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99 107784
<br /> � Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action
<br /> by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or
<br /> Em�ironmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental
<br /> or regulatory authoriry, that any removal or other remediation of any Hazardous Substance affecting the Property is
<br /> necessary, Bonower shall prompdy take all necessary remedial actions in accordance with Environmental Law.
<br /> Borrower shall be solely responsible for, shall indemnify, defend and hold harmless Lender, its directors, officers,
<br /> employees, attorneys, agents, and their respective successors and assigns,from and against any and all claims,demands,
<br /> causes of action, loss, damage, cost (including actual attorneys' fees and court costs and costs of any required or
<br /> necessary repair, cleanup or detoxification of the Property and the preparation and implementation of any closure,
<br /> abatement, containment, remedial or other required plan), expenses and liability directly or indirectly arising out of
<br /> or attributable to (a) the use, generation, storage, release, threatened release, discharge, disposal, abatement or
<br /> presence of Hazardous Substances on, under or about the Property, (b) the transport to or from khe Property of any
<br /> Hazardous Substances, (c) the violadon of any Hazardous Substances law,and (d) any Hazardous Substances claims.
<br /> As used in this paragraph 20,"Hazardous Substances" aze those substances defined as toxic or hazardous substances
<br /> by Euvironmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products,
<br /> toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive
<br /> materials. As used in this pazagraph 20, "Environmental Law"means federal laws and laws of the jurisdiction where
<br /> the Property is located that relate to health, safety or environmental protection.
<br /> 21. Acceletarion; Remedies. Lender shall give nodce to Borrower prior to acceleration following Borrower's
<br /> breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17
<br /> unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the
<br /> default; (c) a date, not less than 30 days from the date the notice is given to Bonower, by wluch the default must be
<br /> eured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration
<br /> of the sums secured by this Security Instrument and sale of the Property. The notice shall fi�rther inform Bonower
<br /> of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default
<br /> or any defense of Bonower to acceleration and sale. If the default is not cured on or before the date specified in the
<br /> notice, Lender at its option may require immediate payment in full of all sums secured by this Securiry Instrument
<br /> without further demand and may iirvoke the power of sale and any other remedies permitted by applicable law. Lender
<br /> shall be entitled to collect all expenses incurred in pursuing the remedies pmvided in this paragraph 21,including, but
<br /> not limited to, reasonable attorneys' fees and costs of tifle evidence.
<br /> If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of the
<br /> Property is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and
<br /> to the other persons prescribed by applicable law. After the time required by applicable law,Trustee shall give public
<br /> notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Bonower,
<br /> shall sell the Property at public auction to the lughest bidder at the time and place and under the terms designated
<br /> in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all
<br /> or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender
<br /> or its designee may purchase the Property at any sale.
<br /> Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the
<br /> Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein.
<br /> Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and expenses of exercising the power
<br /> of sale, and the sale, including, without limitation, the payment of the Trustee's fees actually incurred, and reasonable
<br /> attorneys' fees as permitted by law;(b) to all sums secured by this Security Instrument; and (c) any excess to the person
<br /> or persons legally entitled to it.
<br /> 22. Reconveya�e. Upon payment of all sums secured by this Security Instn�ment, Lender shall request Trustee
<br /> to reconvey the Property and shall surrender this Securiry Instrument, the Note and all other notes secured by this
<br /> Securiry Instiument to Trustee. Trustee shall recom�ey the Property without warranky to the person or persons legally
<br /> entifled thereto. Such person or persons shall pay all forwarding fees imposed by L.ender, reconveyance fees imposed
<br /> by Trustee, and all costs relating to the recordation of the reconveya�ce of this Security Instnunent.
<br /> 23. Substid�te Trustee. Lender may, from kirue to tune, by instrument in wriking, substitute a successor or
<br /> successors to any Trustee named in the Security Instrument or acdng thereunder. Such instrument shall be executed
<br /> and aclmowledged by Lender and recorded in the office of the recorder of the county or counties where the Property
<br /> is situated and shall be conclusive proof of the proper substitution of such successor Trustee or Trustees. Such
<br /> successor Trustee or Trustees shall, without couveyance from the predecessor Trustee, succ.eed to all its title, estate,
<br /> rights, powers and duties. The procedure herein provided for substitudon of Trustees shall not be exclusive of other
<br /> provisions for substitukion permitted by law. The making of oath or giving of bond by Trustee or any successor Trustee
<br /> is hereby waived by Bonower.
<br /> 24. Request for Notices. Bonower requests that copies of the notices of default and sale be sent to Bonower's
<br /> address which is the Property Address.
<br /> 25. S� of Obligation T�ee. Lender may collect a fee equal to the maximum amount as may from time to
<br /> time be allowed by law for furnishing any statement of obligation, beneficiary's statement, beneficiary's demand or any
<br /> other statement regarding the condition of or balance owing under the Note or secured by this Security Instrument.
<br /> 26. Adjustable Int�st Rate. The Note contains provisions which provide for increases and decreases in the
<br /> interest rate and monthly payments. These provisions aze incorporated herein by this reference.
<br /> 27. Offsets. No indebtedness secured by this Security Instrument shall be deemed to have been offset or to be
<br /> offset or compensated by all or part of any claim, cause of action, counterclaim or crossclaim, whether liquidated or
<br /> unliquidated, which Bonower (or, subject to paragraph 17 of t,his Security Instrument, any successor to Borrower) now
<br /> or hereafter may have or may claim to have against Lender.
<br /> 28. Mis�epre.aentation and Nondisclosuce. Borrower has made certain written representations and disclosures in
<br /> order to induce Lender to make the loan evidenced by the Note or notes which this Security Instiument secures, and
<br /> in the event that Bonower has made any material misrepresentation or failed to disclose any material fact, Lender,
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