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<br /> � .• executed for the purpose of creating,securing or guarantying the Secured Debt. Ajgaod farth belief by L.ender that -. ''����" '
<br /> ��•. �: I.ender at any time is insecure with respect to any pecson or entity obligated on Ihe Secured Dcbt or that the prospect -� •i ' .
<br /> � . o f an y p a y m ent or the value of the Property is impaired shal!also constitute an event of default. :.;t; .�.�. -�. �
<br /> ` ` 4 � 15, [fEMEDIES ON D£FAUL'Y:In some instances.federal and state law will require Lcnder to pmvide Grantor wit h ; , ;,o
<br /> u�e
<br /> ; �-� � . ` ' � notice of the ri g ht to cure or other nouces and may establish time schedules for farecicuure actions.Subject tu these �� . L ,
<br /> limitations,if any,Lender may accelerate the Secwed Dcbt and foreclase this Security Instrurucnt in a manner
<br /> • � , ' , t; provided by law if Grantor is in default. : � � `;`f�
<br /> , At the option of Lender.all or any part o€the agrecd[ees and charges,accrued interest and principat shall become �. (
<br /> ' -•' ��--. • immediately Jue and payable,after giving notice if required by law.upon the occurrence of a default or anytime
<br /> ' , °� � � thereafter. In addition, i.ender shaU be entitled to all the remedies provided by law,the terms o[the Secured Debt. . . , ,
<br /> -- -• - this Securety Instrument and any related documents,including without limitation,the power to seU the Property. _, _ �—r-__
<br /> : � If there is a default,Trustee shaU,in addition to any other permitted remedy,at the request of the Lender,advertise ; :
<br /> � . and sell the Property as a whole or in separate parceis at public auction to the highest bidder fnr cash and convey ,: ,:�.:
<br /> f absolute title tree and clear of all right,title and interest of•Grantor at such time and place as Tru.stee designates. -
<br /> ' `' ' Trustee shall give notice of sale including the time,temLS and place of sale and a description of the property to be sotd • •� ,
<br /> ' ' ., as r e quired b y the a p plic.ahle law in effect at the time of the proposeQ sale. . °��'•_.�'
<br /> " , �` Upoa sale of the property and to the extent not prohibited by law,TnLStee shall make and detiver a deed to the Propertp ;'�,,r,,,.°•
<br /> ' � sold ahich conveys ahsolute title to the purchaser,and after first paying all fees,charges and costs,shall pay to Lender all ;•�;._^
<br /> r;�,`'.,:�,,.
<br /> ,. ' . moneys advanced for repai.is.taxes.insurance•liens,assessments and prior encumbrances and interest thereon.and the , �
<br /> _ principal and interest on the Secured Qeb�paying the surplus,if any.to Grantor.Lender may purchase the Property. � '1'""r�'
<br /> ; �, �...... ,
<br />. � � '_4�� The recitals in any deed of conveyance shall be prima facie evidence of the facts set fort4i therein. ___
<br /> � �`�%� Ap remedies are distinct,cumulaUve and not exclusive,and the l.ender is emitled to all remedies provided at law or � _
<br /> � • equity.whether or not expressly set forth.The acceptanee by 1.ender of any sum in payment or partial payment on the 4 ,� _- -
<br /> �� "�' � Secured Debt after the balance is due or is accelerated ot after foreclosure praceedings are 61ed shall nat constitute a _
<br /> � .� • � � waiver of Lend�r s right to require comptete cure af any existing defaul�By not exercising any remedY on Grantor's , :� ��,
<br /> r� • •• � � default,Lender does rtot waive Lender's right to later consider the event a default if it cantinues or happens again. ;�^`��,-:
<br /> � ` 16. EXPENSES;ADVANCES ON COVENANTS;ATTORNEYS'FEES;COLLECI'ION COSTS.Except when •• - �, s:y�.-
<br /> �•._�
<br /> ,. � prohibited by law,Grantor agrees to pay all of Lender's expenses if Grantor breaches any covenant in this Security . ,�r,�_.�
<br /> � Insuumen�Grantor will also pay on demand any amount incurred by Lender for insuring,inspecting.preserving or .: ,�;.,;..,�;.r;-g
<br /> • � �r`; otherwise protecting the Property and Lendei s security interes�These expenses wiU bear mterest from the date of : y.�<<;���
<br /> • � - the payment until pa�d in fu11 at the highest interest rate in effect as provided in the terms of the Secwed Debt. � � ;�=t�
<br /> � ' � Grantor agrees to pay all custs and expenses incurred by Lender in collecting.enforcing or protecting Lender s righis '"'�;� {
<br /> ''" � � < .� and remedies under this Security Instrumem.This amount may include,but is not limited to,attorneys'fees,court •".. yw. �
<br /> • � �•� " effe.ct until released.Grantor agrees to pay . •:}����':�
<br /> costs.and other legal expenses.Thu Security Instrument shall rema�n m _ ��*
<br /> . � • for any recordation casts of such release. '=��'
<br /> ' 17. ENVIItONMENTAL LA�VS AND HAZARDOUS SUBS'�'A1VCF•S.As used in this section.(1)Enviranmental Law •�"�`>"""
<br /> � � means,without limitation,the Comprehensive Environmental Response,Compensation and Liability Act(CERCLA, ;;;�-�_-.
<br /> � � 42 U.S.C.9601 et seq.),and all other federal,state and local laws,regulatio�s,ordinances,couri arders.attorney .;-.���
<br /> ; ,
<br /> � '�:; general opinions or intespretive letters concerning the public health.safety.wclfare.environment or a hazardaus •. . _4�' '`_
<br /> substance:and(2)Hazardous Substance means any toxic,radioactive or hazardous material,waste,poUutant or �=�.
<br /> -� ' contaminant which has characteristics which rendcr the substartce dangerous or potentially dangeraus to the public _.�t�;-
<br /> ' � ` , health,safety,welfare or environment.The term includes.without limitation,any substances de6ned as"hazardous � : •�`�y,=
<br /> " ' material:'"toxic substances;'"hazardous wastc"or"hazardous substance"under any Environmental Law. � �*�-�•-
<br /> • �'�
<br /> � , Grantor represents,warrants and agrees that:
<br /> ` A. Except as previously disclosed and acknowledged in writing to Lendcr,no Hazardous Substance is or will be : � ��'�`
<br /> '� lacated,stored or released on or in the Properiy.This restriction does not apply to small quantities of • �1• �•;�-�--,-
<br /> ' � . � Hazardous Substances that are generally recogniacd to be apprapriate for the normal use and mamtenance ot ' �.�•.;
<br /> � � the Property. �• '��'�=
<br /> . �. ` . B. Exccpt as previousiy disclosccl and acknowledged in writing to Lender.Grantor and every tenant have bcen.are. �''��. �: . =.
<br /> �� and shall remain in full compliance with any applicable Environmentat Law. :.+;.:::;:'.
<br /> ' • C. Grantor shall immcdiately notify Lender if a retease or threatened release oi a Hazardous Substance occurs on,
<br /> ' ' under or about the Properiy or there is a violation of any Enviranmental Law wnceming the Property.In such
<br /> ' . an event,Granlor shall take all necc:s.sary remedial action in accordancc with any Environmental Law. • .. � �f;�
<br /> •• �. ' �• D. Grantor shall immediately notify Lendcr in writing as saon as Grantor has reason to belicve there is any • . .
<br />'- . . pending ot thrcatened investigation,claim,ar proceeding relating ta the release or threatened releace of any
<br /> �' � Haiardous Substancc or thc violation af any Environmental I.aw. , ,
<br />`��: • • 18. CONDEMNA7'ION.Grantor will givc Lcnder prompt noticc of any pending or thrcatencd action,by private or
<br /> g � public entities to purchau:or takc any or all of thc Property thruugh condcmnation,cmincnt domain,or any othcr .
<br /> ! � ' mcans.Grantor authorir.cs Lendcr to intervcnc in Grantor 5 namc m any of the abovc described actians or claims.
<br /> � Grantc�r assigns to Lender ihe proceeds of any awarJ or c}aim for Jamages connectcd with a condemnation or othcr .
<br /> ' . laking of all or any par►nf thc Property.Such procccJs shall hc ccrosidcrcd paymcnts and will bc applicd as provided in : ,
<br /> �' .. this Security Instrument.This assignment ��f procceds is subject t��the terms of any prior mortgage,deed of trust. ,
<br /> ' security agrecmem��r other licn documcnt. � :
<br /> 19. IN5URANCE.(irantor�hell kccp Pr��perty insurcd again�t loss hy firc, flcx�d, thcft and othcr hai.�rJs and risks ,
<br /> ;�;� rcasanahly asW�c7at�d tivith ihc Pro�xrty duc to itti typc anJ location.This�nsurancc shall bc maintained in thc amounts : •
<br /> , � and for thr prriods that [.cndcr rcyuirc�. Thc insurancc carricr providing thc insurancc shall be choscn t�y(iranWt
<br /> . . . � ,ubjcct tu I,�ndcr'ti <�ppruval,which tih:�ll nnt be unreasunably wilhhcld. If C�rantor fails ta maintain thc covcragc
<br /> , descrihed ahuvc,l�:nder may.at l�:ndcr'ti uption,obtain cover�ge to pratect I xr.der ti rights in thr Property accurding
<br /> ' , � '! lu thc lcrms of thi�Sccurity Instrument. „ �
<br /> All insur.mcc Pulicic�and rencwals shall bc a�rcptahlc to lAndcr and�hall ittcludc a titandard"m��rtgagc ctausc an�i. . . ..
<br /> � � whcrc:►pplicaMc."loc�pc�Yrc clautie.°(irantor�hall immcdiatcly nutify l�:nJcr uf c:�nccllation or tcrmin.+tion uf thc
<br /> in�ur:incc.lxndcr shall havc thr right t��hold thc pulicics:md rencwal.. If(Andcr rcyuires,(irantor shall immcdiatcly
<br /> �:ivc t�,1 xndcr all rcccipt�uf paid prcmiums.+nJ mncwal ni�ticcc. l lpon lucs.(',ramur.hall givc immcJiatc notice to
<br /> � Ihr insurance carricr and Lrnder.L�ndcr may makc prnuf uf lin.ti if not madr immcdiatrly hy(ir.imur. : •
<br /> • . , .
<br /> � . � 9t:�• . . .
<br /> � (page 3 0141 � .
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