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'• . 1�4913
<br /> • ' + + �99 - Loan No. 25433
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<br /> " • • '15. Govemii�g Law;•Severab�ity. �'his Security Instrument shall be governed by federal law of the jurisdiction in which
<br /> the Property is located. In th�e`vent that any provision or clause of this Security Instrument or the Note conflicts with applicable
<br /> law, such conflict shall not affect other provis�pns of this Security Instrument or the Note which can be given effect without the
<br /> conflicting provision.To this end the provisions of this Security Instcument and the Note are declared to be severable.
<br /> 16. Borrowet's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br /> 17. Transfer of the Property or a Beneficial Intenest in Bormwer. If all or any part of the Property or any interest in it is sold
<br /> or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's
<br /> prior written consent, Lender may, at its option,require immediate payment in full of all sums secured by this Security Instnunent.
<br /> However,this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument.
<br /> If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not
<br /> less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security
<br /> Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted
<br /> by this Security Instrutnent without further notice or demand on Borrower.
<br /> 18. Borrowet's R�ght to Reinstate. If Borrower meets certain conditions,Borrower shall have the right to have enforcement
<br /> of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days(or such other period as applicable law may
<br /> specify for reinstatement)before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b)
<br /> entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then
<br /> would be due under this Security Insuument and the Note as if no acceleration had occurred;(b)cures any default of any other
<br /> covenants or agreements;(c)pays all expenses incurred in enforcing this Security Instrument,including,but not limited to,reasonable
<br /> attorneys'fees;and(d)takes such action as Lender may reasonably require to assure that the lien of this Security Instrument,Lende�'s
<br /> rights in the Property and Bonower's obligation to pay the sums secured by this Security Instrument shall continue unchanged.
<br /> Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if
<br /> no acceleration had occurred.However,this right to reinstate shall not apply in the case of acceleration under paragraphs 17.
<br /> 19. Sale of Note;Change of Loan Servicer.The note or a partial interest in the Note(together with this Security Instrument)
<br /> may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity(known as the "Loan
<br /> Servicer")that collects monthly payments due under the note.If there is a change of the Loan Servicer,Borrower will be given written
<br /> notice of the change in accordance with paragraph 14 above and applicable law.The notice will state the name and address of the
<br /> new Loan Servicer and the address to which payments should be made.The notice will also contain any other informarion required
<br /> by applicable law.
<br /> 20.Hazardous Sub�tanoes.Borrower shall not cause or permit the presence,use,disposal,storage,or release of any Hazardous
<br /> Substances on or in the Property. Borrower shail not do, nor allow anyone else to do, anything affecting the Property that is in
<br /> violation of any Environmental Law.The preceding two sentences shall not apply to the presence,use,or storage on the Property of
<br /> small quantities of Hazard Substances that are generally recognized to be appropriate to normal residential uses and to maintenance
<br /> of the Property.
<br /> Borrower shall prompdy give Lender written notice of any investigation, claim, demand, lawsuit or other action by any
<br /> govemmental or regulator agency or private pariy involving the Properiy and any Hazardous Substance or Environmental Law of which
<br /> Borrower has actual knowledge.If Borrower learns, or is notified by any governmental or regulatory authority, that any removal or
<br /> other remediation of any Hazardous Substance affecting the Property is necessary,Borrower shall prompdy take all necessary remedial
<br /> actions in accordance with Environmental Law.
<br /> As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by
<br /> Environmental Law and the following substances:gasoline,kerosene.other flammable or toxic petroleum products,toxic pesticides
<br /> and herbicides,volatile solvents,materials containing asbestos or formaldehyde,and radioactive materials.As used in this paragraph
<br /> 20,"Environmental Law"means federal laws and laws of the jurisdiction where the Property is located that relate to health,safety or
<br /> environmental protection.
<br /> NON-UNIFORM COVENANTS.Borrower and Lender further covenant and agree as foliows:
<br /> 21. Acceleration; Remedies. Lender shall give �tice to Borrawer prior to aooeleration following Borrower's baeach of
<br /> any covet�ant or a�ent in this Security Inshwneat(but not pri�or to aooe,leration under paragraphs 17 unless applicable law
<br /> provides otherwise). The notice shall specify: (a) the default,' (b) the action required to cure the default;(c)a date,not less than
<br /> 30 days hom the date the notice is givea to Borrower,by which the default must be cured;and(d)that fa�ure to cure the default on
<br /> or before the date speci6ed in the notice may result in acceleration of the sums secured by this Security Inshva�ent and sale of the
<br /> Property.The notice shall further inform Bornower of the right to reinstate after acceleration and the right to bring a court action
<br /> to assert the non-ezistence of a default or any other defense of Borrower to aoceleratian and sale. ff the default is not cttred on or
<br /> before the date specified in the notice,Lender at its oPt�on maY re4uire imnlediate paymeat in full of all sums secured by this Security
<br /> Ins�t without further demand and may im�olce the pawer of sale and any other remedies permitted by applicable law. Leoder
<br /> shall be entitled to collect all expenses incurred in pursuiag the remedies provided in this P�SmPh 21, includi�g, but not limited
<br /> to,reasonable attorneys'fees and costs of title ev�denoe.
<br /> If the power of sale is in�oked,Trustee shall ezecute a writtea notice of the occ�ui+ence of an event of default and of election
<br /> to cause the Property to be sold and shall nemrd such notice in each county in which a�►part of the Property is located.Lender or
<br /> Trustee shall ma�oopies of such notice in the manner prescn'bed by applicable law to Borrower and to the other persons prescn'bed
<br /> by applicable law.After the tim�e required by applicable law,Trustee,without demand on Borrower,sball sell the Property at public
<br /> auction to the highest bidder at the tiube and plaoe and under the terms designated in the notice of sale in one or more pance,ls and
<br /> in any order Trustee determines.Trustee may in acoordanoe with applicable law,poBtpone sale of all or any pamel of the Property
<br /> bY Public announce�nent at the time and place of any pneviously scbeduled sale.Lender or its desi,gnee maY Purc]�se the Preperty at
<br /> any sale.
<br /> Trustee sball deliver to th�e pum.�aser Trustee's deed conveyi�g the Properly without any cavenant or warranty,expressed or
<br /> implied. The secitals in the Trustee's deed shall be prima facie evidence of the tiuth of the statemeats made therein. Trustee shall
<br /> apply the proceeds of the sale in the followin,g order:(a)to all expenses of the sale,including,but not limited to,reasonable Trustee's
<br /> and attorneys'fees; (b)to all sums secured by this Security Iast�ument; and (c)any excess to the Pe�on rn'Persons leS�11Y entitled
<br /> to it or to the clerk of the�unty in which the sale took place.
<br /> 22. Rernnveyanoe.Upon payment of all sums secured by this Security Instrument,Lender shall request Trustee to reconvey the
<br /> Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee.
<br /> Trustee shall reconvey the Property without wananty to the person or persons legally entitled to it.Such person or persons shall pay
<br /> any recordation costs.
<br /> 23. Substitute Tn�stee. Lender, at its option, may from time to time remove Trustee and appoint a successor ttvstee to any
<br /> Trustee appointed hereunder. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and
<br /> duties conferred upon Trustee herein and by applicable law.
<br /> Form 3028 8/90
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