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<br /> . .� ` � or the Serured Debt.A good faith beli f by Lende�r that � ,
<br /> eRecuted for the pu�pose of creahng,securu�g g��& , �. :
<br /> ecurmg
<br /> •. :; � . � Lender at any time is insecure with respect to any peison or enuty obligated on the Secaued Deht or that t6e prospe� �,, t � ; : --•�,.-
<br /> � � of any payment or the vat�te of the Property is impaired shaU also aonstitute an event of defaul� : '��f,:�.� `
<br /> • � ' ' IS. �iEMEDIES ON DEFA(JLT.In some instances.federal and state law vuill require Lender to provide Grantor witb � � ,,
<br /> .` • notice of the right to cpre or other nouces and m�y.establish time sc�hedutes for foreclaswe actions.Subject to these ; � _.;.�; :�
<br /> �_ . limitadons,if any.Lender may accelerate the Secured Debt and foreclose this Securiey Instrument in a manner ;�.�; ..; "
<br /> : ,��..; provided by law if Grantor is in default �
<br /> ' � �- < At the option of Lender,all or any part of the agreed fees aad charges,acerued interest and principa!shall become . '..u.�� �
<br /> . _ -•---'� immediately due and payable,after giving notice if requ'ued by taw, upon the accurrence of a defaWt or anytime _ , . ,
<br /> � � � �-;� thereafter.In additian,Lender shall be cntitled to all the reuiedies provided by law,the terms ot the Secured Debt,
<br /> < � � ` thu Security lnstrument and any related documents,including without limitation,the power to sell the Property. - =;
<br /> If there is a defaul�Trastee shall,in addition to any other pemutted remedy,at the request of the Lender,advertise ���•��}='�� ��: ; -;
<br /> � � ° and sell the Property as a whole or in separate parcets at public auction ta ttie highest bidder for cash and comey • N.�.•:4.:'•� .,
<br /> - absolute title ftee and clear of all right,title and interest of Crrantor at such time and ptace as Trustee designatas. .=:'�;4� s�_.�
<br /> ���� �. •� Trustee shall give notice of sate including the time,temB and place of sale and a descripuon of the property to be sold r'�` ��. ��f -
<br /> • . . . as required by tlte appticabie Iaw in effect at the time of the proposed sale. ;-`.p "'� ��
<br />- � • Upon sale of the property and to the extent not prohibited by law,Trustee shall raake and deliver a deed to the Property � _ :=`-�-
<br /> ` sold which conveys absolute title to the parchaser,and after 6rst paying ai1 f2es,charges and c�sts.shall pay to Lender all , ..:�:.��._
<br /> ' ' • ' moneys advanced for repairs,taxes.insurance,liens,assessments and prior encwnbrances and interest thereon and the � ' ._
<br /> ,� .';";: principal and interest on the Secared DeOt,paying the surplus,if any.to Grantor.Lender may purchase the Property. „ .� •-_.
<br /> - . ���� The recitaLs in any deed of conveyance s h a l l be prima f acie evi dence o f t 6 e f a c u s e t f a r t h t h e r e i n. _ _
<br /> All remedies are distincG cumiilative and not exclusive,and the Lertder is entitled to all remedies provided at law or • -
<br /> - egirity.�v6ether or not expressly set forth.The acceptance by Lender of any sum in payment or partial payment on the ��<:t� � �
<br /> � Secured Debt after the balance is due or is accelerated or after forectoswe proceedinps are filed shall not constitute a -'°�
<br /> ' waiver of L,ender s right to require complete cure of any existing defaul�By not exercising any remedy on Grantor's ;, ��-��
<br /> -�-�� `�� ° �'� ' d�fault,Lender does not waive Lender s right to later consider the event a@efault it it continues or happens again. •-:�'���='-���''=
<br /> ' `t 16. EXPENSES;ADVANCES ON COVENAN'�S;ATTORNEY�'1FEES;COLLECTION COSTS.Except when ��
<br /> prohibited by law,Grantor agrees to pay all of I.ender s expenses if Grantor breaches any covenant in this Security �.�^
<br /> lnstrument Grantor will atso pay on demand any ainount incurred by Lender for insuring,inspecting.preserving or . .��--':�;�:.�,
<br /> ..1 � �� -�-
<br /> . _ . -� othenvise proteding the Property and Lender s security interest.These expenses will bear interest from the ciate of .. : �,_��-
<br /> � �� � � the payraent until paid in tull at the highest interest rate in effect as pravided in tfle terms oi the Secured Debt. ._ ��;�
<br /> Crantor agrees to pay ail cosu and expenses incurred by I.ender in collecqng.enforcing or protecting Lender's rights � � ��°-
<br /> � . `4-'• and remedies under this Security tnstrurnent.This amount may include,but�s not limrted to,attomcys feet,court '�= :
<br /> . . costs.and otUer legai expenses.This Security Instrument shall remain in effect until released.Grantor agrees to pay '• .�?�—'�?
<br /> - , for any recordation cosu of such reIease.
<br /> • 17. �NV(RONMEPiTAL LAN'S AND HAZAtiDOUS SOBSTANCES.As used in this section,(1)Environmental Law '�`�,�-_
<br /> means,without limitation,the Comprehensive Environmental Response.Compensatian and Liab�ity Act(CERCLA. .` �'•''�'•�Y�-
<br />_ �• . ''° �` 42 U.S.C. 9601 et seq.),and a31 other federal.state and local laws,regulations,ordinances.court orders,attorney � �.���
<br /> . .. general opinions or intcrpretive lctters concerning the public hea3th,safety,welfare,environment or a hazardous • __�
<br /> ' `� `'' substance:and(2)Hazardous Substance means any toxic,radioactive or hazardous material,waste,pollutant or � `�3•
<br /> ' � ' � contaminant which has charactcristics which render the substance dangerous or potenUaUy dangerous to the public :••.�.��
<br /> ', health,safety,welfare or environment.The term includes,withaut limitation,any subsu►nces defined as"ha2ardous ..,r_�.
<br /> � material:"'toxic substances.""hazardous waste"or°hazardous substancc"under any Environmental Law. �';p�
<br /> .. .�_
<br /> .5 . Grantor represents,warrants and agrees that: _
<br /> A. Except as previousty disctosed and acknowledged in�vriting to Lender.no Hazardaus Substance is or will be __
<br /> ` � located,stored or released on or in the Propeny.This restriction does not apply to small quantities of _ _—
<br /> � � . ` Nazardous Substances that are generally recagnized to be appropriate for the normal use and maintenance of � —
<br /> . .. �:.
<br /> � ' , the Property. � .--
<br /> -,__- =---_- - B. Except as previously disclosed and acknowledged in writing to L,ender,Grantor and every tenant have been.are, :.�.,'..�:r.�
<br /> � � � ' ' -`'�•� and shal!remain in fuU wmpliance with any applicable Environmcntal Law. . .= _
<br /> � • ' C. Grantor shall immediately notify Lendcr if a releasc or thrcatened release of a Hazardous Substance oavrs on. • � •
<br /> � , ' under or about the Property or there is a violation of any Environmental Law conceming the Property.In such . :
<br /> � � an even�Grantor shall takc all necessary remedial action�n accordance with any Environmental Law. . ..
<br /> ,. D. Grantor shall immediately notify L.cnder in writing as soan as Grantor has reason to believe there is any , � .
<br /> � ' pending or threatcned inve+tigation,claim,or praceeding rclating to thc rclease or threatcned release of any • , .
<br /> • " Hazardous Substancc ar thc violation af any Enwranrttental Law. .
<br /> • 18. CONDEMNA770N.Grantor will give Lender prompt noticc of any pending or thrcatcned action,by private or : ��
<br /> � public cntitics to purchase or takc any or all of the Property through condemnation,cmincnt dombin,or any other • . - .
<br /> mcans. Grantor authorirss l.cndcr to intervene in Grantor s namc in any of the above described actions or claims. .
<br /> � , Grantor assigns ta l.ender the procceds oi any award or claim for damages connccted with a condemnation or olher
<br /> taking of all or any part of thc Property.Such procccds shal!hc considcrcJ payments and will bc applicd as providcd in
<br /> , - � . :his Seeurity lnstrument.This as.cignment of praceeds is sub}ect tn ihe terms of any prior mortgage,deed of trust,
<br /> . security agreement or other lien document. • .
<br /> ' 19 1NSURANCE.Gr�ntor shall kccp Property insurcd aguinst lo�.s by firc,fluod.thcit and othcr haxatds and risks •
<br /> ' � reasonably associatcd with the Property due to its type and location.'This;nsurancc shall be maintained in the amounts . � ::
<br /> .<' and for the periuds that L.ender requires. The insurance canier providing the insurancc shall he chasen by Grantnr . • . �,
<br /> ' . . suhject to Lender s approval,which shall not be unreasnnahly withhcld. 1(Grantor faits to maintain the covcrage , .. .
<br /> � ' � descrihed ahove.lander may,at l.a:nder's optian,obtain coverage tc�prntect l.e:nder s rights in the Property according .
<br /> � � to the tcrms of this Sccurity Insttumcnt. . •
<br /> • All insurance policies and rencwals shall be acc��ptable to l.�:nder and sfiall include a standard"mortgage clauyc"and. � •
<br /> ' � . whcre applicablc."Icns payee clau�c."Crantor shall immediatcly notily i�;nder of canccllatiem ar termination of the � :
<br /> insurancc.t.cndcr shall havc thc right to huld th�policics and renewals.lf l.cndcr rcyuires,Grantor shall immcdiatcty .
<br /> • • . give to l.cndcr�dl rrceipts e►f paid premiums anJ rrnewal notices.t Jpon lu�.s.(;rantor shall give immcdiatr naticc to . .
<br /> thc imurance carricr and I,ender.l.rnder may makc prnof af lo�.c if not madc immediately hy(irantor_ .
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