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<br /> • ' 14. DEFAULT.Tniswr will be in de�ult if�ny pzrty obligated ou the Se�vrrd Qebt fails w make payment�vhen due.Tn�stor •k' ` �
<br /> • � ' • aill be in defanit if a Meaci�oa.�urs under the tem►s af this Securiry IUSUUment or anBene6c a� ��hat BenefiCiary�ac any f-. : ,
<br /> ' ' . pwpose of creatin$,securing or guaramyin8 the Secu�d Debt.A gaod faith bel�ef by �Y e�or ,
<br /> �����nth respecc w any peison ar entiry,obli�u�on the Secured Debt or that the prospecc of any paym }
<br /> ' . . the value of the Pro�rty�s�pa�red shall also conSUtute an event of defaulG ! ,
<br /> •; 15. REMEDIES ON DEFAl1LT.In some instances. federal and s�tate law will nquire BeneSciary to provide Truscor with y • • � .
<br /> � � �• � nauce of the right to ciue or other notices and may establish t�me s�hedntes for foreclosvre actio�. Subjea ta these ; ` . � •.,
<br /> limitatioas, if anp. Beneficiary may aorxlezate the Seca�ted Debt and fom:lose ttus Sewrity Inmumeut �n a manner
<br /> ' provided by law if Tzuswr�.s m defaul[. •
<br />= --- - –--`�_� r =�-- – •
<br /> � Ae the opaon of Beuefic-�acy aU or any part of the agreed fe�es am1 ch:uges. �ccrued�ter�st and pr�ipal shaU becoine i` ' . ,
<br /> immediately dur and pay ba le.,after givtng aorice if required by law, nPon the occorreace of a de3auit or auytime < � : .
<br /> � ; thereafter. In addidon, BeneBc�ary shall be endtled to all the remedies�mvided by law, the teims of the Secured Debt. y •.. .� 'i
<br /> _ � � _ � this Security Inst�ument and any Telated da�amments,including without limuation,the power to sell the Property. E� ' .� - .
<br /> ,� ' If there is a d e f a u lt,T r u s t e e s h a ll,i n a d d i t i o n t o a n y other pemutte.�l remedy, ��for�cash and co�ey absolute � � ` ;
<br /> '` and sell the Propeny as a whole or in sepazate pacce l s az public auction to the hi bi T����ve ` -
<br /> _ . . utle free and cteaz of atl right,dde and uuerest of Tn�stor at sucti cnne and place as Tn�stee de9Snates• . .
<br /> uotice of sale including tt►e time,tetm5 ancl place of sale and a description of the pmpezry to be sold as required by tt�e �,y,.`
<br /> � �:`
<br /> _ . applicable law in effect at the time of the pmposed sale. .:
<br /> , . ';`_��_":
<br /> �. . Upon sate of the pmperry and to tlie exteut not pmhibited by law.Tnu[ee soait make and d�tiver a deed to the Propercy - . �:–
<br /> sa
<br /> �,. sold wtrich comeys absotute atle to the prmckaset. aud after first paying all fees. ci�arSes and costs, sha11�ay to : _3_
<br />,.f� � Beneficiary all moneys advanced for r��us. taxes. insuzauce, lieas, asses��±!r� and prior encambrances and mterest . ' v,,
<br /> �; . ;� thec�eon, and the pr'mc�pal and iuterest on the Se�.� Debt, PaYinS the su�lus. if any, to Trnsonr. Beneficiary,may . '� '`t.�,
<br /> .� purchase the Prope.The recitals in any deed of com+eyance sha11 be prima facte c.wideace of the facts set forth thereta ;: �
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<br />�``• . `, ; pU remedies are distinc�cumulative and not txeiusive,twd the Benehciary is entided to all teanedies provided at law ar _ , �_'_�
<br /> ';� . � equity,whether or not expressly set forth.Tt�acceptance by Henef ciary of any sum in payment or pamal PaYment on the - ���.:�
<br /> � Secuted Debt after the balance is due or u accelerated or after toreclosure proceedings ace filed sball noE wnstimte a
<br /> � �•'�,� co. 2ete cure of any exiscinS drfault. By not ea�g any remedy on Trastor,s ` '��.�=
<br /> • v�aiver of Beneficiary's right to require mP , a . -�:f:•�, ;,«_
<br />:;;- � • default,HeneflciaTy does not waive Beneficiary s right to later coasider the event a ctefault if it condnues or haPP� � ,��`> ..:_�
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<br /> 16. ERPENSES; ADVANC]ES OPI COdENANTS; ATTORNEYS' FEES; COLLECTION COS'fS. Except when --�. „�„
<br /> �Sr.: pmlubited bp law,Tn�.stor agrees to pay all of Beneflciary's expenses if Tms�tor breaches any rovenant in this Secu�rity , ..`�::,_._
<br /> .; • Insnumeat. Tnutor will also pay on de�nand any amount�ncurnd by�Beneficiary for insming inspecang presernng or } .� ,-
<br /> , othezwise pmtecdn�the Pr+�percy and BenefciarY�s security interest.These expen�es cvill bear uuerest froni the date af the
<br /> , pdyment umil paid ia full at the lughest iuterest rate in effect ar pmvided in the tem�s of the Secnred Debt.Tnutor agtees �� ':`
<br /> . . i� �
<br /> . � pay. a]! cosa and expenses inc�ured by Beneficiary in collecting, enforting.or protecang Beneficiary s riglus and ���_
<br />: ��: � . rcviedies under this Seauity lastcument. This amoant�uay include.but is noc limited to,attomeys'fees,court casts,aAd ; `:s�:
<br /> o�her tegal expenses. 'tliis Security Iw�tniment sbap remaia in effea until releasecl. Tnutor agrees to pay for any
<br /> � rr.cordanon costs of such release. :, �...::=
<br /> �� 17. ENY�tONMENTAL LAWS AND HAZAIiDOUS SUBSTANCES. As used in this sectiav. (1) Em-iro�enial Law . `+ :��'
<br /> means.without luuitaaon. the Comp hensive Envirunmental Respoase, Compensarion and Liability Act(CfiRCLA, 42 ':�
<br /> � U.S.C. 9601 et seq.). and all other federal, s[ate and local lavrs. reguladons,ordinances,court orders•attorn�Y Seaeral . ____
<br /> opinioms ar interprenve letters conceming the public health,safety,welfare.em+iramnent ar a hazardous substance:and(2) _ "°,�_
<br /> • Hazardous Substance means any wxic. radioactive or hazatdous material. waste, ollutant or wnt �a�i�*!� wl�ich 1�as • •••�:
<br /> � safety, welfare o� •��_::.
<br /> ' chaiacteristics which render the substance dangerous ar potetuialty dangerous w e public healtl�, ��c substances. � • �."__
<br /> ' e�n+iro�nen�The term includes, without limitadon,aiy subswnces de5ned as°Lazardous material," "
<br /> � � ^hazarttous waste"or"Hazardous substance"iwder any Lirviromnenral Law. .. •
<br /> ; � ', Trustor represents,warrants and agrees that: ' . � "
<br /> ��� ' A.Except as previously disclosed and ackaowletlgrtl in wridn�to Beneficiary. no Ha�ardous Substance is or will be _
<br /> �•;�` - ' tocated, stored or reteased on or in the Property.This restnction does not ap ply to small quandties of Hazardouc �
<br /> ,';� . - � Substances thaat are generally recogni�x�l to be a p propriate for the nom�al use an d maintenaace of the Property.
<br /> � • � B. Except as previo u s ly d i s c t os e d a n d a c i m o w l e d g e d i n w r i t i n s t o B e n e fl c i a r y+.T n u ro r a n d ev e i y tenant have been,are. , �;,�
<br /> � � and shall remain in full compliance with:u�y applicable Enviro�unental Law. .
<br /> � ' -� � C.Tnistor shall immecliatelY norify Beneficiary if a release or threatened release of a Hazardous Substance accurs on. . .
<br /> ' �'+ under or about the Property ar there is a violadan of any Enviro:�mental Law conceming the Property. ln such an
<br /> • , event,Tnutor shall[ake aU necessary reruedial acdon iu acconlance with any Enviromnental I.aw. .. .
<br /> � D.Tzustor shail immediately norify,BeneSciary in writing:�saon as Trussor has reason to believe there is any pending � � .
<br /> � � or t t ueaten e d investigaaon. cla�m. or pTOCeeding relating w tlie releace or threatened rele�ase of any Hazatdous .
<br /> • 1 Sa�stance or the violation of any Environmental Law. :.
<br /> ��;� ` 1�. COIWENIIVATION.Trustor wiU give Beneficiary prompt noacx of any.penctin�or ttueatenetl action.by ptivate or public -
<br /> ' entiues to putchase or take aay ar all of the Properly through condemna�an,c�nent domain.or uny other means.Ttustor
<br /> � authorizes Beneficiary to intervene in Trustor's name in any nf the abo�•e described acuoas or claims.Tzustor assigns to � ;
<br /> � Benefleiary the proceeds of any award ar cluim for clam•rges connecte�l with a condemnadon or other taldng of all or any ,
<br /> : im
<br />° � ` pirt of the Pcoperty. Such proceeds shall be wnsidered yaymentti avd will be applieJ as provided in this Secwity
<br /> ; I�utcument.'I'his ass�g�unent of proceeds is subjrct tu the teim.,af any prior mongage.deed of m�st,�e�:urity agreearent or .
<br /> ' other lien documeut.
<br /> " 19. INSURANCE.Truzcor shait keep Property iivurrJ against l��,s by firc. FWlJ. II1Cit xr�d atl�er hazarcL�and risks c�asutfably .
<br /> :��•s:ias�.!wich�l:c P*op��, �uo tu,is cy�and tu�:acion. This insura�ice shap be maiatained in the aniounss and for the
<br /> ' i p�riods that Bei�eficiary regmres. The iiuurauce carriei providiag the insurance shall be cUusen by Trustor subject to
<br /> . • � I Beneficiary'� appruval, wh�ch shall nat he mueaso»av;y w:thheld. lf Tnistor fails to maintain the coverage described �
<br /> .�� ^ , i aUove.Benefic�ary may, at Beneficiary's optian.ohCeiu coverage to prot�t L�eneficiary's,rights in the Prapeny according
<br /> ta the terms of th�s See:urity Instrument.
<br /> � '� � All insuran�policies and renew�als shall be acceptable tu Hruetici�ry anJ sl�a�l inciude a�tnnQacd"mongage clause" and, �
<br /> whete applica6le. "loss payee dause." Trustor shall immediately notify Beneficiary of caiu;ellauon or term�nauon of the ,
<br /> � iasurance. Benefcciary shall bave the right to ho1J the policies and renewals. If Beneficiary requires. Trusror shall
<br /> � � ' immediately �ive to Beneficiary all.rece�pts of Paid preroiunu and renewa! notices. Upon loss, Trustar shall pve �
<br /> • immediate nut�ce w the in,urance camer and Beneficiary. $eneficiary may make pmof��f loss if uot made iuwediately by
<br /> � Tnistor. .
<br /> , �pag�
<br />' ., , <t994Ba�te�s>ra�e��o. �� St C�o��tAq It 800397.i341� Fo�ma���T tff 9.13�96 V
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