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200700008 Loan Number: 421002168 Servicing Number: 002267410-5 Date: 12/13/06 removal or other remt:diation of any Hazardous Substance aHecting the Property IS necessary, 13orrower shall promptly take all necessary remedial actions in accordance with Environmcntal Law. Borrower shall be solely responsible for, shall indt:mnify, defend and hold harmless Lendt:r, its directors, officers, employees, attorneys, agents, and their respective successors and assigns, from and against any and all claims, demands, causes of action, loss, damage, cost (including actual attorneys' fees and court costs and costs of any required or necessary repair, cleanup or detoxification of the Property and the preparation and implementation of any closure, abatement, containment, remedial or other required plan), expenses and liability directly or indirectly arising out of or attributable to (a) the use, generation, storage, release, threatened release, discharge, disposal, abatement or presence of Hazardous Substances on, under or about the Property, (b) the transport to or from the Property of any Hazardous Substances, (c) the violation of any Hazardous Substances law, and (d) any Hazardous Substances claims As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other l1ammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 20, "Environmental Law" melillS federal laws and laws of the jurisdiction where the Property is located that relate to health, safcty or environmental protection. ADDITIONAL COVENANTS Borrower and Lender further covenant and agree as follows: 21. Acceleration; Remedies. If any installment under the Notc or notes secured hereby is not paid when due, or if Borrower should he in dl.ofault under any provision of this Security Instrument, or if Borrower is in ddault undel' any other deed of trust or other instrument secured by the Property, all sums secured by this Security Instrument and accrued interest thercon shall at once become due and payable at the option of Lender without prior notice, except as otherwisc required by applicable law, and regardless of any prior forbearance. In such eVl.'Dt, Ll.'Dder, at its option, and subjeet to applicable law, may then or thercaf((,,'r invoke the power of sale and/or any other remedies or take any othl.'r actions permitted by applicable law. Lender will collect all ex[X.'Ds("'S incurred in pursuing the remedies dCS("TIbed in this Paragraph 21, including, but not limited to, reasonable attorneys' fC<.,'S and costs of title evidence. If tbe power of sale is invoked, Trustee shall record a notice of default in each county in which any part of the Property is located and shall mail copies of such notice in the manner pre.'lCribed by applieable law to Borrower and to the othl.'r [X.'rsons prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice of sale to the persons and in thc manner prescribed by applicable law. Trustce, without demand on Borrowl.'r, shall scll the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parCt:ls and in any order Tru::.1ee determines. Trustee may postpone sale of all or any parcel of the Property by publie announcement at the time and plnet: of any previously scheduled sale. Lender or its designec may purehase the Property at any sale. Upon receipt of payment of the priec bid, Trustee shall deliver to the purchaser Trustec's deed conveying the Prop<..ny. The recitals in the Trustce's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and expenses of exercising the POWl.'r of sale, and the sale, including the payment of the Trustee's fees actually ineurred, not to exceed 1.5 % of the prineipal amount of the note at the time of the declaration of default, and reasonable attorneys' fees as permitted by law; (b) to all sums secured by this Security Instrument; and (e) any excess to the person or persons legally entitled to it. 22. Reconvcyancc_ Upon payment of all sums secured by this Security Instrument, Lt:ndt:r shall rdease this property without warranty to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. Lt:nder may charge such person or persons a fee for rdt:asing tht: Property for services rendered if the charging of tht: ft:e is permitted under applicable law. 23. Substitute Trustee_ Lender, at its option, may from time to time remove Trustee and appoint a sueet:ssor trustee to any Trustee appointed hereunder by an instrument rceorded in the county in which this Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein and by applicable law. 24_ Request for Notices. Borrower rt:qut:sts that copies of the notices of default and sale be sent to I3orrowd s address of which is the Property Address. 25. Misrepresentation and Nondisclosure. Borrower has made certain written representations and disclosurt:s in order to induce Lender to make the loan evidenced by tht: Note or notes which this Security Instrument secures, and in the event that Horrower has made any material misrepresentation or failed to disclose any material fact, Lendt:r, at its option and without prior notiee or demand, shall have the right to dedart: tht: indebtedness secured by this Security Instrument, irrespective of the maturity datc specified in the Note or notes st:curt:d by this Security Instrument, immediately due and payable. To the exknt pt:nnitkd by applicable law, Trustee, upon presentation to it of an affidavit signed by Lt:nder setting forth facts showing a default by I3orrower under this paragraph, is authorized to acct:pt as true and conclusive all facts and statements therein, and to act thereon hereunder. 26. Time is of the Essence. Time is of the essence in the pt:rformanct: of t:ach provision of this St:curity Instrument. 27. Waiver of Statute of Limitations. Tht: pleading of the statute of I imitations as a defense to enforcement of this Security Instrumt:nt, or any and all obligations referred to herein or secured hereby, is hert:by waived to the fullest t:xknt pt:rmitlt:d by applicable law. 2S. Modification. This Security Instrument may be modified or amended only by an agrt:ement in writing signed by BOlTower and Lender. 29. Reimbursement. To the extent permitted by applicable law, Borrower shall reimburse Trustee and Lender for any and all costs, ft:t:s and t:xpt:nses which t:itht:r may incur, expend or sustain in the execution of the trust created hereunder or in the pt:rformanee of any act required or permitted hereunder or by law or in equity or otherwise arising out of or in connection with this St:curity Instrumt:nt, the Nok, any other note secured by this Security Instrument or any other instrument executed by I3orrowcr in connection with the Note or Security Instrument. To the extent permitted by applicable law, Borrowcr shall pay to Trustee and Lender their fees in connection with Trustee and Lender including, but not limikd to assumption application ft:t:s; fet:s for payolT demands and, statemt:nts of loan balanct:; ft:es for making, transmitting and transporting copit:s of loan documt.'Dts, verifications, full or partial lien reconveyance and other documents requested by borrower or necessary for performance of Lender's rights or duties under this Security Instrument; fees arising from a returned or dishonored check; fees to determine whether the Property is occupied, protected, maintained or insured or related purpost:s; appraisal ft:t:s, inspt:ction fees, legal fees, broker fees, insurance Page 5 of (j NED10015 (03/29/00)