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<br /> , � ��_� obli attd on the�crured Debt fails to make paYmeai whea due.Truscor . _ `
<br /> � � 24. nEFAUi..T.Tn�stor�vitl he ia default if anY Paz►Y S y �. .
<br /> . will be in default if a b�h o urs underg the Secutel DebtA gaad�t ef byBene�fic�arY thac��f��y '. V
<br /> ; , � P�TF�flf creaan�,s�8 � ,
<br /> ����ure w�th respect to any pecson or cnti�obuga�e�oa the S�ured D�t or thu t�e prospecc of any pay��T "� i`~ "" `�•
<br /> the value of the Pmperty ts impaired shalt also constttute an evenc of defanI[.
<br />� ' ' �� � 15. RE1VfEDIES ON DEFA�o o�ther no instanc�.�e���b�dme e sWC6��for�losw�e acdons. S ti�tor�ihese � f � ..
<br /> - - � ° � n o r i c e o f t h e n g t►t I n s[r u m ent in a Enaaacr . . -
<br />., • i limitadoAS. if any. Beueficiary u�aY acce lerace t he S e c u r e d D e b t a n d f o r e c i o s e t h i s S e a tt i t y
<br /> n
<br /> - -^ _ � provided by law if Trustor is in defanit. -
<br /> < i �'�� At the option of Beneficiary all or aay�San of the agreca fees and chW ges,oac�u o�e.�nce�of a default�ot Deb� .. y
<br /> immediazely due and payable,,after g�vuig notice if ryuired UY , P. � o"..
<br /> - � � � thereafter.In add�tion,Benefisiary shall be entitled co udin witho�ut11imp�itation�the p�a er toe seil�the Prope� .. ,-. _
<br /> � , :� this Secnrity Instrument and a�l related documents��ncl g --- . _ `
<br />_7. f
<br /> ° � If there is a default,Trustee shall,ia addition to auy other permitted remedY,at there�cesc af the BeaeSciary,advertise
<br /> and seU ihe property as a wholc or in separatc parcels at public auction to ihe higLest bidder for cash and convey absotute
<br /> he h
<br /> � ' atte free and cleas af ali nght,dtie amd�nteresc of Trustor at such ame and Po��oNe�to be�so d as�necluired by�the � � :
<br /> ��` � ; • • ',� appl�'�, ble l�aw i�n effect$tu ihe�me ot�p opos�s��al�e and a descrip' P P rtY " __
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<br /> � Upon sale of the property and to the e�ttent not prohibited by law,Tnutee sha11 make and delri'er a d�d to the Prapercy �;::`�;;'
<br /> �' : , sold which conveys absolute dde to the pnrcbaser, aad afcer fusc payu►g all fees, charges and costs. sbaU �ay to •��. = ,: >��,
<br /> �` �:.� BeneHciary all moneys advanced for repairs. raxes, uuurance. liens, assessments and pr.or encumbrances and snteresc .� �.' :�
<br /> �h . �hereon, and the principal and interest an the 5ecured Deb[, Paying the svrplus.,i.f anY, to Tmstor. Beneficiary,maY -
<br /> ;.� " ' punhase the Fcoperty.The recirals in at►Y deed af conveyance sha11 be prima facie evideace of ihe facts set forth therein- _ � _
<br />.t' . • ' —
<br />=f=. � AU remedies are distinct,c u Y n u l a t ivc a n d n o t c x c l u s i v e,a n d t 1�e B e n e fi c iary i s e n d t l e d co a11 remrdi�pa����°e ,�.:`�.
<br />`, ec;uity,whether or uot expressly set forth.'t'h;.zcxeptancc by Bencficiary o f arry sum in paymenifiledpshall nat consritute a :.:__. - .�;_
<br /> �:� • - Secured Debt af�er the balance is due or is accclerated or after foreclosure proceedinf,s , 6.__
<br /> },- . �-�, waiver of Beneficiary's right w require complete cure of any eaistino default� By not exercising any remedY on T:us[or's 3
<br /> �-. . .
<br /> default,Beneficiary daes not waive Benefictary's dght to later conscder the event a default if it coutinues or happens again. �'���
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<br /> }-, 16.EXPEN9FS• ADVANCES ON COVENAN7['S: ATTORNEYS' FF�FS: COLI.ECi'iQN COSTS. Except when .- _ --_
<br /> . - protdbited�yy� law,Tsustor agcees to pay all of Beneficiary's expenses if Tn�swr brraches aay cov�tg �e�y .. _.
<br /> Insuument�i'n�stor will alsa pay on deu�and any auiounc maured by�Beneficiary for Insuring, insP , p g �
<br /> . pro and Beneficiary s security interesc•These expeases wUl bear interest from tiQe oi a f the :Y:_.��.
<br />';'i . � otherwise grote,cdnp the pecry. .
<br /> .�. . • �; Paymeat unql paid in full at ihe highest interest rate in effect as provided in the terms of the Secured Debt.Trus � , •�,�,�
<br /> , t� pay all costs and eapenses incurred by Beaefciary in coltecting, enforcipg_or protecting Beneficiary'"s dgbts and , .�..•.: •},.
<br /> �''`� •, remedies under this Securicy��►t.'This amount may include,but is not limtted to,attomeys'fees.couct costts, and .,. .--�.a
<br /> � • � other legal expenses. This Secw'in Instrument shall remain in effect until released. Trustor agrees to pay lOI aA�I . '�.,-.jy�{�_
<br /> recordauon cosu of such release. �'�
<br /> � 17. ENVIItONMLNTAL LAVi19 AND HAZALtDUUS SUBSTANCES. As used in this secuon, (1) Envlronmental Law ` �
<br /> ? ��ms, without limitation, tbe Comprehensive Eavironmental ResPonse, Compensacion and Liabiiin+Aa tC�C�42
<br /> ';'.TM:
<br /> . �-,-Y U.S.C. 9601 et seq.), and aU other federal.stacc aad locai laws. regulations, ordinances. court ordeis,attamey general :, 1_. ,
<br /> .. .` opinions or incerpretive letteta coaceming elie public healtl�,safery.welfare,e��vironment or a ha7ardous substauce;ancl(Z) , . :;_
<br /> � , . Hazardous Substaacc means any coxic. radioacdvc or baza�'dous material, wastc, pollutam or contaminant which has �:S.:;'-:;�
<br /> � cl�aracteristics whie6 render the substaace dangerous or patentially clangerous to the public heal�h. 9afehr,weltare or ' „_ �`�,_-
<br /> environment. The tecm includes.without limitation,any suSstances defined as'hazardous material+� "roxic suhstanc�es," , ,.,_
<br /> m
<br /> ' "liazardous waste"or"ha7ardous substance"under any Environmental La�v. � . -_
<br /> •� Tnutor represents.warrants aad agrees that: .
<br /> � A.Eacept as prevIowly disclosed and a:knocvledged ,'ijn�iwrit���d��ap ply to smaU Syuant n°es f Haretdons ' . ��
<br /> • � ' located, stored or released on or in che Property •c•• :
<br /> Substaaces thac sue ge n c r a lly recogni r x A to be ap r o p ri a t e f o r t h e a o r m a l u s e a n d m a i n t e n an c e o f t h e Pso pe r[y. .
<br /> ' , 8.E a c ep i a s p r e viousl y d'uclosed and acknowledg�in writing[o Beneficiary,Trustor and every tenant have been.are, ___--_--
<br /> ' � and shall remain in full compliance with any applicable Environmen w i Law. .
<br /> • C.Trustor shall immediately notify Beneficiary �f a zelease or thrcatened release of a Hazardous Subst�ance��� .
<br /> � � undar or aboui the Propeny or there is a violadon of any Envir�nmeatal La�v coaceming the Pro rty.
<br /> � event.Trustor shall take all necessary remedial action in accord:mce with aay Envlrohmental Law. ndin
<br /> D.Trustor shall immediatcly notify Beneficiary in writing as soon as Tnutor has re�son to believe there is any pe g . .
<br /> =.;;��•� � or ihreatencd investigauon, claim, or proceeding telating to the rcleasc or threatened release of any I�a�ardous ,
<br /> . Substance or the violadoa of any Envimnmental Law. .
<br /> .�. ' �' 18. CONDEMNATIO!V.Tn�storwill give Beneticiary prompt notice�of any pending or threatened action,by private ot puhlic . �
<br /> entities to purchase or take any or all of the Propeny througit wndemaation.eminent domain,or any other meuts.Tn�stor
<br /> � � ' authorizes Benefioiary to intecvene in Trustor's namc in anY of the ubove descrtbed actions or clauns.Trustor assi�ns to . .
<br /> Beneficiary the proceeQs of any awatd or claim for damages connected�vith 1 condernnation or osher taking of ali or any .
<br /> � part of the Property. Such proceeds shall bc considered paymrnts :uid will be applie� as provided in this Security •
<br /> , . � � I lr�strument.This ass�gnment of proceeds is subject to the tern�s af uny prior mongagc,deed of trust.security agreement or
<br />• ; . � 1 o�her 14en document. • .
<br /> ' i 19. 1IVSURANC,E.Trustor shall keep Propcny insured ag�inst loss by frc, flood,thcft and other hazards and risks reasanably
<br /> � � associated with the i'roperty due to its rype and locanon. 7'his in�ura�ic:c:saall be maintai�led in ihe amounts a=sd for the , .
<br /> � � . , p�riods that Beneficiary reguires. The insucance carrier pruviding the insvrance sl�ail be chosen by Ttusror subject to . .
<br /> Boneficlary's approval, whuh shall not be unreasonably withheld. If Trust�r fuils to maintain the coverage described
<br /> � above.Benefic�aty may,at Beneficiary's option,obtain coverage to protect Beneficiary's righu in the Propeay aaording
<br /> ta the tenns of tb�s Secunty Instrument.
<br /> � � � � All insurance policies:u�d rene�vals sha11 be:�Cceptablc lo BeneGciary and shall include a stan�azd"mortgage clause" and,
<br /> ' � � �vhere applicable. "loss payee clause."Trustor shall;nunediatcly �iotify Beneficiary of cancellation or terminaaion of the .
<br /> ' insurance. Benefic�ary shall have the rigUt*to f��aidhcren iwlns and renewalgn tf ces.n UponYlo squTrustornshall g v�e �
<br /> i m m e d i a t e l y g i v e t o B e n e fi c i a ry•a l l r e c e►p.s o p p
<br /> � . � immediate nouce to the insurance carrier and Bene f iciary.Beneticiary may make proo f o f loss�f no t m a d e l m m e d i a t e l y b y . .
<br /> � Tcustor.
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