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<br /> - � 14. DE�AULT.Tmstor will be iu default if any party obligateii on the Secuml Debt Fails tu a�ake paytuent when ttue.Tnutor `" "'
<br /> . � . �� ` � ;� arill6e in defa�lt if a bieach accuis nnder d�e temi.+of this Security lnsaumens or any utlier ducument executed for the • '.
<br /> puzpose of creating,sec.vring or gnaranrying the Secured Drbt. A gaod faith belief by Br.neficiary tbat Beneficiary at any `
<br /> _ �, ' � � ptime is inse�se Rnth respect w any person or entity.obiigatal an the Seatied Debt or that the prospect of anY paynieat or � ,
<br /> - . .� the value of the Fmperty is impaired shaU also wnsntute an cvent of defaul� ' .
<br /> �,4 -. 15. L�EMEDIES ON DEFAULT.In some in�tances.federai and state!aw will mquire Beneficiazy to provide Tmstor with � ' ' .
<br /> �.� . , , _ , notice of the right to c�ue or other noaces and may establish dme schedules for foieclosum acaons. 5ub,ject to these ,
<br /> . ,� limitations. if any, Bene�ciary may accelerate the Secnied Debt and foreclose this Security Insuumeni m a manner .
<br /> 1,� � .-ti`,�y � provided by law if Trastor u in defaulG _. .-
<br /> - �- <' At the option of BeneScia�}r,all or a�!�art of the agreed fees ansl cLarges,acciued inierest aiW p�p al shall become -_ -��_.
<br /> ac u
<br /> immediately due and payanle,_after gcvmg nouce if rEquued by law, upon the occurrence of a defantt or anytime `
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<br /> v` • � � the�eafter. In addition, Benefc�ary sbaIl be entided to atl the iemedies provided 6y law,the terms of the Secured nebt, . ..
<br /> ' � ' this Secariry In,�trument and a�r related ducuments,incIudins without limitati4n,the power to seU the Propeny. ���`� -`-`• �
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<br /> �_�.. . ` ' '. If there is a default.Trustee shall,in addifion to aay other peimitted reiuedy,at the of the BeneSciary,advertise ° � .
<br /> '' and sell the Pmpeity as a whole or in sepatate paTcels at public auction to the highest b�for cash and comey absotate :'�:, � ._ ` ��
<br /> ��Y� � = � title free and clear of aU right,title ancl mterest of Trastor at sucI�time artd place as Trustee designates.TnLStce shall give � -.'�.,
<br /> ?`: . ,: � notice af sale including the time,teims and place of sale and a descriptioa of the pmperty oo be sold as�equited by t h e . T;;;':
<br /> ��; applicable law in effect at the time of the pmposed sale. ` " -
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<br /> : �t• Upon sale of the pmp�rty and to the extent not pmIu'bited by law,Tiustee shall ntake and deliver a deed to the Properiy `_•�.. ; „`
<br /> � ��` � t sotd wIuch comreys absolute dde w the.parchaser, and after fust paying all fees, charges and costs. shall paY to . _
<br /> r?=. . Beneficiary aIl moneys adva�nced for repaus, taxes, insurance, l�os, ass�sments and prior encambtances aad miezest , _--
<br /> %,�i, . _ thereon, and tLe principai and interest on the Secared Debt, Pa3�g � �41us, if anq, to Tn�stur. Beneficiary may ;��L� .:_�•.
<br />�:t: . . - -:;. �
<br /> �,;; • •• . '� pmchase the Property.•Ine reatals in anq deed of comeyance sball be prima facce evidence of the facts set forth therem. • ;_ ..�. ;
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<br /> �� . � ,� All remedies are distinct, camulative aud not excla�ve.and the Bensfsct'ary is entitled to all xemedies prnvided at law or �y -
<br />,.,^•,�, . , equity.wflether or not eap�essly set fonh.Thc acceptance by Beneficiary of any sum in paparent or pamal payment on the :�'.,�
<br /> ;��,- • Sec.� Debt after the balance is due or is accelecated or af[er for�closute proceedings are Sled shall not constitute a .g. _
<br /> �� • Raiver of Benefcciary's right to require complete cure of any exisang defanit. By not exercising anp remedy on'Civstor's _
<br /> � , default,BeneHciary does not waive Beneficiary's right to later consider the event a defanit if it continaes or happens again. ��. `
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<br /> ' 16. E1�PII�TSFS; ADVANCF.� ON COVENANTS; ATTORNEYS' FEFS; COLLECTION COSTS. Sxcept when �� .;�;.�-'
<br /> �� 'bired by law,Tivstor agrees topay aU of Beneficiary's expenses if Tnutor breaches any covenant in this Secuaty ��'�'}�s._
<br />'`��` . . �ent.Trnstor wili also pay ou demaud any amovnt mcaired by Beneficiarq for insUring,insPectin8. preseiving ar �.�:_=
<br /> %;�`�� o�erarise protec[iug[he Prnperty and Benefcciary's security interest.These expenses will bear mterest from the daie of the %;:�`"�
<br /> `� payment tmtil paid m fall at ttte Iughest interest rate iu effect as provided in the tem�s of the Sccated Deb�Ttastor ap+�s . ;`;-.,::'s
<br /> .J`; . to pay all costs and expenses incurred by�Beneficiary in.collecting. enfox�ing.or prorec6ng Beneficiarq's righu and , '� ''� ��-
<br /> remedies uuder this Seauity in�++�+�±!�.TWs amoant may mclude,but is not liauted w.attorneys'fees,conrt costs,and ,_� �,
<br /> - � � � other legal expenses. lfiis Secarity Instnunent sLall remain in effect undl released. Tn�stor agrees to pay for any � . •,., .
<br /> recordanon easts of such�lease. �'.:• '.
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<br /> �;_:; 17. ENVIItONNNYENNTAL LAWS AND BAZARDOtJS SUBSTANCES. As used in this sectlon, (1) Emironmental Law ._ � __
<br /> Y-° - means, without limitadon. the Comprehensive Envim�ental Respon�e.Compensadon and Lia691ity Act(CERCLA.42 .. .��=�:
<br /> U.S.C. 9601 et seq.). and all other fedeial. state and local laws,regulatians.ordinances,court orders,aaomey general � , •�:�y;
<br /> ���., opiuions or interpieave letteis conceming the public health,safery,welfare.environmeut ar a ha7ardous substance:and(2) � '-='
<br /> Harardous Substance means any toxic. radioactive or hazardovs material. waste. pollutant or contaminant wluch has . ` •:�`
<br /> = � ci�aracterisdcs which render the subs[ance cl�wgerous or potentially dangeruus to the public health, safety. welfare or � • -�
<br /> �`' euvironment. The tean includes, withaut limitation, anny substances defined�s "ha7ardous material." "Wxic substances." '
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<br />- "i�a7ardous waste"or°hazardous substance'under any Eavlronmental l.aw. . �,�,
<br /> �+' ; . Trustor repmsents.v,arrants and agrees d�at: � „ �
<br /> �.��' �P P Y s S �►. no Hazardoas Sabstance is or wiU be -
<br /> �_.. . . A.Ex t as reviousl dlsclosed and acknowted ed iu wridn to Benefic' � ;
<br /> _ ��� . : � � iacated, storecl or released on or in the Praperty. This restricdon daes not apply to small quan6des of Ha7ardous _ .
<br /> �•.�.�; . Substances that are generally recogaized to be appropriate for the noimal use and maintenance of the Property. �
<br /> '" ' • B.Except ay previavsly disclosed and aclmowledged in writing to Beneficiary.Tsustor and every tenant have been,are. - • .
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<br /> ?�,t;. and s6a11 remain m fWl compliance with any applicable Emrironmental Law. .
<br /> • C.Trustor shall imraediately notify Beneficiary�f a retease or threatened rele�ase of a Hazardous Substance occuis on, �
<br /> � under or about the Property or there is a violation of any Environwental Law conceming the Property.In such an '." ' �,
<br /> � � event.Tnutor�shall take all necessary remed'ea]action in accontance with any Emriron[aental Law. � F
<br /> ' D.Tnutor shall immediately no6fy Beneficiary in writing as soon as Tn�stor has reason to believe there is any pending � � .
<br /> '�„'J • • ' or ttueatened invesdgauon. claun, ar praceedi»g relatiag to the rele.�se or tlueatened rel�ase of any Ha7ardous .
<br /> Substance ar the violation of any Environmental Law. - • .
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<br /> . �•:,S . 18. CONDEMNATION.Tn�sror wiU sive Beneficiary prompt nolice af any�peiuling or thrratened action,by private orpublic •
<br /> . eutides to purchase or take any or all of the Property tluou�l�condenmanon.c�uunent domain,or any other mr.ws.Trastor , . •'
<br /> ' .. autharizes Beneficiary to interve»e in Trustor's name ia any of the abave drscribed ac6ons or ctaims. Tnutor assig�u to •,; ' �
<br /> . Beneflciary the proceats of any awatd or claim for damages connecteJ with a conderonation ar othec taking of all or any • .
<br /> ' part of the Propetty. Such proceeds sliall be considerecl payments aud will be applied as pruvidetl in this Security
<br /> - liutrument.ThSs ass�gnment of proceeds is subject to the terms of any prior mongage,deed of uvst.security agteement or �, .
<br /> � � , other lien document. . �
<br /> � '' 19. INSURANCE.Trustor shall keep Prupeny i�uured against loss hy fire,floud,d��ft anQ other lia�erds and risk,reasonably ,
<br /> ... � a.uociate�with d�e Prupeny aue to its type anJ location. Tl�is i�uura�ur sball br n�intained iu U�c anwants and fur the �
<br /> , . periods that Beneficiary regmres. The insvrance carrier providing the insvrance shall be chosen by Trusror subject to . �
<br /> , Beneficixry's approval. wWch sha11 not be wueasonably withheld. If Tmstor fails to maintain the coverage describe�l ,
<br /> ;� ''� . • above. Beneficiary may,at Beneficiary's uption,obtain coverage tu protect Beueficiary's rights in the Pcoperty accarding
<br /> {. ��� tu the terms af th�s Srcurity lnstrument.
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<br /> � AU insurance policies auJ renew;ils shall be acceptable to Beneficiary and shall inclade a standard"mortgage clause"and.
<br /> �:''�� � where applicable. "loss payee dause." Tnistor shall immediately notify Benefic'�ary of caacella6an or tetminadon of the �
<br /> '• inswance. Beneficiary shall I�ave the right to liold Qie policle� and renewals. If Beneficiary reyuires. Twtor shall
<br /> •� iramediately give to Beneficiary all re�:e�pts of paid prenuums and tenew�al notices. Upon loss. Tmstor shall give
<br /> ,_�.� ut:mediate notice to the inscrance carrier and Beneficiary. Beneficiar}r may m.�Ce prouf of loss if not made immediately by
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<br /> Trustor. �
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<br /> `- n1994 Bar2en Systarv,o-v_,St CiouO.Mt7 1/�800�397�23671 co.m RE DT�hF 9/73�98 '
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