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200313044
<br />Loan Number: 521012475 Servicing Number: 001184231 -7 Dam: 09/25/03
<br />removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all
<br />necessary remedial actions in accordance with Environmental law.
<br />Borrower shall be solely responsible for, shall indemnity, defend and hold harmless Lender, its directors, officers,
<br />employees, attorneys, agents, and their respective successors and assigns, from and against any and all claims, demands, causes
<br />of action, loss, damage, cost (including actual attorneys' fees and court costs and costs of any required or necessary repair, cleanup
<br />or detoxification of the Property and the preparation and implementation of any closure, abatement, containment, remedial or other
<br />required plan), expenses and liability directly or indirectly arising out of or attributable to (a) the use, generation, storage, mime,
<br />threatened mime, discharge, disposal, abatement or presence of Hazardous Substances on, under or about the Property, (b) the
<br />transport to or from the Property of any Hazardous Substances, (c) the violation of any Hazardous Substances law, and (d) my
<br />Hazardous Substances claims.
<br />As used in this paragraph 20, "Hazardous Substances' sure those substances defined n 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 mlate to health, safety
<br />or environmental protection.
<br />ADDITIONAL COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />21. Accelerad =; Remedies. H my inalallmentunder the Note or notes seared hereby is not paid wbm due, "if Borrower
<br />should be in default under any provision of this Security Instrument, or if Borrower is in default under any other deed of tout or
<br />other instrument secured by the Property, all sums accused by this Security Instrument and accrued interest thereon shall at once
<br />become due and payable at the option of Lender without prior notice, except as otherwise required by applicable law, and regardless
<br />of my prior forbearance. In such event, lender, at its opt ion, and subject to applicable law, may then or thereafter invoke the power
<br />of ale and/or any other remedies or take any other acUOro permitted by applicable law. Lender will culled all expenses incurred
<br />in pursuing the remedies described in this Paragraph 21, including, but not limited to, reasonable moneys' fns and costa of tide
<br />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 Property
<br />is located and shall mail copes of such mime in the mauner prescribed by applicable law to Borrower and to the other persons
<br />presedbed by applicable law. After the time mqudred by applicable law, Trustee shall give public notice of sale to the persons said
<br />in the manner prescribed by applicable bow. Trustee, without demand on Borrower, shall sell the Property at public auction to the
<br />how bidder at the time and place and under the terms designated in the notice of sale in one or mute parcels and in any order
<br />Trustee determires. Trustee may postpone We of all or my parcel of the Property by public aomumcemmt at the time and place
<br />of any previously scheduled sale. Lender or in desigove may purchase die Property at my sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed cmveying the Property.
<br />The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the
<br />proceeds of the sale in die following order. (a) to all costs and expenses of exercising the power of sale, and the sale, including
<br />the payment of the Trusdce'a fees acridly incurred, not to exceed 1.5 % of the principal amount of the note at tie time of
<br />the declaration of default, and reasonable ammrya' fen as permitted by law; (b) to all sums secured by this Security Instrument;
<br />and (c) my cinesa to the person or persons legally entitled to it.
<br />22. Reconveyarax:. Upon payment of all sums secured by this Security Instrument, Lender shall release this property
<br />without warranty to the person or persons legally entitled to it. Such person or persons shall pay my recordation costs. Lender may
<br />charge such person or persons a fee for releasing the Property for services rendered if the charging of the fee is permitted under
<br />applicable law.
<br />23. Substitute Trustee. Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to my
<br />Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is recorded. Without
<br />conveyance of the Property, the successor trustee shall succeed to all the tide, power and duties conferred upon Trustee herein and
<br />by applicable law.
<br />24. Request for Notice. Borrower requests that copies of the notices of default and sale be sent to Borrower's address
<br />of which is the Property Address.
<br />25. Misrepreamdation and Nondisclosure. Borrower has made certain written representations and disclosures in order to
<br />induce Lender in make the loan evidenced by the Now or notes which this Security Instrument secures, and in the event that
<br />Borrower has made any material misrepresentation or failed to disclose my material fact, Lender, at its option and without prior
<br />notice or demand, shall have the right to declare the indebtedness secured by this Security Instrument, irrespective of the mmnhY
<br />date specified in the Note or notes secured by this Security Instrument, immediately due and payable. To the extent permitted by
<br />applicable law, Trustee, upon presentation to it of an affidavit signed by Lender setting forth facts showing a default by Borrower
<br />under this paragraph, is authorized to accept as true and conclusive all facts and statements therein, and to act thereon hereunder.
<br />26. Time is of the Essence. Time is of the essence in the performance of each provision of this Security Instrument.
<br />27. Waiver of Statute of Limitations. The pleading of the stamen of limitations as a defense to enforcement of this Security
<br />Instrument, or my and all obligations referred to herein or secured hereby, is hereby waived to the fullest extent permitted by
<br />applicable law.
<br />28. Modification. This Security Instrument may be modified or amended only by an agreement in writing signed by
<br />Borrower and lender.
<br />29. Reimbursement. To the extent permitted by applicable law, Borrower shall reimburse Trustee and Lender for my and
<br />all costs, fees and expenses which either may incur, expend or sustain in the execution of the trust created hereunder or in the
<br />performance of my act required or permitted hereunder or by law or in equity or otherwise arising out of or in connection with
<br />this Security Instrument, the Note, any other note secured by this Security instrument or any other instrument executed by Borrower
<br />in connection with the Note or Security Instrument. To the extent permitted by applicable law, Borrower shall pay to Trustee and
<br />Lender their fees in connection with Trustee and Lender including, but not limited to assumption application fees; fees for payoff
<br />demands and, statements of loan balance; fees for making, transmitting and transporting copies of loan documents, verifications,
<br />full or partial lien reconveyance and other documents requested by borrower or necessary for performance of Lender's rights or
<br />duties under this Security Instrument; fees arising from a returned or dishonored check; fees to determine whether the Property is
<br />occupied, protected, maintained or insured or related purposes; appraisal fees, inspection fees, legal foes, broker fees, insurance
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