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201209876
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201209876
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Last modified
7/20/2017 10:02:30 AM
Creation date
11/27/2012 9:09:59 AM
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DEEDS
Inst Number
201209876
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201209876 <br /> 15. Borrower's Copy.Borrower shall be given one conformed copy of the Note and of this Securiry <br /> Instrument. <br /> 16. HazardousSubstances.Boirower shall not cause or permit the presence,use, disposal, storage, or release <br /> of any Hazardous Substances on or in t6e Property. Borrower shall not do,nor allow anyone else to do, <br /> anytlung affecting the Property that is in violation of any Environmental Law. The preceding hvo sentences <br /> shall not apply to the presence,use,or storage on the Property of small quantities of Hazazdous Substances <br /> that aze generally recognized to be appropriate to normal residential uses and to maintenance of the Property. <br /> Borrower shall promptly give Lender written notice of any i¢vestigatioq claim,demand, lawsui[or other <br /> action by any govemmental or regulatory agency or private party involving the Property aud auy Hazazdous <br /> Substance or Envuonmental L,aw of which Borrower has actual knowledge. If Borrower learns, or is notified <br /> by any govemmental or regulatory authority,that any removal or other remediatiou of any Hazardous <br /> Substances affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions <br /> in accordance with Environmental Law. <br /> As used in this paragraph 16, "Hazardous Substances"are those substancesdefined as toxic or hazazdous <br /> substancesby Envuonmental Law and the following substances:gasoline,kerosene,other flammable or toxic <br /> peholeumproducts,toxicpesticidesandherbicides,volatilesolvents,materialscontainingasbestosor <br /> formaldehyde,and radioactive ma[erials.As used in this pazagraph 16, "Environmental Law"means federal <br /> laws and laws ofthe jurisdiction where the Property is locatedthat relate to health,saferyor environmental <br /> protection. <br /> Non-Uniform Covanants.Borrower and Lender fiuther covenant and agee as follows: <br /> 17. Assignmentof Rents.Borrower unconditionally assigns and transfers to Lender all t6e rents and revenaes <br /> of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and reveuues and hereby <br /> d'uects each teuant of the Property to pay the rents to Lender or Lender's agents. However,prior to Lender's <br /> notice to Borrower of Borrower's breach of any covenant or ageement in the Security Instrumeut, Borrower <br /> shall collect and receive all rents and revenues of the Property as trustee for the benefit of Lender and <br /> Borrower. This assignment of rents constitutes an absolute assigument and not an assignment for additional <br /> security only. <br /> If Lender gives notice of breach to Borrower. (a)all rents received by Borrower shall be held by Borrower <br /> as trustee for benefit of Lender only,to be applied to the sums secured by the Secwiry Instrument;(b) <br /> Lender shall be entitled to collect and receive all of the rents of the Property; and(c)each tenant of the <br /> Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand to the <br /> tenant. <br /> Borrower has not executed any prior assignment of the rents and has not and will not perform any act that <br /> would prevent Lender from exercising its rights under this paza�aph 17. <br /> I.ender shall not be required to enter upon,take control of or maintain the Property before or after giving <br /> notice of breach to Bonower. However,Lender or a judicially appointed receiver may do so at any time <br /> there is a breach.Any application of rents shall not cwe or waive any default or invalidate any other right or <br /> remedy of Lender. This assigoment of rents of the Proper[y shall terminate when the debt secured by the <br /> Security Instrument is paid in full. <br /> 18. ForeclosureProcedure.If Lender requires immediate paymeut in full uuder paragraph 9, Lender <br /> roay invoke the power of sale and any other remedies permitted by applicable law.Lender shall be <br /> entitled to collect all expenses incurred in pursuing the remedies under this paregraph 18,including, <br /> but not limited to, reasonable attomeys' fees and costs of title evidence. <br /> WdbrsquwerFin ncial8ervlces III II'll'llllll'IIII'IIII'IIIIIIIIIIIIIII III'IIII VMP4N(N�ee09o� <br /> q03312381356 0233 292 0710 <br /> � � � <br />
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