201604037 - Laserfiche WebLink

Browse

2� 1 ��4�37 19. Sale of Note; ��ange of Laan S�rvicer;hlotic+e�f Grie�ance.The 1vQte or a partial in.terest in the 1�Tote(together with�h�s Security Instrument}Gan be sald one or more t�mes without prior notice to F�orro�rer.A sale might result in a change in the entity(kno�vn as the "Loan S�rv�cer"�that co�lects Period�c Payments due und�r the Note and this�ecur�ty Instrument and performs other mortgage laan ser�icing obligations under the Not�,this Security Instrum�nt,and Applicable Lar�. There aiso might be one or more changes of the Loan Ser�icer unre�ated�o a sa�e of the No�e. If there is a chang�of the Loan SerVlCer,Borro�rer wi11 be given written notice of the change which will state the name and address of the ne�'Loan S�rv�cer,the address to which paymen�s should be made aa�any ather xnformation RESPA requires in cannection with a natic�of transfer of servicing. If the Note is sold an.�th�rea#�er the Loan is ser�iced by a Loan Serv�cer oth�r than the purchaser of��.e No��,the m�rtgage loan s�rv�c��.g�bliga��ons to Borrower wil�r�main with the Loan Ser�ieer or be transferred ta a succ�ssor Loan Servicer and are nat assumed by th�N�t�purchaser unless oth�rwise pro�r�ded by the�ote purchaser. N�ither Borrower nor Lender may�commence,jo�n,or be join�d to any judicial action�as�ither an �ndividual litigant or the mernber of a c�ass)that arise�from the ather party's ac�ians pursuan�to this Security Instrument or that alleges that the other party has brea�hed any provisinn of,or any duty owed b�reason�f,this Secur�ty�nstrum�nt,unt��such Bonower or Lender has notified the other party�with such natice gi�en in compliance with the requirements�f Section 14)of such alleged brea�ch and affarded the other party hereto a reasonable period af�er the g;iving of su�h notice to take corrective ac�ion. If Applicable Law pr�vides a time period which must ela��e bef�re certain a�tion can be taken,that time per�ad�ill be deemed ta be r�asonable far purposes of this Section. The notice af acceleration and oppartunity to cure given to Borro�rer pursuant to �ectian 22 a�d t�e nfl�tice of acceleration given to B�rrower pursuant to Se�tion �7 sha11 be deemed to satisfy the notice an�apportunity to ta.ke carrectiv� action provisions af this�ection I�. 2�. Ba�rower Not Third-PartyBeneficiaryto �vntract of Insur�ance.Mortgage Insuranc�reimburses Lender(�r an�entity�hat purchase�the�To�ej for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower acknowledg�s and agrees that the Barrov��r is not a third part�beneficia�ry to the contract of in.surat�ce be�veen the ��cretary a�d Lender,nor is Borra�ver entitled to enforce any agreement�etween Lender and the Secretary,un�ess explicitly authari�ed to do so by Applicable La�, 2'I. H�zardousSubstances.As used in this S�c�ion 21: �a} "Hazard�us Substances"ar�those substances defined as toxic or ha2ardous substances,pollutants,or�astes by Environmental Law and the fo�towing subs�a.nces:gasoline,kerosene,o�her flammable or toxic petrol�um products,�oxic pest�cides and herbicides,volatile solvents,materials contain.�ng asbestos or formaldehyde,and radioacti�e rna�eria�s; �b}"Environmenta�Law"means federallaws and laws�f the jurisdiction where the Property is located that re�ate to health,safet�ar environ.menta�prot�ction; �c� "Environmental Cleanup" includes any response action�remedial action4 ar r�moval action,as defined in Enviranmental Law;and�d}an "Environ.menta.l Condi��on"means a cond�tion that can cause,contribute to,or otherwise trigger an E�vironmen�a.l Cleanup, Borro�ver shall na�cause ar permit the presence,use,disposal,storage,or release of any Hazardous Substan�es,vr threaten.ta r��ease any Hazardous Substances,�n or in the Proper�y. Borrower sha11 not do,nor allo�r anyane else to do,anything affecting the Property[a}that is�n vio�ation of any Env�.ronmental Lativ, (b�whi�h creates an.En�ji.ronmental Condition,�r�c}�vhic�,due to the presence, use,or release of a Ha�ardous Substance,creates a condition tha�adverse�y affects the�alu�of the Property, The preceding tvva sent�nces�ha1�not apply to the pres�nc�,use,�r starage on th�Pr�perty af FHA❑eed of Trvst With MERS-NE 913412Q14 Bankers Systems�+ VMP� VMP�4N�NE}(��6).04 Walters Kluwer Fir�ancial Services PaBe 13 of'S7' q�33547644U7 4 33 5$9 1317