|
VOL• 28643PAGE 44
<br /> 16.Borrower's Copy. Borrower shall be given one conformed copy of the No,e and of this Security Instrument. I
<br /> 17.Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is
<br /> sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without
<br /> •• Lender's prior written consent, Lender may,at its option, require immediate payment in full of all sums secured by this Security
<br /> Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this
<br /> Security Instrument.
<br /> If Lender exercises this option,Lender shall give Borrower notice of acceleration.The notice shall provide a period of not less
<br /> •
<br /> than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security
<br /> Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted
<br /> by this Security Instrument without further notice or demand on Borrower.
<br /> Ill.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 earlier of: (a) 5 days (or such other period as
<br /> applicable law may specify for reinstatement)before sale of the Property pursuant to any power of sale contained in this Security
<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 acceleration had occurred: (b)cares any
<br /> default of any other covenants or agreements; (c)pays all expenses incurred in enforcing this Security Instrument,including,but
<br /> not limited to,reasonable attorneys' fees;and(d)takes such action as Lender may reasonably require to assure that the her of this
<br /> Security 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 reinstatement 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 of
<br /> • acceleration under paragraph 17.
<br /> .i i.
<br /> 19.Sale of Note;Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security
<br /> •
<br /> Instrument) may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity(known
<br /> as the"Loan Servicer")that collects monthly payments due under the Note and this Security Instrument.There also may be one or
<br /> more changes of the Loan Service( unrelated to a sale of the Note. 'f there is a change of the Loan Servicer, Borrower will be
<br /> given written notice of the change in accordance with paragraph 14 above and applicable law.The notice will state the name and
<br /> •
<br /> address of the new Loan Service( and the address to which payments should be made. The notice will also contain any other
<br /> information required by applicable law.
<br /> 20.Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any E
<br /> :lazardous Substances on or in the Property. Borrower shall not do,r-:, 'flow anyone else to do,anything affecting the Property
<br /> that is in violation of any Environmental Law.The preceding two sen.aa:as shall not apply to the presence,use,or storage on the z
<br /> Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses `°
<br /> and to maintenance of the Property.
<br /> Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other a;tian by any t
<br /> governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law •
<br /> of which Borrower has actual knowledge. If Borrower learns,or is notified by any governmental or regulatory authority,that any
<br /> removal or 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.
<br /> As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by 1
<br /> Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic 1
<br /> pesticides and herbicides, volatile solvents,materials containing asbestos or formaldehyde, and radioactive materials. As used in
<br /> this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate
<br /> •
<br /> to health,safety or environmental protection. :,
<br /> a.
<br /> NON-UNIFORM COVENANTS.Borrower and Lender further covenant and agree as follows: I
<br /> 21.Acceleration; Remedies.Lender shall give notice to Borrower prior to acceleration following Borrower's breach of
<br /> any covenant or agreement in this Security Instrument (hut not prior to acceleration under paragraph 17 unless
<br /> applicable law provides otherwise).The notice shall specify: (a)the default; (b)the action required to cure the default; (e) '''
<br /> a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and(d)
<br /> that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured 1
<br /> by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the ri,;Si to reinstate
<br /> after acceleration and the right to bring a court action to assert the non-existence of a default or any other lefenrre of .1
<br /> • Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender,at its
<br /> option, may require immediate payment in full of all sums secured by this Security Instrument without further demand
<br /> and may invoke the power of sale and any other remedies permitted by applicable law.Lender shall be entitled to collect
<br /> all expenses incurred in pursuing the remedies provided in this paragraph 21, including, but not limited to, reasonable
<br /> attorneys'fees and costs of title evidence.
<br /> If Lender invokes the power of sale, Lender shall give notice of sale in the manner prescribed by applicable law to
<br /> Borrower and to the other persons prescribed by applicable law.Lender shall publish the notice of sale,and the Property Pe y t .:<
<br /> shall be sold in the manner prescribed by applicable law. Lender or its designee may purchase the Propc•^y at any sale.
<br /> The proceeds of the sale shall be applied In the following order:(a)to all expenses of the sale,including,but not limited to, i
<br /> reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the clerk of the
<br /> circuit court of the county in which the sale is held.
<br /> Form 305�0,(teo
<br /> t�-5R(WI)(22121 Pigs Soil Intlll4:/ I
<br /> yJEz4s -
<br />
|