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99111774
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Last modified
3/13/2012 8:24:31 PM
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10/21/2005 1:43:07 AM
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DEEDS
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99111774
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99. 1Y �7.'�J4. � � � : � �. � +s �.° <br /> 17.Transfer of the Property or a Beneficial Interest in Borrower.If all or any part of the Property or any interest in <br /> it is sold or ttansferred(or if a beneficial interest in Bortower is sold or transferred and Borrower is not a natural person) <br /> without Lender's prior written consent,Lender may, at its option,require immediate payment in full of all sums secured by <br /> this Security Instrument.However, this option sha11 not be exercised by Lender if exercise is prohibited by federal law as of <br /> the date of this Security Instrument. <br /> ff Lender exercises this option,Lender shall give Borrower notice of acceleration.The notice shall provide a period of <br /> not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all swns secured by this <br /> Security Instrument.If Borrower fails to pay these sums prior to the expiration of this period,Lender may invoke any remedies • <br /> permitted by this Security Instrument without further notice or demand on Borrower. <br /> 18.Borrower's Right to Reinstate. If Bortower meets certain conditions, Borrower shall have the right to have <br /> enforcement of this Securiry Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as <br /> applicable law may specify for reinstatement)before sale of the Property pursuant to any power of sale contained in this <br /> Security Instrument; or (b) entry of a judgment enforcing this Securiry Instrument. Those conditions are that Bortower: (a) <br /> pays Lender a11 sums which then would be due under this Securiry Instrument and the Note as if no acceleration had occurred; <br /> (b) cures any default of any okher covenants or agreements; (c) pays all expenses incurred in enfarcing this Security <br /> Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably <br /> require to assure that the lien of this Securiry Instrument,Lender's rights in the Property and Borrower's obligation to pay the <br /> sutns secured by this Secur�ry Instrument shall continue uncbanged.U�ron reinstatement by Borrower,this Security Instrument <br /> and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to <br /> reinstate shall not apply in the case of accelerationunder paragraph 17. <br /> 19.Sale of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security <br /> Instnunent) may be sold one or more times without prior notice to Bonower. A sale may result in a change in the entity <br /> (known as the "Loan Servicer") that collects monthly payments due under the Note and this Security Instniment. There also <br /> may be one or more changes of the Loan Servicer unrelated to a sale of the Note. ff there is a change of the Loan Servicer, <br /> Borrower will be given written notice of the change in accordance with paragraph 14 above and applicable law. The notice <br /> will state the name and address of the new Loan Servicer and the address to which payments should be made.The notice will <br /> also contain any other information required by applicable law. <br /> 20.Hazardous Substances.Borrower shall not cause or permit the presence,use, disposal, storage, or release of any <br /> Hazardous Substances on or in the Ptoperly. Bortower sha11 not do, nor allow anyone else to do, anything affecting the <br /> Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence,use,or <br /> storage on the Property of sma11 quantities of Hazardous Substances that are generally recognized to be appropriate to normal <br /> residential uses and to maintenance of the Property. <br /> Borrower shall promptly give Lender written notice of any investigation,claim,demand,lawsuit or other action by any <br /> governmental or regulatory agency or private parry involving the Property and any Hazardous Substance or Environtnental <br /> Law of which Borrower has actual knowledge.If Borrower learns,or is notified by any governmental or regulatory authority, <br /> that any removal or other remediation of any Hazardous Substance affecting the Ptoperty is necessary, Borrower shall <br /> promptly take all necessary remedial 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 <br /> pesticides and herbicides,volatile solvents,materials containing asbestos or formaldehyde,and radioactive materials.As used <br /> in this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that <br /> relate to health,safety or environmental protection. <br /> NON-UNIFORM COVENANTS.Borrower and Lender further covenant and agree as follows: <br /> 21.Acceleration;Remedies. Lender shall give notice 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 Borrower, by which the default must be <br /> cured; and (d) that failure to cure the default on or before the date specifed in the notice may result in acceleration of <br /> the sums secured by this Security Instrument and sale of the Property.The notice shall further inform Borrower of the <br /> right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any <br /> other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specifed in the <br /> notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument <br /> without further demand and may invoke 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 provided in this paragraph 21,including,but <br /> not limited to,reasonable attorneys'fees and costs of title evidence. <br /> Page 5 of 7 NE-2079-0699 <br /> ii <br />
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