201208686 - Laserfiche WebLink

Browse

ti0120868� by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Bonower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Bonower 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 acceleration under S�tion 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums s�ured by this S�urity 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-earistence 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 option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expense� incurred in pursuing the remedies providerl in this Section 22, including, but not limited to, reasonable attorneys' fces and costs of title evidence. If the power of sale is invoked, Trustee shall record a notice of default in each county in wluch any part of the Property is located and shall maitl copies of such notice in the manner prescribed by Applicable Law to Borrower and to the other persons prescribed by AppHcable 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 demand on Borrower, shall sell the Property at public auction to the Wghest bidder at the time and place and under the terms designated in the notice of sale in one or more parceLs and in any order 1'rustee determines. Trustee may postpone sale of all or any parcel of the Property by pubHc announcement at the time and place of any previously scheduled sale. Lender or its designce may purchase the Property at any sale. Upon receipt of payment of the price bid, Trust� shall deliver to the purchaser Trustee's dced conveying the Property. The recitals in the Trust�'s dced shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the procceds of the sale in the following order: (a) to all costs and expenses of exercising the power of sale, and the sale, including the payment of the Trustee's fces actually incurred and reasonable attorneys' fees as permitted by Applicable Law; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. R�onveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without wazranty to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. Lender may chazge such person or persons a fee for reconveying the Property, but only if the fee is paid to a third party (such as the Trustee) for services rendered and the chazging 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 mistee to any Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein and by Applicable Law. 25. Request for Notices. Borrower requests that copies of the notice of default and sale be sent to Bonower's address which is the Property Address. �-6G(NE) (0005).0� � Page 13 af 15 Initl . V Form 3028 1 /01 _ ^ ` a, `e, . 6 ti � .