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<br /> or uaraat in the Sccurcd Ucbt.A goo�'faith belicf by Lender that • �'<� �
<br /> - . • � `y executed for lhe purpose of creating.securing g Y g , .. . ,`r
<br /> � � �� Lender at any time is insecare with respect to any person ur rntity��bligatui on the Securcd Debt�r that the prospect • .
<br /> ' � �� of any payment or tt�e value of the Properiy�s impaFred shaU also wnstitute an event of defautt. . • . •
<br /> � � 15. REMED➢ES ON DEEAiJLT.In some instances,federal ascd state law will rcquire Iw:nder to provide Grantor with •. !`-. .;
<br /> � , notioe of the right to cure ur e�ther notices and may establish time schedule.5 for fareclosure actions.Subject to these ,
<br /> � ` ' limitations,if any.Lendcr may accclerate the Secured De bt an d forec lc�e:t his Securi t y I n s t r u m e n t i n a m a n rt e r
<br /> ":,� • � provided by taw if Grantor is in dctault. �a. ` •;`,.°.'
<br /> �� � . ---�� At the option of ixnder,all or any part of the ageed fees and chargcs.accrued interest and principaf shaU become �,„ �
<br /> ' 'r-^--""` immediate{y duc and payable,aflcr�v�ng notice if required by law,upon the uccurrence of a defaWt or anyume •'�
<br /> °� � thereafter.In addition.Lender shall be entitted ta all the remedies provided by law,the terms of the Secumd Oebt. Y J-�
<br /> � r this Seeurity Instnunent and any related dacuments,in��luding without limitatiun,the p��ver to sell tlie Property. �•- _ -
<br /> f; ,' •, ' ' If there is a default�Trustee shall,in addition ta any ather per[nitted remedy,at the request of the I.ender,advertise `�� . � �;��
<br />- ' - and seq the Property as a whole or in separate parcels at public auction to the highest bidder€or cash and coavey ,
<br /> •�Y ' �- � absolute Ade tree and clear of all right,utle and interest of Grantor at such time and place as 7�rustee designates. �,�';.... ��:�:.••.,
<br /> "• .� 't�vstee shall give notice of sale including the time,terms and place of sale and a description of the property to be sold ' `-<,.o.�;-ru:
<br /> F.:fr :. � as required hy the applirable law in effect at the time of the proposed sale. �•'�,�.Y_
<br /> ' . Upoa sale of ihe property and to the extent not prohibited by law.Trustee shall roake and deliver a deed to the Property _
<br /> .':,�� sold which conveys absolute titte to the purchaser,and after first pay7ng all fees,charges and costs,shall pay to Lender all ; ,.._.� ••
<br /> • moneys advanced for repairs,taxes.insurance,liens,assessments and prior encumbrances and interest therean,and the =
<br /> = � ` ��� principal and inierest on the 5ecured Debt�paying the surplus.if any,to Grantor.Lender may purcbase the Property. �••�" �� ___._
<br />`��. � The recitals in any deed of conveyance shall be prima facie evidence of the facts set forth therein. _
<br /> •, _
<br /> ' AU remedies are distincK.cumulative and not exclusive,and the Lender is entitied to all rcmedies provided at law or .. —.
<br /> � � � equity,whether or not expressty set forth.The acceptance by Lender of any sum in payment or partial payment on the ;, �<,;.�:-
<br /> • - Secvred Debt after the balance is due or is accelerated or after foreclosnre proceeding.s are filed shall not constitute a ,�' �'.•.�_=_
<br /> • ° �` waiver of L.ender s right to require wmplete cure of any existing defaul�By not exercising any remedy on(3rantor's _� ;_�
<br /> '" ''" default,L.eader does not waive L.ender's right to fater cons�der the event a default if it continues or happens agaiu. '.t�:: � >.'�`�'�
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<br /> ' 16. EXPENSES;ADVANCES ON COVENANTS;ATTOR1ofEYS'FEES;GOLLECTiON COSTS.Except whea
<br /> ' � • � prohibited by law,Grantor agrees to pay all of lxnder's expenses if Grantor breaches any covenant in this Security " .��`-
<br /> ��,`'' Insuument.Grantor wiU also pay on demand any amount incurred by Lender for insuring,inspecting,presenriag or �. 1 _�
<br /> : ,.,_ otherwise protecdng the Property and Ixnder s security interest.These expenses will bear interest from the date of ���-
<br />- � � �� v�` ` the payment until pacd m full at the highest interest rate in effect as provided in the terms of the Secured Debt _ ,�„�,,_
<br /> ::t''' ' � ': Grantor agrees to pay al!costs and expenses incurred by Lender in coAecting,enforcing or protecting Lender's rights � `iq—�-
<br />� . � � •' and remedies under this Sec�irity Instrument.This amount may include,but is not�imited to,attorneys'fees,court , �'-;,�„;,_
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<br /> , � casts,and other legal expenses.This Security Instnunent shall remain in effect unt7 released Grantor agrees to pay . ,:___
<br /> �.,:':.�� � � ' for any recordation costs of such release. . . 'r�,.`::�
<br />'�:.• � � i ;��� 17. ENVIR010IMENTAL LAWS AND HAZ.�ADOUS SUBSTANCE�as used'ui this section.(1)Environmental Law .. . .
<br /> ' • � means,without limitation,thz Comprehensive Environmental Respanse.Compensation and Liability Act(CERCLt1. .�,;,�,.�
<br /> . • 42 U.S.C.9601 et seq.).and aEl other federal.state and local laws,regulations,ordinances.court orders. z:Arney , ` �f�?�
<br /> .�. - �. � general opinions ar interpreti��e letters co:c�ming the public health.safety,welfare.environment or a�..�rdous : . �-
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<br /> '..: • ."..__.. .. . _: substanee;and (2)Hazardous Substance e�seans any taxic,radioactive or hazardous materia4.waste,polIutant or .�-,:, �
<br /> ` ���� contaminant which has characteristics�vhich render the substance dangerous or potentially dangerous to the pubUc • �=��
<br /> � • health.safety,welfare or environment.'fhc tcrm includes,without limitation,any substances defined as"hazardous , , ,�,.��,�``
<br /> material.""toxic substanees.""hazardous waste"or'•hazardous substance"under any Environmental Law. `'';��;;_
<br /> ' Grantor represents,warrants and agrees�hat: �=
<br /> � . � A. Except as previously disctosed and ackaowledgcd in writing to Lcnder,no Hazardous Substance is or will be <, _
<br />�.,';;.�.. ' �,. located,stored or relcascd on or in the Property.This restriction does not apply to smal!quantities of ;�-
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