|
�010Q8451
<br />shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not
<br />apply in the case of acceleration under Section 18.
<br />20. Sale af Note; Change of Loan Servicer; Notice of Griev�nce. The Nate or a partial interest in
<br />the Note (together with this Security Instrument) can bc sald c�ne or morc times withqut prior notice to
<br />I3orrow�r. A salc rnight result in a charrge in the entity (known as the "Loan S�rvicer") that collects
<br />Feriodic Payments due under the Note and this Security Instrument and performs other mortgage 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 unrelated to a sale of the Note. If there is a change of the Loan
<br />Servicer, Borrower will be �;iven written notice c�f the change which will state the name and address of the
<br />new Loan Servicer, thc address to which payments shauld be made and any other information RESPA
<br />requires in connection with a notice of transfer c>f servicing. If the Note is sold and thereafter the Loan is
<br />serviced by a Loan Servieer otlier than thc purcl�as�r of thc: Nc�te, the mortgage loan servicing obligations
<br />to Borrawcr will remain with the Lc�an Servic�r c�r be transferred to a successor Loan Servicer and are not
<br />assumed by the N�te purchaser unless otherwise providcd by the Note purchascr.
<br />Neithcr Borrower nar Lender may commene�, join, ar be joined to any judicial action (as either an
<br />individual liti�ant or the member of a class) 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 />reason of, this Security Instrument, until such Borrower or Lender has notified the ather party (with such
<br />notice given in compliance with the requirements of Section 15) af such alleged breach and afforded thc
<br />other party hereto a reasonable period after the giving af such natice ta tak� carrcctive action. If
<br />Applicable Law provides a time period which must elapse before certain action can br: talcen, that time
<br />period will be deemed to be reasonable for purposes of this paragraph. The notice of acccicration and
<br />opportunity to cure given to T3orrower pursuant to 5ection 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 correctivc
<br />action provisions of this Section 20.
<br />2l. Hazardous Substanees. As used in this Section 21: (a) "Hazardous Substances" are those
<br />substances defined as toxic or hazardous substances, pollutants, or wastes by Enviranmental Law and thc
<br />following substances: gasoline, kerosene, other flammable or toxic petroleum products, taxic pesticides
<br />and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials;
<br />(b) "�nvironmental Law" means federal laws and laws of the jurisdictian where the Property is located that
<br />relate to health, safety or environmental protectian; (c) "�nviranmcntal Cl�anup" includes any response
<br />7ction, remedial action, or removal action, as defined in Environmental I�aw; and (d) an "Environmental
<br />Condition" means a condition that can cause, contribute tc�, or otherwise trigger an Environmental
<br />Cleanup.
<br />Borrower shall not cause or permit the presence, use, disposdl, storag�, or relcasc of any Hazardous
<br />Substances, or threaten to release any Hazardous 5ubstances, on or in the Property. Borrower shall not do,
<br />nor allaw anyone else to do, ai�.ythi��g affecting the Property (a) that is in violation of any Environmcntal
<br />I,aw, (b) which creates an �nvironmental Condition, or (c) which, due to the presence, use, ar release of a
<br />H�ardaus Substance, creates a cc�ndition that adversely affects the value of the Property. The preceding
<br />two sentences shall not apply to the presence, use, or storage on the Praperty af small quantities of
<br />Hazardous Substances that are generally recognized to be apprapriate ta narmal residential uscs and to
<br />maintenance of the Froperty (including, but not limited to, hazardous substances in c�nsumer products).
<br />$orrower shall promptly give Lender written notice of (a) any invcstigation, claim, demand, lawsuit
<br />or other action by any governmental or regulatory agency ar private party inv��lving the Property and any
<br />Hazardous Substance or Environmental Law of which Borrawer has actual knowledge, (b) any
<br />�nvironmental Condition, induding but not limited to, any spilling, leaking, dischargc, rcicase ar threat of
<br />release of any Ha7ardous Substanc�, and (c) any condition caused by the presence, use or releas� aF a
<br />Hazardous Substance which adversely affects the valuc of the Prc�perty. If $orrower learns, or is notified
<br />�-6(NE) �aao��.o2
<br />m
<br />Ini : �
<br />P�e 12 of 15
<br />F������Yf��T�
<br />Farm 3028 1/01
<br />
|