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200305140
<br />response action, remedial action, or removal action, as defined in Environmental Law; and (d) an Environmental Condition
<br />means a condition that can 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 Hazardous Substances, or
<br />threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do,
<br />anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental
<br />Condition, or (c) which, 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, or storage on the Property
<br />of small quantilics of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to
<br />maintenance of the Property (including, but not limited to, hazardous substances in consumer products).
<br />Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by
<br />any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or
<br />Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to,
<br />any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the
<br />presence, use or release of a Hazardous Substance which adversely affects the value of the Property. if Borrower learns, or is
<br />notified by any governmental or regulatory authority, or any private party, that any removal or other remediation of any
<br />Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions In
<br />accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />22.Accelemdon; Remedies.Lender shall give notice in Borrower prior to acceleration following Borrowers
<br />breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18
<br />unless Applicable Law provides otherwise). The notice shall specify: (a) the defaulp (b) the action required to cum the
<br />default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default most be
<br />cured; and (d) that failure to cure the default on or before the date specified 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
<br />the right to reinstate after acceleration and the right to bring a court action to assert the non - existence of a default or
<br />any other defense of Borrower 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 Security Instrument
<br />without further demand and may invoke the power of sale and any other remedies permitted by Applicable law.
<br />Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22,
<br />including, but not limited m, reasonable aftomeys fees and costs of title evidence.
<br />If the power of sale is invoked, Tnrstce 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, Theme shall give
<br />public notice of sale to the persom and in the manner prescribed by Applicable Law. Tnsstee, without demand on
<br />Borrower, shall sell the Property at public auction in the highest bidder at the time and place and under the terms
<br />designated in the notice of sale in one or more parcels and in any enter Trustee determines. Theme may postpone
<br />sale of all or any parcel of the Property by public announcement at the time and place of any previously scheduled
<br />sale. lender or its designee may purchase the Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver in the purchaser Trustees deed conveying the
<br />Property. The recitals in the Trustees deed shall be prima facie evidence of the truth of the statements made therein.
<br />Tnrstee shall apply the proceeds of the sale in the following order. (a) to all costs and experees of exercising the power
<br />of sale, and the sale, including the payment of the T umscs fees actually incurred and reasonable attorneys fees in
<br />permitted by Applicable law; (b) to all shuns secured by this Security Instrument; and (c) any excess an the person or
<br />persons legally enfided to it
<br />23. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to
<br />reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security
<br />Instrument to Trustee. Trustee shall reconvey the Property without warranty to the person or persons legally entitled to it.
<br />Such person or persons shall pay any recordation costs. Lender may charge such person or persons a fee for reconveying the
<br />Property, but only if the fee is paid to a third party (such as the Trustee) for services rendered and the charging of the fee is
<br />permitted under Applicable Law.
<br />24.Subsfitum Trustee. Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to
<br />any 'Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is recorded.
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<br />ITEM 1915L10(onn (Page 10.17 11 pages) T.0N.,C.sI 8W5 M93,.v 616 -]91 -1131
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