|
2oloo~sss
<br />V2 WSCa Lout # 502947049
<br />information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan
<br />is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower
<br />will remain with the Laan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note
<br />purchaser unless otherwise provided by the Note purchaser.
<br />Neither Borrower nor Lender may commence, join, or bejoined to any judicial action (as either an individual litigant
<br />or the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges
<br />that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such
<br />Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section
<br />15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to
<br />take corrective action. If Applicable Law provides a time period which must elapse before certain action can betaken,
<br />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
<br />to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section
<br />20.
<br />21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined
<br />as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline,
<br />kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile selvents, materials
<br />containing asbestos orformaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws
<br />of the jurisdiction 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 defined in Environmental
<br />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,
<br />or threaten to release any Hazardous Substances, an or in the Property. Borrower shall not do, nor allow anyone else
<br />todo, anything affecting the Property (a) thatis in violation ofany Environmental Law, (b) which creates an Environmental
<br />Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that
<br />adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage
<br />on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal
<br />residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer
<br />products).
<br />Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action
<br />by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or
<br />Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited
<br />tn, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition
<br />caused by the presence, use ar release of a Hazardous Substance which adversely affects the value of the Property.
<br />If Borrower learns, or is notified by any governmental or regulatory authority, or any private party, that any removal or
<br />other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all
<br />necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender
<br />for an Environmental Cleanup.
<br />NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />22. Acceleration; Remedies. Lender shall glue notice to Borrower prior to acceleration following Borrower's
<br />breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18
<br />unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to
<br />cure the default; (c) a date, not less than 30 daysfrom the date the notice Is given to Borrower, by which the default
<br />must be cured; and (d) that failure to cure the default on ar before the date specified In the notice may result in
<br />acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further
<br />Inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-
<br />existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on
<br />or before the date specified In the notice, Lender at its option may require Immediate payment in full of all sums
<br />secured by this Security Instrument without further demand and may invoke the power of sale and any other
<br />remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the
<br />remedies provided In this Section 22, Including, but not limited to, reasonable attorneys' fees and costs of title
<br />evidence.
<br />If the power of sale is Invoked, Trusted shall record a notice of default In Qach county in which any part of
<br />the Property is located and shall mall copies of such notice In the manner prescribed by Applicable Law to
<br />Borrower and to the other persons proscribed by Applicable Law. After the time required by Applicable Law,
<br />Trustee shall glue public notice of sale 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
<br />and under the terms designated in the notice of sale In one ar more parcels and In any order Trustee determines.
<br />Trustee may postpone sale of all or any parcel of the Property by public announcement at the time and place of
<br />any previously scheduled sale. Lender or Its designee may purchase the Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall del iver to the purchaser Trustee's deed conveying the
<br />Property. The recitals In the Trustee's deed shall be prima facie evidence of the truth of the statements made
<br />therein. Trustee shall apply the proceeds of the sale in the follvwing order: (a) to all costs and expenses of
<br />exercising the power of sale, and the sale, including the payment of the Trustee's fees actually incurred and
<br />reasonable attorneys' fees as permitted by Applicable Law; (b) to all sums secured by this Security Instrument;
<br />and (c) any excess to the person or persons legally entitled to It.
<br />23. Reconveyanco. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee
<br />to re-convey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this
<br />Security Instrument to Trustee. Trustee shall reconvey the Property without warranty to the person or persons legally
<br />entitled to it. Such person or persons shall pay any recordation costs. Lender may charge such person or persons a
<br />fee for reconveying the Property, but only if the fee is paid to a third party (such as the Trustee) for services rendered
<br />and the charging of the fee is permitted under Applicable Law.
<br />NEBFiA3KA-Single Family--Fannie Mae/Freddle Mac UNIFORM INSTRUMENT Form 3028 i/07 Initialsl s ,~/
<br />®1999-2007 Online Docum®nts, Inc. Page 8 of 9 NEEDEED 070
<br />05-28-2010 9:05
<br />
|