|
<br />200607504
<br />
<br />V2 WBCD LOAN * 501154530
<br />information RESPA requires In conn9ctlon with a notice oftransfgr of servicing, If the Note is sold and thereafter the Loan
<br />is servIced by a Loan Servicer other than the purchaser ofthe Note, the mortgage loan servicing obligations to Borrower
<br />will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note
<br />purchaser unless otherwise provided by the Note purchaser.
<br />Neither Borrowgr nor L'lnd9rmay commence, Join, or be Joined to any judicial action (as either an Individual litigant
<br />or the member of a class) that arises from the other party's actions pursuantto this Security Instrument orthat alleges
<br />thatthe other party has brgached any provision of, or any duty owed by reason of, this Security Instrument, until such
<br />Borrower or Lender has notified the other party (With such notice giVen in compliance with the requirements of Seotion
<br />15) of such alleged breach and afforded the other party hereto a reasonabl9 period after the giving of such notioe to
<br />take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken,
<br />that time period will be de9med to be reasonable for purposes of this paragraph. The notice of acceleration and
<br />opportunity to cure given to Borrower pursuantto Silction 22 and the notice of acceleration glv9n to Borrower pursuant
<br />to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions ofthls Section
<br />20.
<br />21. Hazardous Substances. As used in this Section 21 : (a) "Hazardous Substances" are those substances defined
<br />as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline,
<br />kerosene, oth9r flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials
<br />containing asbestos orforrnaidehyde, and radioactive materials; (b) "Envlronmental Law" means federal laws and laws
<br />of the jurisdIction where the Property is located that relate to health, safety or environmental protection; (c)
<br />"Environmental Cleanup" Includes any response actIon, remedial aotlon, or removal action, as defined in Environmental
<br />Law; and (d) an "Environmental Condition" mgans a condition that can cause, contribute to, or otherwise trigger an
<br />Environm9ntal Cleanup.
<br />Borrower shall not cause or permit the presence, use, disposal, storage, or releasa of any Hazardous Substances,
<br />or threaten to release any Hazardous Substancils, on or In the Property. Borrower shall not do, nor allow anyone else
<br />to do, anything affecting the Property (a) that Is In vlolation of any Environmental Law, (b) which creates an Environmental
<br />Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that
<br />adversely affects the value ofthe Property. The preceding two sentences shall not apply to the presence, use, or storage
<br />on thEl Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal
<br />residential uses and to maintenanoe of the Property (including, but not limited to, hazardous substances in consumer
<br />products).
<br />Borrower shall promptly givil Lender written notice of (a) any Investigation, claim. demand, lawsuit or other action
<br />by any governmental or regulatory agency or private party InvolvIng the Property and any Hazardous Substance or
<br />Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited
<br />to, any spilling, leaking, dlschargil, release or threat of release of any Hazardous Substance, and (c) any condition
<br />caused by the presence, use or release of a Hazardous Substance which adversely affeots the value of the Property.
<br />If Borrower learns, or Is notified by any governmental or regulatory authority, or any private party, that any removal or
<br />other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptiy take all
<br />necessary remedial actlons In accordance with Environmental Law. Nothing herein shall create any obligation on Lender
<br />tor an Environmental Cleanup.
<br />
<br />NON-UNiFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />22. Acceleration; Remedies. Llinder shall glv... notice to Borrower prIor to acceleration following Borrower's
<br />breach of any covenant or agreement In this Security Instrument (but not prior to accelgratlon under Section 18
<br />unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to
<br />cure the default; (c) a date, not less than 30 days from the date the notice Is given to Borrower, by which the default
<br />must be cured; and (d) that failure to curg thg default on or before the date specified In the notice may result in
<br />accahnation of the sums secured by this Security Instrument and sale of the Propgrty. The notice shall further
<br />Inform Borrower of the right to reinstate after acceleration and the rlghtto bring a court action to assert the non-
<br />existence of a default or any othar defensg of Borrower to acceleration and sale. If the default Is not cur9d on
<br />or bgfore the date specified In the notice, Lender at Its option may raqulre Immediate payment In full of all sums
<br />secured by this Security Instrument without further demand and may Invoke the power of sale and any other
<br />ramgdi9s permItted by Applicable Law, Lender shall be entitled to collect all expanses Incurred In pursuing the
<br />remedies provided In this Section 22, Including, but not iimitgd to, reasonable attomeys' fees and costs of title
<br />evidence.
<br />If the power of sal9 Is Invoked, Trustee shall record a notice of default In each county In which any part of
<br />the Property Is located and shall moll copies of such notice In the manner prascrlbed by Applicable Law to
<br />Borrower and to the other persons prescribed by Applicable Law. After the time required by Applicable Law,
<br />Trust99 shall glvil public notice of sale to the persons and In the manner prescribed by Applicable Law. Trustee,
<br />without demand on Borrower, shall sell the Property at public auction to the highest bIdder at the time and place
<br />and under thQ terms d9slgnated in the notice of sale In one or more parcels and In any ordar Trustee determines.
<br />Trustee may postpone sale of all or any parcel of the Property by public announcement at the tlma and place of
<br />any previously scheduled sale. Lender or Its designee may purchase the Property at any sala.
<br />Upon rgceipt of payment of the price bid, Tr~tee shall deliver to the purchas9rTrustee's deed conveying the
<br />Property. The recitals In the Trustee's deed shall be prima facie evldenoe of the truth of the statements made
<br />therein. Trustee shall apply the proceeds of the sale In the following order: (a) to all costs and eXpen3es of
<br />exercising tha power of sale, and tha sale, Including the payment of the Trustee's fees actually Incurred and
<br />reasonable attorneys' fees as parmitted by Applicable Law; (b) to all sums secured by this Security Instrument;
<br />and (c) any excess to th9 pgrson or persons legally entitled to It.
<br />23. Reconveyance. Upon payment of all sums secured by this Securlty Instrument, Lender shall request Trustee
<br />to ra-convey the Property and shall surrender this Security Instrument and alI notes evldencing debt secured by this
<br />Security Instrument to Trustee. Trustee shaH reconvey the Property without warranty to the person or persons legally
<br />entitled to it. Such person or persons shall pay any recordation costs. Lender may charge such person or persons a
<br />fee for reconveying the Property, but only if the fee Is paid to a third party (suoh as the Trustee) for services rendered
<br />and the charging of tha fee Is permitted under ApplIcable Law. h.
<br />
<br />NEllRASKA-Slngle Family-Fannia MBlI/Fraddla Mac: UNIFORM INSTRUMENT Form 311281/111 Ini tials: ~ dJ.{
<br />(0 1999.2I1l14 Online Document., Inc. Page 8 of 9 NEEDEED lI402
<br />08-18-2006 10:21
<br />
|