|
<br />200805363
<br />
<br />will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA
<br />requires in connection with a notice oftransfer of servicing. I fthe Note is sold and thereafter the Loan is serviced by a Loan Servicer other
<br />than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to
<br />a successor Loan Servicer and are not 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 individual litigant or the member of
<br />a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any
<br />provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such
<br />notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable
<br />period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain
<br />action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and
<br />opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall
<br />be deemed to satisfy the notice and opportunity to take corrective action provisions ofthis Section 20.
<br />
<br />21. Hazardous Substances. As used in this Section 21 : (a) "Hazardous Substances" are those substances defined as toxic or hazardous
<br />substances, pollutants, or wastes 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 formaldehyde, and radioactive
<br />materials; (b) "Environmental Law" means federal laws and laws ofthe jurisdiction where the Property is located that relate to health, safety
<br />or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in
<br />Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an
<br />Environmental Cleanup.
<br />Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release
<br />any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that
<br />is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release
<br />of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply
<br />to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate
<br />to normal residential uses and to 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 investigation, claim, demand, lawsuit or other action by any
<br />governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which
<br />Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or
<br />threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release ofa Hazardous Substance which
<br />adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any private
<br />party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take
<br />all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an
<br />Environmental Cleanup.
<br />
<br />NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />
<br />22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any
<br />covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides
<br />otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from
<br />the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the
<br />date specified in the notice may result in acceleration ofthe sums secured by this Security Instrument and sale of the Property. The
<br />notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the
<br />non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date
<br />specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument
<br />without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be
<br />entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to,
<br />reasonable attorneys' fees and costs of title evidence.
<br />If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of the Property is
<br />located and shall mail copies of such notice in the manner
<br />prescribed by Applicable Law to Borrower and to the other persons prescribed by Applicable Law. After the time required by
<br />Applicable Law, Trustee shall give public notice ofsale 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 and under the
<br />terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all
<br />or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee
<br />may purchase the Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property. The
<br />recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the
<br />proceeds of the sale in the following order: (a) to all costs and expenses of exercising the power of sale, and the sale, including the
<br />payment of the Trustee's fees actually incurred and reasonable attorneys' fees as permitted by Applicable Law; (b) to all sums
<br />secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it.
<br />
<br />23. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shaH request Trustee to re-convey the
<br />Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee
<br />
<br />NEBRASKA -Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />Page 8 of 9
<br />
<br />Fonn 30~r1f)
<br />Borrower(s) Initials _ -41I-L
<br />
<br />IDS,lnc,
<br />
|