420 LAUREL DR 2018-01-02 MF Import

200304210985.013 release of any Hazardous Substance, and (c) any condifion caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any private parry, that any removal or other rentediarion of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmenul Cleanup. NON-UNIFORA7 COVENANTS. Borrower and Lender further covenant and agree as folbws: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreeme— in this Security Instrument (but not prior to acceleration under Section 18 unless .applicable Law provides otherwisf.). The notice shall specify: (a) the derault; (h) the action required to cure the default; (c) a date, oat less than 30 days from the date the notice is given to Borrower, by which the derault must be cured; and (d) that failure to cure the default on or before the date specified In the notice may result in acceleration of the sums secured by this Security Instrument and sale of tire Property of public auction at a date not Jess than 120 days in the future. The notice shall further Inform Borrower of the right to reinstate after acceleration, the right to bring a court action to assert the non-existence of a default or anv other defense of Borrower to acceleration and sale, and any other matters required to be included in the notice by Applicable Law. Ir the default is not cured on or berore the dale specified In the notice, Lender at its option, nmv require Immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale anti/or any other remedies permitted by Applicable Law. Lender shall be entitled to tolled all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power or sale, Lender shrill give written notice to Trustee of the occurrence or an event of default and or Lender's election to cause the Property to be sold. Trustee and Lender shall take such action regarding notice of sale and shall give such notices to Borrower and to othuf persons as Applicable Law may require. After the time required by Applicable Law and after publication or the entice of sole, Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice o'sa!e in one or Entire parcels and in any order Trustee determines. Trustee may postpone sale of the Property for a pt:rlo,l or periods permitted by Applicable Law by public announcement at llte time and place fixed In the notice of sale. Lender or its designee may purchase the Property at any sale. Trustee shall deliver to the purchaser Trustee's deed conveying the Property without any covenant or warranty, expressed or Implied. The recitals in the Trustee's deed shall be print.. facie evidence or the truth of the statements nude therein.. Trustee shall apply the proceeds or the sale in the rollowing order: (a) to all expenses of the sale, including, but not limited to, reasonable Trustee's and attorneys' fccs; (b) to all suns secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it or to the clerk of the superior court or the county it] which the sale took place. 23. Reconveyance. Upon paymcm of all suns secured by this Security Instrument, Lender shall request Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Tmstee shall reconvey the Property without warranty to the person or persons legally entitledto it. Such person or persons shall pay any recordation cosu acid the Trustee's fee for preparing die reconveyance. 24. Substitute Trustee. Ti, accordance with Applicable Law, Lender may from lime to time appoint a successor uustce to any Trustee appoimed hereunder who has ceased to act. Without conveyance of the Property, the successor trustee shal! succeed to all die title, power and duties conferred upon Trustee Serein and by Applicable Law. Initials. 1 xW, Q•6(WA)100121 Page 13 or 15 Fovn 3046 1101