|
<br />200805531
<br />
<br />20. Sale of Notc; Changc of Loun Servicer; Notice of Grievance. The Note or a partial interest in
<br />the Note (together with this Security Instnmlent) can be sold one or more times without prior notice to
<br />Bonower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects
<br />Periodic Payments due under the Note and this Security Imtrument and perfonns other mo~~e loan
<br />servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be
<br />one or more changes of the Loan Servicer wrelated 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 nantC and address of the
<br />new Loan Servicer, the address to which payments should be made and any other information RF-SPA
<br />requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is
<br />serviced by a Loan Servicer other than the pW'Chaser of the Note, the mortgage loan servicing obligations
<br />to Bonowcr will remain with the Loan Serviccr or be transferred to a successor Loan Servicer and arc not
<br />assumed by the Note purehaser unless otherwise provided by the Note pW'Cbaser.
<br />Neither Borrower nor Lender may conuuence, join, or be joined to any judicial action (a<> either an
<br />individual litigant or the member of a c1a<>s) 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 />rea<>on of, this Security Instrument, until such Bonuwer or Lender has notified the other party (with such
<br />notice given in compliance with the requirements of Section 15) of sucb alleged breach and affonled the
<br />other party hereto a reasonable period after the giving of such notice to take coITeCtive action. If
<br />Applicable Law provides It time period which must elapse before certain action can be taken, that time
<br />period will be deemed to be rea<>onable for purposes of this pllI'1lgmph. The notice of acceleration and
<br />opportunity to cure given to Bonuwer pursuant to Section 22 and the notice of acceleration given to
<br />Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take eOITeCtive
<br />action provisions of this Section 20.
<br />21. Hlt7.ardous Substances. As used in this Section 21: (a) "Hazardous Substances" arc those
<br />substances defined as toxic or hazardous substances, pollutants, or wa<>tesby Environmental Law and the
<br />followiOJ:\ substances: ga<>oline, kerosene, other 08l11U1able or toxic petroleum products, toxic pesticides
<br />and herbicides, volatile solvents, materials containing a<>bestos 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, a<> defined in Environmental Law; and (d) an "Environmental
<br />Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental
<br />Cleanup.
<br />Bonuwer shall not cause or peront the presence, use, dispoSal, storage, or relea<>e of any Hazanlou"i
<br />Substances, or threaten to release any Ha7.ardous Substances, on or in the Property. Bonuwer shall not do,
<br />nor allow anyone else to do, Wlything affecting the Property (8) that is in violation of WlY Environmental
<br />Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or relea<>e of a
<br />llazanlous Substance, creates a condition that adversely affects the value of the Property. The preceding
<br />two sentences shall not apply to the presence, use, or storage on the Property of small quantities of
<br />IIazanlous Substances that arc generally recognized to be appropriate to nomtaI residential uses and to
<br />maintenance of the Property (including, but not linnted to, hazanlou"i substances in consumer products).
<br />Bonuwer shall promptly give Lender written notice of (8) WlY investigation, claim, demand, lawsuit
<br />or other action by any governmental or regulatory agency or private party involving the Property and any
<br />Hazanlous Substance or Environmental Law of which Bonuwer has actual knowledge, (b) any
<br />Environmental Condition, including but not limited to, any spilling, leaking, dischmgc, rcleusc or 1:hn:l:lt of
<br />relea<>e of any lIazanlou"i Substance, and (c) any condition caused by the presence, U're or release of a
<br />lIazanlous Substance which lIdven;ely affects the value of the Property. If Borrower learns, or L"i notified
<br />by any governmental or regulatory authority, or any private party, that any removal or other remediation
<br />of any Ha7.anlous Substance affecting the Property is necessary, Bonuwer shall promptly take all necessary
<br />remedial actions in acconlance with Environmental Law. Nothing herein shall create WlY obligation on
<br />Lender for an Environmental OeWlup.
<br />
<br />002005398805
<br />.'6A(NE) (0407).01
<br />@
<br />
<br />"-12 ol15
<br />
<br />-If
<br />
<br />Form 3028 1/01
<br />
<br />CiliMortgage 3.2.15.16 V3
<br />
|