|
<br />200704840
<br />
<br />conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and
<br />the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all
<br />expenses incurred in enforcing this Security Instrument and allowed by law, including, but not limited to,
<br />reasonable attorneys' tees; and (d) takes such action as Lender may reasonably require to assure that the lien of this
<br />Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this
<br />Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the
<br />obligations secured hereby shall remain fully effective as ifno acceleration had occurred.
<br />19. Sale of Note; Change of Loan Servicer, The Note or a partial interest in the Note (together with this
<br />Security Instrument) may be sold one or more times without prior notice to Borrower. A sale may result in a change
<br />in the entity (known as the "Loan Servicer") that collects monthly payments due under the Note and this Security
<br />Instrument. There also may be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a
<br />change oHhe Loan Servicer, Borrower will be given written notice of the change in accordance with paragraph 14
<br />above and applicable law. The notice will state the name and address of the new Loan Servicer and the address to
<br />which payments should be made. The notice will also contain any other information required by applicable law.
<br />20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal. storage, or
<br />release of any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do,
<br />anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall
<br />not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are
<br />generally recognized to be appropriate to normal residential uses and to maintenance of the Property.
<br />Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other
<br />action by any governmental or regulatory agency or private party involving the Property and any Hazardous
<br />Substance or Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any
<br />governmental or regulatory authority, that any removal or other remediation of any Hazardous Substance affecting
<br />the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with
<br />Environmental Law.
<br />As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous
<br />substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic
<br />petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or
<br />formaldehyde, and radioactive materials. As used in this paragraph 20, "Environmental Law" means federal laws
<br />and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection.
<br />NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />21. 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 acceleration
<br />under paragraph 17 unless applicable law provides otherwise), Lender, at its option, may require immediate
<br />payment in full of all sums secured by this Security Instrument without further demand and may invoke, in
<br />accordance with applicable law, the power of sale and any other remedies permitted by applicable law,
<br />Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph
<br />21, including, but not limited to, reasonable attorneys' fees and costs of title evidence.
<br />22. 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 secured
<br />by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to
<br />the person or persons legally entitled to it. Such person or persons shall pay any recordation costs to the extent
<br />permitted by applicable law.
<br />23. 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 Security
<br />Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title,
<br />power and duties conferred upon Trustee herein and by applicable law.
<br />
<br />SEE PAGES 1,2,3,4,5 AND 7 FOR ADDITIONAL IMPORTANT TERMS
<br />
<br />/
<br />
<br />204643206/05;07 J7:0J
<br />72-4JJ4F
<br />
<br />PRICE MITCHEll
<br />
<br />[n"al{,}X /~/~J#
<br />
|