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<br /> �7� g��'�i� � , . , --
<br /> cxccuted for the purpase of creaUng.seeuring or guarantying the Securcd Debt. A good faith beiief by Lender that ' •• . ,;:�
<br /> � . Lender at any time u ins�cure with respect to any person or entiiy obligated on the Secured DeM��r that the prospect . < �
<br /> , of any payment or the value of the Property is impaired shall alsu constitute an e�•ent vf default. �"
<br /> - 15. REMEDIES ON DEFAULT.In some instances.fedcra! and state law will require Lc:nder to provide Grantor with _.._; � ?_�•
<br /> notice of the right to cure or other noticcs and may establish time schedules for foreclosure actions.Subject to these . , �� .
<br /> ` limitatioos.iC any. Lender may accelerate the Secured DeM and foreclose this Security Instrument in a manner , r . _ __ _
<br />� • provided by law if Grantor is in default. � , • _
<br /> At the option of Lrnder,all or any part of the agrced fees and charges,accrued interest and principal shall become , • , �`_
<br /> immediately due and pa}'ahle.aftcr�iving notice if required by law.upon the occurrence of a default or anytime _ _
<br /> � thcrcafter. !n additian,Lendrr shall he entitled to all the remedies provided by law,thc terms of the Secured Debt, : . - _
<br /> this Security Instrument and an}related documents,including without limitation,the power ta sell the ProFerty. • ,?='
<br /> If there is a default.Trustee shall.in addition to any other permitted remedy,at the request of the L.ender,advertise �. . _=
<br /> aad sel!the Property as a whole or in separate parcels at public auction to the highe.5t bidder for cash and convey � � • : ;;,•'
<br /> � absolute title free and clear of all right, title and interest of Grantor at such time and place as Trustce designates. - ; -���
<br /> � Trustee s6all give notice of sale including the time,terms and place of sale and a description of the property to be sold ,. . , ;_�,
<br /> •" as required by the applicable law in effect at the tune of the proposed sale. . -��-_
<br /> c• Upon sale of the property and to the extent rtot Qmhibited by law.Trustee shall make and deliver a deed to the Property ,- T.I��T-��
<br /> ,� sold which conveys absolute title to the pwchaser.and after first paying all fees,c harges an d costs,shall pay to L.ender all �;,,��� _
<br /> moneys advanced for repairs,taxes.insurancc:,liens,assessments and prior encumbrances and interest thereon,and the ; } _
<br /> principal and interest on the Secured Debt,paying the surplus,if any,to Grantor. Lender may purchase the Property. , .�- "'' -- _
<br /> �.r.� �
<br /> in an deed of conve ance s ha l l b e rima facie evi de n c e o f t h e f a c t s s e t forth t6erein. {��—�
<br /> . The rec►tals y Y P . : ��. .
<br /> All remedies are distinct,cumulative and not exclusive,and the Lender is entitled to all remedies provided at law or •, };., " """`
<br /> equity,whether or not expressly set forih.The acceptance by Lender of any sum in payment or partial payment on the , � � ,=«�.�
<br /> Secured Debt after the balance is due or is acceleTated or after foreclosure proceedings are filed shall not constitute a "�-
<br /> . .�. ,�.`;`—
<br />' waiver of Lender's right to require complete cure of any existing default.By not excrcising any remedy on Grantor's ;____ __ _ �.�.,�.
<br /> '•`, default,Lender does not waive Lender s right to later conSider the event a d.°.fault if it oontinues os happens again. , �
<br /> � 16. CXPENSES; ADdANCES ON COVENANfS; ATTORNEYS' FEES;COLLEC°fION COS7'S. Except when � •.'. - ��
<br /> � prohibited by law.Grantor agrees ta pay all of l.endei s expenses if Grantor breaches any covenant in this Security � "�y� . ;-
<br /> �.;•�' �:
<br /> • Instrusnent.Grantor will also pay on demand any amount incuned by Lender for insuring,inspecting,preserving or M. , ,�t� f. �._,
<br /> - - othenvise protecting 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 higtiest interest rate in eftect as pravided in the terms of the Secuazd Debt. �,��x;' ' . ; ;` � ��'�
<br /> • Grantor agr�:s to pay all costs and expense�.incurred by Lender in collecting.enforcing or protecting Lcnd�r s righu � •
<br /> and remedies under this Security Instrument.This amoum may include,but is not limited to,attnrneys'fe��s.court �;;r:' _��,' ±..,�_
<br /> � costs,and other legal expenses.This Security Instrument shaU remain in effecK until released Grantor agrees to pay �;.1. :
<br /> • for any recordation costs of such release. • .J{` �� � �
<br /> � ' 17. ENVIRONNQENTAL II.AWS AND Ht�ZARDOUS SUBSTANCES.As used in this section.(1)Environmental Law 'k '° '`
<br /> `�r j F • „r,
<br /> means,without limitation,the Comprehensive Environmental Response.Compensation and Liability Act(C E R C L A. '�:,?z ., ;�
<br /> 42 U.S.C.9601 et seq.),and all other federal,state and local laws, regulatioas, ordinances,court ordets,attarney • .;s :
<br /> - general opinions or interprctive letters concerning the public hez�zh,safety.welfare,environment ur a hazardous �,���.s4�_`. _
<br /> substance;and(2) Hazardous Substance means any toxic,radioactive or hazardous material, waste,pollutant or .••�,,;,�.ti,;;-:
<br /> cor.taminam wh��h hac characteristics which render the substance dangerous or potentially dangerous to the public -j=,,
<br /> ,,. • health,safety,welfare or environment.The term includes,without limitation,any substances defined as'hazardous t � ��-.-�_..�.
<br /> ' materia4""toxic substances,""hazardous waste"or"harardous substance"under any Enviroumental Law. � �� ������
<br /> �...�.�
<br /> '' Grantor reprzsenu,warran�s and agrees that: --,--_ _____.__
<br /> .� - A. Except as previously disclosed and acknowledged in writing to l.ender,no Hazardous Substance is or will b.. "�` �r�
<br /> . located,stored or released on or in the Property.This restriction does not apply to smaU quantities of
<br />. Hazardous Substances that are generally rccognized to be appropriate far the norrnal use and maintenance of
<br /> the Property. !--- ' -
<br /> B. Exce t as reviousl disclosed ar.,�acknowled ed in writin to Lender,Grantor and every tenant have been,are, ��
<br /> P P Y g S ��'�-�;—
<br /> artd shall remain in tull compliance with any applicable Emironmental Law.
<br /> • C. Grantor shall imrrc:diately notify Lender if a re:ease or threatened release of a Hazardous Substance occurs on, - _
<br /> undcr or about t�e Property or there is a vio32uon of any Environmental Law concerning the Prop2�/.In such �—�-,�?�
<br /> . ,�� 'onmental Iza. �:�'�=..�
<br /> r shall la
<br /> ke a
<br /> 11 necessa rem.,..+al action in accordance with any Envu _.
<br /> v nt Granto •�-
<br /> n e e rY
<br /> a -
<br /> , D. Granzor shall immediately notify Lcndcr in writing as scx+n as Grantor has rcason to belicve there is any .:,:�:�.•.�..: .. .-�-,;,
<br /> pend:hg or threatened investigation.claim,or proceeding r�:ating to the releasc or threatcned relcasc of any '"`="�•,,.'—
<br /> �� Hazardous Substance ar the violation of any Environmental Law. ' �'%�`'";`�
<br /> _�,k!.�,�.,:-..;.�_..,-i . • —°
<br /> 18. CONDEMNATION.Grantor will give Lender prompt notice of any pending or threatened action,by private or �,;�;y:. •�:
<br /> • pubtic entities to purchase or take any or all of the Property through condemnation,emincnt domain,or any othet ,�,,_;��
<br /> mcans.Grantor authorizes Lcnder to intervene in Grantor's name in any of the above described actions or claims. ;....
<br /> , Grantor assigns to Lender the proceeds of any award or claim for damages connected with a condemnatian or othet ����u:`','''• ,:
<br /> � -u,.. ...�,<<'.,:.�
<br /> taking of�Il or any part of the Property.Such proceeds shall be considered payments and will he applied as providcd in � �N�y` ,�:
<br /> this Security Instrument.This assignment of procecds is subject to the terms of any prior mortgage,derd of trust. •. '� '�'�.,-
<br /> security agreement or other lien docnment. • • � �
<br /> �:
<br /> 19. INSURANCE.Grantor shall keep Praperty insured against locc by fire, tlood.theft and other ha�arJs and risks .
<br />� ' reasonably associated with the Property due to its type and location.Thi��nsurance�chall be maintaineJ in the amounts . .
<br /> � and for the periods that Lender reyuires.The insurance carrier providing the insurance shall he chosen by Grantor � ---
<br /> subjcct to Lt:ndcr's approval,which shall not hc unrcasunably withhcld. lf Grantor fails to maintain thc ccrvcrage . �—
<br /> ' described above.Lender may,at l.ender's option,obtain coverage to prcriect l.i:nder's rights in the Propert}•according �•
<br /> to the terms of this Sccurity lastrument.
<br /> All insurance policies and renewals shall he acceptaMe ti�Ixnder and shall includr a standarJ"morigage clause"and. � �.
<br /> where applicable."loct payce clausc°Ciranlor shall immcdiately n��tify(�:ndrr��(canccllation ur terminatiun of the . i
<br /> insurance.Lender shall have the right to hold the pulicic.-s and renewal..I[Lendcr rryuires,Grantor,hall immcdiatcly � • ---
<br /> • give to L.ender all rceeipts of paid premiums and renewal notices. l lpon lu�.�.(+rsmtor chall give immediatr nutiec lc� � `
<br /> ihe insurance carrier and Lendcr.i.ender may make prouf uf lu�.e if nut maJr immediatcly hy(;rantor. • , r',
<br /> ��.. .
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