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<br /> 14. DEFAULT.Tn�stor will be in defaait if any�rerty+�blit.ateF.os thr ScY:uml Debt raiLs to makr�ym
<br /> � will be in defaudt if a breach occurs v:der di�ttm�s of dis��.uritp lnstrwnent or any other docwnent exfxvted,fur the , �
<br /> ' Purpose of creaang.se�vri�;o��a�antyinb:tie S�os�ei Debt. A boud faith belirf by Beueficiary that Benef�eiary at any : , .
<br /> . ` ' p m e��������t o�y pshall ulsu consutate an eveut of de�a W ed Debt o:that the pro�pect of any gayment or ,
<br /> � ' � I the value of tiie ProP�Y �� .
<br /> � � � 15, RE1t�DIFS ON DEFAULT.In soiue ins[anc�. fedeial and�-rate law�vill require BeueficiarY to provide Tmstor with
<br /> - . ` ; I notice of the right W cute nr other uoaces and may establisl� time schedule� for foreclosure actions. Subject to thesC < .
<br /> : � � :` � limitations, if any. Beneficiary may auelerste tve Se�.-nred llebi and fomlose this Security Insauuient u� a manner ( . ,� ' - .
<br /> provided by law if Tn�stor is in defanit. ' , _
<br /> : — --�-� all or any ait of thea�fzes and charses.acceued intere�t and cip al s�tall bec�e --� � -
<br /> � , � At the opdon nf Benefc� y. k� b 1aw, n th� ocxunence ofpa default or anytime ' .
<br /> ;{ � immediately due and paqable.,after b'►v�nS noti� if �uired Y , � , . _
<br />:�; • tliereafter. In addition. BeaeficiarY shall be endded to all the rnmedies prc��nded 6y law.the temu of the Secured Debt. .,.;t .
<br /> �: . . this Sec�uity Iasaument and any retatetl dacuments.including wi�haut linutanon,tUe power tc seU th�Property. . .- -- . -
<br /> `�� � If then is a d�fault,Tm,tee.shall. in addition to auq oti'►er Peruuue3 remedy,at the requcst of tli�Beneficiary,advertise � -
<br /> ;: . , �
<br /> ..:., aud sell the Property a�a whole or in separate parc�li at nablic aucaon to thr lu�e�t bidder tur caslt and convey absolute �
<br />,��� " � � ...a tide free and ctear of all right,dttc and wt�r�t of Tnistor at�uc:l�tune and place as Trustee dcai�ates.Tcustee shall give >
<br /> t� ,_ •� notice of s�e ineIuding tl�e time.temu and place of sale and a de,cripaon uf the propecty to 6e so2d as required by tlie ,. _
<br /> �� . apPlicable;2w in effect at tiie tinie of the propased sxle. . N,,:.':
<br /> 7" - . t [Ipon sale of the property and to tb.exteu�noc pmhi'bited by aw,'i'rust�s�aU inake and delivr,r.�dee�i to the PropeTry . ��'�_;.
<br /> �`� '' ' ��?� su2d wluck wmeys absolute dQe so the.parc�as°r,;aud after 6rst•PaYinS all f�s• cha�es and costs. shall p i i�t '` � t _
<br />:�' . < ' Benefciary a l l nu�neys a d v a n c e d f or r e p a�r s, t a x e s, i a s u r a n c e. t i e r�. a s s e s�e n u a n d p n o r e n c a m b r a n ce s a n d m ,
<br /> z��:: . _ :�°� tLesean, and the Ptin�� 3nd inte[est an the Secored Debt, PaYinB th� as, if any, ro Trustor. Benefrcia:y.may '_
<br /> ,, -1 purc2tase die Property. i ne reci�ls in auy 3ee�1 of come�ance shal;be pnma�e evi�nce of the facts set forth[herem. „ _ _'.'�`��'=
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<br /> 3; _. . All nmedies ate distinCt,Cnmvlative and nat eael�lsive.a,ul the P.enefic�ry is entidett to all remedica pmvidad ai law or ''�'_
<br /> ` . <. whether or not expressly set fonh.The acceptance by Beueficiary of any snm in payment or part�al paytuent on the _'_ `' ^r.
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<br />- ;, '„ ��;� �'' Secat+ed Debt after the balance is due ar is acceleiata:or after fureclosure pmceedings ac� �iled slwll not consdtu.e a �-�T•
<br /> �; , - � µaiver of Beneficiary's right to require wnip1ete cure of any exiy�tiu�defanl�. By not exercising any remedy on Tmstor's ".��,,;-R;.
<br /> �` � dtfault,Beneficiary does not waive Benefrciary's right to latet canti�ider the e�ettt a default if ic condn:ies or happens again. ;.`•.t�'_�.:;r .
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<br /> r- � 16. EXPF�ISES; ADVAIYCES ON COVENAI�iTS; ATTORNEYS' FEES; COLLECTION COS'�'S. Eacept when „ �''�r�
<br /> <<, • ' prohibited by law,TnLCtor agree�ta pay all uf Beneficiary's ea�peases if Tmstor breaches any covenant in d►is 5ecuri ��
<br /> ,' . I�r�en�Tnistor will als�pay on derrUwd any amount�ncurred by Beneficiazy for in�in�.inspectingnpr�+enrin or �;:�,�.'
<br /> '� "�'� otheiwise pmteccin�the Property and Beneficiary's se,cunry interest.Ti�esG expenses will be�ar interest from the date o�the ': �.,��•
<br /> '.� �ayment until paid in fuli ai the highest intere.st rate in�ffect asprovided in the tetms of the Secured Deb�Ttustor dgrees . ;'��
<br /> ' ' to pa,all wsts and expe�ues incuned by Beneficiary in.coltixting. enforcing.or protectiug Beneficiary's rigbts and �;�•
<br /> : , r r�e s u n d er t h i s Securi t q lncuument.17us amountvuty include.but is no.Iimited to,attorneys'fe�,court ws�ts.and , '•_;` ---..
<br />'.;f„ � other le�al expenses. This Secu�ity Iastnunent s h a l l remain ia e ff e c t un t i l ie l e a s e d. T n ti s t o r a g e e s t o p a y f o r a n y . ., �:�.
<br /> . recardaaon costs of such relc�se. ' �, ;-�:-
<br /> �•,4. � � ' ��������r.
<br /> ' 17. ENVIltONMENTAL LAWS AND HAZARDOUS SURSTANCES. As used iu this section, (i) Environmeniat Law � � �:-:..
<br /> 'Y�`. _ mea�,wi�hooi limitation, the Compreheaaive Enviro�ental Response. Compensadon and Liability Act(CERCLA,42 • ,_�;::1::.
<br /> • U.S.C.9601 et seq.), aad all othrr fed�ral. st�te and loral laws, ceguladonti. or�ti�nattces.conrt orders, attomey general .:;�-�_
<br /> " opinions or interprenve letters conceming the pabtic tsealtb,safety.µelfare,environment or a hazardou+substance:and(2) , :.F.;;�:_.
<br /> Hazardous Substance meaas any tuxic, ra�lioacti�e or hazardous n�a:erial, �vaste, pollatant ar conia�uinant which ha� �: =i`_
<br /> cl�araceeri�acs�which reader the substene�: d�ngerous or potentiaUy dangerc�us to the publie liealth, safety. welfare or ; �:'�:�
<br /> - ' environm:ru. The term includes,withnut 1'suitxdon.aay sub��taitces defined�.S 'hazardous materiai,° "toxic substances." � �:�r.-
<br /> . . "t�a7ardouc waste"or"haiardoas aubstauce"under any Enviro:v►���al I.aw. • , z-
<br />. _� . . ��;�K:
<br /> . .' � Tcusror represents.wurrants and agees tl�aG � . . . . . ,:i�
<br /> ,;;,'.;= �� A.Except as previously disctosecl and�claiowledged iu;wtitius to Benefi�tiary, no Hazardow Siibstauce is or wiU 6e . -,_ :
<br /> . locatecf. storecl or released on or iv tLe ProPerty. Th�s resuicaan do�not apply ta small quaadries of liazardous . `�_ ; .. -
<br /> � � Substances that are generally recogni7xd to be ap ropriate for t6C aormal use and mainteuance of tt�e Propecty. •
<br /> � B.Except as previously disclosed mid acknowieclg�in wripng to Beueficiary.Tn�stor and every tenat►t l�ave been.are, • , �
<br />:•:;,�' � and sLall remain in full compliance witL any appli�;abte Emiromuental Law. . ,. .
<br /> � C.Tn�stor shall immediately norify Benrticlary�f a release or dueatened releas:of a Has,ardous Substance occurs on, .
<br /> � .<• � � under or about the Properry or thcre is a violatiou of any Eirvironmemal Law concernin8 the Property.In sucH an .
<br /> ;' n.: ._ . � event,Trustur shall take a1t necess•ary remedial action in accarctanee�vith any Emimnmental Law. ,
<br />- D.TrtLStor shall iminediately nodfy,Beneficiary in writing as saon as Trust�r bas teason to believe there is any pendin;
<br /> ' ' � • or chreatened imestigauon. claim, or proceed�ng•relati�� to t6e rele:ue or ttueatened retc�se of any Hazardaus . �
<br /> ` �� � Substance or the violation of a�ry Env'�roamental Law• • ' ' . .
<br /> , . „__�
<br /> ` 18. CONDENINATION.Tmstor wiil give Beneficisuy pro�pt ttotice uf auy.pending or thrratti:ned action,by private or public .
<br /> .'' j � e�itities to purcl�ase ar take any or all of 4he Pruperty d�rt�ugh cond�cunauon.emmeut domain. or any other means.Trustor . . ,
<br /> � � authorizes Beneficiary to intreveue in Tmstui s nsutte in any of flte abuve de.scribed acdons or claims. Tn►stor assigns to . ,
<br /> ' Beneficiary tUe proceeds of any award or clain�for damages wm�ected wit�a condemnati�on or odier taking of all or any
<br /> = � pirt o: the Propeny. Such proceec)s sl�all U� coi�side�rd payments aud will be applied as provided in this Se�.vriry
<br /> �'„��, liuttument.This ass�goment of proceecls is suhject ro Qie temi�of any prior mortgage,deed of tcust;security agreement or . . .
<br /> ocher lien docu�nent. �
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<br /> � 19, INSURANCG.Ttustor shall keep Praperry i».vured egaiist loss by fire.tload,theft and otl�er li�ards:tn�risks reasunably
<br />.;. . . l associnted witL the Properry�ue to its t�pe.u�d loc:ttion. This insurancr sliall be maintaineJ in the aniounts and far the
<br /> p�ria,L th.�t Be»eficiary reyu�res. The insur:,�ire carric:r pnrviding tlir i�uurancr sliall be chusen b) Trustor subject tc�
<br /> � � B�neficiary's a�proval. which sliall uot be uiucasnnabiy ��•:dilie;�. lf Tn:stu: fai0� t�� e:�:a��s:�iu dic :�verage descnbrd
<br /> , .� al�ove;Benefictary may,at Benefici�ry's option,nhtain covrrag;,tu pcotect Deueficiary's ti�ts in the Ptoperry according � •
<br /> , ta the terms of th�s Security lnstrnm:nt.
<br /> I All iiisurduce policies and renew�ls:;liall be acce�tahle tu g:»eticiary:uid shnll include a�laadard"nwrt�age elause°and, �.. .
<br /> - where applicable. "loss payee clause." 'frotitor s�ll unmediately uatify Beneficiary of cancellation itt trrruination of die
<br /> " � insurance. Beneficiary shall l�aee the right ro hold d�e policies .wJ tene�vals. lf Deneficiary requites, Trnstor shall
<br /> . . � immrJiately aive to Beneficiary atl r�x;e�¢IS of paid p[r.��ums and reuewal notices. Upon loss, Trustor shall give
<br /> � immediate nanee to d�e inxurdnce carner an�Beneficiar�. 8euet'iciary may m:►ke pruof of loss if not nuide ltmnrdiately by
<br /> ' Tn�stor.
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