201605398 - Laserfiche WebLink

Browse

2� 1 ��5398 19. Sa�e of Note; Change of Loan Servicer;Notice of Gr�evance.The Nate or a partial interest in the Note (toge�her tvith this Security Instrument}can be sold one or more times without prior notice to Borrower, A sale migh�result in a change in the entity(k�own as the "Loan Servicer"}that collects P�riodic Payments due under the Note and this Security Instrument and performs other mortgage loan ser�icing flbligations under the Nfl�e,this Security Instrument,and Applicable Lavv, There also might be one or more changes of the Laan Ser�icer unre�ated to a sale af the Note. If there is a change af the Loan Ser�icer,Borrower wi11 b�given written notice of the change which v�i11 state the name and address of th�new Laan Ser�icer,the address tn which payments shauld be made and any other information RE�PA require�in connectian vv�th a notice of transfer of ser�icing. If the Note is sold and thereafter the Loan�s ��r�ic�d by a Loan Ser�iGer other than the purchaser�f th�No��,the mortgage�oan servicing obligations to Borrower vvill remain w�th the Loan Ser�icer or be transferred to a successor Loan Servicer and are not assumed by the NQte purchaser un�ess otherwise pro�ided by the Nate purchaser. Neither Borrower nor Lender may commence,jain,or be j�ined to any judicial action�as ei�her an individuallitigant or the member of a class)that arises from the other party`s actions pursuant to this Security Instrument or that alleges that the other party has breacbed any provision of,or any duty ovved by reason of,this Security Instrument,until such Borr�wer or Lender has notified the other party(with such notice given in compliance with the requirements af Section 14}of such al�eged l�reach and afforded the other par�y her�to a reasonable period ai�er the gi�ing of such notice to take�orrective acti�n. �f App�icable Law provides a��me period�hich must elapse before certain action can be taken,that t�me period�vi11 be deemed to be reasonable for purposes of this Section. The natice Qf acceleratian and opportunity ta cure given ta Bonower pursuant to Sec�ion��and the notic�af acceleration given to Borrower pursuant to Section 17 shall be deemed tn satisfy the natice and opp�rtunity to ta.ke corrective action provisions of this Section 19. �4. Bvrrawer Not Third-PartyBeneficiaryto Contract of Insurance.Martgage �nsurance re�mburses Lender(or any ent�ty that purchases the Note}for certain losses it may incur if Borrower does nat repay the Laan as agreed. Barro�ver ackno�vledges and agrees that the Borro�ver is not a third part�benefic�ary to the contract of insuranc�bet�veen the Secre�ary and Lender,nor�s Bor�-ower entitled to enforce any agreement between Lender and the Secretary,unless explici�Iy authorized to do sa by Applicable La�v. �'I. HazardousSubstanees.As used in this Section 21: (a} "Hazardous �ubstances"are�h�se sub�tances defined as toxic or hazardous substa.nces,pollutants,or wastes by Environmenta�Law and the fo��owing substa.nces: gasaline,kerasene,oth�r flammable or toxic petroleum products,toxic pesticides and herbicides,vo�ati�e solven�s, materials con�a�n�ng asbestos or formaldehyde,an�radioactive materia�s; (b} "En�ironmental Law"means federal laws and�aws of the jurisdiction where the Property is located that relate to health, safety or environmenta.l protection; �c) "Environmental�leanup" includes any response action,remedial actian,or remo�al actian,as defined in Environmenta�Law;and(d}an "Environmenta.l Condition"means a condition that can cause,contri�ute to,�r othe�-�vise�rigger an En�u-onmenta.l Cleanup. Borrower sha�1 not cause or permi�the presence,use, disposal, storage,or release of any Ha�ardous Substances,or threaten�o release any Hazardous Substancess on or in th�Property. Barro�ver sha11 not do, nor a�Iow anyone else to do,anything affecting the Property�a�that is in violation of any Enviranmental Law, �b}which creat�s an Envira�mental Conditian,or(c}wh�ch, due to th�presence, use,or release of a Hazardous Substance,creates a condition that ad�ersely affects the value of the Property. The preceding twa sentences sha11 not apply to the presence,use,or storage on the Property af FHA Deed of Trust With MERS-NE 9134l2414 Bankers SystemsT�+ VMP� VMP4N(NE}(1508}.44 Wolters Kluwer Financial 5ervices Page 13 af 17 q43359��31Q3 �233 419 1317