|
ROGER SMITH STEPHANIE SMITH 98�' ��� ��^ 201616 04/13/1998
<br /> 18, Borrower's Right to Reinstate. r�otwithstandin�; Lend.er's acceleration of the sums secured by this Deed of
<br /> jI'rust. due to Borrower's breach, Borrower shall have tbe right to have any proceedings begun by Lender to enforce this
<br /> Deed of Trust discontinued at any time prior to the earlier to occur of (i) the fifth day before the sale of the Property
<br /> pursuant to the power of sale contained in this Deed of Trust ar(iil entry of a judgment enforcing this Deed of Trust if: (a)
<br /> Bonower pays Lender all sums which would be then due• under this Deed of Trust and the Note had no acceleration
<br /> occuned; (b) Borrower cures all breaches of any other covena.nts c�r agreements of Borrower contained in this Deed of
<br /> Trust; (c) Bonower pays all reasonable expenses incurred by Len�er and Trustee in enforcing the covenants and
<br /> agreements of Bonower contained in this Deed of Trust and in enforcing Lender's and Trustee's remedies as provided in
<br /> paragraph 17 hereof, includiug, but not limited to, reasonable attorneys' fees; and (d) Bonower takes such action as
<br /> Lender may reasonably require to assure diat the lien of this DeecY of Trust, Lender's interest in the Property and
<br /> Borrower's obligation to pay the sums secured by this L�eed of Trust shall concinue unimpaired. Upon such payment and
<br /> cure by Borrower, this Deed of Trust and the obligations secured hereby shall remain in full force and effect as if no
<br /> acceleration had oc;cuned.
<br /> 19. Assignme�rt of Rents; Appointment of Recei ve�r, i.ender in Possession. As additional security hereunder,
<br /> Borrower hereby assigns to Lender the rents of the Property, provided that Bonower shall, prior to acceleration under
<br /> paragraph 17 hereof or abandonment of tlie Property, have tt►e right to collect and retain such rents as they become due and
<br /> payable.
<br /> Upon acceleration under paragraph 17 hereof or abandonment of the Pmperty, Lender, in person, by agent or by
<br /> judicially ap�inted receiver shall be entitled to enter upon, take possession of�nd manage the Property and to collect the
<br /> rents of the Property including those past due. All reY�ts collected by Lender or the receiver shall be applied first to
<br /> payment of the costs of management of the Property and collection uf ren±s, including, but not limited to, receiver's fees,
<br /> premiums on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this Deed of Trust. Lender
<br /> and the receiver shall be liable to account only for those rents actually received.
<br /> 20. Reconveyance. Upon payment of all sums secured by ttus Deed of Trust, Lender shall request Trustee to
<br /> reconvey the Property and shall surrender this Deed of Trust and all notes evidencing indebtedness secured by this Deed of
<br /> Trust to Tnistee. Trustee shall reconvey the Propert}� wittiout wananty and without charge to the person or persons legally
<br /> entitled thereto. Such person or persons shall pay all costs of recordatiori, if any.
<br /> 21. Substitute Trustee. Lender, at Lender's option, may frozn time to time remove Trustee and appoint a successor
<br /> trustee to any Trustee appointed hereunder by an i;istrumemt recorded in the county in which this Deed of Trust is
<br /> recorded. Without conveyance of the Property, the successor trustee sha11 succeed to all the title, power and duties
<br /> conferred upon the Trustee herein and by applicable law.
<br /> 22. Request for Notices. Borrower requests that coities of the notice of default and notice of sale be sent to
<br /> Borrower's address which is the Property Address.
<br /> 23. Hazardous Substances. Borrower shall�ot cause or pernut the presence, use, disposal, storage, or release of any
<br /> Hazardous Substances an or in the Property. Borrower shall not do, nor a11ow anyone else to do, anything affecting the
<br /> Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use,
<br /> or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to
<br /> norcnal residential uses and to maintenance of the F'roperty.
<br /> Bonower shall promptly give Leuder written notice of any ?nvestigation, claim, demand, lawsuit or other action by
<br /> any govemmental or regulatory agency or private party iirvolving the Pro��erty and any Hazardous Substance or
<br /> Environmental Law of which Borrower has actual �;nowledge. �.f F3or��ower learns, or is notified by any governmental or
<br /> regulatory authority, that any removal or other reme�iation of any Hazardous Substance affecting the Property is
<br /> necessary, Bonower shall promptly take all necessary ren:ediai actions in accordance with Environmental Law.
<br /> As used in Wis paragraph 23, "Hazardous Substanc,es" are thase substances defined as toxic or ha�udous substances
<br /> by Environmental Law and the following substances: gas�line, kerosene, other flammable or toxic petroleum products,
<br /> toxic pesticides and herbicides, volatile solvents, materials containing asbestos or forn�aldehyde, and radioactive materials.
<br /> As used in this paragraph 23, "Environmental Law" nieans federal laws a:�d laws of the jurisdiction where the Property is
<br /> located that relate to health. safety or enviroumental prot�ctioxi.
<br /> (Intentionally i,e:ft Alank)
<br />
|