|
2 01209721
<br />Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as
<br />either an individual litigant or the member of a class) that arises from the other party's actions
<br />pursuant to this Security Instrument or that alleges that the other party has breached any
<br />provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or
<br />Lender has notified the other party (with such notice given in compliance with the requirements
<br />of Section 15) of such alleged breach and afforded the other party hereto a reasonable period
<br />after the giving of such notice to take corrective action. If Applicable Law provides a time
<br />period which must elapse before certain action can be taken, that time period will be deemed to
<br />be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to
<br />cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower
<br />pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective
<br />action provisions of this Section 20.
<br />21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are
<br />those substances defined as toxic or hazardous substances, pollutants, or wastes by
<br />Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic
<br />petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing
<br />asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal
<br />laws and laws of the jurisdiction where the Property is located that relate to health, safety or
<br />environmental protection; (c) "Environmental Cleanup" includes any response action, remedial
<br />action, or removal action, as defined in Environmental Law; and (d) an "Environmental
<br />Condition" means a condition that can cause, contribute to, or otherwise trigger an
<br />Environmental Cleanup.
<br />Borrower shall not cause or permit the presence, use, disposal, storage, or release of any
<br />Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property.
<br />Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in
<br />violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which,
<br />due to the presence, use, or release of a Hazardous Substance, creates a condition that
<br />adversely affects the value of the Property. The preceding two sentences shall not apply to the
<br />presence, use, or storage on the Property of small quantities of Hazardous Substances that are
<br />generally recognized to be appropriate to normal residential uses and to maintenance of the
<br />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,
<br />lawsuit or other action by any governmental or regulatory agency or private party involving the
<br />Property and any Hazardous Substance or Environmental Law of which Borrower has actual
<br />knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking,
<br />discharge, release or threat of release of any Hazardous Substance, and (c) any condition
<br />caused by the presence, use or release of a Hazardous Substance which adversely affects the
<br />value of the Property. If Borrower learns, or is notified by any governmental or regulatory
<br />authority, or any private party, that any removal or other remediation of any Hazardous
<br />Substance affecting the Property is necessary, Borrower shall promptly take all necessary
<br />remedial actions in accordance with Environmental Law. Nothing herein shall create any
<br />obligation on Lender for an Environmental Cleanup.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration
<br />following Borrower's breach of any covenant or agreement in this Security Instrument (but not
<br />prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice
<br />shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than
<br />30 days from the date the notice is given to Borrower, by which the default must be cured; and
<br />(d) that failure to cure the default on or before the date specified in the notice may result in
<br />Form 3028 1/01
<br />NEBRASKA - Single Family - Fannie Mae /Freddie Mac UNIFORM INSTRUMENT
<br />NE /4XXXXXREP00000000000647059N Wolters Kluwer Financial Services VMPe
<br />
|