200207114 - Laserfiche WebLink

Browse

200207114 by any governmental or regulatory authority, or my private parry, that arty removal or other rrmediation Of any Hmardous Substance affecting the Property is necessary, Burrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON - UNIFORM COVENANTS. Borrower and holder further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section IN unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action rW uured to cure the default; (c) a date, not leis than 30 days from the date the notice is given to Borrower, by which the default must he cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Burrower of the right to reinstate after acceleration and the right to bring a court action to assert the nonexistence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not Iimitert to, reasonable attorneys' fees and costs of title evidence. If the Power of sale is invoked, Trustee shall turned a notice of default in each county in which any part of the property is Inalal and shall mail copies of such notice in the manner prescribed by Applicable Law to Borrower and to the other persons prescribed by Applicable Law. After the time required by Applicable Law, Trustee shall give public notice of sale to tine persons and in the manner prescribed by Applicable Law. 'Trustee, without demand on Borrower, shall sell The Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee dNermines. 'Trustee may postpone ale at all or any parent of tine Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale. Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser'I'rustee's deed conveying the property. The recitals in the 'I'ruster's daH shall be prima facie evidence of the truth of the statements matte therein. Truster shall apply the proceeds of the sale in the following order: (a) to all costs and expenses of exercising the power of sale, and the sale, including the payment of the 'frusta's fees actually incurred and reasonable attorneys' fees as permitted by Applicable Law; (b) to all sums seeureH by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Rec v vane. Upon payment of all s ured by this Suavity Instrument, Lender shall request Trustee to r eon vey the Property and shall surrender this Security Instrument and all notes evidencing debt savred by this Security Instrument to 'trustee. Trustee shall reconvey the Property without warranty to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. Leader may charge such person or persons a fee for reconveying the 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 permitted under Applicable Law. 24. Substitute Trustee. Lender, at its option, may train time to time remove Trustee and appoint a successor trustee to any Trustee appointed hereunder by an insumnan recorded in the county in which this Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the tide, power and duties conferred upon Trusmc herein and by Applicable Law. 25_ Request for Notices. Borrower requests that copies of the notice of default and sale be sent to Borrower's address which is the Properly Address. mw.GAY� (M GGINFa moos rwc13'1 6 Form 3025 Vnt u� t