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�Q�207464 15. Borrowers Copy. Bonower shall be given one conformerl copy of the Note and of this Security Instrument. 16. Hazardous Substances. Bonower shall not cause or permit the presence, use, disposal, storage, or release of any Hazazdous 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 Ha7ardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Properly and any Hazardous Substance or Environmental Law of 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 Substances affecting the Properiy is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental L.aw. As used in this pazagraph 16, "Ha�ardous Substances" aze 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 pazagraph 16, "Environmental Law" means federal laws and laws ofthe jurisdiction where the Property is located that relate to health, safety or environmental protection. Plon-Uniform 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 Properly. Bonower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs e,ach tenant of the 1'roperty to pay the rents to Lender or Lender' s agents. However, prior to Lender' s notice to Bonower of Bonower's bre,ach of any covenant or agreement in the Security Instrument, Borrower shall collect and receive a11 rents and revenues of the Property as trustee for the benefit of Lender and Bonower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Bonower as trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender sha11 be entitled to collect and rec;eive all of the rents of the Properiy; 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 ex�uted 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 pazagraph 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 se.cured 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 entitled to collect all ezpenses incurred in pursuing the remedies under this paragraph 18, including, but not limited to, reasonable attorneys' fees and costs of title evidence. 8801288840 8801298840 FHA Mortgage WITH M9tSNE Revised 4/96 VMP � VMP4N(Nq (1109) Woltera Kluwer Flnenclal Servioea Page 7 0l 10 �\\ � �