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�0�206�79 14. Governing Law; Severability. Tlus Security Instrument shall be governed by federal law and the law of the jurisdiction in wluch the Property is loca,ted. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrtiment and the Note are declared to be severable. 15. Borrower's Copy. Bonower sha11 be given one conformed copy of the Note and of this Security Instrument. 16. Hazardous Substances. Borrower sha11 not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property. Bonower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazazdous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Bonower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any govemmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual l�owledge. ff Borrower learns, or is notified by any governmental or regulatory authority, that any removal or other remediation of any Hazacdous Substances affecting the Property is necessary, Bonower shall promptly take all necessary remedial acrions in accordance with Environmental Law. As used in this paragraph 16, "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, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this patagraph I6, 'Bnvironmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protecrion. NON COVENANTS. Bonower 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. Borrower authorizes Lender or Lender' s agents to collect the rents az►d revenues and hereby directs each tenant of the Properly to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Bonower of Bortower' s breach of any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Properiy as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for addirional security only. If Lender gives notice of breach to Bonower: (a) all rents received by Bonower shall be held by Borrower as trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrument; (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. Bonower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender from exercising 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 Instrument is paid in full. 18. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entlUed to collect all expenses incurred in pursuing the remedies provided in this paragraph 18, including, but not limited to, reasonable attorneys' fees and costs of t3tle evidence. If the power of sale is invoked, Trustee shall record a notice of default in each county in w}uch any part of the Property is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable law. After the time required by applicable law, Trustee, shall give public notice of sale to t6e persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shaIl sell the Property at public suction to the highest bidder at the time and FHA NFBRASKA D� OF TRUST - MERS � NEDOTZ.FHA 07/03112 Page 6 of 9 www.doanaglc.com ul�ll�l ��II�) I�II�I IIII I I II I II II I I IIIIII IIII�'lll III