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<br /> �. , 9�.� ������ �;" .'� �� . �:�,�
<br /> � executed for the purpose of creating,securing or guarantying the Secured Debt_ A good faith belief by Lender that � ,� _
<br /> Lender at any time is insecure with respect to any person ar entity obligated on the Secured Debt ur that the prospect • . . � �.�
<br /> of any payment or the value of the Property is impaired shall also constitute an�r•ent of default. . • � 'f_
<br /> 15. REMEDIES O1vI DEFAUI.T.[n some instances,federal and state law will requirr L.ender to provide Grantor with ' '�•`
<br /> notice of the right to cure ar other notices and mav establish time schedules for forrcla,ure actions. Subject to thesr � _., ,
<br /> limitations, if any. Lender may accelerate the Secured Deht and foreclose this S�curity Instrument in a manncr . ,
<br /> � provided by law if Grantor is in d�fault. `
<br />� At the option of Lender,ail or any part of the agreed fees and charges.�ccrued intrrest and principal shall becomc � , . �S� � , ,
<br /> ' immediately due and payable. after giving notice if required by law,upun the uccurrence of a default or anytime _ �.,
<br /> .. thereafter. In addition,Lender shall be entitled to all the remedies provided b}•law,thr terms of the Secured Debt. ` � � - -
<br /> - - this Seturity lnstrurnent and any related docvmenu,including without limitation.the power to sell the Property. _- - _ _ -_
<br /> (f there is a default.Trustee shall,in addition to any other permitted remedy,at the request uf the Lender,advertise � ��`" � °
<br /> and sell the Property as a whole or in separate parcels at public auction ta the high��st hidder fur cash and con��ey
<br /> � a6solute title free and clear of all right,title and interest of Grantar at such time and place as Trustee designates. � - . -
<br /> � '' Trustee shall�ve notice of sale including the time,terms and place of sale and a dc:scription of the property to be satd � ':�,.,_,. :,-•_�-�� ��
<br />" as required by the applicable law in effect at the time of the proposed sale. �.`.' � � � '
<br /> ti�
<br /> Upon sale uf the property and to the extent not prohibited by law.Trustee shall make and deliver a deed to the Property . . . , . .�_Y -
<br /> • sold which conveys absolute dtle to the purchaser,and after 6rst paying all fees,charges and costs,shall pay to l.ender all '.
<br /> moneys advanced for repairs,taxes,insurance,liens,assessments and prior encumbrances and interest thereon,and the ; l� -
<br /> principal and interest on the Secured Debt,paying the surplus,if any,to Grantor. Lender may purchase the PropeRy. . -��v � .-�
<br /> The recitaLs in any deed of conveyance shall be prima facie evidence of ihe facts set forth therein. � ''' ��-�-'--�-`-
<br /> y y�r.:...;.:.,_
<br /> �
<br /> fill remedies are distinct.cumulative and not exclusive.and the Lender is entitled to all remedies provided at law or . i , ��gY'_"_
<br /> � equity,whether or not expressly set forth.The acceptance by Lender of any sum in payment ar partial payment on the
<br /> � " Secured Debt after the balanee is due or is accelerated or after foreclosure proceedings are filed shall not constitute a ', .,W �.�c.,,�.:;
<br /> waiver of Lender's right to require complete cure of any existing default.By nat exercising any remedy on Grantor's - • . °_
<br /> default,Lender does not waive Lender s right to later consider the event a default if it continues or happens again. _ - '�j
<br /> . 16. EXPENSES; ADVANCES ON COi�ENANTB; ATI'ORNEY�' EEES; COLLECTION COSTS.Except when `"�" "
<br />, ° prohibited by law,Grantor agrees to pay all of Lender's expenses if Grantor breaches any covenant in this Security �
<br /> � [nstrumenG Grantor will also pay on demand any amount incurred by Lender for insuring,inspecting,preserving vr �
<br /> otherwise protecting the Property and Lender's security interest.'These expenses��ill bear interest from the date of ,;�:��
<br /> the payment until paid in full at the highest interest rate in effect as pmvidcd in the terms of the Secured Debt. ��� � �} ` �_:_
<br /> Grantor agrees to pay all costs and expenses incurred by Lender in collecting,enforcing or protecting Lender's rights :�`���` �
<br /> ' . and remedies under this Security Instrument.This amount may include,but is not limited to, attomeys' fees,court ' -
<br />' • cosu,and other legal expenses.This Security Instrument shall remain in effect until released Grantor agrees to pay r r ��' � .
<br /> ,•: ., ,
<br /> for any recordation costs of such release. � ' :, �.
<br /> 17. ENVIROMb'[�NTAL LAWS AND H.�.�ItDOUS SIJRSTANCES.As used in this section.(1)Environmental Law • '�i � �
<br /> �� means,without limitation,the Cornpreher�sive Environmental Response,Compensation and Liability Act(CERCI.A, ''
<br />, 42 U.S.C. 9601 et seq.),and all other federal,state and local laws,regulations, ordinaa�ces,court orders,attorney 4�� ac
<br /> general opinions or interpretive letters concerning the public health,safety,welfare,environmeat or a hazardous ;'�
<br />' substance;and (2) Hazardous Substance means any toxic,radioactive or hazardous material,waste,pollutant or ,�� �
<br /> " contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public
<br /> health,safety,welfare or envir�nment.The term includes,without limitation,any substances defined as"hazardous .,; =." �,.�,�..;._
<br /> material.""toxic substances,""hazardaus waste"or"hazardaus substance"under any Environmental Law. .~�•* �-,-•'-'�:"
<br /> � Grantor represents,warranu and agrees that: � L��I � �•
<br />. .:�1l���e��
<br />• A. Except as previously disclosed and acknowledged in writing to Lender,no Hazardous Substance is or will be _ .••-�.��-�--
<br /> � located,stored or released on or in the Property.This restriction does not apply to small quantities of ��
<br />,, Hazardaus Substances that are generally recognized to be appropriate for the normal use and maintenance of . f'
<br /> , the Property. � `�
<br /> �,-- ..
<br /> . B. Except as previously disclosed and acknowledged in writing to Lcnder,Grantor and every tenant have been,are, �
<br /> ��..�,,,���..._..,,-
<br /> and shall remain in full compliance with any applir.able Environmental Law. • ..:_-.s,-'
<br /> ' C. Grantor shall immediately notify Lender if a release or threatened release of a Hazardaus 5ubstance occurs on, — . -
<br />,� �•-:,• under or about the Property or there is a violation af any Environmental Law wncerning the Property.In such �. �;+,,��i,c�.
<br /> : "•F an event,Grantor shall take all nee.ssary remedial action in accorclance with any Environmental Law. •�
<br /> . D. Grantor shall immediately notify Lender in writing as soon as Grantor has reason to believe there is any ., �.� a
<br /> • pending or threaterted investigaiion,claim,or proceeding relating to the release or threatened telease of any '' � ��„�r.,.
<br /> � Hazardous Substance or the violation of any Environmental Law. "';��'���`�.:
<br /> . 'Y��'����"
<br /> • IS. CONDEMN,��'(ON.Grantor will give Lender prompt notice of any pending or threatened action,by private or -,�R%=u=x�*;�•� .
<br /> ublic entities to urchase or take an or all of the Pra crt throu condemnation,cminent domain,or an other '�k°-�"
<br /> � P P Y P Y P� Y -�}��i�•�. -
<br /> means.Grantor authorizes Lender lo intervene in Grantoi s name in any of the above described actions or claims.
<br /> �i� " .:
<br /> � Grantor assigns to Lender tlie proceeds of any award or claim for damages connected with a condemnation or other -..•� ,-
<br /> taking of all or any part of the Property.Such proceeds shall be wnsidered payments and will hc applied as provided in , :x.•�r���
<br /> this Security Instrument.This assignment of proceeds is subject to the terms af any prior mortgage,deed of trust, .� '
<br /> security agreement or other lien document. � • •�?����
<br /> � 19 INSURANCE.Grantor shall kecp Property irtsured against loss by firc, flood, theft and other hazards and risks ""�'''J`'r"�`'''"�' _.
<br /> reasonably assaciatcd with thc Property duc to its typc and lucation.This insurancc:shall bc maintaincd in thc amuants .
<br /> � � and for the periods that l.ender requires. The insuranee carrier providing the insurance shall be chosen by Grantor "'":-' "` �
<br />� �� subject to Lender's approval,which shall not he unreasonably withheld. lf Grantor fails to maintain the caverage ' . ' _
<br /> descrihed above,I.ender may,at Lender's nption,oMain coverage to protect Lender's rights in the Praperty according � .
<br /> � to the terms of this Security Instrument. , . _
<br /> All insurance p�licies and renewals xhall hr accrptable tu IAnder and shall includr a standard"murigage clause"and, �
<br /> where applicabte."loss payee claux.°Gramor shali immrdiatrly rtotify I.rndcr uf cancrllatiun ur tcrmination o(the • � • • •
<br /> � insurance.l.ender shall have the right tu hold thr policirs and renewals. If I.e�ndcr rryuires,Grantor shall immediatety � ., - V
<br /> give to l.ender all receipts uf paid premiums amd renrµ•al n��l�crs Upon la,�.Cr�mar�haQ givr immediate notice tc�
<br /> the insuranc�:carricr and iw�nder.lxnder may makc prouf uf I��ss if n��t maJc immcdiatcly hy Grantor. •
<br /> f � (page 3 of 4) , ' _
<br />. , � �fBSf B�r.ecrs Sys�ems�rc S�CIpuA GN It.gpo-397 73f t�Fonn RE OT NE 669e f - -- -
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