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- 2000006 �4
<br /> 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or
<br /> by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to
<br /> the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given
<br /> by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any
<br /> notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given
<br /> as provided in this paragraph.
<br /> 15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the
<br /> jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the
<br /> Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br /> which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and
<br /> the Note are declared to be severable.
<br /> 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br /> 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br /> interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower �s not a
<br /> natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of
<br /> all sums secured by this Security Instrument However, this option shall not be exercised by Lender if exercise is
<br /> prohibited by federal law as of the date of this Security Instrument.
<br /> If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a
<br /> period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums
<br /> secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender
<br /> may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br /> 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have
<br /> enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period
<br /> as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in
<br /> this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that
<br /> Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no
<br /> acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in
<br /> enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as
<br /> Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and
<br /> Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement
<br /> by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration
<br /> had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraph 17.
<br /> 19. Sale of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this
<br /> Security Instrument) may be sold one or more times without prior notice to Borrower. A sale may result in a change
<br /> in the entity (known as the "Loan Servicer") that collects monthly payments due under the Note and this Secunty
<br /> Instrument. T'here also may be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is
<br /> a change of the Loan Servicer, Borrower will be given written notice of the change in accordance with paragraph 14 above
<br /> and applicable law. The notice will state the name and address of the new Loan Servicer and the address to which
<br /> payments should be made. The notice will also contain any other information required by applicable law.
<br /> 20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release
<br /> of any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything
<br /> affecting the Property that is in violation of any Environmental Law. 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 recogivzed to
<br /> be appropriate to normal residential uses and to maintenance of the Property.
<br /> Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action
<br /> by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or
<br /> Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or
<br /> regulatory authority, 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 /> As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous
<br /> �ubstances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toaric petroleum
<br /> products, toxic pesticides and herbicides, volatile solvents, materiaLs containing asbestos or formaldehyde, and radioactive
<br /> materials. As used in this paragraph 20, "Environmental Law" means federal laws and laws of the�ur�sdiction where the
<br /> Property is located that relate to health, safety or environmental protection.
<br /> Norr-UxiFoxM CovErrArrr�s. Borrower and Lender further covenant and agree as follows:
<br /> 21. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's
<br /> breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph
<br /> 17 unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to
<br /> cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the
<br /> default must be cured; and (d) that failure to cure the default on or before the date specified in the notice will
<br /> result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall
<br /> further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert
<br /> the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured
<br /> on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums
<br /> secured by this Security Instrument without further demand and may invoke the power of sale and any other
<br /> remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the
<br /> remedies provided in this paragraph 21, including, but not limited to, reasonable attorneys' fees and costs of title
<br /> evidence.
<br /> If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of
<br /> the Property is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower
<br /> and to the other persons prescribed by applicable law. After the time required by applicable law, Trustee shall give
<br /> public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on
<br /> Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the terms
<br /> designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone
<br /> sale of all or any parcel of the Property by public announcement at the time and place of any previously scheduled
<br /> sale. Lender or its designee may purchase the Property at 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 made
<br /> therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and expenses of
<br /> exercising the power of sale, and the sale, including the payment of the Trustee's fees actually incurred, not to
<br /> exceed in the aggregate fifty dollars or one-half of one percent of the principal amount of the Note at the time of
<br /> the declaration of default, whichever is greater, and reasonable attorneys' fees as permitted by law; (b) to all sums
<br /> secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it.
<br /> Form 3028 9/90 (Page 4 of 5 Pages)
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