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<br /> executed for the purpuse of creating,securing ur guarantying thr Srrurrd I)rht. A guu�1 f�iith helief hy Lender that ' • ' "j
<br /> Lendcr at anq time u inse:curc with respect to any person ur entity oblivatcd un thr Sccured Qrht ur that thr prospect . � � "z_v
<br />,' uf any paymrnt or the value of the Prnprrty is impaired shaU also constitutr an r�•rnt of drfault. • '" '�
<br />. 15. REMEDIES ON DEFAULT.In wme instancc�s.frderal and state law will reyuirr Lcndrr tu pruvide Grantor with � , ' • ' •`�
<br /> notice of the right to cure or other notices and may establi,h time schedules fur furrcl�nurr actiuns. Suhjcct to thcse ' � �
<br /> . limitations,if any. Lender may accclerate the Secured Drbt and furecluse thiti Srcurit}• Intitrumrnt in a manner � , ,�+.
<br /> pro�•ided by law if Grantor is in default. '
<br />- � At the option of Lender,all or any part of the agrred fee,and rharg��,,ea-rucd intcr��t and principal shall hecume : • _ � _ ,� __
<br /> immediatelv due and payable,after giving notice if reyuircd h}� la�v. upon ihe occurrencc o[a dcfault ur anytime
<br /> themafter_ [n addition,l.cnder sha!!he rntitled to all the remedies pruvided bc law.the t�rms uf thr Srcured Debt.
<br /> � � this Securin•Instrument and any relxted documents,including without limitation,the power to sell thr Property. , •
<br /> If thcre is a default. I'rustce shall.in addition to any othes permitted remcdy,at the rcyuest iif thr Lernder,advrrtise _
<br /> and sell the Property as a whole or in separate parcels at public auction tu thr high��t hiddrr Cor cash and cumey � � '�:
<br /> . absolute title free and clear of all right, title and interest of Grantor at such time and placc as Truste�designates. ,, . ;
<br /> Trustee shall give notice of sale including the time,terms and place of sale and a description of th�prape:rty to he so;d . ,
<br /> ' as required by the applicable law in effect at the time of the praposed sale. �• • :x y.
<br />. Upon sale of the property and to the extent not prohibited by law,Trustee shall make and deliver a dced to thr Property � ,
<br /> sold which cohveys ahsolute title to the purchaser,and after first paying all fees.chargc,-s and cost,.shall pay to Lender all � �-
<br /> moneys advanced for repairs, txxes,insurance, licns,as.sessments and prior encumbrances and interest thereon,and the , ti...,;:�r-- :,_
<br /> principal and interest on the Secured Debt.paying the surpla�,if any,to Grantor.Ixnder may purchase the Pruperty. , . ' '• � •' r�� •�'�•�
<br /> The recitals in any deed of conveyance shall be prima facie evidencx�of the facts set Forth therein. � ," S '�'""" �""' ;;�—,
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<br /> All remedies are distinct,cumulative and not exclutiivc.and the L.e:nder is entitled to all remedies provided at law or • � .�:,� �- _�
<br /> - equity,whether or not expressly set forth.The acceptance by Lender of any sum in payment or partial payment on the . • �"f -
<br /> Secured Debt after the balance is duz or is acce;lerated or after for�closure pruce�dings arc filed shall not constiwtc a � ': � �'�-���'
<br /> waiver of L.ender's right to require complete cure of any existing default.By not exercising any remedy on Grantor's- �`�`s�'�;=,!_,..
<br /> defau(t.Lender does not waive Lender's right to later consider the event a default if it continucs or happens again. '`•�s�-
<br /> 16. EXPENSES;ADVA1iCES ON COVENANTS; A"iT0liNEYS' FEES:COLLECTION COSTS. Exa:pt whcn ��'• .� ��+��
<br /> . prohibited by law,Grantor agrees to pay aq of L.ender's expenses if Grantor breaches any covenant in this Sccurity �
<br /> Instrument_Grantor wiU also pay on demand any amaunt incurred by Lender for insuring,inspecting,preserving or , � �•� ..
<br /> othcrwise protecting the Property and Lender s security interest.These expenses will hcar interest from the date of - - ' �•�� -�
<br /> the payment until paid in full at the highest interest rale in effect as provided in thc terms of the Secured D.bt. ,. s�:i
<br /> Grantor agrees to pay all cosu and cxpenses incurred by Lender in collecting,enforcing or protecting Lender's righu ��� � �
<br />, and remcdics undcr this Security Iastrum�r�t. Tl�i�au►uun� may inclu�te,but is nut 1i�»iteJ�u,atwmeys' le��,court -- ---.���� .
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<br /> costs,and other legal exr�enses.This Security Inswment shaU remain in effect until released.Grantor agrees to pay ;, �`��` --
<br /> � for any recordation costs of such release. ��• �� '� —
<br /> . 17. ENVIRO:YMENTAL A.AWS AIYD HA7.ARDOUS SUBS'Q'ANCES.As used in this section.(1)Environmental La�ti� •;y��• �' �
<br /> means,without limitation,the Comprehensive Environmental Response,Compensation and Liability Act(CERC[.A. � �''
<br /> 42 U.S.C. 9601 et seq.),and all other federal,state and local laws,regulations,ordinances,court orders,attorney .1"�`',�. , / YAI,.
<br /> general opinions or interpretive letters concerning the public health, safety,welfare,environment or a hazardous - ' ' . • s•t � _
<br /> �- substancc;and (2) Hai.ardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or �"��`` �� '�
<br /> ' contaminant which has charactcristics which render thc substance dangerous ar potentially dangerous to the pub(ic �' ._ ����-'
<br /> �`:';
<br /> health,safety,welfare or environment.The term includcs,without limitation,any substances defined as °hazardous ����� '�'± �_
<br /> material,""toxic substanceti"••hazardous waste"or"h�uardous substance°under any Environmental Law. �` � � . ��
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<br /> • Grantor represents,warrants and agrees that: .i���'� , �'�'-�'_'�
<br /> � ��'°�'-- --
<br /> A. Except as previously disclosed an:i acknowledged in writing to L�:nder,no Haiardous Substance is or�viU be •�^°�'*�"���--"�
<br /> located,stored or released on or in the Property. This restriction does not apply to small quantities of �y��:,;,.�,��;_
<br /> Hazardous Substances that are gencrally rccogniud to be app*opriatc for the normal usc and maintenance of ��y� °�1..
<br /> _ the Propeny.
<br /> • B. Except as previously disclased and acknowled�ed in writing to L.ender,Grantor and every tenant have been,are, 4�,.r�'-
<br /> •�+ and shall remain in full compliance with any applicable Environmental Law. „�,,,�, ,Q
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<br /> C. Grantor shall immediately notify L.ender if a release or threatened release of a Hazardaus Substance occurs on, �� '-_--- _.
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<br /> under or about the Property or therc is a vialation of any Environmcntal Law conccrning the Property.In such . •�?:"-.--��',,�r��--�'—
<br /> an event.Grantor shaU takc all nececsary remedial action in auordance with any Environmental Law. `�� �;._�
<br /> D. Grantor shall immediately notify l.ender in writing as sc�on as C;rantor has rcason to believe there is any � �N�Y .������' .
<br /> . pending or threatencd investigation,claim,or proa;eding relating to the tcicase or threatened release of any ••- r='�
<br /> Hazardous Substancc ar thr violation of any Environmental Law. --����=r�•�'�
<br /> 18. CONDEMNATION.Grantor will givc I.cnder prompt notice of any pending or threatened action, by private or . •, .�
<br /> public entities to purchase or take any or all of the Property through condemnation,eminent domain,or any other � � • �
<br /> means. Grantor authorizes L.ender to intervene in Grantor's name in any of the above described actions or claims. � �..: �. . —
<br /> Grantor assigns to Lender the procceds of any award or claim for damages cunnected with a condemnation or other � —
<br /> taking of all or Any part of thc Property.Such pracccds shall bc ccrosidcrcd paymcnts and will he applicd as providcd in . �
<br /> this Security Instrument.This assignment of proceeds is subject to the trrms of any prior mortgage.deed of trusi. � �
<br /> security agreement or other lien ducumcnt. . � =
<br /> 19. INSURANCE.Cirantor shall kcep Property insurcd against loss by firc, flood,theft and othcr haiards and risks . Y• ' ' ' •. ,t•
<br /> reasonably associated with the Property duc to its t}+pe and location.This�murana xhall hc maintaincd in the amuunts —
<br /> and for the periods that I,crtder rryuires.Thc insurance carrier prrniding the insurance shall bc choscn by Grantor • ,��---
<br /> subject to I.ender's approval. �vhich shall not hc unrcasonably withhcld. If Grantor fails ta maintain thc cuvcragc ' ��
<br /> descvibed above,l.ender may, at Lrndrr's option,oMain coverage to prc�tcct l.,ender's right�:in thc YrnPcrty according —
<br /> to thc terms of this Sccurity lnstrumcnt. �
<br /> AO insurancr policics and renewals shall he acceptahle tu Le;ndcr and shall includc a standard"m��rt�:agc claux"s�nd, � � . � . ' •
<br /> where applicable.'9os.s payre clausc.°Grantor shall immediatcly notify I.rnder uf canccllatiun ur trrmin.�tion uf the � ' �
<br /> insurancc. l.cndcr shall havc thc right to hold thc policicx and rcn�wal+. lf Lcndcr rcyuires.(;rantur,haU immrdiatcly •• ' � --
<br /> give to I.ender all receipts of}yaid premiums and rrnrwal notice�. Upon luss. (�rantur shal)givc immediatc noticr to � . ..
<br /> thr insurancc carricr and(Ander.L.cndcr may makc pruof of loss if not madc immrdiatcly by Grantor. � '. . • �
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