|
._. .,..,.: .
<br /> � . .. z,
<br /> .
<br /> . , 9$" 1(�3'760
<br /> by this Security Instrument���o�er�ils to pay these sums prior to the expiration of this period, Lender may invoke
<br /> any remedies permitted by this Security Instrument without further notice or demand on Bonower.
<br /> 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have
<br /> enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br /> applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br /> Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a)
<br /> pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had
<br /> occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this
<br /> Security Instrument, including, but not limited to, reasonable attomeys' fees; and (d) takes such action as Lender may
<br /> reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's
<br /> obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower,
<br /> this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred.
<br /> However, this right to reinstate shall not apply in the case of acceleration under paragraph 17.
<br /> 19. Sale of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security
<br /> Instrument) may be sold one or more times without pnor notice to Borrower. A sale may result in a change in the entit�
<br /> (known as the "I.oan Ser�ticer") that col�ects�onthlY.g�ts due under tl� No� aa�d�lus ' � x�:��,�%:,
<br /> c
<br /> also a�►y be one or� �#t��'S�Ic���,�o`� �:�f'1�e`Not�:�f�e3�e``�b ��`- "o " e an
<br /> � '..Derv�"i�; 'Borrower will be'giveri writ�en notice of the change ix� accordance with paragraph 14 above and applicable law.
<br /> The notice wilI state the name and address of the new Loan Servicer and the address to which payments should be made.
<br /> The notice will also contain any other information required by applicable law.
<br /> 20. Hazardous Substances. Borrower shall not cause or pernut the presence, use, disposal, storage, or release of
<br /> any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting
<br /> the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence,
<br /> use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate
<br /> to normal residential uses and to maintenance of the Property.
<br /> Bonower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by
<br /> any govemmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environ-
<br /> mental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory
<br /> authority, that any removal or other remediation of any Hazazdous Substance affecting the Property is necessary, Bonower
<br /> shall promptly take all necessary remedial actions in accordance with Environmental Law.
<br /> As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazazdous substances
<br /> by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products,
<br /> toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials.
<br /> As used in this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is
<br /> located that relate to health, safety or environmental protection.
<br /> NoN-UNiFORM CovErrnrrTS. Borrower and Lender further covenant and agree as follows:
<br /> 21. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's
<br /> breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17
<br /> unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the
<br /> default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be
<br /> cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration
<br /> of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower
<br /> of the right to reinstate after acceleration and the rig�t to' bring a^caurt,action to assert the non-existence oP a
<br /> default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date
<br /> specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this
<br /> Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by
<br /> applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this
<br /> paragraph 21, including, but not limited to, reasonable attorneys' fees and costs of title evidence.
<br /> If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of the
<br /> Property is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and
<br /> to the other persons prescribed by applicable law. After the time required by applicable law, Trustee shall give
<br /> public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on
<br /> Borrower, shall sell the Property at public auction to the lughest bidder at the time and place and under the terms
<br /> designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone
<br /> sale of all or any parcel of the Property by public announcement at the time and place of any previously scheduled
<br /> sale. Lender or its designee may purchase the Property at any sale.
<br /> Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the
<br /> Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made
<br /> therein. Trustee shall apply theproceeds,p�tb�e�ale,.lD,the following order: (a) to all costs and expenses of exercising
<br /> t .s�4,�',�ia i»,2��rr�. u:t ,i�,t����� �� '
<br /> b:,t.� .�.,s3.N`ti' "�'T ''�
<br /> p [G. ,;r 2,�3.t,.,a ,�,�a;�+(�1 t" _
<br /> Form 3028 9/90 (page 5 of 61
<br /> BANKERS SYSTEMS,INC.,ST.CLOUD,MN 56302(1-800-397-2341)FORM MD-1-NE 2/5/91
<br />
|