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201204115 iiiioe3oea 14. Governing Law; Severabil9ty. This Security Instrument shall be governed by federal law and the law af the jurisdiction in which the Property is located. In the ovent that any provision or clause of this Security Instrumant or the Nota conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Nota which can be given effect without tha conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 15. Borrower's Copy. Borrowar shall ba given one conformed copy of'this Security Jnstrument. 16. Hazardous Substances. Borrower shall not cause or parmit the presence, use, disposal, storage, or release of any Hazardous Substances on or in tha Property. Bonower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmantal Law. The prcceding two sentences shall not apply to the p'resence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to ba appropriata to normal residential uses and to maintenance of the Property. Bonower shall promptly give Lender written notica of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Bnvironmental Law of which Bonower has actual knowledge. If Borrower leams, or ia noti�ed by any governmental or regulatory authority that any removal or other remediation of any Hazardous Substances affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. As usad in this paragraph.l6, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, valatile solvents, materials containing asbestos ar formaldehyde, and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection. NON-LJNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows; 17. Assignment of Reats. Borrower unconditionally assigns and transfers to Lender all thc rents and revenues of the Property. Borrower authorizes Lendar or Lender's agents to collect the rents and revenues and hareby directs each tenant of the Proparty to pay the rents to Lender or Lender's agents. Hawever, prior to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borro,wer shall collect and receive all rents and revenues of the Property as trustee for the benefit of I.ender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If I.ender gives notica of breach to Borrower: (a) all rants received by Borrower shall be held by Borrower as trustee for benefit of Lender only, to be appliad to the sums s6cured by tha Security Instrument; (b) Lender shall ba entitled to collect and receive all of the rants of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or Lander's agant on Lander's written demand to the tenant. Borrower has not executed any prior assignmant of the rents and tias not and wip not perform any act that would prevent Lender from exarcising its rights under thia Paragraph 17, Lender shall not be required to enter upon, take control of or maintain tha Proparty before or after giving notice of breach to Borrower, However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall not cura or waive any default ar invalidate any other right or remedy of Lender, This assignment of rents of the Property shall terminate when the dabt secured by the Security Instrument is paid in full, 18. Foreclosure Procedure. If Lender reyuires immediate payment in full under Paragraph 9, Lender may foreclose this Security lnstrument by judicial procseding, Lendar shall be entitled to collect all expenses incurred in pursuing tha remedies provided in this Paragraph 18, including, but not limited to, FHA Nebraska Deed of Trast - 06/11 a� 391.11 Paga 6 of 8