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<br />• � ercecuted far the purpcxse uf ixeating,xcuring or guarantying thr Secured Bebt. A good faith helief by L.�:nder that _ ' � '�� '�__
<br /> �: . •
<br /> , l.ender at any time is insecur�with respect to any person or entity obligated un the Secured Debt or that the prospect - .-_ , +-
<br /> . � ,.
<br /> of any payment or the valuc of the Property is impaired shall also constitute an event of default. �-: i
<br /> � Z$, l�F.tbYEDI�S ON DEFAULT.In some instances.federal and state law will require Lender to provide Grantor with . � F
<br /> notice of the right to cure or other notices and may establish cime schedules for foreclosure actions.Subject to these .r � _
<br /> �. limitations. if any. Lender may accelerate the Sccured Debt and foreclose this Security Instrument in a manner , ;
<br /> providrd by law if Grantor is in default.
<br />- At the option of Lcnder,all or any part of the agreed fees and charges.atcnied interest and principal shalt become
<br /> immediateiy due and pa}•able,after giving noiice if required by law, upon the occurrence of a default or anytime , i. .
<br /> �' thereafter. ln addition,L.ender shall be entitled to all thc remedies provided by law,the terms of the Secared Debt. _ __ -. _• -
<br /> this Security Instrument and any related dacuments,including without limitation,the po�ver to sell the Property. -. ' , . _�
<br /> If there is a default.Trustee shall,in additian to any other permitted remedy,at the request of the I.c:nder,advertise �- . , ; • �.
<br />� and sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash xnd convey •..�.:: �.:, � ;, _
<br /> absolute title free and clear of all right,title and interest of Grantor at such time and place as Trustee designates. _ `• '�,`l�;;.+„A� .,-^,. :
<br /> Trustee shall give notice ot sale including the time,terms and place ot sale and a description of the property to be sold � � r:. �. —
<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 law.Trustee shall make and deliver a deed to the Property • s L �.;z�_=_-
<br /> sold which conveys absolute utle to the purchaser,and after first paying all fee:s,chazges and costs,shaU pay to Lender all °•',��;`',�°
<br /> � moneys advanced for repairs.taxes,insurance.Gens,assE.�ssments and prior encumbrances and interest tAereon.aQd the •�. _ ,r,�•.�. •.
<br /> priucipal and interest on the Secured Debt,paying the surplus.if any,to Grantor.Lender may purchase the Pro�rty- � L .
<br /> The recita[s in any deed of wnveyance shall be prima facie evidence of the facts set forth therein. :• ,��i ' �
<br /> All remedies are distincK.cumulative and not exclusive,and the L.ender is entitled to all remectir:s provid�d at!aw or , , ,,���_�.'
<br /> � equity,whether or not expressFy set forth.The acceptance by Lender uf any sum in payment ec�artial paym.at on the :, ;f- '.=�,_� ��a�z„;'.��
<br /> ��.._ �� .�:�.._`____
<br /> Secured Debt after the balance is due or is accelerated or after foreelosure proceedings aze fded shall not ec.r�-*>ule a f::+�� ; , .. :•:;�,;�,_
<br /> � waiver of Lender's right to require cosnptete cwe of any existing default.By not exercising any remedy oa��antor's _�__. �_,
<br /> default,Lender does not waive L.ender's right to later consider the event a default if it cantinues or happens again. ��:. + }�,�� ._t =-
<br /> 16. EXPENSES;ADVANCES ON COVENAN'I'S;ATTORNEYS'FEES;COLLECIION COSTS.Except when - . __
<br /> �.`�• prohibited by law,Grantor agrees to pay all of L.ender's expenses if Grantor breaches any covenant in this Security � � - � •
<br /> ' Instrument.Grantor will ako pay on demand any amount incurred by Lender for insuring,inspeccing.preserving or ,� . ., . .�`�; •
<br />�; -•' othenvise protecting the Property and Lender s security interest.These expenses will bear interest from the date of t_ .,.� -
<br /> �'�'� the payment until paid in full at the highest interest rate in effect as provided in the tenns of the Secured Debt. - ��t. ; ,�;,.
<br /> ,r'irantor agrees to pay all cosu and expenses incurred by Lender in coltecting,enforcing or protecting Lender's rights . ' r ��
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<br /> ',,,� and remedies under this Security Instrument.This amount may include,but is not l"united t�+_attorneys' fees,court �f;...,° �T�;;s�,��_:
<br />. costs,and other legal expenses.This Secwity Instrument shall remain in effect unti!releasec��Crantor agrees to ptty - �
<br /> , for any recardation costs of such release. ''��''�`0 ,�-`�
<br /> '• ,- ,....., r�• � : „�-_�.� -
<br /> 17. ENVIRONMENTAL LAWS AND HAZARUOUS 5UBSTANCES.As nsed in this section.(1)Environmental Law �. _at:��t,;:��. ''i�(,`'. 'F.�:,
<br />- ���� means.without liraitation,We Comprehensive Environmental Resporue.Compensation and Liability Act(CERCL.A. �.. � � qA.
<br /> � 42 U.S.C. 96U1 et seq.),and all other federal,state and local laws.regulations,ordinances.court orders,attorney lr:�
<br /> � general ogiaions or interpretive letters conceming the public health.safety,welfare,envirvnment or a hazardous - _ ~���:..'
<br /> � substance; and(2)Hazardous Substartce means any toxic,radioactive or hazardous materiaf,waste,poUutant or
<br /> .�:f-t`. ,.
<br /> contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public _
<br /> � �aallh,safety,welfare or environment.The term irtcludes,without limitation,any substanc.es defined as"hazardous �
<br /> rr�aterial.""toxic substances,""hazardous waste"or"hazardous substance"under any Environmental Law. ,:1_
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<br /> � •• firantor represents,warrants and agre:s that:
<br /> r,��� , ',��
<br /> A. Except as previously disclose�and acknowledged in writing to Lender,no Hazardaas Substance is or will be __ __
<br /> located,stored or released on or in the Proper1y.'I'his restriction does not apFy�: co small quantities of -._ i,i•,ti;. ����
<br /> � Hazardous Subst�ces that are generaUy recognized to be appropriate for the nom�al use aad maintenance of ,r �,„��} >� �
<br /> __y�.�.�. ,�.
<br /> . the Pro�erty. - �--�
<br /> g. Exce�u as previously disclosed and acknowledged in writing to Lendcr,C.�tor and e��ecv tenant have been,are, y ;�'
<br /> . � ' and s^a31 remain in full compliance with any applicable Environmental Law. •� • �'°'�:�-r��
<br /> ,...,e„r• � .-.
<br /> C. Grantor shafl immediately notify Lender if a release or threatened release of a Hazardoas Substance occurs o:�. _`'=
<br /> under or about the Property or there is a vialation of any Environmental Law concerning the Property.dn sucb �.�,y
<br /> � an even�Grantor shall take all necessary remedial action in accordance with any Enviaonmental Law. ,o,a;,�.
<br /> - D. Gr���r+r shall immediately notify Lender in writing as soon as Grantor has reasa�e eo believe thcre is ar.y �_
<br /> •� pe..�m3 or threatened investigation,claim,or proceeding relating to the release or t�:r.s.atened release of aa�: ,� �.�.-�.-XLSr=
<br /> � HazardousSubstanceortheviolationotan �nvironmentalLaw. ""'r-�'�'�+}n��_
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<br /> 18. CONDEMNA710N.Grantor will give l,ender prompt notice of any pendiag or threatened action,by private e: � • �.� � �.
<br /> public entities to pnrch�se vr take any or all of the Property through condemnation,eminent domain,ur•�ny other �--
<br /> means.Grantor autho�izFS Lender to mten•ene in Grantor s name in any of FE�e above described actions or claims. r''�'.:�+�.1",�
<br /> ��__::..
<br /> � Grantor assegns to Lender the proceeds of any award or claim for damages connected wztEe 3 rnndemnation or otIi�r •��;�
<br /> � ` taking of a11 or any part of the Property.5uch praceeds shall be considered Payments and�i[i��e applied as provided in �i,,
<br /> " this Security Instrument.This assignment of praceeds is subjert to the terms of any priaP*.nortgage,deed of trus�, ��-_��_T;��.'""
<br />: sscurity agreement or other lien document. �•;����e+.� "'�
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<br />� � I4 INSURANC�.Grantor shall keep Property insured against loss by fire,tlood,theft and other ha:ar3s artd risks �•:.��•�• _
<br /> . reasonabiy�.ssociated with the Property due ta its type and location.'Chis insurance shall be m�intaincd in the amounts {�:�r-�,-
<br /> � and for the periods that Lender requires.The insurance carriet prnviding the insurancr;shalt be chosen by Grantor �,�__�,s�i'?;:- _ �
<br /> subject to Lender's approval,which shall not be unreasonably withheld. If Grantor fails ta maintain the coverage � •�:;.
<br /> ' desctibed above,l.enrler may,at l.ender's option,obtain coverage to protect Lender's rights in the Property according . . . ,. #
<br /> .. to the terms of this Security lnstrument. . � . � _ _
<br />� All insurance policics and renewals shall be acceptable to Lender and shall include a standard"mortgage clause°artd. � �.;;
<br /> where applirable."loss payce dausc:'Grantor sha11 immcdiatcly natify L.cnder of cancellation or tcrmination of the � ' "' "� ...� __
<br /> insurance.Lender shall have thc right to hold the policies and mnewals. If l.rnder requires.(;rantor�hall immediately ` �
<br /> � give to l.ender all receipts of paid premiums and renewal notices.ilpon lo�s.(:rantor shall givc immediate notice to :�,�:�::;.�:- _
<br /> the insurance carrier and Lender.I.endcr may make pmof of lvss if not made immediately by Grantor. _
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