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<br /> . . F G. ..��Y�(�%`•� •• a or ran g tlie Secured Deb�A goocf faith belief by Lender that �:,,°'
<br /> � exectned for tSie purpose of cxeating,securin8 S� �' .. :
<br /> ' � • ' ; � Lendsr at any time is insecure w►th resPect to any peison or enuty ubligated on the Secured Debt or that the prospect - •� � � :.
<br /> ' ' .. of any payment or tlie value of the Property is ueipa�red shaU also constitnte an event of defaul� , y . .
<br /> �_.
<br /> ' ' L�. REMEDIE�ON DEFA�JLT.1n some instances.federal and state 1aw witZ re9uire �.ender to provide Grantor with ,��...y„. � ,. .
<br /> ' ' � �_� `' notice of the right to cure ar other notices and may establi�h ume schedules for foreclaSUre actions-Subjett to these ' ,, ,i '
<br /> � • ; `=�<• . .,_:::_' u��o�,��y, �nder may accelerate the Secared Debt and foredose this Security Instrument in a manner ,;�,�
<br /> ,#, ' : ��' ' provided by law if Grantor u in defauit. `�`::,-�� "�=�
<br /> � � �.:.-�-;`.� At the option of Lender,a11 or any part of the agreed fees and charges,accrued interesi and principal sha11 become `'� `
<br /> �`= `�'•=-�""'-�� immediately due and payable.after giving nofice if required by law. upon the occurrence of a default or anytime ;r;4 ' . �� ".�
<br /> '-- -�==t-' thereafter.in addition.Lender shall be ent'stled to all the remedies provided by law.the terms of the Secured Debt, ;`. - ` '
<br /> • tl�is Security Instrument and any related documents,including without limitatian.the power to sell the Property •' t
<br /> �••., If there is a defauh.Trustee shall,iu addition to any other permitted remedy,at the request of the Lender,advertise
<br />. �,t � ; '„ � and sell the Property as a whole or in separate parce�s at public auction to the highesc bidder for cash and convey • • x•`
<br /> a b s o l u t e t i t l e fr e e and ctear of ali ri g ht,utte and mtecest°�C�°tor at such time and place as Trustee designates. '"F` ;.
<br /> ' � `• 1-rustee sha11 give notice of sale including the time,terms and pface o f sa le an d a descri p t i o n o f W e p m p e r t y t o be s o l d ..
<br /> as required by the applicable law in effect at the time of the proposed sale. _ -
<br /> ' • � Upon sale of ttce property aad to the extent not pro}u'bited by latiu,Trustee shall matce aad deliver a deeda to Lender a�Il , r �
<br /> ` °; � . - sold which conveys absolute title to the purchaser,and after first paying all fees,charges and casts`shall p y :,���. ,_
<br /> -�`" � ' � ��� �-. moneys advanccd for repairs.taxes.insurance.fiens,assessrnenu and prior encumbrances and interest thereon,and the __�-,
<br /> � °``.•° riuc; aj a,��t interest an the Secured Debt,paying the suiplus,if any,to Grantor.Lender may pmchase the Property. __
<br /> , P N.
<br />� • The recitats in any deed of conveyance shall be prima facie evidence of the facts set forth therein. .¢ ^
<br /> ` ✓ Ail remedies are distinct,cumulative and not exclusive,and the Lender is entitled to all n oedi��aded a�i�a�e . .� ,"� , _�_
<br /> � � - equity,whether or not expressty set forth.'IY�e acceptance by Lender o£any sum in pay�ae p P N� -- • ;,.,� _
<br /> Secured Debt after the balance u due or is aexelerated or after forecloswe proceedings aze filed shall not constitute a r;_!;_
<br /> �_:;._ waiver of Lender's right to require comptete cure of any existing default By not exercising any remedy an Grantor's ' � _�_
<br /> ' � default,Lender does not wan�e[.ender s right to tater consider the event a default if it continues or happens again. r �-- #_�:
<br /> "' 16. EXPENSES;ADVAAiS;ES ON COdENANTS;ATTORNEYS•FEE§;COLLECI'[ON COSTS.Except when ��•,3
<br /> � t'._ . ._1,. .
<br /> • . ,� pro�ibited by law,Grantor agrees to pay all of Lender's expenses if Grantor breaches any covenant in this Securit3+ �':--��=
<br />� ° Instnimen�Grantor will also pay on demand any amount incurred by Lender for insuring,inspecting,preserving or •<Y::;��:`.�:'_r.
<br /> ' othenvise proteding the Property and Lender s security interest.These expenses will bear interest from the date of ,��
<br /> the payment until paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt. `,�•
<br /> f.��,
<br /> . • Grantor agrees to pay all costs and expenses incurred by Lender in collecting,enforcing or protectin�I.ender's ri�hts ,,�a�,•
<br /> � '' and remedies under this Security In4trumeni.This acnount may inciude,but is not limited to,attomeys fees,court ,.,:�e-
<br />� � � �:•�= costs,and other legat expenses.This Security Instrument shall remain in effece until released Grantor agrees to pay ;^-.�•• ,.;:��_
<br /> ' for any recordation wsts of such relea�e. • ' ' v'"`�—
<br /> __
<br /> � '; .,. 17. ENVIRONMEN'SAL LAN+S AND IWZARDOUS SUBSTANCES.As used in thissection.(1)Environmental Law , �
<br /> ' � means.without limitation,the Camprehensive Emironmental Response.Compensation and Liab�ity Act(CERCLA, • �:`•�'::�
<br /> 42 U.S.C.9601 ei seq.),and all other federal,siate and local laws. regulations,ordinances,caurt orders.attomey ��''
<br /> , i.-'_"
<br /> • general opinions or interyretive letters concerning the public heaIth,safery,welfare,environment or a hazardous • �:�
<br /> � � --�-�� substance:and(2)Hazardous Substance means any tox�c,radioactive or hazardous material,waste,pollutant or � _
<br /> wntaminant which has characteristics which render the substance dangerous or potential ly dangerous to the public ,g� _.
<br /> ._. � . . ' � health,safety,welfare or environment.The term includes,without limitation,any substances defined as"hazardous ,,�_
<br /> � ' material.""toxic substances.""haTardous waste"or"ha�ardous substance°under any Environmentat Law. , f��._
<br /> � Grantor represents,warrants and agrees that: • :3-_
<br /> ., , A. Except as previousty disclased and acknowledged in writing to i.ender,no Ha7ardous Substance is or will he —
<br /> �;�, : , � located,stored ar released on or in the Property.This restriction does not apply to small quantities af ' _
<br /> ° � Hazardous Substances that are gencrally rewgnixed to be appropriate for ihe nor[nal tue and maintenance oi v_
<br /> ,.,�_..
<br /> : �� . � ' the Property.
<br /> • ' B. Except as Previously disclosed and acknowledged in writing to Lender,Grantor and every tenant havc been,are, ,�____'
<br /> �� „ and chall remain in fWl compliance with any applieable Environmental Law. -
<br /> �•��` . � C. Grantor shall immediately natity l.ender if a release or threatened relcase of a Hazardous Substance occurs on. • •..;
<br /> � under or about the Property or there is a violation of any Environmental Law concerning the Property.In such ,
<br /> �� " � an cvent.Grantorshall take all neccssary remedial action in accordance with any Environmental La�v. . .
<br /> : �: . . .
<br /> . � . D. Grantor shall immediately notify Lender in writing as soon as Grantar has reason ta believe thtre is any � ..
<br /> . : � pending or threatened in�estigation,claim,or procecding relating to thc rclease or threatened release of any ,
<br /> �, '� � ' Hazardous Substanrc or ihe violation of any Environmental Law.
<br /> ' " 18. CONDEMPtA7'ION.Grantor will givc Lcnder prompt notice of any pending or thrcatened action, by private ar • �
<br /> � •' ' :. public entiticc ta purchase or takc any or all��f the Property thraugh condemnation,cminent domain.or any ather
<br /> ' � ' mcans.Grantor authorius Lendcr ta intcrvenc in Grantar s namc in any oi the abovc described actions or claims.
<br /> � � � Grantor assigns to Lender the proceeds of any award or claim for damages connected with a condemnatian or other • . .
<br /> ' tuking of all or any part of thc Property.Such praceeds shall he c�nsidered payments dn�will be appli�d as provid�d in
<br /> ' ' this Security Instrumcnt.This assignment of procecds is subjcct to thc terms of any prior mortgage, deed oi trust. , . .
<br />. sc;c:uriry agreement or other lien dacument.
<br /> � ' � 19. INSUFtANC�. Grantor shall keep Property insured against lass hy firc.fload,theft and other hazards and risks .
<br /> • . � rcasonably ascociated with the Propeny duc to its iype and location.This�nsurancc shall bc maintaincd in thc amounts
<br /> � � and for the periads that ixnder reyuire�.'The insurance carrier pr�viding the insurance shall he chosen by Grantor
<br /> subjcct to Lender s approval,which s6a11 n<�t bc unrcasonably withhcld. If Grantor faits to maintain thc covcragc
<br /> described above,Lendcr may.at l.cnder's option,ohtain coverage to protcct I.ender s rights in the Praperty a:wrding ..
<br /> . to the icrms of this Sccutity Instrumcnt. .
<br /> � All ins�ranee polici��c and renewais sh:dl he:►ceept�ble tu Le:nder and shall include a standard"murtgage cl;�use"and. .
<br /> f where applirable."loss pay'-e cl�usc."Cir:mtor shall immediately notify Lertder o(canccllation or terminatiun��f thc
<br /> � � insurance.Le:nder shall have ihe right tu huld the�licics anJ nnewals. If Lender reyuires.Crantor shall immediately
<br /> . - � givc to Lendcr all rca;ipts af paid premiums and renewal nntices. lJpnn 1oss.(;rmwr shall give immcdiatc noticr:tu . �
<br /> �•� � � the insurance carricr�nJ l.cndcr.l.cnder may makc proof��f lo�s if nc�t made immcdiatcly by Grmtor. .,
<br /> . � �
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