|
;.;�_:•?•%j •;i..
<br /> . . «f��� . . .
<br /> �.� •
<br /> i . �
<br /> .. .."_' " "._. . . . . �� ._ ..
<br /> .._,. " . � . :1���- . ._ �'.
<br /> . _ . . ... _. ���" . � � _. ' .�k�^�"-:
<br /> ' �i�
<br /> , contllr,ts with appllcable law, such confllct shali not eflect other provisions o} lhis Secudty Instmment or the Note whicti can be • 1 .
<br /> gNen eHect without the confllcting provislon.To ihis end ihe provisions oi this Security Instrurnent and the Note are declared to "`
<br /> -i,:
<br /> j be severabla. � � -
<br /> �
<br /> ' 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. • •.
<br /> 16. Hazardous SUbSt8�Ce8. Borrower shell not cause or pemilt the presenco, use,disposnl, storage, or rolease a1 :�l"
<br /> any liazardous Substences on or in ihe Properry. 6orrower shall not do, nor allow anyone else to do, anything attecting tha ,',T
<br /> Property that fs In vlolatlon ot any Environme�tal Law. The preceding twa sentences shell not apply to the presenr,e. uso. or -����_
<br /> slorapo on lhc PropeRy of small quantitlos ot Hazardous Suhalenr.es thel ere gennrally rQCOyrozed lo be appropnato to normid i . 'l..'
<br /> resldentlal uaes end to malntenance ol the Property. :� -`��
<br /> � r.,.
<br /> `"' Borrower shall promptty give Lende� written notice ol any invesdqalion, claim. demand. lawsult or other action �y nny . .� _
<br /> � ' governmental�r reguletory egency �ir prlvate party InvoNlnp tho Property end any Hazardous Substencn or EnvironmUntul Lnw ol +� ��,._=�-4��
<br /> whlch Borrower has actual knowledga. It Borrowor Ieams, or Is notified by any governmental or requlatory authority, that �ny � �'
<br /> �_-
<br /> � romoval or other remediapon o1 eny Hazardous Subs�ences alfecUn{�the Property Is ner.essary.Borrownr shnll promplly tnko nll r ; -�
<br /> nocos�ary remodlal acllons In uccordence wlth EnvlronmAn�al I.nw. � '�'�
<br /> . a As used In thls paragraph 18, "Ha7.ardcus Substences' nre thosa substances doflnod as loxic or hazerdous substances by � -,-
<br /> ,3;4
<br /> , Envlronmenlel Lew and tho following subetences: gnsoline, korosene, other f�ammable or loxic petroleum products. toxic . ,;
<br /> '" poeticldos end horblcldes, voletlle solvents,matedals contalning asbestos or lormeltlehyde, and radioactfve mstenals- As used fn r •
<br /> � i v-'-
<br /> � I lhe peragreph 16, `Envlronmental Law' means federal laws and laws of Ihe judsdlcHon where Ihe Property Is located that reiate +•-.-
<br /> to health. sefety or environmentel pr�tectlon. ��" I
<br /> + , d�,:r—
<br /> i � NON•UNIFORM COVENANTS. Boirower and Lender lurther covenant end egrae as lollows: �j�..,;...
<br /> � �.,.,
<br /> � =-
<br /> w 17. Aselgnment of Rentg.9ortower uncondltionally asslgns and transfers to Lender all the rents and revanues of the ��o•-
<br /> Property. Borrower euthorizes Lender or Lender's agents to collect iho rants and revenues and hereby dlrects each tenant of the i , ,
<br /> � � Propeity to pay the rents to Lencler or Lender's agents. However, pdor to Lender's notice to Borrower of Borrower's breach of
<br /> �___-`-
<br /> � eny covenant or agreement in the Secuefty Instrument, Borrower shetl collect and receive all renis end revenues of the Property
<br /> � as trustee for the benetit of Lender end Borrower. Thls asslgnment of rents constltutes an qbsolute esslgnment and not an -;_ -
<br /> assignment far addfUonai security only. ��_
<br /> �` If Lender gNes notice of breach to Bortower. (a) all rents recelved by Borrower shall be held by Borrower es t-�stee for _
<br /> ��;;.:�-
<br /> � benefit of Lender only, to be applied to the sums secured by ihe Securiry Instrument: (b) Lender shall be entitled to coliect and �;c�•�-'��
<br /> � �i raceivn a1t uf the rents of the Proparry; snd (c� sach tenant of the Property shall pay sll reat� duo And unpnid to Lender or .'`"',,��!"�._.��
<br /> �� Lender's agent on Lender's written demanci to the tenant.
<br /> ...� ti�� .. r ill nnt An m an wc that wm,Id ravant ����-
<br /> - norrower iitt� nui nnnwidd 6iiy piiur asSigr���er�i ot ths rer�.� w� ••� ynd "y ['"-•-� Y - ► ! � S'
<br /> Lender from exercising its rights under this Paragreph 17. � °
<br /> Lender shall not be required to enter upon,take control of or malntaln the Property before or after giving notice ot breach to ��L,-.
<br /> J � Borrower. However, Lender or a Judiclally appointed recelver mey do so at any tlme there Is a breach. Any appllcation of rents -
<br /> . shall not cure or walve any default or InvaNdate any other right or remedy oi Lender. This assignment of rents of the Property
<br /> S shall terminate when the debt secured by the Security Instrument is pafd in full. �'
<br /> .� .
<br /> 4 18. Foreclosure Procedure. If Lender requires immedfate payment in full under Paragraph 9.
<br /> Lender may Invoke the power of sale and any other remedies permltted by applicable law. _ -
<br /> y• Lender ehall be entitled to collect ali expenses incurred in pursuing tha remedies provided in =_ --- �
<br /> this Paragraph 1 S, including, but not Ilmited to, reasonable attorneys' fees and costs of title ----
<br /> evidence. �
<br /> e` If tho power of sale is invuked, Trustee shall record a notice of default in eech county in --
<br /> � whlch any part of the Property Is located and shatl mall coples of such notice in the manner �
<br /> �• prescribed by applicable law to Borrower and to the other persons prescribed by applfcablo law. E_
<br /> � After the time required by appliceble law, Trustee shall gtve public notice of sale to the persons =
<br /> and In the manner prescribed by applicable law. T�ustee, without demand on Borrower, sh�ll sell —=.
<br /> � � the Property at public auction to the highest bidder at the t�me and pleco and under the terms ��--
<br /> designated tn the notice of sale In one or more paroels and tn any arder Trusten determines. `°u�"-
<br />- := Trustee may postpone sale of all or any parc¢I of the Property by puhlic ennouncement at the �___.r__�.
<br /> ' time and place of any prevlously scheduled sale. Lerder or (ts designee may purchaso the �-�'�'
<br /> Property at any eale. � '�
<br /> u
<br /> Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's ' �':a:.�+.,�
<br /> •:�'��. . � �.
<br /> deed conveying the Property. The recitals in the Trustee's deed shali be prima facio ovidenca of ,_„ �'- _
<br /> the truth of the atatements made therein. 7rustee shall apply the proceeds of the sale in the .. �•
<br /> - following order. (a) to all coste and expenses of exercising the power of sale, and the sale. �`' ': • �': �'
<br /> _ including the payment of the Trustee's fees actually Incurred, not to exceed three 9'0 �. _ ,
<br /> of the principal amount of the note at the time of the declaration of default, and reasonable
<br /> attorneys' fees as pvrmitted by law; (b) to all sums secured by this Securtty Instrument; and (c)
<br /> any excess to the person or persons I�gally entitled to it.
<br /> ; If the Lender's �nterest in thia Security Instrument Is held by the Secretary and thA Secretary
<br /> � requires immediate payment In full under Paragru�ph 9,the Secretary may invoke the nonjudic(al • ' .
<br /> , power of sale provided In 4he Single Famfly Mortgagn Foreclosure Act of 1Q94 ("AcY') (12 U.S.C. '
<br /> 3751 et seg.) by requesting a foreclosure commissioner designated under the Act to commence
<br /> . foreclosure and to setl the Property as provided in the Act. Nothing in the preceding sentence I
<br /> = shall deprive the Secre4ary of any r(ghts otherwise avallable to a Lender under this Paragraph 18 i ' �
<br /> or applicabfe law.
<br />- i
<br /> - 19. Reconveyance. Upon payment ol all surns secured by ihis Security Instrumenl.Lender shell requesl Trustee to ,
<br /> reconvey ihe Property and shall surrender this Security Insirumenl and all noted ewdencing debt secured by this Security
<br /> Instrument to Trustee. Trustee shell reconvey the Property without warranty and without charge Iu Iho person or persons legally
<br /> entitled to it.Such person or per;ans shall pay any recordatlon cc�sls �
<br /> _ i
<br /> ��,,,,:�n-.,�•��:: ������ .� . !
<br /> I
<br /> � �,;�i„
<br />
|