|
200542495
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred
<br />(or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) unless the Note shows that Borrower's loan is
<br />assumable, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be
<br />exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If the Note shows that Borrower's loan is
<br />assumable, Borrower must obtain Lender's written permission for an assumption and follow any other requirements of Lender related to an assumption. If
<br />Borrower does not do so, Lender may require immediate payment in full of all sums secured by this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from
<br />the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these
<br />sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on
<br />Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security
<br />Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of
<br />the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those
<br />conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had
<br />occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but
<br />not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument,
<br />Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon
<br />reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred.
<br />However, this right to reinstate shall not apply in the case of acceleration under paragraph 17.
<br />19. Sale of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security Instrument) may be sold one
<br />or more times without prior notice to Borrower. A sale may result in a change in the entity (known as the "Loan Servicer ") that collects monthly payments
<br />due under the Note and this Security Instrument. There also may be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a
<br />change of the Loan Servicer, 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 also contain any other
<br />information required by applicable law.
<br />20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on
<br />or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmental Law.
<br />The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are
<br />generally recognized to be appropriate to normal 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 governmental or regulatory
<br />agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower
<br />learns, or is notified by any governmental or regulatory authority, that any removal or other remediation of any Hazardous Substance affecting the
<br />Property is necessary, Borrower shall 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 Environmental Law and
<br />the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials
<br />containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 20, "Environmental Law" means federal laws and laws of the
<br />jurisdiction where the Property is located that relate to health, safety or environmental protection.
<br />21, Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant
<br />or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless applicable law provides otherwise). The
<br />notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is
<br />given to Borrower, by which the default must be cured; and (d) that failure to cure the default an or before the date specified in the notice
<br />may result in acceleration of the sums secured by this Security Instrument, and sale of the Property. The notice shall further inform
<br />Borrower of the 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 specified in the notice, Lender at its
<br />option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the
<br />power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the
<br />remedies provided in this paragraph 21, including, but not limited to, reasonable attorneys' fqm and costs of title evidence.
<br />By initialing, I acknowledge this is page 5 of 6
<br />of the Deed of Trust. 1rl,lsln t,;r;�t� 1n. +i�lc In. +�t�
<br />© Copyright Compliance Systems, Inc. 1993, 1994, 1995, 1997, 1999 Compliance Systems, Inc.
<br />ITEM 121 NEL5 (99O2A) Page 5 of 6 To Order: Call 800,9688522 Fax 616,9561868
<br />
|