200100732 - Laserfiche WebLink

Browse

JAN -25 -2001 THU 02:19 PM WELLS FARGO HOME MTG FAX N0, 402 536 2230 P. 27/30 by any governmental or regulatory authority, or any private party, that any rernuval or other remediation Of any Ila7ardous Subs[ance affecting the Property is necessary. Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON - UNIFORM COVENANTS, Botrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Iorrower prior to acceleration following Borrower's breach of any covenant or agreement In this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (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 (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further Inform Borrower of the Fight to reinstate after acceleration and the right to bring a court action to assert the non - existence of a default or any other defense of Borrower to acceleration and sale. if the default is not cured on r before the dale specified in the notice, Lender at its option may require immediate payment ill full of all sums secured by this Security Instrument without further demand and may invoke the power of stile and any other remedies permitted by Applicable Law. Lender shall be entitled to colle expcnscs incurred in pursuing the rem ct all edies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If the power Of sale is invoked, Trustee shall record a notice of default in each county in which any part of the Property is located and Shull mail copies of such notice in the manner prescribed by Applicable I,aw to Borrower and to the other persons prescribed b A hcable Law. After the time required by Applicable Law, Trustee shall give public notice of sale to he persons and in the manner Prescribed by Applicable Law. Trustee, without demand on Borrower, shall sell the Property at Public auction to the highest bidder at the time and place and under the terms designated in tile notice of sale in one or more parcels and in any order Trustee determines. Trustee may Of all or any parcel of the Property by public annouucentent at the time and lace of any sale scheduled sale. Lender or its designee may purchase the Property at any sale. p y previously Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the' Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: a to all costs and expenses of exercising the power of sate, and the sale, including the ( ) Trustee's pees actually incurred and removable attorneys' fees as Permitted b Applicable Law, (1 the all sums secured by this Security Instrument; and (c) any excess to the person persons legate entitled to it. , (b) to 23. Reconveyance. Upon payment of all sums secured by this Security Instrument. Lender shall request Trustee s rr secured b y the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instnurtent to Trustee. Trustee shall reconvey the Property Without warranty to the person or persons legally entitled to it. Such person or persons steal! r an recordation costs. Lender may charge such person or persons a fee for Pere n Or the Property, but only y if the fee is paid to a third art pay y party (such as the Trustee) for services rendered and the charging of the fee is permitted under Applicable Law. 24. Substitute Trustee, Lender, at its option, tnay liom time to rime remove Trustee and appoint a successor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Sccuriry instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein and by Applicable Law. 25. Request for Notices. Borrower requests that copies of the notice of default and sale be sent to Borrower's address which is the Property Address. 61NE) boos) Payn 13 of Is In11ia -� Form 3028 1/01