|
<br />200900089
<br />
<br />20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the
<br />Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower.
<br />A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments
<br />due under the Note and this Security Instrument and performs other mortgage loan servicing obligations
<br />under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of
<br />the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be
<br />given written notice of the change which will state the name and address of the new Loan Servicer, the
<br />address to which payments should be made and any other information RESPA requires in connection with a
<br />notice of transfer of servicing. If Ule Note is sold and thereafter the Loan is serviced by a Loan Servicer oilier
<br />Ulan ilie purchaser of ilie Note, ilie mortgage loan servicing obligations to Borrower will remain WiUl the
<br />Loan Servicer or he transferred to a successor Loan Servicer and are not assumed by ilie Note purchaser
<br />unless otherwise provided by ilie Note purchaser.
<br />Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an
<br />individual litigant or the member of a class) iliat arises from ilie oilier party's actions pursuant to Ulis Security
<br />Instrument or iliat alleges iliat ilie other party has breached any provision of, or any duty owed by reason of,
<br />Ulis Security Instrument, until such Borrower or Lender has noliiled ilie oilier party (wiili such notice given in
<br />compliance wiili ilie requirements of Section 15) of such alleged breach and aiTorded ilie oilier party hereto a
<br />reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time
<br />period which must elapse before certain aclion can be taken, that time period will be deemed to be reasonable
<br />for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant
<br />to Section 22 and ilie notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to
<br />satisfy Ule notice and opportunity to take corrective action provisions of iliis Section 20.
<br />21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are UlOse
<br />subsl.'lnces defined as toxic or hazardous substances, poIlUl.'lnts, or wastes by Environmental Law and the
<br />following substances: gasoline, kerosene, oilier ilammable or toxic petroleum products, toxic pesticides and
<br />herbicides, volatile solvents, materials containing ashestos or formaldehyde, and radioactive materials; (b)
<br />"Environmental Law" means federal laws and laws of ilie jurisdiction where ilie Property is located that relate
<br />to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action,
<br />remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition"
<br />means a condition that can cause, contribute 10, or otherwise trigger an Environmental Cleanup.
<br />Borrower shall not cause or permit ilie presence, use, disposal, storage, or release 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 else to do, anything aiTecting the Property (a) Ulat is in violation of any Environmental
<br />Law, (b) which creates an Environmental Condition, or (c) which, due 10 the presence, use, or release of a
<br />Hazardous Substance, creates a condition that adversely aiTects ilie value of the Property. The preceding two
<br />sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous
<br />Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of
<br />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
<br />oilier action by any governmental or regulatory agency or private party involving the Property and any
<br />Hazardous Substance 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 adversely affects the value of ilie Property. If Borrower learns, or is notified by
<br />any governmental or regulatory authority, or any private party, that any removal or other remediation of any
<br />Hazardous Substance aiTecting the Property is necessary, Borrower shall promptly take all necessary remedial
<br />actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an
<br />Environmental Cleanup.
<br />
<br />t-jfi'
<br />
<br />.-6A(NE) (0407),01
<br />@
<br />
<br />Initials: leA-
<br />
<br />Form 3028 1/01
<br />
<br />Page 12 of 15
<br />
|