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<br /> executed for ttte p:upose of crearing.securing or guarantyin;ihc SrcureJ Debt.A guod faith txfief by ta:nder that - „ - ,-—4
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<br /> Lender at any time is inse�ure witb respect to any person or entity obligated on the Secu�red Debt or that the prospect � . , '�
<br /> • uf any payment or the value of the Property is impaired shull also constitute an event of default. • �
<br />'," 15. EtEMED�S ON DEEAULT.In some instances,federal and state law will require Lender to�rovide Grantor with , --
<br /> notice of the right to cure ar other noiices and may establish time sthedules for foreclosure actions.Subject to these , . , .
<br /> limitations,if any,Lender►r�ay accr:lerate the Secured Debt and foreclose this Security Instrument io a manner .. ,
<br /> • provided by law if Grantor is in default. . , ��
<br /> ` At the option of Lender,all or any part of the agreed fees and charges,accrued interest and principal shall hecomr . . . =:t=
<br /> - - immediately due and payabie.after giving noticc if reqeired by law. upon the occurrence of a default or an}'time __: Yti.J_____--
<br /> � thereafter.in addition,Lender shall be entitled to all the remedies provided by law,the term�of the Secured Debt. . .,�,
<br /> ,� this Security In._wment and any related documents.inctuding without limitation,the power to seU the Property. � ,. ...
<br /> ' �• If there is a�efault.Tnutee shall.in addition to any other permitted remedy,at the request of the Lender.advertise • ; :a.•—�.-'-••�"
<br /> and sell ihe Property as a whole or in separate parcels at public auction to the highest bidder for cash and convey _ A
<br /> � . . absolute tide free and clear of all right,title and interest of Grantor at such time and place as Trusiee designates. - �? '�:� '.
<br /> Tmstee shall gice notia;of sale including the time,terms and place of sale and a description of the property to�oz sold 'r•''���;.�j_
<br /> ,�'�..�.,_
<br /> as required b}•the applicable law in effect at the time of the proposed sale. . . ?�'-�°-
<br /> -�--s�,
<br /> ';;.,,';-;=�..�-.
<br /> Upon sale of th�property and to the eactent not prohibited by law,Trustee shall make and deliver a deed to the�Property ,.
<br /> sold which con�eys absolute title to the purchaser,and after first paying all fees,chazges and costs,shali pay to Lender all • �-�_.,�;:.�: _o,
<br /> � moneys advanced for repairs,ta�es,insuranee.liens,assessments and prior encumbrances and interest thereon.and the �'r.� . , �_•,_
<br /> principal and interest on the Secured Debt, paying the surplus,if any,to Grantor.Y..ender may purchase the Praperty. , .�� ,,. ; � ��,,•
<br /> The recitals in any deed of com•eyance shall be prima facie evidence of the facts set forth therein. �
<br /> r,.�,
<br /> "' ,all remedies are distinct,tumutative and r�nt exclusive,and the L.ender is entitled to all remedias provided at la�v or . :
<br />`���t�'�' �� �uity,whether or not express]}set forth.T'he acceptance by LendeF of any sum in payment or partial paym�nt on the „fr:' � .�.
<br /> .,�—' -.F:
<br /> • - Secured Debt after the balance is dae or is accelerated or after foreclosure proczedings are filed shall nat constitute a • `°���• ___
<br /> waiver of Lender s right to require complete cure of any existing defauwt By not exercising any remedy on Grantor's ��..:�. r � „'`-'-
<br /> , default,Lender does not waive Lender's right to iater consider the event a default if it continues or happens again. ;,:
<br /> ,f�i��,°..-
<br /> 16. EXPENSES; ADVANCES OPi COVENANTS; ATTORNEYS'F'EES;COLLEC'I'ION C05TS.Except when � 'tf� _� �_.__._-
<br /> '` � prohibited by law,Grantor agrees to pa} a11 ot Lender's expenses if Grantor breaches any covenant in this Security ,. � �'��
<br /> ' .,.�,.: � `�'"
<br /> � ' Instnunent.Grantor will also pay on demand any amount incurred by Lender for insuring,irispecting,preserving or ,,,, .,� .. �'
<br /> otherwise protecting the Property and Lender s security interest.These expens�will bear interest from the date of '*.�'�' ' k t •,�-
<br /> the payment until paid in full at the hi�►est interest rate in effect as provided in the terms of the Secured Debt. •�` . , `�1 ' ,�•
<br /> • . Grantor agrees to pay all r,osts and expe�s incurre d by L en der in co l l e c ting,e n f o r c i n g o r p r o t e c t i n g L x n der's ri g hts �xr',� ���� ,t;�r,_�
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<br /> . ,sI� and remedies under this Security Insuu;:ient.This amount may include,but is not limited to,attomeys'fees,court •.�,:•,. rr.
<br /> � costs,and other legal expenses.This Security Instrument shall remain in effect until released.�'irantor agrees to pay ;-��'�'"'�
<br /> � ' for any recordation costs of such release. 4:';'n' r`}�.
<br /> 17. ENViRONMENTAL LA�S AND IIiAZ.�RDOUS SiJBSTA1VCES.As used in this section.(1)Environmental Law `'� •" -
<br /> ' means,withont lunitation,the Comprehensive Environmental Response,Compensation and Liability Act(CERCLA, - ��f�• �°
<br /> �� �a' •,
<br /> � ' 42 U.S.C.9601 et seq.),and all other federal,state and local laws,regulations, or�inances,court orders,attomey • -
<br /> �� general opinions or interpretive letters concerning the public health,safety,welfare,environment or a hazardous ...�: .`-:
<br /> • substance;and(2) Hazardous Substance means any toxic,radioactive or hazardous material, waste,pollutant or .w;� ��� �
<br />�� �' � oontaminant which has characteristics which render the substance dangerous or potentially dangerous to the public �' ��
<br /> � health,safety.welfare or environment.The term includes,without limitation,any substunces defined as"hazardous . "r'��'- -
<br /> ��'-•�::�`.
<br /> � material,""toxic substances.""hazardous waste"or"hazardous substance"under any Environmental Law. _ `t T��,.__,___
<br /> ' •' Grantor represe�ts,warrants and agrees ihat: '��
<br />�;�.�, : �.`
<br /> A. Except as previously disctosed and acknowledged in writing to Lender,no Hazardocs Sabstance is or will be : �;�,,,.�. ,; ,?rsc}��
<br /> `il, �.' .�rj'a., , ,,;';". .�
<br /> located,store�o*rei�ased on or in the Property.This restriction does not apply to small quantities of ��f�, . "�,-°;
<br /> � ' HazarCO�:s Sabssa.�+ccs that are generally recognized to be appropriat�for the normal use and maintenance of N •• =%�r%:;;`�_
<br /> the PrUparey. __- ..•.�""
<br /> . � ' B. Except as previously disclosed and acknowledged in writing ta l,ender.Grantar and every tenant fiave been,are. � �. '�':•°.��?��-
<br /> � •.. , ,..wt;:-
<br /> � and shall remain in fuU compliance with any applicabte Environmental Law. •';�',
<br /> C. Grantor shall immediately notify Lender if a release or threatened release of a Hazardous Substance accurs on. �°��iN- �
<br /> ' under or about the Property or there is a violation of any Environmental Law concerning the Proprrty.In sach ''�;�+':r�"�•°,' �`
<br /> an event,Crantor shall take all neoessary remedial action in accordance with an Environmental Law. t��.�.. �"``'n'�'~"
<br /> Y �L vt1�I.��PW�ii3d"''��:i..:�,:�.
<br /> D. Grantor shall immediately na��y Lender in writing as soon as Grantor has reason to believe there is any .Y"=r_,�,�y�?,
<br /> � pending or threatened investigation,claim,or proceeding relating to the release or threatened release of any .`• ,�'���rY!��
<br /> � . . • .-:.,i'.
<br /> Hazardous Substance or the violation of any E�r.ronmentai Law. ''"f,t4'.,
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<br /> � 18. CONDEMNA770N.Grantor wiU give Lender prompt notiee of any pending or threatened action,by private or ,.+.,,:��,��... .
<br /> public entities to purchase or take any or all of the Property through condemnation,eminent domain,ar any other ���,t-��w'-•__
<br /> ;� means. Grantar auithorizes Lender to intcrvcnc in Grantor's nxme in any of the above described actions or claims. :�:�'�',;;�;�;,
<br /> Grantor assigns to Lender the proceeds of any award or claim;or damages connected with a condemnation or other "�:��,•, �;,:y��. .
<br /> takin of all or an art of the Pro e Such roceeds shall be considered payments and will be applied as provided in �"�����-.,,�,-. ,.
<br /> � Y P P nY• P •�::, +�!w+��r..:;
<br /> �.< :
<br /> this Security Instrument.This assignment of procceds is subject to the terms af any prior mortgage,deed of trust, ���F,.,:.:.••t;•,:_�••_:.r-=
<br /> ��::'��ru,�
<br /> . � .,. security agreement or other lien document. _ } . � , -�
<br /> � l9 INSUItANCE.Grantor shall keep Property insured against loss by fire,flood,theft aa� other hazards and risks - •' 's=*'"'��'"'y�•
<br /> v.i�\�5:i�. ��T;I�ni.�
<br />: � reasonabty associated with the Property duc to its type and location.This insurance shal!be ma�ntained in thc amounts . : , __
<br /> and for the periods that Lznder requires. The insurance car!�:::-;.roviding the insurance c'�Gll be chosen hy Grantor - _
<br /> subject to[.ender's approval,which shall not be unrcascna�;y w•ithheld. If Grantor faiis to maintain the coverage ." ` • .• •��.+s.:_
<br /> described above,Lender may,at Lender's option,obtain ca�erzge to protect I,ender's righes in ihe Property according ''�,:,•:. �+_, #'-;•.
<br /> .�. .
<br /> � � to the terms of this Securiry Instrument. . . , ' ;•:—
<br /> All insurar.��policies and renewals s�nai}ne acceptable to Ler.c�:aad shall include a stand�,rd"mo»gage clause"and. �. � ;'�"__
<br /> where applicable,°loss payee clause."�rantur shall immediateiy notify I.cndcr of canccll4tion ur termination of the . .,
<br /> •� � insurance.I.ender shall have the right to hold the policics artd renewals. if L.ender requires.Grantor shall immediatety . �'
<br /> � � give to Lender all receipts of paid premiums and renewal notices.Upon loss,Grantor shaU givc immcdiate notice to . . � � . _
<br /> � the insurance carrier and L.ender.I.er_der may make proof of loss if not made immediately hy Grantar. � . �
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<br />' _ m 1994 Bankois Systamy.tr�t.St :t�:. .D. :.R04397�234�)inrtn REDT�NE fl�E'd'� ' _ � _ �
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