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200306652
<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 F.nvirounsaaal Cleanup,
<br />Borrower shall not cause or perutil 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 my Environmental Law, (b) which creates an Environmental
<br />Condition or (c) which, due to tiuc 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 quantities 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 a lornim 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 />Euvimnmental Law of which Borrower has actual knowledge, bo any Environmental Condition, including but not limned to,
<br />any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by tine
<br />presence, use or release of it Hazardous Substance which adversely affects the value of the Property. If Borrower leams, or is
<br />notified by any governmental or regulatory authority, or any private party, that any removal or other renieducion of any
<br />Hazardous Substance affecting the Property is neecssary, Burrower 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 hurdler covenant and agree as follows:
<br />22. Acceleration; Remedies. Lender shall give notice to Burrower prior to acceleration following Borrower's
<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 default; (b) the action required to cure the
<br />default; (e) a date, not less than 30 days from the dale 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 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 Burrower 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 to, reasonable attorneys' fees and costs of title 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
<br />public notice of sale to the persons and In the manner prescribed by Applicable Law. Trustee, without demand on
<br />Borrower, shall sell the Property at public auction to 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 order Trustee determines. Trustee 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 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 the payment of the Trustee's fees actually incurred and reasonable attorneys' fees as
<br />permitted by Applicable Law; (b) to all sums secured by this Security Instrument; and (c) any excess to 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 Secunty
<br />Inslroucat to Trustee. Trustee shall reconvey the Property without warranty to the permit 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 to.11veying the
<br />Property, but only if the fee is paid to a third party (such as the Trustee) for services Tendered and the charging of the fee is
<br />permitted under Applicable Law_
<br />24. Substitute Trustee. Lender, at its option, may from tittle 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.
<br />NR1RAS1sA- 9lugle Frmrlly FennteMae/Freddie Mae IJNIFORMINSTRUMEN'1 Form J0281 /01
<br />ro FJTtAlm
<br />ITEM IBI6Ln0(OUII) (Pq,,10 of 11 (Wg¢S) To Order 0ell 1 000 630 9393 O Fax '610791 -1191
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