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<br />--------�- •�-�,=` executed far the putpose af creating.securing or guarnntying the Secured Debt.A good ta��belief by Lxnder that = ___R_:_ ___'
<br /> s-�, '-�=--=� Leacler at any lime is insecure with sespcd do any pesson or entity obligated on the Secured Deht or that the prospect _ _ ______ .
<br /> � � of any paymeat or the value of ihe Property is impaired shatl also constitute an e�ent of default. � .�" � �.'
<br /> ` . � 1$, REMEDIES ON DEFAULT.Is�some instances,federal and state law will require Lender to pmvide Grdntor with � � � �..�
<br /> notice of the right to cure ar other notices and may establish time schedules for foreclosure actions.Subject to these � . ,
<br /> ` . limitations,if any,Lender may accelerate the Secured Debt and foreclose this Security Instrumcnt in a manner ": .� , ,
<br /> , ' . provided by law if Grantor is in default. , ' .
<br /> , .. Y.` At the option of Lertder,all or any part of thc agreed fees and charges,accrued interest and principal shaD become � , ,-
<br /> . _�-��:_ immediately due and payable,after giving notice if required by law,upon the accurreace of a default or anytime ;
<br /> - ._ � - thereafter.Ia addition,Lender shall be entided to all the remedies provided b}law,the tertns of the Secured Deb� _
<br /> -- ---- this Secarity instrumeat and aay related doct�menfs,including tivithout limitation,the power to sell ihe Property. :...t,:
<br /> � • ' If there is a default,Trustee shall,in addition to any other permitted remedy.at the request of the Lertder,advertise _ _ ..' . � �
<br /> . ` and seU the Property as a whole or in separate parcels at public auction to the highest bidder for rash and convey . '
<br /> � . �. absolute tiile free and ctear of all righ�title and interest of Grantor at such time and place as Trustee designates. �
<br />- - • • Trustee shall give nouce of sale including the time,termc and place of sale and a desetiption of the property to be sold `: �:�. :<�
<br /> � � as required by the applicable law in effect at the time of the proposed sale. •� = _
<br /> " , Upon sale of the property and to the extent not prohibited by taw.Tnutee shall make and deliver a deed to the Property .�. .� �'�Y
<br /> ' , sotd which conveys absolute title to the purchaset,and after fust paying all fees,charges and costs,shall pay to Lender all . ... _
<br /> °. :.�.,°`;; -'
<br /> � � - moneys advanced for repairs.taxes,insurance,liens,assessments an d prior encum brances an d in te r e s t t h e reo n,an d t h e , -;.,• ..
<br /> , � � ' principal and interest on the Secured Debt�payiag the surplus,if any,to Grantor.Lender may purchase the Property. ,.�-��-�
<br /> _ 'Ihe recitals in any deed of conveyance si�all be prima facie evidence of the facts set forth therein. •. ��
<br /> '�, , _ AU remedies are disUnct,cumulative and not exclusive,and the Lender is entided to a{I remedies provided at law or , =
<br /> � equily.�vhether or not expressly set forth.The acceptance by Lender of any sum in payment or partial payment on the �e ;": '', ' ��`
<br /> -�- ` � Secured Debt after the b31ance is due or is acceierated or after forectosure pmceedings aze filed shall not constitute a �.l"� ,,'.;�::_-
<br /> ' � . � waiver of Lender s right to require complete cure of any etcisting default.By not exercising any remedy an Grantor s :J:�
<br />_ ;"` �`•� default,Lender does not waive Lender's right to latcr wnsider the event a default if it cont'snues or happens agaia _ ._'��;.r:�€_`;
<br /> � �� 16. EXPENSES; ADVANCES ON COVENANI�; ATTORIVEYS'FEES;COLLEC170N COSTS.Except when ��_.
<br /> � prohibited by law.Grantor agees to pay all of Lender s expenses if Grantor breaches any covenant in this Security �� , � .�,Y;
<br />� Instrument.Grantor wi U a l so pay on dema n d a n y a m o u n t i n c u r r e d b y L e nder for insurin g,i n s pectin g,preservin g or " � " <.°,•::.
<br /> � othenvise protecting the Praperty and Lender's security interest.These expenses will bear interest from the datc of ����" � `�=�- `
<br /> ::A''�::;i.
<br /> _ "., ° the pay[nent tmtil paid in full at the highest interest rate in effect as provided in the terms of the Secured Deb� ..�a,,,,_::"�:_--=•'
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<br /> • . ' Grantor agrees to pay aU cosis and expenses incurred by Lender in collecting,enforcing or protecting Lender's rip�ts ':'��,�.��
<br /> ' and remedies under this Security Instrnment.'[1»s amount may inclade,but is not limited to,attorneys'fees,coun -=-��'
<br /> �� � �.. ,r.,-:
<br />;r' • � costs,and other legat expenses.This Security Instrumcnt shall remain in effect until released Grantor agrees to pay �•'°;�"�,�`:
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<br />,. . ' for any recordation costs of such selease. �":�?��� -
<br /> � 17. EN�IRONMEIVTAL LAVVS AND HAZARDOUS SUBSTAIYCES.As used in this section,(1)Environmental Law .�.��.�,•
<br /> - . � � ' means,without limitation,the Comprehensive Environmental Response.Compensation and Liabiliry Act(CERCLA, •� '�� -'�-
<br /> : ,,.;�:�_.:�„?;;,�
<br /> ' 42 U.S.C.9601 et seq.),and all other federal,state and local laws,regulations,ordinances,court orders,attorney : ,�
<br /> _ r general opinions or interprepve leiters conceming the public health, safety,welfare,environment or a ha•rardous _ •�°�"���:_
<br /> � ' �` substance;and(2)Hazardous Substance means any toxic,radioactive or hazardous material,waste.potlutant or � � '�•��.;:
<br /> - � - - contaminant which has characterisiicx whicfi render 1he substance dangerous or potentialty dangarous to tbe public . '.=�'-,r,,'-1�--_
<br /> �:
<br /> � .� health,safety,weffare or environment.The term includes,without limitation,any substances deCtned as"ha�ardaus "•��;•_�,
<br /> ` • material,""toxic substances.""ha•rardous waste"or"ha�ardous substance"under any Environmental Law. - .—:_F'=;
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<br /> • . Grantor represcnts,warrants and agrees that: � ' ;a,�•
<br /> � ' A. Excc�pt as previously disclosed and acknowledged in writing to Lender.na Hazardaus Substance is or will be � :::,-^*��-�`
<br /> - � � � ' � located,stored or released on or in thc Prope:ty.This restriction does not apply to smalt quantities of . .3,�
<br /> � ' Hazardous Substancc:s that are generally recognued to be appropriate for the normal use and maintenance of • .
<br /> . ' . thc Property. • '�:-.�
<br />_' B. Except as previously di�closed and acknawledged in writing to Lender.Grantor and every tenant have been,aze, � �'"
<br /> . . '..� and shall remain in full compliancc with any applicable Environmental Law. ,
<br /> . .i C. Grantor shall immediately notify Lender if a release ar threatened release of a Hazardous Suhstance accurs on.
<br /> � � under or about the Property ar thcre is a violation uf any Environmental Law conceming the Property.In such
<br /> . � an event,Grantar shall take all�iccessary remedial action in accordance with any Environmental Law. - .
<br /> � • � � D. Grantar shall immcdiately noti(y L.cndcr in writing as soan as Grantor has reason to believe thcrc is any
<br /> � pending or threatcnul investigation,claim,or procecding relating to the release or thrcatened release ot any . .
<br /> '�j .'. � ' Ha7.ardous Substanct:ot ihe violation of any Environmental l.aw. . .
<br /> 18. CONDEMNA770N.Grantor will give l,cndcr prompt noticc af any pcnding or thrcatened action,by private or �• �� •� ..
<br /> . . public cntities to purchasc or takc any nr all of thc Property through condcmnativn,cminent domain,or any athcr •� �.
<br /> ' mcans.Grantar authori•r.cs U:ndcr to intcrvcnc in Grant��r's namc in any of thc abave dcscribed actions ar cluims. _ .
<br /> , � Grantor assigns to[.ender the proceeds af any award or claim for damages connected with a condemnation or other
<br /> • taking ot all or any pan of the Property.Such pracecds shall hr ccrosidcrcd paymcnts and will bc applied�s provided in
<br /> ' this Security Instrument.This assignment c�f procecds is subject t�the ierms of any prior mortgage,deed of trust. •
<br /> " security agreemenl or other lien document.
<br /> � �� 19 INSU[dANCE.Grantor shall kcep Property insurcd against loss by firc, flood. thcft and uthcr ha�ards and risks : • .
<br /> ' � reasnnably nssociated with the Prc�perty duc to its type and lucatiun.This�usurance shall be maintained in the amuunts .
<br /> -��:-.. ' � an�fur tl�c p�riuds that L.:ndcr rcyuires.The insurance carrier proviJin�the insurance tihall he chosen Hy Grantur , '
<br /> subjcct to I.i:ndcr�approval,which shall not hc unmas�mahly withhcld. If(�rantur failti to maintain thc cuveragc
<br /> , . described ahove.Lc:ndct may,at l.endcr's option,uhtain cuveragc tu prutrct L�:nder c rights in thc Property according .�
<br /> ' , to thc tcrms af this 5ccurity Instrumcnt. . .
<br /> � All insurancc pulicics and rencwal��hall hc acccptahlc tu I.�ndcr anJ shall includc a standard"mortgagc claus."and. � , �
<br /> ; �vhete applir�ble."loss paycc clausc."(irantor shall immediatcly nutify l.ertder of cancellation or temiinatiun of thc „
<br /> ., � insur,mcc.ixndcr shall havc thc right t��h��ld thc p��licics and renewal5. If lw:ndcr nquires.C;rantor shall immcdiatcly � �I•
<br /> �;ivc to lAndcr all reccipts o(paid prrmiums and mncwal nuticcs. llpon loss.Cir�ntnr shall givc inymcdiatc no�icc tu
<br /> . � thc insurancc carrirr�nJ Lcndcr.Lcndcr may makc proof c�F lo�.ti ii nnt madc immcdiatcly hy Ciramor. .
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