|
2011o�os�
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a
<br />riod of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower
<br />ist pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of
<br />s period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand
<br />Bonower.
<br />19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall
<br />ve the right to have enforcement of this 5ecurity Instrument discontinued at any time prior to the earliest of: (a)
<br />�e days before sale of the Properly pursuant to any power of sale contained in this 5ecurity Instrument; (b) such
<br />ier period as Applicable I,aw might specify for the termination of Borrower's right to reinstate; or (c) entry of a
<br />igment enforcing this Security Instrument. Those conditions aze that Bonower: (a) pays L.ender a11 sums which
<br />�n would be due under tlus Security Instrument and the Note as if no acceleration had occurred; (b) cures any default
<br />any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrutnent, including,
<br />t not limited to, reasonable attorneys' fees, properly inspection and valuation fees, and other fees incurred for the
<br />rpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such
<br />tion as Lender may reasonably require to assure that Lender's interest in the Property and rights under this 5ecurity
<br />strument, and Borrower's obligation to pay the sums secured by this Security Instrument, sha11 continue unchanged.
<br />:nder may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms,
<br />selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check,
<br />�vided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality
<br />entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations
<br />�ured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall
<br />�t apply in the case of acceleration under Section 18.
<br />20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note
<br />igether with this Security Instrument) can be sold one or more tunes without prior notice to Borrower. A sale might
<br />�ult in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note
<br />d this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security
<br />strument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale
<br />the Note. If there is a change of the Loan Servicer, Bonower will be given written notice of the change which will
<br />ite the name and address of the new Loan Servicer, the address to which payments should be made and any other
<br />Formation RESPA requires in conn�tion with a notice of transfer of servicing. If the Note is sold and thereafter
<br />� Loan is serviced by a L,oan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations
<br />Borro�ver will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed
<br />� the Note purchaser unless otherwise provided by the Note purchaser.
<br />Neither Bonower nor Lender may commence, join, or be joined to any judicial action (as either an individual
<br />igant or the member of a class) that arises from the other pariy's actions pursuant to this Security Instrument or that
<br />eges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument,
<br />�til such Bonower or Lender has notified the other party (with such notice given in compliance with the requirements
<br />Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such
<br />�tice to take conective action. If Applicable Law provides a time period which must elapse before certain action
<br />n be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of
<br />celeration and opportunity to cure given to Bonower pursuant to Section 22 and the notice of acceleration given
<br />Borrower pursuant to Section 18 sha11 be deemed to satisfy the notice and opporiunity to take conective action
<br />ovisions of this 5ection 20.
<br />21. Hazardous Substances. As used in this Section 21: (a) "Hazardous 5ubstances" aze those substances
<br />fined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances:
<br />soline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents,
<br />aterials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal
<br />ws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection;
<br />)"Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in
<br />ivironmental Law; and (d) an"Environmental Condition" means a condition that can cause, contribute to, or
<br />herwise trigger an Environmental Cleanup.
<br />Bonower sha11 not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances,
<br />threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor a11ow anyone else
<br />do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an
<br />ivironmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a
<br />�ndition that adversely affects the value of the Property. The preceding two sentences sha11 not apply to the
<br />esence, use, or storage on the Property of sma11 quantities of Hazardous 5ubstances that are generally recognized
<br />be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to,
<br />�zardous substances in consumer products).
<br />Bonower sha11 promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other
<br />tion by any governmental or regulatory agency or private parly involving the Property and any Haza.rdous Substance
<br />Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not
<br />nited to, any spilling; leaking, discharge, release or threat of release of any Hazatdous Substance, and (c) any
<br />�ndition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the
<br />•operly. If Bonower learns, or is notified by any governmental or regulatory authority, or any private party, that
<br />ry removal or other remediation of any Hazardous Substance affecting the Property is necessary, Bortower sha11
<br />�omptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any
<br />�li�ation on Lender for an Environmental Cleanup.
<br />ASKA--Single Family=-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DocMaglc�
<br />3028 1101 Page 8 of 11 www.dxmag7c.com
<br />Ne3028.dot.mil
<br />
|