|
. 200000s54
<br /> 17. Transfer of the Property or a Beneticial Interest in Borrower. If all or any part of the Property or any interest in it :
<br /> is sold or transfened(or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person)without :
<br /> Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this
<br /> Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date :
<br /> of this Security Instrument. :
<br /> If Lender exercises this option, Lender shall give Bonower notice of acceleration. The notice shall provide a per�od of not :
<br /> less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this :
<br /> Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies :
<br /> permitted by this Security Instrument without further notice or demand on Bonower.
<br /> 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall ha�e 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 as :
<br /> applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br /> Security Instrument; or(b)entry of a judgment enforcing this Security Instrument. Those conditions are that Bonower: (a)pays :
<br /> Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) :
<br /> cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, :
<br /> including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure
<br /> that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by :
<br /> this Security Instrument shall continue unchanged. Upon reinstatement by Bonower, this Security Instrument and the
<br /> obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall
<br /> 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 Security
<br /> Instrument)may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity(known
<br /> as the "Loan Servicer") that collects monthly payrnents due under the Note and this Security Instrument. There also may be one :
<br /> or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be :
<br /> given written notice of the change in accordance with paragraph 14 above and applicable law. The notice will state the name and
<br /> address of the new Loan Servicer and the address to which payments should be made. The notice will also contain any other
<br /> information required by applicable law.
<br /> 20. Hazardous Substances. Bonower shall not cause or pernut the presence, use, disposal, storage, or release of any :
<br /> Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the
<br /> Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or
<br /> storage on the Property of sma11 quantities of Hazardous Substances that are generally recognized to be appropriate to normal
<br /> 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 by any
<br /> governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law
<br /> of which Bonower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that
<br /> any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Bonower sha11 promptly take
<br /> a11 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 substances by
<br /> Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic
<br /> pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in
<br /> this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that
<br /> relate to health, safety or environmental protection.
<br /> NON-iJNIFORM COVENANTS. 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 breach
<br /> of any covenant or agreement in tlus Security Instrument (but not prior to acceleration under paragraph 17 unless
<br /> applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default;
<br /> (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
<br /> (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums
<br /> secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to
<br /> reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other
<br /> defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, :
<br /> Lender, at its 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. Lender shall be
<br /> entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 21, including, but not limited
<br /> 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 of the
<br /> Property is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to
<br /> the other persons prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice
<br /> of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell
<br /> the Property at public suction to the highest bidder at the time and place and under the terms designated in the notice of
<br /> sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the
<br /> Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may
<br /> purchase the Property at any sale. :
<br /> Form 3028 9190
<br /> �-BR(NE) Is2i21.oa Pege 5 of 6 Initials: �/ /G
<br /> �
<br />
|