|
201 302494
<br />The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of
<br />acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take
<br />corrective action provisions of this Section 20.
<br />21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances
<br />defmed as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances:
<br />gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents,
<br />materials containing 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 environmental
<br />protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as
<br />defmed hi Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute
<br />to, or otherwise trigger an Environmental Cleanup.
<br />Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances,
<br />or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else
<br />to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an
<br />Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a
<br />condition that 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 generally recognized
<br />to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to,
<br />hazardous substances in consumer products).
<br />Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other
<br />action by any governmental or regulatory agency or private party involving the Property and any Hazardous
<br />Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition,
<br />including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous
<br />Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely
<br />affects the value of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, or
<br />any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is
<br />necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law.
<br />Nothing herein shall create any 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 following
<br />Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration
<br />under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the
<br />action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to
<br />Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date
<br />specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of
<br />the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the
<br />right to bring a court action to assert the non - existence of a default or any other defense of Borrower to
<br />acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its
<br />option may require immediate payment in full of all sums secured by this Security Instrument without
<br />further demand and may invoke the power of sale and any other remedies permitted by Applicable Law.
<br />Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22,
<br />including, but not limited to, reasonable attorneys' fees and costs of title evidence.
<br />If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part
<br />of the Property is located and shall mail copies of such notice in the manner prescribed by Applicable Law to
<br />Borrower and to the other persons prescribed by Applicable Law. After the time required by Applicable
<br />Law, Trustee shall give public notice of sale to the persons and in the manner prescribed by Applicable Law.
<br />Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the
<br />time and place and under the terms designated in the notice of sale in one or more parcels and in any order
<br />Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement
<br />at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at
<br />any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying
<br />the Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements
<br />made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and expenses
<br />of exercising the power of sale, and the sale, including the payment of the Trustee's fees actually incurred and
<br />reasonable attorneys' fees as permitted by Applicable Law; (b) to all sums s cured by this Security
<br />Initials:
<br />NEBRASKA -- Single Family -- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT Form 3028 1 /01 (page 10 of 13 pages)
<br />
|