|
98- 1���s4s
<br /> 16.Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Inswment.
<br /> 17.Transfer of the Property or a Bene�cial Interest in Borrower. If all or any part of the Property or any interest in it is
<br /> solc� or transfened (or if a beneficial interest in Bonower is sold or transfened and Bonower is not a natural person) without
<br /> Lender's prior written consent,Lender may,at its opdon, require immediate payment in full of all sums secured by this Security
<br /> - Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this
<br /> Security Instrument.
<br /> If Lender exercises this option,Lender shall give Bonower notice of acceleradon.The notice shall provide a period of not less
<br /> than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security
<br /> Instrument. If Borrower fails to pay these sums prior to the expiration of this period,Lender may invoke any remedies permiued
<br /> by this Security Instrument without further notice or demand on Borrower.
<br /> 18.Borrower's Right to Reinstate. If Bonower meets certain conditions, Bonower shall h�ve 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 Security
<br /> Instrument;or(b)entry of a judgment enforcing this Security Instrumen�Those conditions aze that Borrower: (a)pays Lender all
<br /> �ums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any
<br /> default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Inswment, including,but
<br /> not limited to,reasonable attomeys' fees;and(d)takes such action as Lender may reasonably require to assure that the lien of this
<br /> Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security
<br /> Inswment shall continue unchanged. Upon reinstatement by Bonower, this Security Inswment and the obligations secured
<br /> hereby shall remain fully effective as if no�celeradon had occurred. However,this right to reinstate shall not apply in the case of
<br /> 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 /> InsWment) may be sold one or more times without prior nodce to Bonower. A sale may result in a change in the entity (known
<br /> as the"Loan Servicer")that collects monthly payments due under the Note and this Security Instrument.There also may be one or
<br /> more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Bonower will be
<br /> given written notice of the change in accordance with paragraph 14 above and applicable law. The nodce will state the name and
<br /> address of th� new Loan Servicer and the address to which payments should be made. The notice will also contain any other
<br /> information required by applicable law.
<br /> 20.Hazardous Substances. Boaower shall not cause or permit the presence, use, disposal, storage, or release of any
<br /> Hazardous Substances on or in the Property. Bonower shall not do,nor allow anyone else to do,anything affecdng the Property
<br /> that is in violadon of any Environmental Law. The preceding two sentences shall not apply to the presence,use,or storage on the
<br /> Property of small quandties of Hazardous Substances that are generally recognized to be appropriate to normal residential uses
<br /> and to maintenance of the Property.
<br /> Borrower shall prompdy give Lender written notice of any investigation, claim, demand, lawsuit or other action by any
<br /> governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law
<br /> of which Borrower has actual knowledge. If Borrower leams,or is notified by any govemmental or regulatory authority,that any
<br /> removal or other remediation of any Hazardous Substance affecting the Property is necessary, Bonower shall prompdy take all
<br /> necessary remedial actions in accordance with Environmen[al Law.
<br /> As used in this paragraph 20, "Hazardous Substances" aze those substances defined as toxic or hazardous substances by
<br /> Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic
<br /> �esticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in
<br /> this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate
<br /> to health,safety or environmental protection.
<br /> NON-iJNIFORM COVENANTS.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 breach of
<br /> any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless
<br /> applicable law provides otherwise).The notice shall specify: (a) the default; (b) the action required to cure the default; (c)
<br /> a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d)
<br /> t6at failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured
<br /> by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate
<br /> after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of
<br /> Borrower to acceleration and sale. If the default is not cured on or before the date speci�ed in the notice, Lender, at its
<br /> option, may require immediate payment in full of all sums secured by this Security Instrument without further demand
<br /> and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect
<br /> all expenses incurred in pursuing the remedies provided in this paragraph 21, including, but not limited to, reasonable
<br /> 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 to the
<br /> other persons prescribed by applicable law. After the time required by applicable law,Trustee shall give public notice of
<br /> sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the
<br /> Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale
<br /> Form 3028 9/90
<br /> � -6R(NE)�e2�z�.o� Page 5 of 8
<br /> m Initials:
<br /> .. ; .
<br />
|