|
20]203407
<br />21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Subvances" are those substances
<br />defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following
<br />.substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides,
<br />volatile solvents, materials containing asbestos of formaldehyde, and radioactive materials; (b)
<br />"Envirovnrenial Lou," means federal laws and laws of the jurisdiction where the Prope ty is located that
<br />relate to health, safety or environmental protection; (c) "6nvironmenial Cleanup" includes any response
<br />action, remedial action, of removal action, as defined in Environmental Law; and (d) an "Enviromawnial
<br />Condition" means a condition that can cause, contribute to, or otherwise nigger an Environmental Cleanup.
<br />Borrower shall not cause or permit the presence, use, disposal, storage, or release of any fdazardous
<br />Substances, or threaten to release any Hazardous Substances, on or in die Property. Borrower shall not do,
<br />nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental
<br />Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a
<br />Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two
<br />sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous
<br />Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of
<br />the Property (including, but not limited to, hazardous substances in consumer products).
<br />Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other
<br />action by any governmental or regulatory agency or private party involving the Property and any Hazardous
<br />Substance or Environmental Law of which Rorrower has actual knowledge, (b) any Environmental
<br />Condition, including but not linuted to, any spilling, leaking, discharge, release or threat of release of any
<br />Hazardous Substance, and (c) any condition caused by the presence, use of release ora Hazardous Substance
<br />which adversely affects the value ofthe Property. If Rorrower learns, or is notified by any governmental of
<br />regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance
<br />affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in
<br />accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an
<br />Environmental Cleanup.
<br />Non -Uniform Covenants. Borrower and Lender covenant and agree as follows:
<br />22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following
<br />Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to
<br />acceleration under Section IS unless Applicable Law provides otherwise). The notice shall specify: (a)
<br />the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date
<br />the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the
<br />default on or before the dale specified in the notice may result in acceleration of the sums secured by
<br />this Security Instrument and sale of the Property. The notice shall further inform Borrower of tike
<br />right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a
<br />default or any other defense of Borrower to acceleration and sale. If the default is not cured on or
<br />before the date specified in the notice, Lender at its option may require immediate payment in full of
<br />all sums secured by this Security Instrument without further demand and may invoice the power of sale
<br />and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses
<br />incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable
<br />attorneys' fees and costs of title evidence.
<br />880118 KA s 8ft3028 1101
<br />NIB C.) ASingle Fainlli Fannie MaelFredtl=e Mac UNIreFEM )NSI RUMENT WITH NIERS 1��".' rINA(NQ8105
<br />VaP O VM P6alara (1 O 7
<br />W opera Kluwer Flnencial Services Page 14 of 17
<br />
|