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200312711
<br />any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an
<br />"Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an
<br />Environmental Cleanup.
<br />Borrower shall not cause or permit the presence, use, disposal, storage, or release of any
<br />Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower
<br />shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any
<br />Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence,
<br />use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the
<br />Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of
<br />small quantities of Hazardous Substances that are generally recognized to be appropriate to normal
<br />residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in
<br />consumer products).
<br />Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand,
<br />lawsuit or other action by any governmental or regulatory agency or private party involving the Property
<br />and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any
<br />Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat
<br />of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a
<br />Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified
<br />by any governmental or regulatory authority, or any private party, that any removal or other remediation
<br />of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all
<br />necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any
<br />obligation on Lender for an Environmental Cleanup.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration
<br />following Borrower's breach of any covenant or agreement in this Security Instrument (but not
<br />prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall
<br />specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days
<br />from the date the notice is given to Borrower, by which the default must be cured; and (d) that
<br />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
<br />inform Borrower of the right to reinstate after acceleration and the right to bring a court action to
<br />assert the non - existence of a default or any other defense of Borrower to acceleration and sale. If
<br />the default is not cured on or before the date specified in the notice, Lender at its option may
<br />require immediate payment in full of all sums secured by this Security Instrument without further
<br />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
<br />Section 22, 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
<br />which any part of the Property is located and shall mail copies of such notice in the manner
<br />prescribed by Applicable Law to Borrower and to the other persons prescribed by Applicable Law.
<br />After the time required by Applicable Law, Trustee shall give public notice of sale to the persons
<br />and in the manner prescribed by Applicable Law. Trustee, without demand on Borrower, shall sell
<br />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.
<br />Trustee may postpone sale of all or any parcel of the Property by public announcement at the time
<br />Form 3028 1 /01
<br />Page 14 of 16
<br />Initials:
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