Laserfiche WebLink
2oioo7i52 <br />Neither Borrower nox Lender may commence, join, or be joined Do arty judicial action (as either an individual litigant or the <br />member of a class) that anises from the other party's actions pursuant to this Security instrament or that alleges that the other <br />party has breached any provision of, or any duty awed by reason of, this Sectrity instrument, until such Borrower or Lender <br />has notified the other parry (with such n~iec given in compliat~e with the rerpairements of Section 15) of such alleged breach <br />and afforded the other party hereto a reasonable period after the giving of such notice to take eortecti~ue action. if Applicable <br />Law ptrnrides a time period which must e~pse before certain action can be taken, that time period will be deemed to be <br />reasonable for purposes of this paragraph The notice of acceleration and opportunity fo curie given to Borrower pursuant to <br />Section S and the notice of acceicration given to Borrower puasuatat to Section l8 shall be deemed to satisfy the native and <br />opportunity to take cozxective action provisions of this Section 2t1. <br />~9. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic <br />or hazardous substances, polhrtants, or wastes by Environmental Lawand the following substances: gasoline, keaosene, other' <br />tiammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materiels containing asbestos or <br />fomraldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the <br />Property is located that relate to health, safety or environmental protection; (c) ° Environmental Cleanup" includes arty <br />response action, remedial action, or removal action, as defined ti Environmental Law; and (d) an "Emironmerrtal Condition" <br />means a condition that eau cause, contribntc to, or otherwise trigger an Ettvirxattmental Cleanup. <br />Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, nr <br />threaten to release arty Hazardous Substances, on or in the Property. Harrower shall rat da, nor allow attyane else to der, <br />anything affecting the Property (a) that is in violation of any Environmental Law, (b) which crearoes an EnviraturteNai <br />Condition, or (c} which, due to the presErtce, use, err release of a I~aardous Substance, creates a condition that adversely <br />affects the value of the Properly. Tlae preeedi~ two sentences shall not apply to the ptesencey use, or storage on the Property <br />of small quantities of Harrazdotts Substances that are liy recognized to be appropriate k normalxesidential uses and to <br />maintenance of the Property (including, but not limited ter, hazar~us substances in consumer products). <br />Borrower shall promptly give Lender written notice of (a) any investigation, clean, demand, lawsuit err other action by any <br />govemmetttal. or regulatory agency err private patsy involving flu' Property and any Hazardous Substance ax Environmenntal <br />Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, arty spilling, <br />leaking, discharge, release or threat of release of arty Hazardous Substance, and (c) any condition caused by the preset~c, use <br />or release of a Hazardous Substance which adversely affects the value of the Property. if Borrower learns, or is notified by any <br />govermnental or regulatory authority, or a~ private party, that any removal or other rennediation of arty Hazardous Substance <br />a1Y'ecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with <br />Ertvironrnetrtal Law. Nothing herein. shall create aqv obligation an Lender for an Ercvirorurtetttal Cleanup. <br />NON UMFORM COVENANTS. Borrower and Lender further covenant and agree as follows: <br />22. Acce4eration; Remedies. Lender shall give notice to Harrower prior to aeceleratian following Borrotiver's breach of <br />any covenant err agreement in ihia Security Iast~ument (but not prior to acceleration under Beetles 18 rmleas Applicable <br />Law provides otherwise). 77te notice shall specify: (a) the default; (b) the action ret;nired to care the default; (c) a date, not <br />rem than 3b days from the date the notice is given to Borrower, by which the default meat be cared; and (d) that failure to <br />cure the default on or before the date specified lop the notice may restdt in acceleration of the same secures bythia Security <br />instrument and sale of the Property. 'the notice shat( further iafarm Horrower of tiro right to reinstate oilier acceleration <br />and the right to btfmg s court action ro assert the non-existence of a default or any other defense of Borrower to acceleration <br />and sale. if the default is not cured on or bet'ore the date specified in the notice, Lender at its option may require immediate <br />payment m Tull of all sums secured by thin Security Instrument without iarther demand and may iurvoke the power of sale <br />and any other rer-aedies permitted by Applicable Law, Fender shall be entitled to co>lect ail expenses incurred in pursuing <br />the remedies provided in this Section ZZ, iadading, bat not lhnited to, reasonable atroraeys' fees and costa of title evidence. <br />If the poser of oak is invoked, lywtee shall record a notice of default in each county is wh#ch a~+ part of the Property <br />is located and shall mail copies of such noflce is me manner prescribed by Applicable Law to Harrower sad to the other <br />persons preacn'bed by Applicable Latr. After the time required by Applicable Lavr, Trnatee shall give public notice of aa~ tt- <br />the persons sad in the manner preacn'bed by Applicable Law. Trustee, without demand on Borrower, shall aril the Property <br />at public auction to the highest bidder at the time sad place and ender the terms designated ist the notice of sale in one err <br />atone parcels and in say order 7'ntstee determines. Traatee may postpone aerie of all or any parcel of me Property by public <br />announcement at rite time and place of any previously scheduled rile. Lender or its designee may purchare the Property at <br />any sett. <br />NCBtiAEKA - Single Famly - Fannit MaerFradaiv sNao UNIFORM MIS7RUM~NT ~1 L <br />~~Nq roei~} P.e. n ~r~• uaraur. ,~ farm sttz~ 110( <br />~ ND9 <br />immmmm <br />