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and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser.
<br />20. Borrower Not Third -Party Beneficiary to Contract of Insurance. Mortgage Insurance
<br />reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does
<br />not repay the Loan as agreed. Borrower acknowledges and agrees that the Borrower is not a third party
<br />beneficiary to the contract of insurance between the Secretary and Lender, nor is Borrower entitled to
<br />enforce any agreement between Lender and the Secretary, unless explicitly authorized to do so by
<br />Applicable Law.
<br />21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those
<br />substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and
<br />the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic
<br />pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and
<br />radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the
<br />Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup"
<br />includes any response action, remedial action, or removal action, as defined in Environmental Law; and
<br />(d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an
<br />Environmental Cleanup.
<br />Borrower shall not cause or permit the presence, use, disposal, storage, or release of any
<br />Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property.
<br />Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation
<br />of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the
<br />presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value
<br />of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the
<br />Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to
<br />normal residential uses and to maintenance of the Property (including, but not limited to, hazardous
<br />substances in consumer products).
<br />Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit
<br />or other action by any governmental or regulatory agency or private party involving the Property and any
<br />Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any
<br />Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of
<br />release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a
<br />Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified
<br />by any governmental or regulatory authority, or any private party, that any removal or other remediation of
<br />any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary
<br />remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on
<br />Lender for an Environmental Cleanup.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration
<br />following Borrower's breach of any covenant or agreement in this Security Instrument (but not
<br />prior to acceleration under Section 17 unless Applicable Law provides otherwise). The notice
<br />shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30
<br />days from the date the notice is given to Borrower, by which the default must be cured; and (d)
<br />that failure to cure the default on or before the date specified in the notice may result in
<br />acceleration of the sums secured by this Security Instrument and sale of the Property. The notice
<br />shall further inform Borrower of the right to reinstate after acceleration and the right to bring a
<br />court action to assert the non - existence of a default or any other defense of Borrower to
<br />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
<br />Instrument without further demand and may invoke the power of sale and any other remedies
<br />perm tted by Appl cable Law. Lender shall be entitled to collect a I expenses incurred in pursuing
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<br />Mortgage Cadence Documen Cen er © 3600 08/ 5 Page 11 of 13 Published September 2014
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