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<br /> ` ` 14. DEFAULT.Tmstor wi'll be ia default if any Qarry ob{igated on the Secured Debt fails to make paymenc when dae.Tcu.Stor � .`���.. ,'�..
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<br /> F� • `' . wiU be in defaWt if a breach occurs under the terms of this S�LY ���t or any other dacumeat executed for the �
<br /> purpose of creating,securing or guarantying the�ecuced Debt. A good fa�th Delief by Beaeflciary that Beneficiary a�any o .
<br /> �'�' '' • nme is insecur¢wtth respect to any person or enrity obligated on the Secured Debt or that the prospect of any payment or ;, '
<br /> �. the value of the PropertY ts imPau�d shall also wasnmte aa evenc of defaulc. `�„ . -
<br /> •� ' 15, RElVfEDIES ON DEFAUI.T. !n same 6utances. federai and staze la�v will require BeneficiarS+to provide Tn�scor witb . _ .
<br /> ° notice of the right to cure or other aouces and may estabiish time sche�iules for foreclosure actions. Sub�ect to these
<br /> . .'.r.�.�, limitations, if any. Beneficiary may accelerate the Sec�red Debt and forectose this Securiry Instrument m a mauner [ . �
<br />~ ,:�"'.� .s. pmvided by law if Trustor is in default. . .� . t.'
<br /> --_--- �-_ At the opuon of BeneSciary,aIl or any part of che agreed fees and cl�arges. actrued i�nterst and princip�s1��b�O� �
<br /> '` ' immediatety due and payable, after giving notice if required by law, upoa the occurcence of a detault or an e
<br /> , ' thereafter. Ia addwon,Beneficiary sha11 be entitted to ail We remedies provided by law,the terms of[he Secured ebt.
<br /> L..
<br /> ;, . , • this gecurity Insmiment aad aay related docnments. including withoat limitation,the power to sell the Property. .. , .
<br /> ` ' `` '' 1f thece is a default,T:ustee shall, in addition to any other permitted remedy. at the request of the Beneficiary. advertise ..�,•_;`: . .
<br /> and sell the Property as a whole or in separate parcels at pubitc auction to the highest bidder for cash and convey absofute .
<br /> , " dile free and cleaz of all right,title and wteresc of Tnistor at such[ime and place as Trustee designates.Trustee shall givc ;_ �
<br /> notice af sale includiag the time.tetms and place of sale and a description of We pmperty to be soid as required bY the �,,°�
<br /> . ` ' apPlicable law in effect at the rime of the pmposed sale. � �': =_
<br /> �. ~ R�-:.. ..
<br /> �!'j" Upon sale of the pmperty aad to the eatenc aot prolu'bited by taw,Tn�stee shall make and deliver a deed to the Propeny ---_
<br /> '� '� sald wluc6 co�eys absolute atte to the purchaser, and after fust paYing a11 fees, charges and costs, shall�ay to ,
<br /> � �-��:!,�'•t.� ' - BeneBciary atl moneys advanced for Tepairs, taxes,insu.-ance, tiens, assessmenis aad prior encumbrances and mterest :, y'."---
<br /> " ' nnc�al and lnterest oa the Secured Debt, paying the surpIus,.if any, to Trustor. BeaeBciary,inay ,,
<br /> __ ; " '• thereon. anc�the p ' -
<br /> �t1f • pnrchase she Property.The recitals in any deed of conveyance sha[t be grima facie ev�dence of the facts sei forth therem. ,.:. ___
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<br /> ` t'%' y - - p�t remedies ar�discin�Y,camulative and nat exclus'sve,anci the Beneficiary is entided to all remedies provided at law or + ,4 ` --—
<br /> �Y eat or partia{Paycnem on the
<br /> �. _. _ .. :°". �iry.wIt�her or aot expressIy set for[h.The acceprauce by Beneficiary of a�sum ia paym . ----
<br /> - Secured Debt after thc balance is due or is accele:ated or after foreclosure proceedings are filed shall not n nT.sti�j�$ v
<br /> - waiver of Benef ciary's right to require complete cure of any exisring default. By not exercising any remcdY - �` �` . �
<br /> , � . �(.:.�� default,Beneficiary does not waive Beneficiary's righc to 1ater cons4der the event'a default if ic continues or happens again. � Y� .,.,n_.L��,
<br /> �... ` °:`4. 16. ESPENSE3: ADYANCES ON COVENANTS; ATTORPIEYS' FEES; COLLECTION COSTS. Except when _
<br /> prohibited by law,Trustar agrees to pay all of Beneficiasy's expenses if Trustor breaches any covenant in tbis Sect�ity
<br /> ' ".?'� Instrument. Trustor will also pay on demand any amounc mcurred by Beneficiary for insurin$,inspeMinS,preserving or -
<br /> ,f '.. • .- :'4. otherarise protecting the Pcoperty and BeneSciary's securiry interest.'I'hese eapeases will bear lntcresc from[he date of the --
<br /> payment unril paid ia full at the lughest interest rate ia effect as provided in the terms of the Secured Debt.Trustor agrees �
<br /> ' '' � ''�, ta pay all cosu aad exgenses incarred by Benefitiary in collecnng, enforcing.or protecting Beneficiary's rigflts and '':;.,_
<br /> � . ` � remedies under this Security Insm�menc.This amoun[may include,but is not limued to,attoraeys' fees,coun costs. aad �'; ;:.'
<br /> , � . . ` . bther legal eaperues. This Security InstnuneAt shall remain ia effect until released. Trustor agrees m pay for any :�y�
<br /> � • � recordauon costs of such release. ',�.:�,3„
<br /> . . � . � '` 17. E1WIItONMENi'AL LAW5 AND HAZARDOUS SUBST.4NCES. As used in [his section. (l) Environmeatal 1.aw .n. . :=-T-
<br /> meaps. without timitation, the Comprehensive Environmental Response,Compeasatlon and Liability Act(GERCLA.42 : __
<br /> �, .� � � U.S.C. 9601 et seg.).and all other federal. state and local laws. regula[ions,ordinaaces. court ordecs, attorney general _�.=:.c
<br /> ' � ' opinions or interpretive leaers conceming the public health,safery.welfare,environment or a hazardous substaace;and(2} •":;�.�:=
<br /> � • � �� Hazardous Substance means any tonic, radioacnve or hazardons material, waste, poAutant or contaminant which Q�s , . ��_
<br /> chaTacteristics whicb render the substance dangerous or po[encially daagerous to the public health. safety, welfare or _
<br /> � � eavironment.The term includes, without limitation,any su bstaaces de f in e d a s"h a z a r dous material," "toxic substances,° • ___
<br /> ,. . ' � . ' "hazardous waste'or°hazardous substance"under any Environmental i-aw. , ' T
<br /> - �� Trustor represeata,warrauu and agrees�hai: � � -
<br /> � � �' , •�. .: A.Eaccept as previously d'uclosed and acknowledged in writing to Benefcciary. no Hazardous Substance is or will be . _ __:
<br /> ' ` �• located, stored or released oa or in the Praperty. This resuiction does not apply to small guantities of Hazardous �,`
<br /> '�. - �- Subs[aaces t6at aie generally recognized ro be ap ropriate for the aormal use and maintenance of the Property. .
<br /> " . B.Ea t as previously disclosed and acknowtedg�in writing to Beneficiary,Tn�stor and every tenant have been,are. `; ---���
<br /> ` and�al{remain In fu11 compliance with aay applicable Eovironmental law. .r � _
<br /> � � C.Trustor sha11 immediately nonfy Beneficiar�+ �f a release or threatened release of a.Hazardous Subsszrce occurs on, •,: �
<br /> � • under or about the Properry or there is a violatlon of any Environmental Law conceming the Properry. ln sucb an .: ;.�`
<br /> ' � event,Trustar shall take all necessary remedial action in accordance with any Environmental Law. � :-:�==-�
<br /> - - • D.Trustor shall imraediately natify.Beneficiary in writing as soon as Tnu tor has reason to believe there is any pendi�� i_' u •� �
<br /> � . . or threatened investigatson, cla�m, or proceeding relating to tbe release or threatened release of any Hazardoas , . •
<br /> • . _ Substance or the violation of any Environmenta!Law. _ .�.
<br /> � � 18. CONDEMNATlON.Trnstor will give Beneficiary prompt notice of any pending or threatened action,by private or public �.'.;;'��.�• .
<br /> • � entities to purchaze or take any or all of the Properry through condemna[ion.emment domain.or any other means.Trustor
<br /> � authorizes Eeneficiary to intervene in Trustor's name in any of the above described actions or claims. Trus[or assigns to
<br /> Beneficiary the ptoceeds of any award or claim for damages connected with a wndemnation 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 this Security .
<br /> � � � lnstrument.This ass�gnment of proceeds is subject to the tertns of any prior moregage. deed of trust.secunty agieeiaent or • . •
<br /> ' . � other lien document. �
<br /> � 19. �i5URANCE.Trustor shall keep Property insured against loss by fire.flood.theft and other hazards and risks reasonably � � �,:
<br /> . � � assoclated with the Pcoperry due to its type and location. Th�s insurance shali be maintained in the amounts and for the , .
<br /> ' periods that Beneficiary rec�uires. The�nsurance cartier providlng the insurance shall be chosen by Tmstor subject to ..
<br /> � � � Benefciary's ayproval, which sha11 not be unreasonably withheld. !f Trustor fails to maintain the coverage described � � � ..
<br /> � above.Benefic�ary may. at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Prvperty according .
<br /> � � to the terms of this Secunty lnstrument. ..'
<br /> All insurance policies and renewals shall be acceptable to Bene�ciary and shall include a standard "mortgage clause"and, � �
<br /> � � where applicable. "loss payee clause."Trustor shaU immediately not�fy Beneficiary of cancellation or term�nation of the
<br /> � ' " � insurance. Beneficiary shall have the right to hold the policies and renewais. If Beneficiary requires, Trustor shall
<br /> � immediutely give to Beneficiary all rece�pts of paid premwms and renewal notices. Upon loss. Trustor shatl give .
<br /> � ' � . immediate nouce to the insurance carrier and Benefic�ary. Benefie�ary may make proof of loss if no[made immediately by .,. .
<br />� - Tnutor. � �
<br /> , � Ipage 3 of 41
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