Laserfiche WebLink
<br />200707884 <br /> <br />20. Salc of Note; Change of Loan Serviccr; Notice of Grievance. The Note or a partial interest in <br />the Note (together with this Security Instrument) can be sold one or more timcs without prior notice to <br />Borrower. A sale might result in a change in the entity (known as the "Loan Scrviccr") that collects <br />Periodic Payments due under the Note and this Sccurity Instrument and performs other mortgage loan <br />servicing obligations under thc Note, this Security Instrument, and Applicable Law. Thcrc also might be <br />one or more changes of the Loan ServiceI' unrelated to a sale of the Note. If there is a change of the Loan <br />Servicer, Borrower will be given written notice of the change which will state the name and address of the <br />new Loan Servicer, thc address to which payments should be made and any other information RESP A <br />req~tires in connection with a notice of transfer of servicing. If the Note is sold and thcreaftcr thc Loan is <br />serviccd by a Loan Servicer other than the purchascr of thc Note, the mortgage loan servicing obligations <br />to Borrower will remain with thc Loan Scrvicer or be transferred to a successor Loan Servicer and arc not <br />assumed by the Notc purchaser unless otherwise provided by the Note purchascr. <br />Ncithcr Borrower nor Lender may commence, join, or be joincd to any judicial action (as either an <br />individual litigant or thc mcmber 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 Sccurity Instrument, until such Borrower or Lender has notified the othcr party (with such <br />notice givcn in compliance with the requiremcnts of Section 15) of such allegcd breach and afforded the <br />other party hereto a reasonablc pcriod after the giving of such notice to take corrective action. If <br />Applicable Law provides a time period which must elapse before certain action can bc takcn, that timc <br />period will be deemed to be reasonablc for purposcs of this paragraph. The notice of acceleration and <br />opportunity to cure givcn to Borrowcr pursuant to Scction 22 and the notice of acceleration given to <br />Borrowcr pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to takc correctivc <br />action provisions of this Section 20. <br />21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those <br />substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the <br />following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides <br />and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; <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) "Environmental Cleanup" includes any response <br />action, remedial action, or removal action, as defined in Environmcntal Law; and (d) 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 rclease of any Hazardous <br />Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, <br />nor allow anyone clse 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, use, or release of a <br />Hazardous Substance, creates a condition that adversely affects the value of the Property. Thc prcceding <br />two scntences shall not apply to the presence, use, or storage on the Property of small quanti tics of <br />Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to <br />maintenance of the Property (including, but not limited to, hazardous substances in consumer products). <br />Borrower shall promptly give Lender written notice of (a) any invcstigation, claim, demand, lawsuit <br />or other action by any governmental or regulatory agency or private party involving the Property and any <br />Hazardous Substancc or Environmental Law of which Borrower has actual knowledge, (b) any <br />Environmental Condition, including but not limited to, any spilling, leaking, discharge, 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 adverscly affects the value of the Property. If Borrower learns, or is notificd <br />by any governmental or regulatory authority, or any private party, that any removal or other remediation <br />of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary <br />remedial actions in accordancc with Environmental Law. Nothing hcrcin shall create any obligation on <br />Lender for an Environmental Cleanup. <br /> <br />2007-921601 <br /> <br />.-6A(NE) (0407).01 <br /><!9 <br /> <br />Page 12 of 15 <br /> <br />Initials; <br /> <br />\J ~.I-"- <br />6--L. <br /> <br />~.~~"- \)"j \C <br />2007-3995 <br /> <br />Form 3028 1/01 <br />