99106486 - Laserfiche WebLink

Browse

. 06%21/99 MON 13:25 FAX 704 679 4500 EQUIFIRST [�007 99 106 � 86 that any removal or other reraediation df uly Ha�ardous Sub�tance Affecting the Praperty is nccessary, Boaower shall prompdy take all necessary remadia]xctions in accordancc with Enviranmental Law. As used in this paragraph 20, "Hazardous Subst�ncos"are those subst�nces defined as toxic or hazardous substances by Environmenttll Law ond the following substances: ga�ollne, kcrasene, othcr Flammable or toxie pcUOleum producta, toxie pesdcidts and herbicides.volt�tile�o)vents,materials can�ining a�bc�tito5 or form�ldehyde,and radioactivc materials. Aa used in this paragraph 20, "Environmental Law"means federal laws nnd]aws of the jurisdiction where the Property is located that relate to health,safcty or environmental protection. NON-UMFORM COVENAN'TS.Borrower ru►d Lender further covenant and agrce ds follows: 2x. Acceleration; Remedies, Lender shall give notice tc, l3orrower prior to acceteration following Borrnwer's broach oF any covenunt or sgreement in this Security tnstrument(hut not priur ta acceleration under para�;raph !7 uNese appiicable law provides otherwisc).The notfcc shall specify: (a) the defa�lt; (b) tho acdon required to cure the detault; (c)a �ate,not less thxn 30 days frum tlte date the notice js given to�iorrower,by wh�ch tl�e defuult must be eured;and(d) rhat failure tq cure the default on or before ihe date speeEf'ied in the notiee may result rn acceleradon of the sums secured by Wis Security Ynstrurnent and�;ale oP the property.The notice shail further inform.Borrower of the right to reinstate aCter Acceleration and the riglit to bring a rnurt sction to assert the non-existetiee of a default or auy other defense oF Bor�rower to acceleration and sale.If th� default is not curccY un ar bePore the date speciCed in the notice, Lender dt its optton m0.}+ require irnmedfxi�puyment ftt Cull of all sums secured by this Security Ynstrument without furthvr�letnand and may invoke the power of sale and any other remedies permitted by applicable Iaw.Lender shall b�entitled to collect all expenses incurred in pursufng the remedies p�ovided fn this paragraph 21,including,but nat limited to,reasoneble attorneys'Pees and costs of title evidenc�e, If the power of sale ts i�voked,Trustee sUall record a notice of default in each county in whpch any part of the Property is locate��nd shall mail copies of such nodee�n the munner prc�c�ibed by applir.abte taw to Bor�ower end to the other persons prescribed by app[ICable law. AYt�r the time requi�ed by applicubio law, xrustee shall giWe pvblic notice of sele to the persons and tn tlie manner prescribed by applicable law.Trustee,wlthaut demand on Borrower, shull sell the Property at public auction to the l�ighest bidder at the time And pYace and under the terms desi�tated� the notfce pt'sale in one or more parcels and in ahy order Truste�deteruiines.Trustee may pcu�ipone sale of all or any parcet of the Property by public announcemeat at the time and place af any previpu�ly sel�eduled sa[e.Lender or its designee m�y purchase the Property at any sale. Upon receipt of payment of the price bid, Trustee shull deiiver to the p►irchaser Trustce's deed conveyin�the �'ruperty.The recitale in the'�Yustce's deed sl�all l�e prima facie eWidencc of the trukh of the statements made therein. Trustee shali apply the proceeds of the sale in the fallowfng urder:(a)to all cosfs and expenses of axercising the power of ssl�,an�d the sale,includin�the�yment of the Trustee'�Fees actuslly incurred,not to excecd % of khe Principal arnouut oT the note at the time of the declaration ot'default,and reasanable attarneys' fees as permxtted by law;(b)to ull sums secured by this Security Instrument;and(c)any excess to the person or persons legr�lly entitled to!t. 22. Reconveyance. Upon payment of nll sums securcd by this Securicy insti�ument, Lender shall requwt Trustee to reconvey [he Properry and shall surrencler this 5ecurity Tnstivmant and alI notes evidencing debt secured by this Security Instrument ta'�rustce. Trustee bhall reconvey the Property without warranty aiid without charge to the person or persons leg�l2y entitled to iG Such perspn or persons sha)1 pay any rccordation eosts. 23. Substitute Trustee. Ler,der,at its opdon,may from timc to time remove Trustee aad appoint a succeasor Wstea to any Trustee appointed hercunder by an instrument recqrded in the cc�unty in which this 5ecurity Inbtrument la rccorded. Without conveyanec of the Property, tho sueecs�or trustee shall succecd ca all the title, power and duties eonfe�red upon Trustee herein and by app�icsble 1aw, 24• �equest for Nottces. Borrower requcsts that copias of khe nodcc:s of default and sale be sent to �orrower's address which is the Froptrty�ddress. (Pa�,�rGufX ppk�,�)