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�Oi�089�7
<br />If there is a default, Trustee sha11, in addition to any other permitted remedy, at the request of the
<br />Beneficiary, advertise and sell the Property as a whole or in separate parcels at public auction to the highest
<br />bidder for cash and convey absolute title free and clea.r of all right, title and interest of Trustor at such time
<br />and place as Trustee designaxes. Trustee shall give notice of sale including the time, tem�s and place of sale
<br />and a description of the property to be sold as required by the applicable law in effect at the time of the
<br />proposed sale.
<br />Upon sale of the Property and to the extent not prohibited by law, Trustee shall ma.ke and deliver �. deed to
<br />the Property sold which conveys absolute title to the purcha.ser, and after first paying all fees, charges and
<br />costs, sha11 pay to Beneficiary a1l moneys advanced for repairs, taxes, insurance, liens, assessments and prior
<br />encumbrances and interest thereon, and the principal and interest on the Secured Debt, paying the surplus, if
<br />any, to Trustor. Beneficiary ma.y purcha,se the Property. The recitals in any deed of conveyance sha11 be
<br />prima facie evidence of the facts set forth therein.
<br />All remedies are distinct, cumulative and not exclusive, and the Beneficiary is entitled w all remedies
<br />provided at law or equiry, whether or not expressly set forth. The acceptance by Beneficiary of any sum in
<br />payment or partial payment on the Secured Debt after the balance is due or is accelerated or after foreclosure
<br />proceedings are filed shall not constitute a waiver of Beneficiary's right to require complete cure of any
<br />existing default. By not exercising any remedy on Trustor's default, Beneficia.ry does not waive Beneficiary's
<br />right to laxer consider the event a default if it continues or ha.ppens again.
<br />16. ERPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEE5; COLLECTION COSTS. Except
<br />when prohibited by law, Trustor agrees to pay a11 of Beneficiary's expenses if Trustor brea.ches any covena.nt
<br />in this Securiry Instrument. Trustor will also pay on demand any amount incuned by Beneficiary for
<br />insuring, inspecting, preserving or otherwise protecting the Property and Beneficiary's securiry interest.
<br />These expenses will bear interest from the da.te of the payment until paid in full at the highest interest rate in
<br />effect as provided in the terms of the Secured Debt. Trustor agrees to pay a11 costs and expenses incuned by
<br />Beneficiary in collecting, enforcing or protecting Beneficiary's rights and remedies under this Securiry
<br />[nstrument. This amount ma.y include, but is not limited to, attomeys' fees, court costs, and other legal
<br />expenses. This Securiry Instrument sha11 remain in effect until released. Trustor agtees to pay for any
<br />recordation costs of such release.
<br />17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1)
<br />Environmental Law means, without limitazion, the Comprehensive Enviro�ental Response, Compensation
<br />and Liabiliry Act (CERCLA, 42 U.S.C. 9601 et seq.), and a11 other federal, state and local laws, regulaiions,
<br />ordina.nces, court orders, attomey general opinions or interpretive leuers concerning the public health, safery,
<br />welfare, enviromnent or a hazardous substa.nce; and (2) Hazardous Substance means any toxic, radioactive or
<br />haza.rdous material, waste, polluta.nt or contaminant which has characteristics which render the substance
<br />dangerous or potentially dangerous to the public health, safery, welfa.re or enviromnent. The term includes,
<br />without limitation, any substances defined as "haza.rdous material," "toxic substances," "hazardous waste" or
<br />"hazardous substa.nce" under any Enviromnental Law.
<br />Trustor represents, warrants and agrees thai:
<br />A. Except as previously disclosed and acknowledged in writing to Beneficia.ry, no Hazardous Substa.nce is
<br />or will be located, stored or released on or in the Property. This restriction does not apply to sma11
<br />qua.ntities of Hazardous Substances that axe generally recognized to be appropriate for the normal use
<br />and maintenance of the Property.
<br />B. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every tenant
<br />have been, are, and sha11 remain in full compliance with any applicable Enviroamental La.w.
<br />C. Trustor sha.11 immediately notify Beneficiary if a release or threaxened release of a Hazardous Substa.nce
<br />occurs on, under or about the Property or there is a violation of any Enviro�ental La.w concerning the
<br />Property. In such an event, Trustor sha11 take all necessary remedial action in accordance with aay
<br />Enviroumental Law.
<br />D. Trustor sha11 immediately notify Beneficiary in writing a.s soon as Trustor has reason to believe there is
<br />any pending or threatened investigation, claim, or proceeding relating to the release or threatened
<br />release of any Haza.rdous Substance or the violation of any Enviromnental Law.
<br />18. CONDEMNATION. Trustor will give Beneficia.ry prompt notice of a.ny pending or threatened action, by
<br />private or public entities to purchase or take any or all of the Property through condemnaxion, eminent
<br />domain, or any other mea.ns. Trustor authorizes Beneficiary to intervene in Trustor's name in any of the
<br />above described actions or claims. Trustor assigns to Beneficiary the proceeds of .any award or cla.im for
<br />dama.ges connected with a condemnaxion or other taking of a1l or any part of the Property. Such proceeds
<br />shall be considered payments and will be applied as provided in this Securiry Instrument. This assigmnent of
<br />proceeds is subject to the terms of any prior mortgage, deed of trust, securiry agreement or other lien
<br />document.
<br />Security Instrumerrt-Correumer-NE RE-DT-NE 7/1/2011
<br />VMP�BankersSystemsT� VMP-C165(NE1 (1107).00
<br />Wolters Kluwer Financia� Services OO 1994, 2011 Page 4 of 6
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