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<br /> ' 14. DEFAULT.'trustor wtll be in dcfault if any party o�ligated on the Secured Debt fails to maKe paym�when duc.Tnutor � , � ; -
<br /> wiU be in defnult if a breash occure under Ihe termv of this Security In�nt or any other docnment executed far the . �
<br /> ' puspose of creatfng. Eecuring or guasuntying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at any � � . .' ,
<br /> ume ia insecuae wtt6 ces�t to any person or entity_obligated on the SECUted Debt or that the prospect of any payment or
<br /> the value of the Property is impaired shatl also wnstimte a�event of default. .
<br /> ' 1�. REMEDIES ON DEFAUI.T. In some in�tances. federal and state luw will require Eenefrciary to provide Tnistor with , . .'
<br /> S -
<br /> notice of the ri�ht to cure or ather notices and may establish time schedules for foreclosure acuons. Sub2ect to these
<br /> � � llmitations, if any. Beaeficiary may accelerate the Secured Debt and foreclose this Securiry Instn�ment m a mann�r _
<br />= provided by law if'I'rustor is in defauIt. -� -,_ - T -
<br /> At the option of Benefic�'ary all or any Qart of the a��d fces and charges, accrued interest and pTincipal shall beoome .- '• ._ . .
<br /> immrtli�ly due and payable. after gn+wB notice i�required by la�v. ugon t[ie occurrence of a default or anyume . �,
<br /> . thereafter. In addition,�eaeficiary sball be enaded to all the remedies provcded by law, the ter�s of the Secured Debt, . . '�. .•.
<br /> � this Securiry Insuument and any related docvments,including withoui limitation,the power to sell the Pmgerty. . .
<br /> If theie is a defavlt,Trustee shall,in addiaon to nny other permitted remedy,at the request of the Beneficiary,advertise • . , �-�, .
<br /> and sell the Property as a ahole or in sepatate paroels ac pnbUc anction to the highest bidder for cash and convey absolute ,
<br /> rifle fres and clear of all right,tide and wterest of Trustor at such time and place as Trustee designates.Tnutee sha11 give •.
<br /> notice of sale including the time,terms and place of sale and a description of the pmperty to be sold as required by the � .'._'
<br /> applicable law ia effect at the time of the proposed sale. , � �""��'�
<br /> ', ;. .. ;,�- '�`�.-T;:.
<br /> ;��`g Upon sa2e of the property and to the extent not prolu'bited b law, Trustee sFaall make and deliver a deed to the ProPenF '�,_=:-'�`==
<br /> y and costs, slsall ay w ,. ��;T�°: .:-
<br /> ' sold avbich conveys absolute atle e� tI�e purchaser. and aft�r frsc payin� atl fees, c.�arges � �,*..;�,y:�;'~
<br /> �'s..�, Baneficiary all mnneys advanced fag regairs, tar.es, insurance, li¢as. ass��ts and prior encumbra�c�es and mter�t ". . , ,� • ---
<br /> • thereon, and ttne pri�aad interest on ti�e Sec�red Debt. PaYing che snrplus. if any, to Tn�stor. ff�eflciary_�ay «'` -K-- • .
<br /> ec -..:..
<br /> purc6asc the Property. recitals in any deed aff ca��reyance shall be prima f�°.vidence of t��farts ser C,�there�n. , �'$9:(: 1,.,� : ..; ,
<br /> ��li� S�YS.'� '
<br /> - -�. A l l r e m e d i�are d i s t i n c t,e.s�l a t i v e a�n o t e x c l n s i v e,a a d the BeneSciary is�rf�::ed to all�dies ra-,�n-'r��at law .• �� ��-•;,��`::.�z t
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<br /> `���;' equity,w��a�:r or not expre�s�y set£��.'Ihe acceptance by�fic�ary of a�y s�in pay�.^r�pz�+a;�*��`�� :,�•'� ;;,{z� c c
<br /> ��: �.,
<br /> �,'��;,;: Secuced ID�� aRer the balance�s c�a��is accelerated or aRer foreclosure proceedings �e`tv:�s�ai3 �t ar.s��F �':�.,.; _�� ....� .L
<br /> waiver�°�seneficiary's right to reQ.z...-�e�mplete cure of any eaisting default.By not exerc's�;�y r�y��'r�..�*wi's ;��`.',-.;. ''r �;'T.
<br /> def�lE,r-�ficiary does not waive Bereficiary's right w later consider the eveez a defanZt if i►.��.^°aes ar.'�N�s aSa�. ..:,,':�• ;.4.�'���r,:s,-
<br /> �i4�J:rLL�� ia+�:r.:'� `ViJJ.11.1PiV+11LWl.w LW1�:•. � ��'YL.� ��'�;'�.•. r•�F�•.4�Y,f��•
<br /> .:L.`' H�. F.7��'*?�, ADVANCES ON C�VENANTS; A1T �t z4;'''` ,. (1�� �,.
<br /> - :7?�' pra��s����:aaw. Trnswr a�rr�'. �a�all of BQneficiar�'s�if T�;�� ��r.'�v�t m this�� .�v�;,:�"�'�` ��,f.�
<br /> %�,��, Ias�L lr.�=�11 aLso�ay�+ �and any amount �r3'�. E�ef�ay fcr��g inspecttng,preservim�or ,��,,�'� `.;�:.;�;;' �;;
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<br /> ;':y otiaerw�r��'�„�he Pr�^��!'��efcciary s seaui�y mu�..�s:-"�'r...�e expc�as wili�ar�eiest from the date of�e ,,,� �?�,
<br /> � payment tm��3�.rau��'�.,�est�:.rest r�re i.n eff'ert ss rowit�sl m the t�ra�af the S�red Debi.Trastor agree.s ,: �
<br /> to pa_ all cnsts and ���es iu�rc bY �n''T-s�,�+.y in co�axing, enforciag or pmtecang BenefieiarY'$ nP� � . t��.:
<br /> � �� �es under this Sec�uiry Insu�r�c-T�s ama''�maY include,but is not limited to.attomeys'fees, court costs,and
<br />� other le�al expenses. This Seivrity YT�„�^t shall rema�n m effect until released. Tn�stor agrees to pay for any
<br /> ` recordadon costs of sicb release. -
<br /> -- 17. ENVatON14iENT�. LAWS AND HAZARDOUS SUA.STANCE6. As used in tLis sectlon, (1) Environmeatai Law
<br /> � .. means, without limitation, the Compreheasive Environmental Response Compensation and Lia6ility Act(CERCLA, 42 s����
<br /> U.S.C. 9601 et seq.),and all other federal, state and local laws, regutations,ordinances, wurt orders, auomey genenl '��,=
<br /> ' opiNon�s or interpretive lette�s coacerning the public healtL,safety.welfaze.environment or a hazardous substance;and(2) ;- _
<br /> HaTardous Substance meaas anY tox�c, radioactive or hazardous material, waste, po llutant or coataminant which t�as �:�Y
<br /> charactecisrics which ren der t he su bstance d a ngerous or p o t e n t i a l l y d a n gerous to tlte publtc health. safe ry, welfare or . �:�--_.
<br /> envuonm�t. The term includes, without llmitatlon, anq substances defined as "ha7ardous materiai." "toaic subataitces," �.. ' -
<br />_ • "ha7ardous waste"or"hazardous substance"under any Environmental Law. -
<br />. Tn�sto:rep:esents.warrants and agcees that: .. _ -
<br /> A.Except as previously disclosed and acknovrledged in writing to BeneRciary,no Ha7ardous Substanse is or will be �-� ______
<br /> :, lucated, stored or releas�d on os in the Property. 7tis restrialon does not appiy w small quandties of Hazardous ",�_"
<br /> . ' Substances thai are generaUy recognized to beapproprIate for the normal use and maintenance of the Property. - �-. -
<br /> �� B.Ex t as previously disclosed an�aclmawledged in wrIting w Beneflciary,Truswr and every tenant have bePn,are, ••°';..:�..--
<br /> aad�all remain in full compliance with aay appllcable Environmental Law. •� ` -
<br /> � �� C.Tnutor shall immediately noUfy BeneBciar� if a release or threatened release of a Ha7azdous Substance occurs on, '""—"'�"`" '
<br /> • . ��er or about the P r operty oz t here is a vio l a t ioa o f any E n v i n o n m e n t a l L a w c o n c e m i n g t he Pr o p e rt y. In such aa �.,�,�,�,_
<br /> event,Tn�stor sball take alt ne�essat}+remedial aaron in aocordauce with any Environmeatal Law. �, x-..�
<br />. D.Trastor shall immedlately noti�'3+Eeneficiary in writing as saon as Truswr has reason to believe there is any�� ,•', �'-' - , •.
<br /> • oz tbreatened 'urvestigation, c�sim,or proceeding relating to the release or Wreatened release of aay A • __._�._z-�
<br /> Su�staace or the violation of any Envimnmental Law. �. ���y--�_`
<br /> .. 18. COND�'Y,4VAT[ON.Trustor will give BeueRcIary pmmpt notice of any pending or threatened actlon,by private or public °�.s��.�,;_�.;�
<br /> • entiHes to arcLase or take any or�of the Properry tLrough rnsdemnahon,euunent domaia+,or an�+other meaas.Trustor � { .��;,:.;=
<br /> • ��' authariz��eficiary to intervene zn Trustor's name�n any of the above described actlons mr cla�ms.Tn�stor assigns to .,"°"' `""'?�
<br /> • Benefici2zy the pmceeds of an,y avy-�i or claim for damages connected with a condemnarion or other taking of all or any -"u*.. . . . A�:
<br /> part of the Property. Such Procesei��sha11 be considered payments and will be appllod as provideA in thia Securiry ;--,; -�-.:•�, ..
<br /> ; Tnstn�ment.This�assignment of groceeds is subject to tLe terms of any prior mortgage,deed of trust,sec:unry agreement or ,,,:;;�,�_.:_..���.�-
<br /> �'� other lien document. / • . _
<br /> � 19. INS[JRANCE.Truswr shall I�ep Property insured against loss by fire,flood.theft and other hazards and risks reasonably ; � �� � _.
<br />� associated with the P�coperty due to-its type and locadon. 7tus insurance shall be maintained in the amounts and for the . '�°._�T
<br /> � � perlods Wat BeneficiaryT The insurance carrier providing the insuraace shall be chosen by Trustor subject to �� � .
<br /> BeneSciary's approval,�av�ch shall not be unreasonably withheld. If Tnistor faila to maintain the covetage described �-:-:.•.,;,�;,�,;,��,�;;R
<br /> • above,Beneficiary�ay, at Beneficiary's option,obtain coverage to protect Beneficiary's rights in the Property according . _
<br /> to the terms of ttus��.uity Instnunent. ° � � .�
<br /> All ias��mce policies and renewats shall beacceptable to Benzficiary and shall include a stan•r2azd"mortgage clause" and, � ' '
<br /> � where a�p2i�ble, "loss payee clause." Trustor shall immedia�.ly� noufy Beneficiary of c�n�:lation or temunation o`t�Q -
<br /> in�»ran�e. Beneficiary shaU have the right to hold the polic�es and renewals. If Benaficiary requires, Trustor shall , __
<br /> '. immediately give to Beneficiary all receipta of paid premmass and rercew,^; notices. up�n toss, Z;:s�or shall give . �
<br /> immedi2:e nouce to the insurance canier and Beneficiary. Bet�fi�iary may::.:.��;,roaf cf?oss if not s.�le�Y..�:�:ely by .
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