201207314 - Laserfiche WebLink

Browse

2012073�4 If Lender exercises this option, Lender sha11 give Borrower notice of acceleration. The notice sha11 p�+ovide a period of not less than 30 days &om the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrumen� If Borrower fails to pay these swns prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without furkher notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the ri�ht 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 Insmiment; (b) such other period as Applicable Law might specify for the termination of Borrower's rlght to relnstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Ittswment 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 this Security InsUument, including, but not liauted to, reasonable attomeys' fees, property inspection 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 rlghts under this Security Instrument, and Boaower's obligation to pay the sums secured by this Securlty Instrument, sha11 continue unchanged. Lender may require that Borrower 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 c�shier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instnunentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obli�ations secured hereby sha11 remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grlevance. The Note or a partial interest i� the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Sen+icer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower 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 information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold aad thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferre.d to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note pwchaser. 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) thai arlses from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason o� this Security Instrument, until such Borrower or Lender has notified the other party (with such notice �iven in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a ressonable period after the giving of such notice to talce corrective action. If Applic�ble Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and oppofimity to cure given to Borrower 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 corrective action provisions of this Section 20. 21. Fi�zardous Substances. As used in this SectIon 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substa.nces: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containin� 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 res�nse action, remedial action, or removal action, as defined in Environmental Law; and (d) an "F.nvironmental Condition" means a condition that can cause, contribute to, or otlzervr+ise trigger an Environmental Cleanup. neewASrw ��ngie ramuy-Fanme mae�Freame mac uniFVRm m� ixumtn i ro c8 ,�u, / Page 10 of 12 / i�, ma Borrower(s) Initlals Y