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17. Transfer of the Property or a Beneficial Interest in Borrower. If al� or any part of the Property or
<br /> �any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borcower is not a natural
<br /> person) without Lender's p�ior written consent, Lender may,at its option, require immediate payment in futl of all sums secured by
<br /> this Security Instrument. However, this option shali not be exercised by Lender if exercise is prohibfted by federal law as of the
<br /> date of this Security Instrument.
<br /> If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not
<br /> less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this
<br /> Security Instrument. If BoROwer fails to pay these sums p�ior to the expiration of this pe�iod, Lender may invoke any remedies •..,�-�;±a
<br /> pertnitted by this Security Instrument without further notice or demand on Borrower. ;
<br /> 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have �
<br /> enforcement of this Security Instrument discontinued at any time prior to the ea�iier of: (a) 5 days '(or such other period as �
<br /> applicable law may speciy for reinstatement) before sale of the Property pursuant to any power of sale contained in this Securiry (
<br /> Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower. (a) pays Lender all �
<br /> sums which then would be due under this Security Instrument and the Note as if no acceleraUon had occurred; (b) cures any �
<br /> defeult of any other covenant or agreements; (c) pays all expenses incuRed in enforcing this Security Instrument, including, but �
<br /> not limited to, reasonable attomeys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of
<br /> this Securtty instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security �
<br /> Instrument shall continue unchanged. Upon reinstetement by Borrower, this Security Instrument and the obligations secured ' �
<br /> hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case
<br /> of acceleration under paragraph 17.
<br /> 19. Sale of Note; Chenge of Loan ServiCer. The Note or a a partial interest fn the Note (together wfth this
<br /> Security Instrument) may be sold one or more times wRhout p�lor notice to Borrower. A sale may resuft in a change In the entiry
<br /> (known as the "Loan Servicer") that collects monthy payments due under the Note and this Security Instrument. There also may
<br /> be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer,
<br /> Borrower will be given written notice of the change in accordance wfth paragraph 14 above and applicabie law. The notice will
<br /> state the name and address of the new Loan Servicer and the address to which payments should be made. The notice will also
<br /> contain any other information required by applicable law.
<br /> 20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of
<br /> any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the
<br /> Property that is in violaUon of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or
<br /> storage on the Property of smatl quantities ot Hazardous Substances that are generally �ecognized to be appropriate to normal
<br /> residential uses and to maintenance of the Property.
<br /> Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any
<br /> govemmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of
<br /> which Borrower has actual knowledge. If Borrower leams, or is notified by any govemmental or regulatory authority, that any
<br /> removal or other remedfation of any Hazardous Substance affecting Property is necessary, BoROwer shall promptly take all
<br /> necessary remedial actions in accordance with Environmental Law.
<br /> As used in this paregraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by
<br /> Environmentai Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic
<br /> pesticides and herbicides, volatile soNents, materials containing asbestos or formaldehyde, and radioactive materials. As used in
<br /> paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to
<br /> health, safety or envfronmental protection.
<br /> NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br /> 21. 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 not
<br /> prior to acceleration under paragraph 17 unless applicable law provides otherwise). The notice
<br /> shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than
<br /> 30 days from the date the notice is given to Borrower, by which the default must be cured; and
<br /> (d) that failure to cure the default on or 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
<br /> shall further inform Borrower of the right to refnstate after acceleration and the right to bring a
<br /> court action to assert the non-existence of a default or any other defense of Borrower to
<br /> acceleration and sale. If the default is not cured on or before the date specified in the notice,
<br /> Lender at its option may require immediate payment in full of all sums secured by this Security
<br /> Instrument without further demand and may invoke the power of sale and any other remedies
<br /> permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursufng
<br /> the remedies provided in this paragraph 21, including, but not limited to, reasonable attorneys'
<br /> fees and costs of title evidence.
<br /> If the power of sale is invoked, Trustee shall record a notice of default in each county fn
<br /> which any part of the Property is located and shall mail copies of such notice in the manner
<br /> prescribed by applicable law to Borrower and to the other persons prescribed by applicable law.
<br /> After the time required by applicable law, Trustee shall give publfc notice of sale to the persons
<br /> and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell
<br /> the Property at public auction to the highest bidder at the time and place and under the terms
<br /> designated in the notice of sale fn one or more parcels and in any order Trustee deterrr�ines.
<br /> Trustee may postpone sale of all or any parcel of the Property by publlc announcement at the
<br /> time and place of any previously scheduled sale. Lender or its designee may purchase the
<br /> Property at any sale.
<br /> Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's
<br /> deed conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence of
<br /> the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the
<br /> following order: . (a) to all costs and expenses of exercising the power of sale, and the sale,
<br /> includi gthe payment of the Trustee's fees actually incurred, not to exceed
<br /> Ten ?l�)--------------�_...------------------ p p
<br /> note at the time of the declaration of default, and reasonable attorney'shfeesi asi perm tted byflawe
<br /> (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons
<br /> legally entitled to it.
<br /> F1316.LMG (1/97) Page 4 of 5
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