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2012042��
<br />reinstatemant will preclude foreclasure on different grounds in tha futura, or (iu) reinstatement wiU adversely
<br />affect the priority of the lien created by this Security Instrument
<br />il. Borrower Not Relc�sed; Forbearance By Lender Not a Waiver. Bxtension of the time of
<br />payment or modification of amorti�ation of the sums secured by this Security Instrument granted by Lender
<br />to any successar in interest of Borrower sha71 not operate to release the liability of the ong�a1 Boaower or
<br />Boaower's successor in interest. Lender shall not be r.equired ta commence proceedingssg ainst any
<br />successor in i�erest or refuse to extend time for payment or otherwise modify amortizatian of the sums
<br />secured by diis Secunty Instrument by r�ason of any demand made by tha original Borrower or Borrower's
<br />successors in interes� Any forbearance by Lender in exercisuig aay right or remedy shall not be a waiver of
<br />or precluda the exercise of any right or remady.
<br />12. Successoirs and Assigns Boand; Joint and Several Liability; Co-signers. The covenants and
<br />agreements of this Security Instivment shall bind and benefrt the sucxessoxs and assigns of Lender and
<br />Borrower, subject to the provisions of Para�raph 9(b). Borrower's covenants and agreements shaU be joint
<br />and several. Any Borrower who co-si�ns thzs Security Insirument but dces not execute the Note: (a) is co-
<br />signing this Security Instrument only to mortgage, grant aad convey that Borrower's interest in the Pro�
<br />under the terms of this Security Inswment; (b) is not personally obligated to pay the sums se�ured by tluus
<br />Sec�uity instrument; and (c) agrees that Lender end any other Borrower may agree to eactend, m�i�+, forbear
<br />or make any accommodations with regard to the teim of this Security Instrument or the Nate v�nthout that
<br />Borrower's consen�
<br />13. Notices. Any norice to Borrower provided for in this Security Instrument shall be given by
<br />delivering it or by mailing it by ftrst class mail unless applicable law requires use of another method. The
<br />notice shall be directcd W the Prop�y Address or any other address Borrower desi�ates by norice to
<br />Lender. Any notice to Lender shall be �iven by first cless mail to Lender's address stated herem or airy
<br />address Lender designates by notice to Borrower. Any notice provided for in this Security Instrumeat shall be
<br />deemed to have been grven to Borrower or Lender when �iven as provided 'm tlus paragraph
<br />14. Governin� Law; Severebility. This Sec�mty Instrument shaU be governed by Federal law and
<br />the law of the jurisdic�on in which the Property is located. In the event that any provision or clause of this
<br />Security Instrume� or the Note conflicts w�th applicable law, such conflict shaU not affect other provisions
<br />of this Security Instavment or the Note which can be given effect without the conflictmg provision. To this
<br />end the provisions of this Secwity Instrunaent and the Note are declared to be severable,
<br />15. Borrower's Copy. Boaower shall be given ona conformed copy of the Note and of this
<br />Security Instrument.
<br />16. Ha�ardons Substences. Borrower shall not cause or permit the presence, use, disposal, storage,
<br />or release of any Hausrdous Substances on or in the Property. Borrower shall not do, nor allow aayone else to
<br />do, anything affec�ing the Property that is in violation of any Environmental Law. The preceding two
<br />sentences shall not apply W the presence, use, or storage on the Property of small quantities of Hazardous
<br />Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of
<br />� ���Borrower shaU promptlygtve Lender vvritten notice of any iavestigation, claim, demand, lawsuit or
<br />other action by any governmental or regulatory agency or private� mvolvmg the Properly and any
<br />Ha�rdous Substance or Environmental Law of which Borrower has laiowledge. If Brnrower learns, or
<br />is notified by any govemmental or regulatory authority, that any removal or other rem�iation of any
<br />Hazardous Substances affecting the Property is necessary, Borrower shaJl promptly take all necessary
<br />remedial actions in accordance with Environmental Law.
<br />As used 'm this paragraph 16, "Hazardous Suhstances" are those substances defined as toxic or
<br />hezardous substances by Environmental Law and the following substances: gasoline, kerosene, other
<br />flammable or toxic petroleum products, toxic pesticides and herbicides, volatila solvents, materials
<br />containing asbestos or formaldehyde, and radioa�tive materials. As used 'm the panygt�aph 16, "Environmental
<br />I.aw" means federal laws and laws of the jurisdicrion where the Property is located that relate to health,
<br />safety or environmental pro�tectian.
<br />NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />17. Agsignment of Rents. Borrower unconditionally assigas and taansfers to Lender aJl tha rents
<br />and revenues of the Property. Borrower authorizes Lender or Lenda's agents to collect tha re� and revenues
<br />and hereby directs each tenant of the Progerty to pay the rents to I,ender or Lender's agents. However, prior
<br />to Lendei's notice to Borrower of Botrower's breach of any covenant or agreement in the Securiry
<br />Instrumeat, Borrower shall collect and receive all rants and revenues of the Property as trustee for the benefft
<br />of Lender and Borrower. This assignment of re�rts constitutes an absolute assignment and not an assignmern
<br />for additional securit� only.
<br />ff L$nder g�ves notice of breach to Boaower. (a) a11 rents received by Borrower shall be held by
<br />Borrower as tcvst� for benefit of Lender only, to be applied to the sums secured by the Security Instrumant;
<br />(b) Lender shall be entitled to c�ollect and recaive all of tha rents of the Properry; and (c) each tenant of the
<br />Property shall pay all rents due and u�aid to L,ender or Lender's agent on Lender's written demand W the
<br />tenan� , .
<br />Borrower has not executed any prior assignment of the rents and has not and will not �rform any
<br />act that would prevent Lender from exerc�smg its rights under this Paragraph 17.
<br />Lender shall not be requined to enter upon, take control of or mamtain the Property bafore or after
<br />giving notice of breach to Borrower. However, Lender or a judicially appointed raceiver may do so at any
<br />time thera is a breach. Any a�plication of rents shall not cure or warve any default or invalidate any other
<br />right or remedy of Lender. Th�s assignment of rents of the Property shall ternunats when the debt secured by
<br />the Security Instrument is paid in fiill.
<br />1$. For�losure Proc�iure. If Lerider requires immediate payment in full ander Paragrap6 9,
<br />I,cnder may invoke the power of sale aad any other reme�lies permitted by Applicable Law. Lender
<br />shall be entitled to collect all expenses incurred in pursaing the remedies provided in this Section 18,
<br />inclading, bat not limited to, rcasonable attorneys' fe� and costs of title evidence.
<br />If the power of sale is invoked, Trustee shaU r�ord a notice oidefaalt in esch county in whicb
<br />any part of the Property � located and shall mail copies of such notice in the manner prescribed by
<br />Applicable Law to Borrower and to the other �rsons prescrlbed by Applicable Law. Aftcr the time
<br />reqaired by Applicable Law, Trustee shell�ive public notice of sale to t6e persons and in t6e manner
<br />prescribed by Applicabie Law. Trastee, wltiiout demand on Borrower, s6sU sell the Property at public
<br />suclion to the highest bidder at the time and place and uoder the terms designated in the notice of sale
<br />in one or more parcels and in aay order Trastee determines. Trustee may postpone sale of all or sny
<br />parcel of the Property by public annonncement at the time and place of any prevlonsly scheduled sale.
<br />Lender or its designee may pnrchase the Property at any sale.
<br />16256.CV (9/ll) 0115035
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