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<br /> . ` rxecutcd for thc puryasc of crcatin�,sccuring or guarantying thc 5ccurcd Dcbt.A gcwd faith bctici hy Lender that . ,.ti�,
<br /> • . l.ender at any time is insecure�Yith r�5pect t��an}�p��n ar entity ubligated on thc Secund Deht or that the prospret ;
<br /> � • • ut any payrnent or the value of 1he Praperty is imp:�red shall aLcu constitu[e an evcnt of default. °:.�,1" _
<br /> r 15. REMEDI�S ON DEI�AULT.In some instanc�.�s, federal and state law will require E.ender to provide Grantor with `���<
<br /> � " . narice of the right to cure or uther notices and may establish temc schedules for foreclosure actions.Subject to these : `. .
<br /> - � � ' � "" limitations,i[any. Lxnder may a..�t:elerate the Secured Debt and forectosc this Security insirument in a manner ,
<br /> , ,< c provided by law if Grantor is in defautt.
<br /> � =- At the option of Lxnder,all or any part of the agreed fees and charges,acrrued interest anJ principal shall become _ _ _ _ _
<br /> - -�� immediateiy due and payabte.after giving notice if reqtured by law,upun the o�:currence of a de[ault or anytime �r-' � T_` _
<br /> �, � thereafter.ln addition.Lender shall be entitled to all the remedies provided by law,the terms of the Secured Debt. . .. .n,';
<br /> � , � ' ? this Security Instrument and any related documeats,includiag without limitation,the power to sel!the Property. , ,
<br /> ' ' If there is a default,Trustee shal�,in addition to any other permitted remedy,at the request of the L.ender,advertise .
<br /> - � and sell the Property as a whote or in separate parcels at pttbtic auction to the bighest bidder for cash and convey
<br /> - absolute title frse and ctear of aU righ�title and mtemst of Grantor at such tune and place as Trustee designates. ,,
<br /> . � � Trustee shall give notice of sale inctuding the tirae,terms and place of sale and a description of the property to be sold ,
<br /> - � _ : � as required by the appGcabte law in effect at the time of the proposed sate. ;,�. ,
<br /> - � Upon sale of the property and to the extent not prohibited by law,Trustee shall make and deGver a deed to the Property ;-, :
<br /> � ' ` sold which wnveys absolute titte to the purchaser,and after 5rst paying all fees,charges and costs,shaU pay to Lender all _ :.�;,..;_;��
<br />-. � .. � mone ys advanced for r e paizs.taxes,insarance•liens,assessments and prior encumbrances and interest tliereon,and the .:.,;;��,E
<br /> principal and interest on the Secwed Debt,paying We surplus,if any,to Grantor.Lender may purchase the Property. `_
<br />", � ' The recitals in any deed of canveyance shall be prima facie evidenre of the faets set forth thereia. ,•, _.
<br /> AA reraedies aze distinct,cumalati�:e and not exclusive,and the Lender is entiQed to all remedies provided at law or ..•� :�':v�
<br /> � equity,whether or not expressly set fottfz.The acceptance by Lender of any sum in payment or partial payment on We • '..;;:�,.�_
<br />:=;��;�: • _ _ Seewed Debt after the balance is due or is accelerated ar after foreclosure proceedings are Qed shall aot canstitute a --__. `� ,�;
<br /> � waiver of Lender's right to require complete cure of any existing default.By not exercising any remedy on Grantor's
<br /> ' . . default,Leader daes not waive L.ender's right to later co�tsider the event a detautt if it continues or happens again. J •�t i�
<br /> - - 16. EXPENSES;ADVAP{CES ON COVENANT�;ATTORNEYS'FEES;COLLECI70N COSTS.Except when • ,:`� ;,�._
<br /> . � � profitvited by law,Grantor agrees to pay all of Lender's expenses if Grantor breaches any covenanf in this Secnrity r�n -
<br /> °� �� ' .. ' Instrument.Grantor w�71 also pay on demand any amount incurred by Lender for insuring,iaspecting,preserving or .:,;�'�.;-,�;�"�_
<br /> . ' otherwise protecting the Property and Lender s security interest.These expenses wi11 bear interest from the date of ,`�:
<br /> the payment until paid in full at the highest interest rate in effect as provided in the terms of the Secured Deb� L t ���
<br /> . Grantor agrees to pay a U costs an d expenses in c u r r e d b y I.e n d e r i n c o l l e c t i n g,e n f o r c i n g or protectin g Lender s ri ghts �:�'�•
<br /> , . ,:�;s-.�-�.
<br /> .: � and remedies under this Security [nstrument This amount may include,but is not limited to,attomeys fees,court . �,-.__
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<br /> . • � . • costs.and other legal expenses.This Security Instrument shaU remain in effeci until released.Grantor agrees to pay '�,_�,..�
<br /> , for any recordarion costs of such release. •�.; '��
<br /> 17. ENVIRONMEIVTAL LAWS A1VD HAZARDOUS SU�S7'ANCFS.As used in this section.(1)Environmental Law � '`_•��`r
<br />`°�: means,without limitation.the Camprehensive Environmental Response.Compensation and Liability Act(CERCLA. , : •�::
<br /> 42 U.S.C.9601 et seq.),and all other federal.state and tocal laws,regulations,ordinances. court orders,attorney :.L'�_
<br /> '-- ' `- generaJ opinions or interpretive Ietters concerning the public hcalth,safety,wclfare, environment ar a hazardous :.-.-=
<br /> � ` substance:and (2) Hazatdous Substance means any toxic,radioactive or hazardous material.waste,pollutant or ��� -��;::
<br /> � contaminant which has characteristics which render the substance dangerous or potentiapy dangernus to the public � ��,�
<br /> healtii,safety,welfare or environment.The term includes,without Gmitation,any substances defined as••hazardous .. . .,_, ..,_
<br /> � material.""toxic substances:''•ha7ardous wastc"or"hazardous substance"under any Environmental Law. :::�� .'.''���-�,�
<br /> . - Grantor represents,warrants and agrees that: ' '___
<br /> •• � � ' A. Except as previously disclosed and acknowledged in writing to Lender,no Hazardous Substance is or will be ::�-„�;,,
<br /> � tocated.stored or released on or in the Property.This restriction does not apply to small quantities of � •�-��-
<br /> : ,�
<br /> . � �. � • Harardous Substances that are gcnerally recognized to be appropriate for the normal use and maintenance af :_ .� .
<br /> thc Property. . '� - -
<br /> � B. Except as previousiy disclased and acknowledged in writing to Lender.Grantor and every tenant have been.are, � . .:�, `- :
<br /> �" � and shall remain in full compliancc with any applicable Environmental Law. �� .
<br /> � C. Grantor shall immediately notify Lender if a release ar threatened relcase of a Harardous Substance occurs on, • � . �
<br /> � • ' � under or about the Property or there is a violation of any Environmental Law canceming the Property.In such . _
<br /> • . � an evcnt.Grantor shall take all necessary rcmcdial action in accordance�vith any Enviranmental Law.
<br /> � D. Grantar shall immediately nntify L.cnder in writing as soon as Grantor has reason to believc therr is any , •
<br /> ' • . ' pending or threatened investigation,claim,or procecding rclating to the rclease or threatened release of any
<br /> • - . • Hazardous Substancc or thc violation of any Environmcntal Law. •
<br /> � � � 1l3. CONDEMNA770N.Grantar wip givc Lendcr prompt natice af any pcnding or threatened action,by private or . � .
<br /> ��� '� puhlic entitics to purchase ar takc any or ail oi the Property through condcrnnation,emincnt damain,or any other • .
<br /> �� means. Grantor auth��m.es Lender to intcrvcnc in Grantor's name in any of the ahove described actiores or claims. .
<br /> � � Grantor assigns to Lcrtder the proceecis��f any award or claim for damages connected with a wndemnation or other � .
<br /> � � taking of all or any part of the Property.Such pracceds shall he a�n�idcred payments anJ will he applicd as provided in ,
<br /> • this Sccurity instrumcnt. This assignmcnt of pmcccds is tiuhjcM to thc terms of any priar martgaga dccd af trust.
<br /> � security agrecmcnt or other licn document. . • �
<br /> 19. INSURANCF..(ir�mor shall kecp Property insured against loss by firc,fluod,theft and other haiards and risks � �
<br /> ' � . rcasonably assuciatcd with!hc Property due ta its type anJ locatiun.This;nsurance shall hc m�intaincd in the amounts �• :
<br /> . ' , • and for thc periuds that Lc.nder rcyuires. 'nc� incurancc carricr pruviding thc insurancc shall hc chuscn by Grantor . _ .
<br /> � � subjcct tu l.�adcr's appmval,which shal) not he unrcasanably withhcld. Ii(;rnntor fails to maintain thc cuvcragc
<br /> deticriheJ ahovr.I�:nder m�y.:�t IAnder's option.nbtain coveragc to prutcct I.�nder ti rights in the Property accurding
<br />. � � t�,thc lcrms of'this Security ln�lrumcnl. ..
<br /> . � /�II insur.jnee p��liries and renewal.shall hr aeeeptahle to Ixndcr and shatl include a standard"mc�rtgage clause"and. . �
<br />: _ j where:,��i;u,hi�.°i��,•r�ryee clause.°(;rantur yhall immedialcly n�riify I.cnder��f cancellatiim or terminatiun of the . .
<br /> insurancc.l�ndcr shall havr thr right tu hold ihc pulicics and rene�vals. If l.�nder rcyueres.Grantor�hall immcdiatrfy
<br /> � give tu l.�ndcr al)recripi�uf Paid pnemiums and renewal nulices,lJpon luss.(irantor shall give immeJiate notice to
<br /> thr insurancc carricr nnd Lcndcr.l.cndcr may makc pro��f nf locti if n��t madr immediatcly hy C;rantor.
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