|
. 9�' ��.4�s�
<br /> 17. Transf'er of the Property or a Ber.eficial Interest in Borrower. If all or any part of the Property or any interest in it
<br /> is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural personj without
<br /> Lender's p�ior written consent, Lender may, at its option, require immediate paymen[ in full of all sums secured by this
<br /> Sec�rity Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date
<br /> of this Security Instrument.
<br /> If Lender exercises this option, Lender shaN give Borrower notice of acceleration. The notice shali provide a period of not
<br /> less than 30 days from the date the notice is de(ivered or mailed within which Borrower must pay all sums secured by this
<br /> Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies
<br /> permitted by this Security Instrument without further notice or demand on Borrower.
<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) pays
<br /> Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b)
<br /> cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument,
<br /> including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure
<br /> that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by
<br /> !his Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the
<br /> obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall
<br /> 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 prior notice to Borrower. 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
<br /> or more changes of the Loan Servicer unrelated to a sale of the Note. If[here is a change of the Loan Servicer, Borrower will be
<br /> given written notice of the change in accordance with paragraph 14 abovc and applicable law. The notice will state the name and
<br /> ad�ress of the 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 /> 2U. Hazardous Substances. Borrower shall not cause ��r permit the presence, uu, disp<�sal, st��rage, or rela�sc of any
<br /> Hazurdous Suhstances on or in the Property. Borrower shall not do, n��r allow anyone elsc 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, or
<br /> storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal
<br /> residential uses and to ►naintenance of the Property.
<br /> Borrower shall promptly 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 learns, or is notif�ied by any governtnental ��r regulatory authority, that
<br /> any removal or other remediation of any Hazardous Substance affecting die Property is necessary, Borrower shall promptly take
<br /> all necessary re►nedial actions in accordance with Environmental Law.
<br /> As used in this paragraph 20, "Hazardous Substances" are those substances detined as toxic or hazardous substances by
<br /> Environmental Law and the following substances: gasoline, kerosene, other 1lammable or toxic petroleuni products, toxic
<br /> pesticides and herbicides, volatile solvents, materials containing asbestos or f�ormaldehyde, 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
<br /> relate to health, safety or environmental protection.
<br /> NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br /> 21. Acceleration; Remedies. Lender shall give notice to Borrower prior to aceeleration following Borrower's breach
<br /> �f an�� covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless
<br /> applicable la��� provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default;
<br /> (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the defau(t must be cured; and
<br /> (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums
<br /> secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to
<br /> reinstate after acceleration and the right to bring a court action to assert the non-existence of a def'ault or any other
<br /> defense of Borrower to acceleration and sale. If the default is not cured un or before the d�te specified in the notice,
<br /> Lender, at its option, may require immediate payment in full of all sums secured by N�is Security lnstrument without
<br /> further demand and ma�� invoke the power of sale and any other remedies permittcd by applicable la��. Lender shall be
<br /> entitled to collect all expenses incurred in pursuing the remedies provided iu this paragrapl� 21, includin�, but not limited
<br /> to, reasonable attorneys' fees and costs of title evidence.
<br /> If the po«-er of sale is invoked, Trustee shal) record a notice of default in each cuunty in ���hich any part of the
<br /> Propert�� is located and shall mail copics of such notice in the manner prescribed by applicable law to 13orro���er and to
<br /> the other persons prescribed by applicable la�i�. After the time required b,y .�pplicable law, Trustee shall kive public notice
<br /> of sale to the persons and in the manner prescribed bv applicable la�v. Trustee, without demund on Borrower, shull sell
<br /> the Propert�� at public auction to the highest bidder at the time and place ancl under the terms desiknated in the notice of
<br /> sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale uf all or any parcel of the
<br /> Properh b� public annoancement at the time and place of an�� previousl,y scheduled sale. Lender or its desi�;nee may
<br /> purchase the Property at any sale.
<br /> Form 3028 9/90
<br /> Paye 5 of 6
<br />
|