � �: and seU the Property as a whole or in separate parceLs at public ancpan to t6e tug6est bidder for cash and convey � �
<br /> • ` , absolute title free aQd clear of all righ�dtle and interest of Grantor at such time and place as'frustee designates. . . • �'��
<br /> � � ;;�� Trustee shall give notice of sale including the time,terms arid ptace of sate and a descriptian of thc prupurty io he sutd � ,. � "' `- -
<br /> � .' ��• : as required by the applicable law in effed at the time of the proposed sale. , �.
<br /> � '''� Upon sate of the property and to the extent not prohbited by law,Tr�stee shali make and deliver a deed to the Property _. . _
<br /> � sotd which conveys absalute title to the purchaser,and after Cust paying all fees,charges and costs,sflall pay to Leader all � 's,-,�.;' " -
<br /> ' :� •� moneys advanced for repaus,taxes,insurance,liens,assessments and prior encumbrances and interest thereon,and the � r..: �::_��"::�-=
<br /> - � principal and interest on the Secured Debt,paying the surplus,if any,to Grantor.Lender may purc{ease the Property. �. ". , :;��;;;;:�
<br /> � ; The recitals in any deed of coaveyance shall he prima facie evidence of the facts set forth therein. • -__
<br /> ` • All remedies are distinct,ctunulative and rtnt exclusive,and the I.ender is entitled to all remedies provided at law or �,
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<br /> equity,whether or not expressly set forth.'Fhe acceptance by Lender of any sum in payment or partial pay�nent on the �
<br /> � . . . , Secured Debi after the ba3ance is due or is accelerated or after forectostrre proceedings aze Sted shall not constitute a ---
<br /> , waiver of Lender's righ�to require complete rure of any existing defatil�By not exercising any remedy on Grantor's , ''�;���-
<br /> ' - - • � default,Lender daes not a�aive Lender's right to later consider the event a defauit if it con6nues or happens again. •- �--'��
<br /> � 16. EXPEN3ES;AIDYAI�ICES ON COVENANfS;ATTOR1e1EYS' FE�S;COLLECrdON COSTS.Except w�en ' . �
<br /> prodibited by law,Grantor agrees to pay all of Lender's expenses if Grantor breaches any covenant in this Sewrity ."�'', �e'-
<br /> . iMti.""a��._;_
<br /> . � Instrument Grantor a�ll also pay on demand any amount incurred by Lender for insuring,inspecting,preserving or � �� �-4^.•f
<br /> ' othenvise rotectinQ the Pr e and Lender's securit interest.These ex enses wiU bear interest from the date of • � '"'�` '�-
<br /> . _;.: p b aP rtY Y P s,.. y�t:---;';
<br /> -. r"°� "' -"�'`` tfle payment until paid in full at the highest interest rate in effect as provided in the temis of the Secured Debt - '. ' =�°-+a
<br /> ^���n:;-
<br /> . Grantor agrees to pay all costs and expenses incurred by Lender ia colleding,eaforcing or protecting Lender's rights '� `� ..�,...—..,_
<br /> ',r`:; and remedies under t�s Security Instrument.This amount may include,but is not limited to,attomeys fees.court ;- ,:. � '�;=Y��:�"
<br /> ' ` costs,and other tegal expenses.This Security Instrument shall remain in effect unu7 reteased.Grantor a�ees to pay s=�'��"-'�'
<br /> � , . for any recordation costs af such release. ' ...:.-„�!�;:
<br /> � � ' 17. ENVIptO�IMENTAL LAWS AND HAZARDOUS SUBST�leCES.As used in this section,(1)Environmental Lact ;�}�;.:
<br /> . .'��i.. ' ' means,without limitation,the Comprehensive Environmentai Response.Compensation andLiability Act(CERC`i.A, > ,;l�{�;s:=��;
<br /> t - ' . � 42 U.S.C.9&i�l et seq_).and all other federal,state and local laws,regulations,ordinances, court orders,attorney .'<;it.,;;` ..;,;.?^"��
<br /> ; �;,1 general opinions or mterpretive letters concerning the public health,safety,welfare, environment or a hazardous ., . _=.j.:�.;:;
<br /> � � • :,:`;,',; substance:and(2)Hazardous,Substance means any toxic,radioactive or hazardous material,waste.pallutant or �' q.,•: . . :_�•__�
<br /> - - ' � s' contaminant which has characteristics which rendeT the substance dangerous or poteatialty dangerous to the public �= '_�-==�
<br /> • ' ? he�altb,safety,weffare or environment.The term includes,w�thout limitation.any substances defined as"ha't.ardous � - '��•;:�.,«L:::-
<br /> . `� material,""toxic substances.""hazardaus waste"or"hazardous substance"under any Enviranmental Law. '
<br /> � � . Grantor represents,warrants and agrces that: , ��'�~'=Y�=�
<br /> . • ���' A. Except as previously disclosed and acknowledged in a�riting to Lender.no Hazardous Substance is or will be '`" '.s-` •:�� '�
<br /> . � � located.stored or released on or in the Praperty.Tmis resiriciion does not appty to small quantities of - . �, �;
<br /> � Hazardous Substances that are generally recagnized to be appropriate for the normal use and maintenance of —
<br /> . � : the Property. ' . �'
<br /> � � ` B. Except as previously disctosed and acknowtedged in writing to Lender.Grantor and every tenant have been,are. � , � �.
<br /> " ' � and shall remain in full compliance with any applicable Environmental Law.
<br /> � � ? C. Grantor shafl immediatety notify Lcnder if a rnlease or thrcatened release of a Hazardous Substance occurs on. '� �.
<br /> � under or about the Property or there is a violation of any Environmentnl Law cvnceming the Property.In such . '�_ =
<br /> . • • an event,Grantor shall take all necessary remedial artion in accordanr.e with any Environmenta!Law.
<br /> -_ � . D. Grantor shali immediately notify Lender�n writing as soon as Grantor has reason to het:e.e therc is any �� � �
<br /> • pending or threatencd investigation,claim,or proceeding rclating to the release or ihreatcned release of any '•.'�,. . '•
<br /> . • : Hazardous Substancc or the vialati�n of any�nvironmcntal Law. . • �
<br /> . " .' 1& Ct?NDEMNATtON.Grantar wiU givc Lender prompi noticc oi any pending or threatened action,by private or � _.� `�
<br /> • ; `: public entities to purchase or take any or afl of the Property through cnndemnation,eminent domain,or an}r other " ��. , .
<br /> ' . mcans. Grantar authorizes L,ender to intervene in Grantoi s namc in any of the above dcscribed actions or claims. ' .
<br /> • Grantar assigns to Lendcr the proceeds of any award ot claim for damages connected with a wndcmnation or other
<br /> ' ' _ uikin�;�,f all��r:my part nt thc Pmrrrtl•.tiurh�r�urrdc tih.�ll hr cnntiidcrrd pn��mcntti:ind will hc aprlicil:iti pru�•idrd in .
<br /> ' th�s Sccurity lnstrumcnt.7 his assi�;nmcnt of pr��ccc�ls is wbjcct tu thc turuis ut any priur nwngagc,dccd ut trusi. .
<br /> , security agreement or other lien docnment. .'
<br /> 19. INSURANCE.Grantor shall keep Property insurcd against Inss by fire,ilood,thcit and other hazards and risks
<br /> �� • rcasonably associated with the Property due to its t}rpe and location."This�nsurancr shall be maintained in the amounts ... .
<br /> • and for thc periods that Lcndcr rcyuircti.Thc insurana:carricr praviding thc insurancc shall bc choscn by Grantor -
<br /> � subject ta Lender's approval,whieh shall not be unrcasonably withheld. Ii Grantor fails w maintain the coverage ' ' _
<br /> dcscrihcd ahovc,lAndcr may.at l.cndcr's option,ubtain covcragc tu prc�tect l.�ndcr'�rights in thc Prc�perry accarding •
<br />, . to thc tcrms of this Sccurity Instrument. •
<br /> � AU insurance pnlicies and renew�ls shall he acceplaHle to l.�nder and shall include a�tandard•'mi�rtgagc clati.c"and. . •
<br /> : `� where applicaMe."l��ss payee clau�:e."(�ramor�hall immediately n��lify l.ender uf cancdlaliun i�r termination of the ' •
<br /> � intiuranrc.t.�ndcr shall havc thc ri�ht to h��ld thc p��lici�w and rencw:d�.if Lcndrr rcyuires,(irrntor shall immcdiately , •
<br /> 4 give to i.i:nder all reccipts of paiJ prcmiums:�nd renc�a•al nutices,l lpon lovs.(iramur�hall give immediate notice to : � • :
<br /> thc insurance carrict and L,cnder.Lender m,�y makc pruaf��f lu�s if nol madc immediat�ly hy(;raninr. " • .
<br /> ' lPage 3 0l 4) �
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