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98- V7'US 98-- 105&®5 Any notice to Lender shall be given by first clans mail to Lender's address stated-herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severability_ This Security Instrurr,r,nt:shall be governed by Federal law and the law of the jurisdiction in which the Property is located. In 'the event: that any provision or clause of this Security Instrument or the Note confl:rts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the. Note which can be given effect w. tloottt the conflicting provision. 'To this end the provisions of this Security ;Instrument anti the Note are declared to be severable. 15. 13ozrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument, 16. Hazardous Substances. Borrower shall not, cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property. Borrower ;hall not do, nor allow anyone else to do, anything arfecting the Property that is in violation of any Environmental Law, The preceding two sentences shall not apply to the presence, use, or storage on tie Property of small quantities of hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall promptly give I--ndPr writt:er,, notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any I-,azardous Subiftance or Environmental Law r,'P which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that any removal or other remediation of any Hazardous Substancesaffecti-ngthe Property is r►ecessriry, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 16., "Hazardous Substanceo" are these substances defined as toxic or hazardous substances by 1 nvironmcnial Law and the following substance,-: gasoline, kerosene. other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile salvents, materials containing asbestos or formaldehyde, and racli.oactive materials. As used in this paragraph 16, "Environmental Law" means federal laves and laws of the jurisdiction whcre the I'roper,.v is located that relate to health, safety or environmental protection. NONUNIFORM COVENANTS. 3orrawer and Lender further covenant and agree as follows: 17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property. Burrower authorizes Lender or Lender's agents to celiect the rents and revenues and hereby directs each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Bot-rower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. 'This assignment of rents constitutes an absolute. assignment and not an assignment for additional security only. 1f Lender gives notice of breach to Borrow r: (a) all rents received by Borrower shall be held by Borrower as trustee for benefit of Lender only, to be applied to the sums secured by the Security I-1strument; (b) Lender shall be entitled to collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents; due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant. Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent I.,ender from exerci Sing its rights under this paragraph 17. Lender shall not be required to enter upon, take control of or maintain the Property 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 cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secured by the Security i;n.strumentis paid in full. - 4R(NE) phle G of a Initials. d !k