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<br /> -�- caccutrd for the purpose of crealing,�ecuring or euarantying thc Secund Debt. A gaod faith tx:lief by Lender that ___ ' ;_�
<br /> ixnder at any time is inseeure with respect to any person or entity obligated oa the Srcurrd Debt vr that the prospcct _ ,� <<��
<br />•� of any payment or the value af the Property is impaired shall also constiwte an event of default. ,, . �. ;,_
<br /> I5. RElb1ED1�S Olei�EFAULT.[n some instancrs,federdl and statr law�vili require Lender to provide Grantor with . ';.�
<br /> • ' noticc:of the right to cure or other notices and may rstablish time schedules for foreclosure actions.Subject to these : • ��_ -
<br /> limitations,if any,Lender may accelerate the Secured Dcbt and foreclose this Security lnstrument in a manner , ,
<br /> pro�rided by iaw if Gcantar is in default. , ' • �,:' .���
<br />-� � At the option of Lendcr,all or an�•part uf the agreed fcc.�s and charges,accrued interc�st and principal shaU become _
<br />• immediatel}�due and payable,after giving notict if nquired by law, upon the occurrence of a detault or anytime . .-
<br /> thereafter.In addition, Lender shall be entitled to al➢the remedies provided by taw,the terms of the Securcd Debt. - --- . --� ----- -
<br /> this Security Instrument and any related dacuments,including without limitation,the power to seU the Propeny. _
<br />� If there is a default.Trustee shall,in addition to any other permitted remedy.at the request of the Lender,advertise :� "����,. �
<br /> � and seU the Property as a whole or in separate parce4s at public auccion to the highest bidder for cash and convey • =� ; � � -�''��--.
<br /> � absolute tide free and clear of all rig�t,title and interest of Grantor at such time and place as Trustee designates. __ _, •;�'::-:� ' �� �
<br /> ,�—�:���'�°'"t.'��
<br /> Trustee shal!gn•$notice of sale including the time,terms and place of sale and a description of the property to be sold ____^,r�, •�._x�;�.
<br /> � as required by the applicable law in effect at the time of the proposed sale. • . , :�J��^�'°" -:___
<br /> •. �••'•"'.. .ki�.�sr�..-..
<br /> Upon sale of the property and to the extent not prohibited by law.Trustee shaU make and deliver a deed to the Property ,-. .{�,.�-.Y`"
<br /> sold which conveys absolute title to the purchaser,and after first paying aU fees.charges and costs.shall pay to I.ender all . , - � ; .� �:r. ;:
<br /> • maneys advanced for repairs.taxes,insurance.Gens,assessmenu and prior encumbranexs and interest thereon,and the _ . ,}� ���s'-�°
<br /> 'v:y(=1S TC-'t'i:i+:..�
<br />� ` principal and interest on the Secured Debt.paying the surp(us,if any,to Grantor.Lender may purchase the Property. . .� _. :.;
<br /> , 'a The recitals in any deeei of conveyance shall bc prima facie evidence of the facts set forth therein. •. ���'�''.�:`_�-
<br /> All remedies are di�wicl.cumulative and nat exclusive,and the Lender is entitled to all remedies provided at law or �_ r ��;_
<br /> ' equity.whether or not expressly set forth.The acceptance by Lender of any sum in payment or pa.rtial payment on the . : :x n,t:._ -
<br /> -.�a�:�t•
<br /> �� Secured Debt aher the balartce is due or is accelerated or after foreclosure proceedings are���i�311 not constitute a : ��t ,:��,.,�: ;.,
<br /> - � waiver of Lender s right to require complete cure ot any existing default.By not exe�cisin.g acc�:^cmedy on Grantor's _i;ij,% , °
<br /> ,: ,,,, , . .: --....
<br /> . default,Lender does not waive Lender s right to later eonsider the event a defautt if Er,ct,�atin�c>r happens again. --; �,��.,,�yM�s._
<br />' 16. EXPENSES; aDVANCE�ON COVENAPJTS; ATTORNEYS' FEES;C O d.L�C T 1 0 1 V ��S T S.E x c ep t w h e n �i:i.>-.{ �'�'
<br /> �
<br /> " �'�.�,,'_`.:
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<br /> prohibited by law.Grantor agrees to pay atl of Lender's expenses if Grantor breaches any cor•�Aant in this Security �.+:;
<br />' � Instrumen�Grantor will also pay on demand any am�unt incvrred b L.ender for insurin ,in ectin reservin or ��
<br /> y S SP &P g '��e;. ,,. �: ',
<br /> , otherwise protecting the Property and Lender's security interest.l'hese expenses will bear interest frnm the date of �'�s� ''��
<br /> the payment unW paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt. . ,•'�.� , ; _
<br /> � Grantor agrees to pay aU costs and expenses incurred by Lender in collecting,enforcing or protecting Lender s rights ;-;E ; "_.
<br /> and remedies under this Security Instrument This amoeiat may include,but is not limited to,attorneys' fees,court , ;. ;_�.:;
<br /> � �� costs,and ather legal expenses.This Securety Instrument shall remai�in effect until released.Grantor agrees to pay :, ' �` .�.::�;::::;�w ,;,;rt;,.;,
<br /> -• fo�any recordation cosis of such release. ` 'i4 �'�`�¢��
<br /> ..� '�r, . � ,� ,�
<br /> � 17. ENVIRONIV9EM'AL LAWS AND HA�EtDOUS SUBSTANCE5.As used in this section,(I}Environmental Law �
<br />��:�{yij;:,,� means,without limitation,the Comprehensive Environmental Response,Compensation and Liability Act(CERCI.A, s��•' '�`'"•�?1�''�,.•�_
<br />'��`�•��°?;�.� 42 U.S.C.9601 et seq.),and all other fedesal.state and local laws,regulations,ordinances,court ordecs,attomey �i '
<br /> �_ general opinions or interpretive letters con�rning the public 6ealth,safety,welfare,enviro�ent or a hazardous -- i��: ` '�-'
<br />' substance;artd (2) Ha2ardoas Substance�eans any toxic, radioactive or hazardous material,waste,poputant or �' ����
<br /> contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public ,, ,
<br /> • heaith,safety,welfare or environment.l'he term includes,without limitation,any substances defined as"hazardous - ' ���-
<br /> hnaterial;"'toxic substances.""hazardous waste"or"hazardous substance"under any Environmental Law. . . � ���°.
<br /> . ,.ws_Y::.�`�' _
<br /> . Grantor represents.wanants and agees that: �----�- -
<br /> �.o.�-__
<br /> A. Excepi as previously disclosed and acknowledged in writing to Lender, no Hazardous Substance is or will be -�-;:....•.--,
<br /> located,stored or released on or in the Property.This restriction does not apply to small quantities of
<br /> • to be a ro riate for the narma!use and maintenance of �''`-� __
<br /> Hazardous Substances that are generally recogmzed pp p
<br /> . • -- the Propercy. - �"�
<br /> ' B. Excepi as�reviously disclosed and 2cknowledged in writing to Lender,Grantor and every tenant have been,are. -.:��"•'� ��
<br /> � and shaC�c�-aain in full compliance�l�cth any applicahle Environmental l.aw. _
<br /> �. . .. -;»a :�
<br /> � C. Granta:siall immediately notify Lender if a release or threatened release of a Hazardous Substance occurs on, ��_�� -t..-�.4...--
<br /> under or about the Property or there is a vialation of any Environmental Law wnceming the Property.In such �'��''—
<br /> an event,Grantor shall take all necessary remedial action in accordance with any Environmental Law. �" "�--
<br /> � ��•-
<br /> �� �. Grantor shall immediately notify Lender in writing as soon as Grantor has reason to believe there is any __ "�•
<br /> ' penditvz or threatened investigation,claim,or proceeding relating to the rclease or threatened release of any -- —_ ''
<br /> •� Hazar�t:w Substance or the violation of any Environmental Law. _ ;•� y^� �'__
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<br /> � 18. CONDEMNI�L�ON. Grantor will give Lender prompt notice of any pending or threatened actiun,by private or ,,�n;�•�c--� —
<br />:�;. , , �..-•-..,.: ..
<br /> public entities to purchase or take any or all of the Property through condemnacion,eminent domain,or any other r��;;�`�};�.: _
<br />�;;:.5:: : +{;, ,.:.... .. �
<br /> � means.Grantor authori�s �,:nder to intervene in Grantor's name in any of c�1�above described actians or claims. :���,'�''",,;,•t{,{, _. .
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<br />' ' Grantor assigns to Lertder ri:e proceeds of any award or claim for da.�nages connected with a eondemnation or other ��:,���_ ' __ .,s�
<br /> takin of all or an art of the Pro e S�ac+i roceeds shall be considercd a ments and will be a lied as rovided in '`�°'--''''--
<br /> $ Y P P rtY. p P Y PP P
<br /> � this Security Instrument.This assignmer�t of �;roceeds is subject to e`=terms of any prior mortgage,deed of trust. `�>�"�*-�
<br /> �:; �curity agreement or other lien dacumc�tt. � ��'
<br /> _�.. :
<br /> 19. C^v��UBANCE.Grantor shall keep Property insured a,ainst loss by fire,tlood,thett and other hazards and risks . _ ..
<br /> ' reasanably associated with the Property due ta its type z:d loption.This insurance shall bc maintaincd in thc amounts - .: �'�; ;-
<br /> . and for the periods that Lender requires."I'he insurance carrier proLiding thc insurancc shall be chosen by Grantor _ ,..�: .
<br /> , subjeci to Lender's approval,which shall not be unreasonably ui�i�rrcld. If Grantor iails to maintain the caverage ' ,
<br /> described above.Lettder mpy,at Lender's option,ohtain coverage ta protect I.ender c rights in thc Property according • ��_
<br /> to the tetms of this Security Instrument. ' _' _ '
<br /> � All insurance policies and renewals sha1)be acceptable to L�:nder ar.d shall inciu�b:a�tandard'•mortgage claase"and. • • �
<br />' where applica[�Ie."loss payee clause."(irantor shall immediate{y nunf�•l.�:nder of cancellation or termination of the , : •. �
<br /> . • • insurance.L.i:nder shall have the right to hold the policies and renew:J.s.If L.cndcr reyuires.(�rantor sha11 immediately � .
<br /> give to[.snder all receipts of paid premiums and renewal notices�Upon loss.Cirantor shall g,ive immediate notice to �
<br /> � the insurance carrier and Lender.Lender may make proof of loss if not made immediatcly by Grantor. . . , .. ..: � �
<br /> . _
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