|
<br />200603226
<br />
<br />shall n.:main fully effective as if no acceleration had occurred. HO\vever, this right to reinstate shall not
<br />apply in the case of acceleration under Section IN.
<br />20. Sale of Note; Change of Loan Set"vicer; NoIice of Grievance. The Note or a partial interest in
<br />the Note (togcther with this Security Instrument) can be sold one or more times without prior notice to
<br />Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects
<br />Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan
<br />servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be
<br />one or more changes of the Loan Servieer unrelated to a sale of the Note. If there is a change of the Loan
<br />ServiceI', Borrower will be given written notice of the change which will state the nmne and address of the
<br />new Loan Servicer, the address to which payments should be made and any othcr information RESP A
<br />requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is
<br />serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations
<br />to Borrower will remain with the Loan Servicer or be transferred to a successor Loan ServiceI' and are not
<br />assumed by the Note purchaser unless otherwise provided by the Note purchaser.
<br />Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an
<br />individual litigant or the member of a class) that arises from the other party's actions pursuant to this
<br />Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by
<br />reason of: this Security Instrument, until such Borrower or Lender has notified the othcr party (witb such
<br />notice given in compliance with the requircmcnts of Section 15) of such alleged brcach and afforded the
<br />other party hereto a reasonable period aftcr the giving of such notice to takc correctivc action. If
<br />Applicable Law provides a timc pcriod which must elapsc hdore certain action can bt: taken, that time
<br />period will be deemed to be reasonable for purposes of tbis paragraph. The notice of acceleration and
<br />opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to
<br />Borrower pursuant to Section IN shall be deemed to satisfy the notice and opportunity to take corrective
<br />action provisions of this Section lO.
<br />21. HaZ:lrdous Suhstances. As used in this Section 21: (a) "H azardous Substances" arc those
<br />substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the
<br />fi.lllowing substances: gasoline, kerosene, other flammable or toxic petroleum products. toxic pesticides
<br />and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive Inaterials;
<br />(b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that
<br />relate to health, safety or environmental protection; (c) "En vironmental Cleanup" includes any response
<br />action, remedial action, or removal action, as defined in Environmental Law; and (ell an "Environmental
<br />Condition" means a condition that can cause. contribute to, or otherwise trigger an Environmental
<br />Cleanup.
<br />Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardolls
<br />Substanees, or threaten to release any Ha7ardous Substances, on or in the Property. Borrower shall not do,
<br />nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental
<br />Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, ust.:, or release of a
<br />Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding
<br />two sentences shall not apply to the presence, use, or storage on the Property of small quantitit.:s of
<br />Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to
<br />maintcnance of the Property (including, but not limited to, hazardous substances in consumer products).
<br />Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit
<br />or other action by any govennnental 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
<br />Environlnental Condition, ineluding but not limited to, any spilling, leaking, disehargc, release or threat of
<br />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 valuc of the Property. If Borrower learns, or is notified
<br />
<br />IniII3IS:~
<br />
<br />0110247977
<br />
<br />.-6(NE) (0407).01
<br /><!)
<br />
<br />PaJe 1 2 of 1 5
<br />
<br />Fonn 3028 1101
<br />
|