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<br /> - ---� -- -- executed for th�pucpose of creating.secaring or guarantY'ng the Secured Debt.A good fait6 be[ief By Lendcr that ---=�=ti,c`�:
<br /> � . � `� [.en der at any time is insecure with resPect to any pe:son ar entity obligated on the Secured Uebt or that the prospect . :'s t,'-�.--.
<br /> ' � `Y' - of any payment or the value of the I'roperty is impaired shall alsa cbnsUtute an event of default • _ , -
<br /> � 1,5, REMEIDIES ON DEFAULT.In some instances.federal and state law wiU require Lender to provide Grantor with � . . :,;••.
<br /> - notice of the right to cure or other notices and ivay establish tnue schedules for foreclosure actions.Subject to these , � � `�
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<br /> : � � limitarions,if any,Lender may accelerate the Secured Debt and foreclose this Security Instrumeat in a manver ;� : �;
<br /> � provided by Isw if Grantor is in defautt. �
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<br /> ; ���-- At the option of Lender,all or any part of the agreed fees and cdarges,accrued interest and principa!shall bemme ,
<br /> - " - immediately due and payable,after giving aotice if required by law,upan tbe occurrence oi a default ar anytimc . ,
<br /> - - thercafter.In addition.Lender shaU be entitled to ali ttte remedies provided by law,the temu of the Secured Debt,
<br /> , this Security inswment and any related documents,including without limitation,the power to seil the Pruperiy. „- , .-
<br /> If there is a defaul�Tmstee shall.in additian to any other permitted remedy,at the request of the Lender,advertise -
<br /> • - ` and sell the Property as a whale or in separate pazcels at public auction to ihe highest bidder[or cash and convey , .- ; �
<br /> ,�° a b s o l u t e dtle free and clear of all right,tide and mierest of Grantor at such time and place as Trustee designates. _ �. . . ,
<br /> � � . - � Tnutee shall give notice of sale including the time,tern�s an d p i ace u f s a te a n d a d e s c r i p t i o n o f t h e p r o p e r t y t o b e s a(d ,
<br /> �,•- .. `�
<br /> ' � . as required by the applicable!aw in effect at the 6rne of the proposed sale. -
<br /> '`� Upon sale of the praperty aad to ttte extent not profiibited by law,Tnntee shall make attd deliver a deed to the Property -::, ;.
<br /> � sold whic�h conveys absolute tide to the purchaser,and afEer first paying all fees,charges and cosis.shall pay to Lender all s'. , �"}., :,_
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<br /> "� , . ' �'_..`i moneys advanced for repairs,taxes.insurance•liens,assessments and pnor encumbrances and interest thereon,and the
<br />_ f� ,; the s lus,if an ,to Grantor.Lender may purchase the Property ,. �� �`�-_-
<br />- principal and intenest on the 5ecured Deb�paying urp Y , . _
<br /> - • The recitals in any deed of wnveyance shall be prima facie evidence of the facts set forth therein. F
<br /> All remedies are distinct.cumulative and not exclusive,and the Lender is entitled to aU remedies provided at law or ``�., , ;: i'
<br /> �.` equity.whether ar not expressty set forth.The acceptanca by Lender of any sum in payrnent or partia]payment an the 4 _�,,: .:. .:.,•w __
<br /> ' � Secured De bt a f ter the balance ts due or is accelerated or after foreclosure praceedings are 51ed shaU not wnstitute a : � -. •..:::'°-
<br /> -- =�� waiver af Lender's right ta require complete cure of any earisting default By not exercising any remedy on Grantor's ._ ;, , �=-
<br /> '--- �- default,Lender does not waive Lender s nght to later consider the event a defauit if it continaes or happens again. �����r�: •.��
<br /> ` ' lie. EXPENSES;ADVANCES ON COVENANTS;ATTORNEYS'FEES;COLLECI'ION C05TS.Except when �<<.
<br /> ` prohibited by law.Grantor agrees to pay a11 of Lertder's expenses if Grantor breaches any coienant in this Security ' � ;:�7_
<br /> ' " ` Instrumen�Grantor wiU also pay on demand any amount incurred by I.ender for insuring,inspecting,preserving or � _
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<br /> � � � othernise protecting t6e Property and l.ender's security interest_These expenses will bear interest from the date of ;N_u: ,,��-
<br />_��� � the paymeat until paid in fuq at the highest interest rate in effect as provided in ihe terms af the Secured Debt . . ;.-;�-
<br /> �� � � Grantor agrees to pay all oosts and expenses incurred by Lender in collecting.enforcing or protecting Lender's rights _ __
<br />.'`.'�� ' and remedies under this Stcurity Instrument.This amount may indude,but is not fimited to,attorneys'fees,cauri �
<br /> • � • .:.':;, costs.and other legal expenses.This Security Instrument shall remain in effect until released Grantor agrees to pay ' �� -
<br /> .: • . � for any recordation costs of such release. _ . . !'-
<br /> � .s;: 17. �NVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES•As used in this section.(1)Environmenta!Law :•� ��
<br /> ' ' ' means.�vithout limitation,the Comprehensive Environmental Response.Compensation and Liability Act(CERCI.A, ;,;;:;�::
<br /> ' ' 42 U.S.C.9601 et seq.),and all other federal,state and tocal laws,regulations.ordinances,court orders, attomey � ��.,,��-.
<br /> general opinions or interpretive letters conceming the public heaith.safety,welfare,eavironmeni or a hazardous ._ �_::.�
<br /> -� �.':t` substance:and (2)Hazardous Substance means any toxic,radioactive ar hazardous material. waste,pollutant ar :��W.
<br /> c: contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public • ; �,::_.��.
<br /> � health,safety.welCare or emironment.Thc term includes,without limitation.any substances defined a5"hazardous . ., -=;�' '
<br /> ' "' "'` material,""toxic substances.""hazardous wast="or"hazardous substance"under any Environmental Law. �';;tr?'_
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<br /> • ' Grantor represents,warranu and a�rees that: � �. . '"a'"
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<br /> �-�� . A. Except as previously disclosed and acknawledged in writing to Lender,no Hazardous Substance is or wiQ be , __
<br /> � • � lacated.stored or reteased on or in the Property.'fhis restriction does not apply to small quaatities of _ _
<br /> . _ Hazardous Substances that are generally recognized to be appropriate for the normal use and maintenance of .•_�:,;�:_-
<br /> ,. the Property. . . �
<br /> , . ' ' ' B. Except as previously disctosed and acknowledged in writing to Lender,Grantor and cvery tenant have been.are.
<br /> ' � ' � and shall remain in fuil compliance with any applieable Environmenlal Law. .
<br /> � C. Grantor shall immediatcly notify Lender if a release or threatened release of a Hazardous Substance occurs on. . • __.
<br /> under or about the Praperty ar there is a viofation of any Environmental Law concerning t hc P roperty.In such ..
<br /> • ' � � an event,Grantor shall take all necessary remedial action in accordance with any Environmental Law. � - .
<br /> ' � � D. Grantor shall immediately notify Lender in writing as soon as Grantor has rcason to believe there is any .. .
<br /> � • pending or threatened investigatian,claim,or proceeding relating to the reicase or threatened release of any .
<br /> - � Hazardous Substancc or thc violation of any Environmental Law. r `" :
<br /> ' 18. CONDEMNATION.Grantor wip give Lcndcr prompt noticc of any pending or ihreatened action,by private or .
<br /> � public entitics to purc hase or ta ke any or a l l a f t h e P r o p c r t y t h r o u g h c o n d e m n a t i o n,e m i n e n t d o m a i n.or an y othcr � �
<br /> � mcans.Grantor authorii.es Lender to intervcnc in Grantor's namc in any ot the abovc dcscribed actions or claims.
<br /> • � Grantor assigns ta l.cnder thc proceeds of any award or claim far damages connected with a condemnation or other •�
<br /> taking of all or any part of the Property.Such proceeds shall be tansidered payments and will he applied as provided in . . � . .
<br /> . ' ' this Sccurity lnstrumcnt.This assignment of procccds is subject to the terms of any prior mortgage,deed of trust. .
<br /> security agreement ur other lien document. , � .
<br /> ��.'. 19. INSURANCE.Grantar shall kecp Propeny iasurcd against loss Hy fire, flood. theft and other hazatds and risks •
<br /> ;t rcasonabiy associatcd with thc Propcny duc tn it5 type end location.This�n�urance shall be maintaincd in thc amounts ;. .
<br /> •. � and for the peric�ds ihrt Lc:nder requires.Thc insurancc: carrier providina the insurancc:shall be chosen by Grantor ,
<br /> • subject to l�:ndcr's approval,which shall nol he unteasonably withhcid. If Grantor fails ta maintain the coveragc
<br /> � descrihed ahc►vc.i.ender may.at Fxndcr's option,obtain c�werage tu prutcct l.ender's rights in the Properly according .
<br /> ta thc icrms of this Sccurity Instrument. . .
<br /> � Ati insurance p��licies and rencwals shall hc acccptablc to l,cndcr and shall includc a standard"mortgagc cl��usc"<md. .
<br /> •�• • when appliwhle."loss paycc clause."(irantnr shall immediately notify I,cndcr ot cana:llation c�r termination uf Ihc
<br /> � � 3 insurancc. l�:ndcr shall havc the tight to huld thc policics and renc�vals. If l�ndcr rcyuir�w.(irantur shall immcdiatcly •
<br /> � � givc to Ixnder all receipts v(p�iJ premiuma and ren�wwal�tutices.lJpun loss.Gramur shall give immediate noticr tu
<br /> � the in5urancc carrirr and 1 xnder.l.a:nder may makc proof of Ioss it not made immediatcly hy Grantor.
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