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200511510
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Last modified
11/21/2005 3:09:46 PM
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11/21/2005 3:09:44 PM
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DEEDS
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200511510
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<br />200511510 <br /> <br />DOC ID #: 00012145208910005 <br />Borrower shall promptly give Lender written notice of (a) any invelltigation, claim, demand, lawsuit or <br />other action by any governmental or regulatory agency or private party involving the Property and any <br />Hazardous Substance or Environmental Law of which Borrower has actual knowledge. (b) any Environmental <br />Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any <br />Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance <br />which adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or <br />regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance <br />affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance <br />with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. <br /> <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 following <br />Borrower's breach of any covenant or agreement In this Security Instrument (but not prior to <br />acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall .peclfy: (a) <br />the default; (b) the action reqnlred to cure the defanlt; (c) a date, not less than 30 days from the date the <br />notice Is given to Borrower, by whlcb the delaolt mnst be cured; and (d) that failure to cure the default <br />on or before the date speclfied In tbe notice may result In acceleration of the sums secured by this <br />Security Instrument and sale of the Property. Tbe notice shall further Inform Borrower of the right to <br />reinstate after acceleration and the rlgbt to bring a court action to assert the non-e:llstence of a default <br />or any other defense of Borrower to accelendon and sale. If the default Is not cured on or <br />before the date speclfied In the notice. Lender at ItI option may require Immediate payment In full of all <br />sum. secured by tbls Security Instrument without f.rther demand and may invoke the power of sale <br />and auy otber remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses <br />Incurred In punullll the remedlel provided In this Section 22, Indndlng. but not limited to. reasonable <br />attorneys' fees and costs of title evidence. <br />If tbe power of sale Is Invoked, Trustee shall record a notice of defauh In each county In which any <br />part of the Property Is located and .hall mall copies of such notice In the maDner prescribed by <br />Applicable Law to Borrower and to the other penons prescribed by Applicable Law. After the dme <br />required by Applicable Law, Trustee Ihall glve pubUc notice of lale to the penons and In the manner <br />prescribed by Applicable Law. Trustee, without dem.nd OD Borrower, shall sell the Property at public <br />auction to the highest bidder at the time and place and UDder the terms deslguated In the notice of sale <br />In one or more parcell and in any order Trustee determlael. Trustee may postpone .ale of all or any <br />parcel of tbe Property by public announcement at the time and place of any previously scbeduled sale. <br />Lender or ItI designee may purcbase the Property at any sale. <br />Upon receipt of payment of tbe price bid, Tru,tee shall deliver to the purcbaser Trustee's deed <br />conveying the Property. The recitals in the Trustee', deed shall be prima facie evidence of the truth of <br />the statements made therein. Trultee sball apply the proceeds of the lale In the following order: (a) to all <br />costs and expenles of exercising the power of sale. and tbe sale, ineludlng the payment of tbe Trustee's <br />fees actuaUy Incurred and reasonable attorneys' fees al permitted by Applicable Law; (b) to all sums <br />secured by this Security Instrument; and (c) any eICCSS to the penon or penonslegally entitled to It. <br />23. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request <br />Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt <br />secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty to the <br />person or persons legally entitled to it. Such person or persons shall pay any recordation costs. Lender may <br />charge such person or persons a fee for reeonveying the Property, but only if the fee is paid to 8 third party <br />(such as the Trustee) for services rendered and the charging of the fee is permitted under Applicable Law. <br />24. Substitute Trustee. Lender, at its option. may from time to time remove Trustee and appoint a <br />successor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this <br />Security Instnunent is recorded. Without conveyance ofthe Property, the successor trustee shall succeed to all <br />the title, power and duties conferred upon Trustee herein and by Applicable Law. <br />25. Request for Notices. Borrower requests that copies of the notice of default and sale be sent to <br />Borrower's address which is the Property Address. <br /> <br />~ 06A(NE) (0401) <br /> <br />CHL (08104) <br /> <br />Page 100tll <br /> <br />. - .. /1 J1f1/ <br />In~.:r fA--- F( <br />Form 3028 1101 <br />
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