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20-0t00263
<br />notified the other party (with such notice given in compliance with the requirements of Section 15)
<br />of such alleged breach and afforded the other party hereto a reasonable period after the giving of
<br />such notice to take convective action. If Applicable Law provides a time period which must elapse
<br />before certain action can be taken, that time period will be deemed to be reasonable for purposes of
<br />this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to
<br />Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed
<br />to satisfy the notice and opportunity to take corrective action provisions of this Section 20.
<br />21. Hazardous Substances. As used in this Section 21: '(a) "Hazardous Substances" are
<br />those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental
<br />Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products,
<br />toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde,
<br />and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction
<br />where the Property is located that relate to health, safety or environmental protection; (c)
<br />"Environmental Cleanup" includes any response action, remedial action, or removal action, as
<br />defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can
<br />cause, contribute to, or otherwise trigger an Environmental Cleanup.
<br />Borrower shall not cause or permit the presence, use, disposal, storage, or release of any
<br />Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property.
<br />Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in
<br />violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which,
<br />due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely
<br />affects the value of the Property. The preceding two sentences shall not apply to the presence, use,
<br />or storage on the Property of small quantities of Hazardous Substances that are generally recognized
<br />to be appropriate to normal residential uses and to maintenance of the Property (including, but not
<br />limited to, hazardous substances in consumer products).
<br />Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand,
<br />lawsuit or other action by any governmental or regulatory agency or private party involving the
<br />Property and any Hazardous Substance or Environmental Law of which Borrower has actual
<br />knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking,
<br />discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by
<br />the presence, use or release of a Hazardous Substance which adversely affects the value of the
<br />Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any
<br />private party, that any removal or other remediation of any Hazardous Substance affecting the
<br />Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance
<br />with Environmental Law. Nothing herein shall create any obligation on Lender for an
<br />Environmental Cleanup.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as
<br />follows:
<br />22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration
<br />following Borrower's breach of any covenant or agreement in this Security Instrument (but
<br />not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The
<br />notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not
<br />less than 30 days.from the date the notice is given to Borrower, by which the default must be
<br />cured; and (d) that failure to cure the default on or before the date specified in the notice may
<br />result in acceleration of the sums secured by this Security Instrument and sale of the
<br />NMRASKA— UNUORM INSTRiTMM (Acknowkdgements)
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