201204150 - Laserfiche WebLink

Browse

2012041 If Lender exercises tlus oprion, Lender shall give Borrower norice of accelerarion. The notice shall provide a period of not less than 30 days from the date the norice is given in accordance with Section 15 within wluch Bonower must pay all sums secured by this Security Instrument. If Bonower fails to pay these sums prior to the expirarion of this period, Lender may invoke any remedies permitted by this Security Instrument without fiuther norice or demand on Bonower. 19. Borrower's Right to Reinstate After Acceleration. If Bonower meets certain conditions, Bonower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Bonower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums wluch then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing tlus Security Instrument, including, but not lnnited to, reasonable attomeys' fees, property inspecrion and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Bonower' s obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Bonower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer' s check or casluer' s cbeck, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or enrity; or (d) Elecironic Funds Transfer. Upon reinstatement by Bonower, this Security Instrument and obligarions secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of accelerarion under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior norice to Bonower. A sale might result in a change in the enrity (l�own as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Tnstrument and performs other mortgage loan servicing obligations under the Note, tius Security Instrument, and Applicable Law. There also might be one or 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 given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other informarion RESPA requires in connecrion with a norice of transfer of servicing. If the Note is sold and thereafter the Loan is setviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Bonower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and aze not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other pazty' s acrions pursuant to tlus Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, unril such Bonower or Lender has norified the other party (with such norice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other pazty hereto a reasonable period after the giving of such notice to take conective action. If Applicable Law provides a time period wluch must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The norice of acceleration and opportunity to cure given to Bonower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take conective action provisions of this Section 20. 21. Hazardons Substances. As used in this Secrion 21: (a) "Hazardous Substances" aze those substances defined as to�cic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials contsining asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response acrion, remedial action, or removal action, as defined in NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS podlag/c� Fomt 3028 1/01 Page 11 of 15 www.docmaglc.mm IIIIIIIIIIIIuIIIIIIuIIuIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII lY `Y��- G�