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20031075 Loan No. 0107310306
<br />15. Governing Law; Severability. This Security Instrument shall be governed by federal law of the jurisdiction in which
<br />the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable
<br />law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the
<br />conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable.
<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
<br />or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's
<br />prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument.
<br />However,this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not
<br />less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security
<br />Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted
<br />by this Security Instrument without further notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement
<br />of this Security Instrument discontinued at any time prior to the earlier of : (a) 5 days ( or such other period as applicable law may
<br />specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b)
<br />entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then
<br />would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other
<br />covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument,including,but not limited to,reasonable
<br />attomeys'fees;and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's
<br />rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged.
<br />Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if
<br />no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 17.
<br />19. Sale of Note; Change of Loan Servicer.The note or a partial interest in the Note ( together with this Security Instrument)
<br />may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity ( known as the "Loan
<br />Servicer") that collects monthly payments due under the note.If there is a change of the Loan Servicer,Borrower will be given written
<br />notice of the change in accordance with paragraph 14 above and applicable law. The notice will state the name and address of the
<br />new Loan Servicer and the address to which payments should be made. The notice will also contain any other information required
<br />by applicable law.
<br />20. Hazardous Substances.Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous
<br />Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in
<br />violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of
<br />small quantities of Hazard Substances that are generally recognized to be appropriate to normal residential uses and to maintenance
<br />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 regulator agency or private party involving the Property and any Hazardous Substance or Environmental Law of which
<br />Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that any removal or
<br />other remediation of any Hazardous Substance affecting the Property is necessary,Borrower shall promptly take all necessary remedial
<br />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 pesticides
<br />and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph
<br />20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or
<br />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 breach of
<br />any covenant or agreement in this Security Instrument ( but not prior to acceleration under paragraphs 17 unless applicable law
<br />provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than
<br />30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on
<br />or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the
<br />Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action
<br />to assert the non - existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or
<br />before the date specified in the notice,Lender at its option may require immediate payment in full of all sums secured by this Security
<br />Instrument 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 pumping the remedies provided in this paragraph 21, including, but not limited
<br />to, reasonable attorneys' fees and costs of title evidence.
<br />If the power of sale is invoked, Trustee shall execute a written notice of the occurrence of an event of default and of election
<br />to cause the Property to be sold and shall record such notice in each county in which any part of the Property is located. Lender or
<br />Trustee shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed
<br />by applicable law. After the time required by applicable law, Trustee, without demand on Borrower, shall sell the Property at public
<br />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
<br />in any order Trustee determines. Trustee may in accordance with applicable law, postpone sale of all or any parcel of the Property
<br />by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at
<br />any sale.
<br />Trustee shall deliver to the purchaser Trustee's deed conveying the Property without any covenant or warranty, expressed or
<br />implied. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall
<br />apply the proceeds of the sale in the following order: (a) to all expenses of the sale,including, but not limited to, reasonable Trustee's
<br />and attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled
<br />to it or to the clerk of the county in which the sale took place.
<br />22. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to reconvey the
<br />Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee.
<br />Trustee shall reconvey the Property without warranty to the person or persons legally entitled to it. Such person or persons shall pay
<br />any recordation costs.
<br />23. Substitute Trustee. Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to any
<br />Trustee appointed hereunder. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and
<br />duties conferred upon Trustee herein and by applicable law.
<br />Form 3028 9/90
<br />p, '� PAGE 4 of 5 HP -828 2/93
<br />Printed on Laser byQ LOAnN 4PXE` , Buena Park, CA 90621 Ph: (714) 994 -2121
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