|
201808048
<br />remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed
<br />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
<br />Borrower does not repay the Loan as agreed. Borrower acknowledges and agrees that the Borrower
<br />is not a third party beneficiary to the contract of insurance between the Secretary and Lender, nor is
<br />Borrower entitled to enforce any agreement between Lender and the Secretary, unless explicitly
<br />authorized to do so by 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
<br />and the following substances: gasoline, kerosene, other flammable or toxic petroleum products,
<br />toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde,
<br />and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction
<br />where the Property is located that relate to health, safety or environmental protection; (c)
<br />"Environmental Cleanup" includes any response action, remedial action, or removal action, as
<br />defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can
<br />cause, contribute to, or otherwise trigger an 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
<br />violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which,
<br />due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely
<br />affects the value of the Property. The preceding two sentences shall not apply to the presence, use,
<br />or storage on the Property of small quantities of Hazardous Substances that are generally recognized
<br />to be appropriate to normal residential uses and to maintenance of the Property (including, but not
<br />limited to, hazardous substances in consumer products).
<br />Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand,
<br />lawsuit or other action by any governmental or regulatory agency or private party involving the
<br />Property and any Hazardous Substance or Environmental Law of which Borrower has actual
<br />knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking,
<br />discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by
<br />the presence, use or release of a Hazardous Substance which adversely affects the value of the
<br />Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any
<br />private party, that any removal or other remediation of any Hazardous Substance affecting the
<br />Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance
<br />with Environmental Law. Nothing herein shall create any obligation on Lender for an
<br />Environmental Cleanup.
<br />NEBRASKA - Single Family - FHA Security Instrument - MERS
<br />FORM 3028 9/14
<br />Laser Forms Inc. #FHA3028MERS 6/15 Page 12 of 14
<br />Initials • I ,0
<br />
|