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<br /> T. . .
<br /> � 9`7� ��i89g . � .`� ; . � ;-.
<br /> �, ,�.:
<br /> executed for the purp�se uf crc;aEing.x:curing or Suara�►�Y�ng the Srcured Debt.A go�ui faith hcliri h}• Lc�drr that ;�;�
<br /> I.ender at any ume is insecure wich respect to any person or cntity ubligated an th�SecurLd Dcbt�ir that thr prospect x�
<br /> of any payment ur the value of the Property is impaired shaU also rnnstitute an eccnt uf dcfault. �. .- ,�, .
<br /> �_ ��Ep�ES O;oI pE�CAUL'i'.In some instances.federal and state law will rcyuire lxndrr tu p�u�•ide Cirantur with _
<br /> notice of the right to cure or other notices and may cstabiish time schedulr�for forcrlu.un actium. Suhjrct to thesr
<br /> limitations,if any. Lender may aceelerate the Secured Debt and foreclusc thi.Security Instrumrnt in a manncr � 5
<br /> . provided by law if Gran4or is in default. ' '
<br />:i At the option of Lender,ap or any part of the agrecd fees and charge�.accrucd intrrest and princ.-ipal shall bccome .
<br /> immediatcly due and payable,after giving noticc if reyuir�d by law,upun the occurrence uf a drfault or anytime <: L
<br /> thereafter.ln addition.Lender shall be entitled to all the remedies providcd by la�v.thc terms of the Securcd Dcbt, ______ _ _ ___ __. __�
<br />� , this Security lnstreiment and any retated documeau,including without limitation,the puwer to sell the Propeny. .. `
<br /> ' If there is a default.Tr�stee shaU.in addition to any other permitted remedy,at the request Qf the Lender,advcrtise
<br /> and sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash and convey ; _...._;�. • .
<br /> absolute tiUe free and clear af all rigt►t.title and mterest of Granior at such time and place as Trustee designates. _ __ •
<br /> Trus[�e shall givc nuticr uf,ale including thr time:.tcrm��nd placc uf s:�lc anS a��,cripti�,n ui th.:prup�rt� tu hr.��lJ , :�,`}.,��� _ -
<br /> as rcquired by the applirable law in effect at the time of the proposed sale. �.- - •.`�!
<br /> Upan sale of the property and to the extent not prohibited by law.Trustee shall make and dcliver a deed to the Prupeny �l��
<br /> sold which conveys absolute title to the purchaser.and after first paying all fees.charges and casu.shall pay to Lender all
<br /> �,:.;. __,�,
<br /> . � moneys advanced for repairs.taxes.insurancc�,liens,assessments and prior encumbrances and interest therec�n.and the , �� _
<br /> principal and interest on 1he Secured Debt,paying the surplus.if any.to Grantor.Lender may purchase the Property. ' �°... .
<br /> • T?_e recitals in any deed of mnveyance shaU be prima facie evidence of the facts set forth therein_ �;�.1� `
<br /> A:?re=etlies are distinct,cucn�lative and not exclusive,and the Lender is entitled to aU remedies provided at law or .. •, �_ _
<br /> � e '�.�yhether or not express:}�set fo.rth.The acceptance by L,ender of any sum in payment or partial payment on the �:•.�, �.'." �
<br /> q..,. "�It•.��:-..
<br /> Secured DeM��r the balaace is due or is accelerated or after foreclosure proceedings are filed shall nat constitute a
<br /> ;�';; a•aiver of I.enLer's right to require comple*.�cure of any existing default.By not exercismg any remedy on Grantor's _ ' "�'� �"v�, :-
<br /> �E-�-_-
<br /> default,Lender does not wai�•e Lender's ri�':t w later consid�r the e�rr.t a default if it continues or happens again. �-;:���,,,_�.
<br /> 16. EXPENSES:ADVANCES ON COVENANTS;A'Q'Ti�RNEYS' FEES;CO�.�.ECTION COSTS.Except when :���,�'y„
<br /> prohibited by taw,Grantor agrees to pay aU of L.ender's expenses if Grantor hreaches any covenant in this Security . . ,�.�� ..
<br /> . •- Instniment.Grantor will also pay on demand any amount incurred by Lender for insuring,inspecting,preserving or , r:",�. :,
<br /> ' otherwise protecting the Property and Lender's security interest.These e�cpenses will bear interest from thc date of __ � •'..R _ •
<br /> " the payment until paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt.
<br /> Grantor agrees to pay all costs and expenses incurred by Lender in collecting,enforcing or protecting Lende*s rights .'�3� ';.!�=',�.
<br /> and remedies under this Security Instrument.This amount may include.but is not limited ta,attorneys' fe�s.court : �' �
<br /> = costs,and other legal expenses.This Sectarity Instrument shall remain in effect until released.Grantor agreES to pay ��
<br /> - for any recordation costs of such release. - �� �-�
<br /> 17. ENYI�tONMENTAL LAWS AND�IAZARDOUS SUBSTANCES.As used in this section.(1)Environmental Law �
<br /> .. p��.'�...
<br /> �• mrans,without limitatian,the Comprehensive Environmental Response,Compensation and Liability Act(CERCLA, i . �t :.
<br /> �'_ U.S.C.9601 et seq.), and all other federal,state and local laws,regulations.ordinances,court orders.attorney �. .,
<br /> �-_ general opinions or interpretive letters concerning[he public health.safety,welfare, environment or a hazardous _ r� }K�� . .
<br /> substance:and (2) Hazardous Substance means any toxic,radioactive or hazardous material.waste, pollutant or �: ; ,;.i.,; _`
<br /> ,_.,�,,,.. ,�„T
<br /> contaminant which has characteristics which render the substance dangerous or potentially dangerous to the pubGc :,�,;,_
<br /> health,safety.welfare or environment.7"he term includes,withuut limitation,any substances defined as"ha7ardous _ �.�--
<br /> ' �aterial.""toaic substances:'"ha•rardous waste"or"hazardous substance"under any EnvironmenWl Law. V i ,' ,�.;�
<br /> Grantor represents,warra�ts and agrees that: �`�' '-�
<br /> ' � A. Except as previously disclosed and acknowledged in writing to Lender,no Hazardous Substance is or will be —
<br /> � �, '
<br /> located.stored or released on or in the Property.This restriction does not apply to small quantities of . f._ ..�(���r
<br /> � Hazardous Substances that are generally recognized to be appropriate for the normal usz and maintenance of
<br /> �.
<br /> � � theProperty. ��.�,' -�
<br /> .��. B. Except as previously disclosed and acknowledged in writing to Le:nder,Grantor and every tenant have been,are, � _
<br /> and shall remain in full compliance with any applicable Environmental Law. �;`'y
<br /> • C. Grantor shall immcdiately notify Lender if a release or threatcned release af a Hazardous Substance occurs on. �_.°`;���
<br /> ' under or about the Property or there is a violation of any Environmental Law conceming the Property.In such �---r_ __
<br /> an event.Grantor sl�aU take all necessary remedial action in accnrdance with any Environmental La�v.
<br /> • D. Grantar shall immzdiatcly notify Lcnder in writing as soon as Grantor has reason to believe there is any "���� `-
<br /> _ ,�.���-
<br /> � . pending or threatened investigation,claim,or proceeding relating to the release or threatened retease of any `._��;i �.�^ :•
<br />� � Hazardous Substance or the violation of any Environmental Law. 4:-,s•.w,��- .
<br /> 18. CONDEMNA770N.Grantor will give Lender prampt notice of any pending or threatened action, by private or �t^�_
<br /> � public emities to purchase or take any or all of the Property through condemnation,eminent domain,or any other ��_�.,�,;�,. _
<br /> mcans.Grantor authorizcs Lender to intervenc in Grantor's name�n any of the above described actions or claims. .�,„��..^_;�,.�
<br /> Grantor assignti to La:ndcr thc proccrd.of any award ur claim for damagct cnnncctcJ with n condcmnation or c�ihcr t-�,����
<br /> • taking ot all or any part of the Propcny Sach proa:cds shall bc considcrcd paymcats and wdl hc applicd as providcd in -=�.'���_,._
<br /> this Security Instrument.7'his �ssignmcnt of pmcecds is suhject to the tcrms of any prior morlgagc. dccd of trust. --- _ ._.
<br /> .r•ecurily agreement or other lien docament. .
<br />• ]9. INSURANCE.Grantor shall kecp Property insured against loss by (ire,flood, thcft and other ha�ards and risks . . __�__
<br /> • reasonably associated with the Property due to its type and location.This�nsurancr shall be maintained in thc amounts :
<br /> and for the periods that Lesnder requires.The insuranee carricr providing the insurancc shall he chosen by C;rantor
<br />'.. � subjcct ta Lcndcr's approval, which shall not be unrcasonably withhcld. If Grantor fails t��maintain lhc covcragc ■
<br /> � described above.lAnder may.at l.ender's option,oblain a�verage to protect IAnder's rights in thc Property according
<br /> � to the terms of this Sccurity Instrument. „ '
<br /> • All insurance polic�es and renewals shaU he acteptable to l.ender and shall include a standard"mongage clause and. • • �
<br /> where applic�hle."lass payee clause."Grantor shall immcdiately nutify l.ender of c:�neellation c�r termination c�f the
<br /> • insurance.l.ender shall havc ihe right to hold thc policies and rencwals.If Lrnder rcyuires,Grantor shall immcdiatcly _
<br /> give to Lender all receipts of paid premiums and renew�l nc�tices.lJpon lut�.Gtantar shall give immediate nuticr to
<br /> the insurance carrier and I,ender.L�:nder may make proof of I���s i(not made immediately by(;rantur. �
<br /> (page 3 0l 4)
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