201207871 - Laserfiche WebLink

Browse

201207871 any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance wi[h Envirunmental Law. Nothing hcrein shall create any obligation on Lender fot an Environmental Cleanup. NON-UNIFORM COVENANTS.Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument(but not prior to acccleration under Section 18 unless Applicablc Law provides otherwise). The notice shall specify: (a)the defaolt; (b)the action required ta cure the default; (c)a date, not Icss than 30 days from the date the noHce is given to Borroweq by which the default must be wred; and(d)that failure to cure thc default on or 6eforc the date specified in the notice may result in acceleration of the sums secured by this Sewrity Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existencc of a default or any other defense of Borrower to acceleration and sale. If'the default is not cured on or before the date specified in the notice, Lender at its opGon may require immediate payment in fu0 of all sums secured hy this Security Instrument without further demand and may invoke the power of salc and any ot6er remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Scction 22,including, but not limited to, reasonable attorneys' fees and costs of tiHe evidence. If t6e power of sale is imoked, Trustec shall record a notice of default in each county in which any parl oF the Property is locatcd and shall mail wpies of such notice in the manoer prescribed by Applicable Law to Borrower and to the other persons prescrihed by Applicable Law. After the time required by Applicable Law, Trustee shall give public notice of sale to the persons and in the manner prescribed by Applicable Law. Trustee, without demaod on Borrower, shall sell thc Property at public auctioo to the highest bidder at the Hme and place and under the terms designated in the naticc of sale in one or more parcels and in aoy ordcr Trustee determines. Trustee may postpone sale oP all or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchxse the Property at any sale. Upon receipt of payment of the price bid, Trustec shall deliver to the purchaser Trustce's decd convcying thc Property. The recitals in the Trustee's deed shall be prima Facie evidence of the truth of the statements made thcrcin. Trustee shall apply the procceds of the sale in the following order: (a)to all wsts and expenses of exercising the power of sale, and the salc, incWding the payment of the Trustee's fees actually incurred and reasonable attorneys' Pees as permitted by Applicable Law; (b)to all sums secured by this Security Instrument and (c) any cxcess to the person or persons Icgally entitled to it. 23. Reconveyance. Upon payment of al]sums secured by this Sewrity InsWment, Lender shall request Trustee to reconvey the Property and shall surrender this Secuciry Instrument and all notes evidencing debt securcd by fhis Security Instrument to Trustee. Trustee shall reconvey the Property without warranty to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. Lender may charge such person or persons a fee for reconveying[he Ptoperty, but only if the fee is paid to a tltird pazty(such as the Trustee)for services reudered and the charging oF the fee is permitted under Applicable Law. 24. Substitute Trustee. Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed hereunder by an instrument rewrded i�the co�nty in which this Security Ins[rumen[ is recorded. Without conveyance of the Properry, the successor trustee shall succeed to alf the title, power and duties canferred upon Trustee herein and by Applicable Law. 25. Request for Noflces. Borrower requcsts thxt copies of[he no[ice of default and sale be sent to Borrower's address which is the Property Address. N�R45KA—Single Family—Fannie MaefFreddie Mac UNIFORM INSTRUMENT po�ye�� Form 3028 1/01 Page 12 of 14 www.docmagic.com