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<br /> � � ; 14. DEFAiJLT.Tnutor aill be in default if anyparty obliga[ed ou the Secured Debc faits to make payment wheu due.Trustor �•, � , ,, _
<br /> " witl be ia default if a breac�e occurs ander tfie teAns of tbis Security Insauuient or aay a�her docmment excx�ted for the , • , ' -
<br /> � �.� purpost of cteating.sec�uing or guaxantyi��the Secated Debt A g+ood faith belief by Benefcciary tl�at Beneficiary at any � .
<br /> < � `-�+ ame is ia5ecure anth�esP.ea to?nY Person er entity,obligated on the Secured Debt or that the pms�pea of any payment or �
<br /> , � � i the value of the Property�s impaued sha11 al�o consawte an event of defautt. ; . ,`,� .
<br /> �� 15. RENiEDIES ON DEFAUL'�. In some iastances, federal aad state law will require Beneficiary to provide Ttustor with 4 • :
<br /> • :j nodce of the right to caie or other notices and may establish �me schedules for forecloswe acdans. Subject to these � � : .
<br /> - liruitations. if any, Beneftcciatp may accelerate the Se�ured Debt and foreelose this Security lasaum�nt w a manner s ' .' ° ' '
<br /> -= �---, - '; pmvidedbylawifTrustorisindefault. `- =_----_—
<br /> • ` � ' At the option of Benefic'�acy ail or any�art of the a 6ees and charges. accrued interest and prw��al shall become �` , ,.. .
<br /> _ immediateiy due and pay ba te.,after gtvtag tioace i�rMuired by law, upon the occurreuce of a default or anynme
<br /> E,.
<br /> � thereafter. In addiaon.Benefc�ary shall be entided to all the remedies pmvided by law. the rerms of the Secured Debt, { ,
<br /> . . this Secwity Insnument and any reIated documents.ipcluding without lunitauon,the power to sell the Propecty. [{{� . . ��
<br /> 4 4•• •
<br /> -: . If there is a default,Trw-tee s1�a11,in addidon to any other peimitted remedy,at therequ est of tl�e Beneficiary. advertise ' : '
<br /> =.:��' and sell the Property as a whole or ia sepazate parcels at pnblic anction to the lrigi�est bidder for cash and comey absolute ` . '�. .
<br /> - ' � clear of all ri t i d e a n d m i e r e s t o f T t o s t o r a t s a c h t i m e a n d p l a c e as Tros�tee desi g n a ce s.Trastee shall give [�
<br /> . �e�� � to be sold as b the . M'�-
<br /> notice of sale including the dme,teims and pL�ce of sale and a description of the propertY � Y � . �
<br /> <� . applicable law in effect at the time of tbe pmposed sale. '•:`n%�::
<br /> '' ' � Tmstee shall make and deliver a d�ed ro the Pr�perty � :��4#°-
<br /> `, U on sale of the m rty aad to the extent not prolu'bited by law. ,
<br />.'; . ; so�a � co�ys�esoiuc� a�e co � purc�aset. and after fast Pa➢ing al1 fees. charges and costs, sha11�.." to , �•
<br /> Beneficiary al}moneys advanced for repaus. taxes. insivance,liens. assessments and grior encambiances and mteiest .:
<br /> . ��ha.�se the Pro e�'�he cecitals��in�an�deed of conveyance sLail b prima fa�Me e►ndence of the facts setBfo�th.�erein.�y ;�:�: .•:`s�-_
<br /> ' purc P rtY• Y 't,i:•:'� ', �
<br />-< . . . . aml[he Benefic�' yis enrided to alf remedies�mvided at taw or ,-:`�'�"�� .`-.�
<br /> . q�l remedies are disanct,cumulative and not exclusive. or arpal payment an the • `•-}�
<br /> � eqvity,whether or not expressly set fordi The acceptance by Bene�of any sam in payment P
<br /> ';; Secored Deist after the balance�s due or is accet�rated or after forec siue proceedings ate filed sha11 not consdtate $ ';�r•-.
<br /> :, araiver of Beneficiary's right to reqaite comPlete cure of aay existing default. By not exercising any remedy on Trustor's ���T-,;,r;-�
<br /> '' � default,Beneffciary does not waive BeneSciary's right to later consider the event a defavlt if it contimtes or happens again. . ;�•,; �'`
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<br /> :} ' 16. �RPENSES• AIDdANCES ON COO+ENANTS: ATTORNEYS' FEES: COLLECTIOPI COSTS. Faicept when '`.•± �
<br /> ;:; pr o h i'b i t e d by� l a w.T n i s t o r a g re e s t op a y a ll o f B e n efi c i a r y's e x peases if Trustor brraches anp covenant in this Serurity � _,
<br /> � ' � l n s u a ment. Trastar will also pay on d emand any amount mcutred by Benefrciary for insu:ing,insPectinS presezving or .:.:..�:.
<br /> `�; '. othe�vise protecang the Property and Beneflciary's secuzity interest.These e�cpenses arill bear interest from the date of the � :.'C;`�
<br /> �'•+ —
<br /> payment until paid in full at tite highest interest rate in effect as pmvided in the telms of ttie Se�a�red Deb�Tn�stor agrees , .. , '_�';�;��
<br /> ;.'; � eo pa, all costs and expeases incwred by�Beneficixry in coltecting, enforcing.or protecting Beneficiary's rights and . ._t; T.
<br /> . �. re�es under this Securiry Insuument.T6is amount may include. but is ao�limued to,aaameys'fees. court costs,and .. . ,,.:�;,,.
<br /> �- �! o�her legal expenses. This Securiry Intitrument shall remain in effect until released. Tcustor agrees to pay far any ..,.?�:
<br /> ` rrcordauon costs af auch release. ""�.�>
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<br /> � 17. EIWIRON11+1EN7'AL LAWS AND HAZARDOUS SUBSTANCES. As used in this saxion, (1) Enviromnental Law ', °,
<br /> mr�ans. without limitadon,the Campreheasive Environmental Response,Compensadon and Liabiliry Act(CERCLA,42 � :-.
<br /> U.S.C. 9601 et seq.). and all other federal, state and local laws, aons, ordinances,court orders, attomey general •r: . . -��:�•
<br /> .� opinions or interpreuve leuezs conceminS the public healtl�.safery.w�el�fare,euvironment or a hazardaas snbstance:and(2) •'�'��
<br /> Hazardous Substance means any wxic. radioacrive or hazardous material, w'asre. pollutant or contaminant altnch has "
<br /> ' characterisdes which render the substance dangemus or potentially dangemus to the public heatth, safery, welfare or , ` ���';:
<br /> �� euvironment.The cerm includes,without limitadon,anny substances defined as °hazardous material,° "toxic substances.' .,
<br /> � "hazardoas waste"or°hazardous substance"under any Emriromnental Law. : ,
<br /> ' �. . � Trustor represents.warranis and agrets that: •: ;'� ' ,.,��'
<br /> agr
<br /> .��- A.Except as previously disclosed and acl�owledged in!xritin8.to Beusficiary,no Hazardous Substance is or will be �."�:.
<br /> � � located, stored or released on or in the Property. TWs restnction does not apply to saall quantities of Hazardous . . . �.�.,
<br /> i Substances that are generaUy recognized to be ap ropriate for the nnm�al nse and maintenance of the Property.
<br /> j B.Except as previously disclosed and aclmawledg�in wri6ng to Beneficiary,Tnistor and evrry tenant have been,are, .
<br /> ' ; ' ..� and shall remain in fuU compliance with any applicable Bmironmental Law. . .
<br />. •,,�,., . C.Trustor shall immediately notify Heneficiary if a release or threatened release of a Ha7ardous Substance accuts on.
<br /> � 1 under or about the Properry or there is a violation of any E�viromnental Law conceming the Property. In such an
<br /> , 4 event.Trustor shall take all necessary remedial action in accazdance with any Em+ironmental Law. . �
<br /> . D.Trustor shall immediately notify,Beneficiary in writing as svon as Trustor has reason to believe there is any pending
<br /> . j or t h reatened inves6 gauon. claun, or proceediag relating ta the release or threatened release of any Ha7ardous
<br /> ' : Substance or the violation of any Environmental Iaw. -
<br /> �..` � 18. CONDEIVIIVATION.Ttustor will give Beneficiary prompt notice of any.pending or threatened action,by private orpublic
<br /> � �� ' enrides to purchase or take any or all of the ProQerty ttuough condemnauon.em�nent domain.or an�y other means.Tiustor . ,
<br /> � authorizes Beneficiary to intervene in Tn�stor's name in any of the a6ove described actions or cla�ms. Tcustor assigns to
<br /> � Benefcciary the praceeds of any award or clairo for damages connected with a condemnadon�r other taldng of all or any
<br /> � t pdrt of the Property. Such proceeds shall be c;onsidered payments and will be applied as provided in this Secwiry •
<br /> ; Instrument.This�signment of procee<ts is subje�:t ta the terms of any priat mortgage.deecf of trust,security agreement or •
<br /> . � uther lien dacument.
<br /> -. � 19. INSURANCE.Tnistor shall keep Propeny insured agai��:���y tire.flood.theft and other ha�:�:s antl risks reasorwbly
<br /> � ' as�uciaeed wich the Properry due tu us type and lucatJon. This insurance shall be meintained in the tunounts attd for the „ .
<br /> periods tl�at Brneficiary reyuites. The insurance carrier providing the insuiance shall be chasen by Ttustnr subject to
<br /> ; Beneficiary's approval, whuh shall not be unreasuntbly withheld. lf Trustor �ails to ntaintain ttte coverage described
<br /> xhove.Benefic�ary may.at Beneficiary's option, ubtxin c��verege to proteet Beneficiary's rights in the ProQerty according „
<br /> to the terms of th�s Se�:urity I�utrument.
<br /> .� ` All intiurance policies and renew�als shall be accepwble tv Beneficiary and shall include a standazd"mortgage clause"and. .
<br /> . ' where applicable. 'loss payee clawe." Trustor shall immediately nou Beneficie•ry of cancelladon ar tetminadon of the
<br /> . - • insurance. Beneficiary shall have the right to hotd the policies renewals. If Beneficiary teqoires. Ttustor shaU ` .
<br /> � immediately give to Beneficiary al1 re�;e�pts af paid prem�ums and renewal notices. Upon loss. Tnutor shall give �
<br /> immediate nodce ro the ins�rance carrier and Beueflciary. Brneficiary may make proof of l�ss�f nut made immeJia[ely by
<br /> �` Trustor. .
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