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<br /> � 14. DEFAULT.Tnutor w�l be in defavlt if any party o6ligated on the Secured Debt fails to make payment when dae.Tn�swr
<br /> , e
<br /> • , ; � will be 9n default if a breac�occuis under the termi5 of this Security lnstrument or any other document executed for the � ,
<br /> puipose of c�eatin$.sec�g or gasrantying the Secured Debt.A goad faith belief by Seneficiary that Beaeficiary at any
<br /> t�me�s u�secur�wwith respect w eay petsaa or eat�►obligated on the Secured Debt or t�at the prospect of any payinent or , , �
<br /> ' the vaIne of the Pmperty cs impaued sha11 also wnstitute an event of default. � ,.- � � ,..
<br /> 15. R�DIES ON DEFATTL'd'. In some instances,federal and state!aw arill require Beneficiary to provide Trnstor with ,. •< <•
<br /> ,. nouce of the right to caue or other notices and may estabtish tune schedules for foreclostue acuons. Sub�ect w these � .. .
<br /> , _ limitations, if any, Benefcciary may accelerate the Secured Debt and foreclose this Securiry Insaument m a manner - • .
<br /> � • provided by law if Tmstor is in defauli. . .
<br /> . . At the option of Bene ary all or any�art of the a�ed fees and charges, accrued interest aud princ�"pal sha116ecome - ,---;=`.�•—:;"
<br /> th�ydue and payabie, after givwg notice i� rMuired by law, upon the ocamence of a defauit or anytune �.� ,
<br /> In addition,Benefrc�ary shaU be entitled to all the remedies provtde�by law,the terms of the Secured Debt,
<br /> - , this Secauity Instrumeni and any related dnc�ments.II1CIIIa1IIg W1t�iD1II IIIIIIt2210A,the power to sell the Properry. . . ,. .
<br /> If there is a default,Trustee shall,ia addiaon to aay other permitted r+emedy,at the est of the Beneficiary,advertise -'-'�:: ...,� �,
<br /> and sell the Property as a whole or ia separate parcels at public auction to tlie highest b�der for cash and convey absolute . .
<br /> tide free and ctear of all right.tide and wterest of Tn�stor at such time and place as Tivstee designates.Trustee shall give
<br /> , notice of sale including the time,teans aad place of sale and a description of the property to be sold as requited by the . •
<br /> ` applicable law ia effect at the time of the pmposed sale. .. . :..��
<br /> � LJpon sale of the praperty and to the eueni not prolubited by law,Tn�stee shall make and deliver a deed to the Progerty . �. �' �
<br /> ' s o l d w l u c h o o n v e y s a b s o l u t e t i t t e w t h e p u r c h a s e r, a n d a ft e r f u s t pa y i n g aU fee.s, char ges and costs, sha11 F a Y to '. • .> •:<3 =
<br /> � Benefiaary all moneys advanced for repaiis, taxes, insivance, lieas, assessmenrs and prior encumbrances and wterest `�' �."�:
<br /> , .� 1 thereon, and the pr�nc�pal and interest on the Secur�d Debt, PaYing the snrplus, if any, to Tr�swr. BeneflcSary_may .,:�='.
<br /> puccI�ase the Property.'tlie recitals in any deed of coaveyaace shall be prima facie evcdence of the facts set forth theiem. � �-��.�
<br /> � . _ - "'Y�:.�'�..
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<br /> ; � _ AIl remedies ate distiact,aunulative and not excinsive,an8 the Beneficiary is entided w all remedies provided at law or •'�=:�'
<br /> • �` tonthe ` .'� . �.
<br /> :J� ' . ` equitp.wh�her or not expressty set forth.'Ihe acceptauce by Benefic�'ary of any sum in paymeut or partial paymen . ....:.\,�s� -
<br /> `;>', Secaired Debt aftet the balance is due or is accelerated ur after foreclosure pmceedwgs are fited shall noi cansat�e a . �.�'-
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<br /> ' � waiver of Bene f sciary's ri g 6t to r a{u i r e comptete cute of aa y existing default.By not exercising any reme�lY on TmSWr's ,.:�:.;�a t;;tu.
<br /> ~ defanl�Beneficiary does not waive Beneficiary s right to lates consider the event a default if it contiuues or happens again. _. j _-,;.:.��,
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<br /> '� ' 16. ERPENS�S; ADVANCFS ON COVENANTS; ATTORNEYS' FEES; COLLECTION CU�TS. Faccept when • ��»'w.
<br /> t:. � ,_ rop Inl�ited by law,Tnutor agrees co pay all of Beneficiar�'s expeoses if Tmstor breaches any covenant in this Serurity v
<br /> Insuument. Trustor will also a on demand auy amount incurred by BeneficIary for insvrinp,, inspecting.preserving or ��.� a=:
<br /> � � � otherwise protecting the Property and BeneBciary's security interest.T7tese expenses will bear uueresc from the date of the . , .E:_�_`
<br /> � pa y m e nt unn7 paid�n fuil at the Wghest interest rate in effect as pmvided in the terms of ttte SeLVred Deb�Tnutor �;r� �
<br /> '= a� �1;�:.:
<br /> �`i� . w p aIl custs and expenses incarred by Beneficiary in.coilecung. e n foncing or pro t e�t i ng Bea e fi c i a ry's ri g h t s a n d . . ..i�,�
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<br /> �es under this Secu:ity lnstniment.This amouat may include,but is not llmited to,attomeys'fees,conrt costs,and '•-�:�,��
<br /> ^� . � � other legal expens�s. This Security Insuument s h a ll re►nain in effect uatil reteased. Tn�swr a g r e e s to pay for any . �. ~-:�.;-:'�_:
<br /> f, 1�w
<br /> • recordaaon wsts of snch release. �.;�`-0,';
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<br /> 17. E1WIFtONMENTAL Y.AWS AND HAZAItBOUS S[JBSTANCES. As used in this section, (1) Environmental Law , . .. �`:'"``�:
<br /> -- means,without lunitation.the Com�rehensive Environmental Response,Com�ensation and Liabilicy Aa tCERCLA,42 . :`,,�•i�'°
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<br /> ' U.S.C.9601 et seq.),and all other federal,state and local laws,mguladons.ord'maaces,court ordeis.attomey gene�al .'��;�:_
<br /> � opirrions or interpretive letters wnceming the public health,safety,aelfare.environmeat or a hazardaus substance;and(2) _ .,;:;y�
<br /> - � . Ha7ardous Substance means any toxic, radioacUve or hazardous material, waste. pollutant or wntaminant which has __ ;. .�.:r;_.�-
<br /> characxeristics which render the substance dangerous or potentiaUy daugerous to the public health, safety, welfare or ° •'�:'
<br /> ' . . environment.The term includes,without limitation, anny substances d e fi n e d as"h a z a r dous material," ,•toxic substances." .. .•.��h,'.
<br /> • "ha7ardous waste"or"hazardous substance"under aay Environmental Law. , . 'Y:'
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<br /> • � Trnstor resents,warrants and agrees that: i "� .
<br /> z� � A.Exc�ept as previously disclosed and ac�cnowledged ia writing to Beneficiary. no Hazardous Substaace is or will be • � _
<br /> '. ? l o c a t e d,s t o r e d o r r e l e a s e d o n o r i n t h e P r o p e r ty. 'I h i s r e s a l c t i o n d o e s n o t a pp l y t o s�n a l l q u a n t ides of Hazardous
<br /> `'��_+' Substances that are generaUy rtcogn'sud to 6eapptopriate for the normal use an d maintenance of the Property. • ;
<br /> '-i B.Bx t as previously disclosed and acknowledged in writing to Beneficiary.Tzustor and every tenant have been,are, . ��T> _
<br /> � and�l remain in fiill compliance with any applicable Environmental Law. _
<br /> C.Trustor shaU immediately notify Beneficiary�f a release or t6reatened release of a Hazardous Substauce oaaus on, � .
<br /> under or about the Property or there is a violation of any Eavironmental Law conceming the Property. In such an
<br /> `�},` .� event,TmsWr shaU take all necessary re��dial action in acc�rdance arith any Environmeatal Law. '.' . ' , .
<br />. ; D.Tmstor shall immediately notify.Beneficiary in writing as sooa as Trustor has reason to believe there is any pend'mg •`
<br /> or threatened investigauoa, claun, or proceeding retating to the release or thrratened release of any AazaPdous '�'� •
<br /> �� Snbstance or the violation of any Environmentai Law. ,
<br /> ;-.� � 18. CO�'DEMNATION.Tnutor will give Beneficiary prompt notice of any pending or threatened action.by private or public ' ' �, :
<br /> entities to purchase or take any or all of the Properry through condemnauon,emment domain,or any other means.Trustor
<br /> . I authorizes Beneficiary to intervene�n Trustor's name in any of the above described actions or claims. Trustor assigas to _ .
<br /> i Beaeficiary the proeeeds of any award or claim for damages connected with a condemnation or other taking of all or any . •
<br /> :.�,� ; part of the Property. Such proceeds shall be considered payments and will be applied as provided in th�s S�aulty
<br /> ln�^�*�P++t.7tiis assignment of proceeds is subject to the tenns of any prior mortgage.deed of m�st.security ag�t or
<br /> � � other lien document. � �
<br /> � :� , 19. INSl1RANCE.Trustor shall keep Property insured against loss by fire,flood.theft and other hazards and risks reasonably f� . .
<br /> 1 assoclated with the Property due to its type and lacation. This insnrance shall be maintained in the amounts and for the �
<br /> � ; periods that Beneficiary rec�uires. The insurance carrier providing the insurance shall be chosen by Trustor subject to .
<br /> Beneficiary's approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described ,
<br /> ' � above,Beneficiary may.at Beneficiary's option,obtain coverage to protect Beneficiary's rights in ihe Property according �
<br /> + � • • to the terms of th�s Secunty lnstrument. ..
<br /> ` Alt insurance policies and renewals shall be acceptable to Beneficiary and shall include a standazd"mortgage clause"and, :
<br /> where applicable. °loss payee clause." Trustor shall immediately notify Beneficiary of cancellation or temvnation of the
<br /> ' insurance. Benrfic�ary shall have the right to hold the policies and renewals. if Benefciary requires. Trustor shall �
<br />- immediately give to Beneficiary all receipts of Paid premmm5 and renewal notiees. Upon loss, Trustor shall give �
<br /> immediate nottc:r to the insurance carrier and Br.meficiary. Beneficiary may make proof of loss if not made immediately by � .�
<br /> ' Trusror. j. .
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<br /> ' . :Oi 99d Ba�kars Sn�nms.inc.Sr Ctoutl.M`J 11 800 397 230�� �o�m af DT HF �7�23 96 � �
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