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201302658
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4/2/2013 4:12:35 PM
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4/2/2013 4:12:34 PM
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DEEDS
Inst Number
201302658
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the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this <br />Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions <br />of this Security Instrument or the Note which can be given effect without the conflicting provision. To this <br />end the provisions of this Security Instrument and the Note are declared to be severable. <br />15. Borrower's Copy, Borrower shall be given one conformed copy of this Security Instrument. <br />16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, <br />or release of any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to <br />do, anything affecting the Property that is in violation of any Environmental Law. The preceding two <br />sentences shall not apply to 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 />the Property. <br />Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or <br />other action by any governmental or regulatory agency or private party involving the Property and any <br />Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower learns, or <br />is notified by any governmental or regulatory authority that any removal or other remediation of any <br />Hazardous Substances affecting the Property is necessary, Borrower shall promptly take all necessary <br />remedial actions in accordance with Environmental Law. <br />As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or <br />hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other <br />flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials <br />containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 16, <br />"Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that <br />relate to health, safety or environmental protection. <br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: <br />17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents <br />and revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues <br />and hereby directs each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior <br />to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in the Security <br />Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the benefit <br />of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment <br />for additional security only. <br />If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by <br />Borrower as trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrument; <br />(b) Lender shall be entitled to collect and receive all of the rents of the Property; and (c) each tenant of the <br />Properly 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 <br />act that would prevent Lender from exercising its rights under this Paragraph 17. <br />Lender shall not be required to enter upon, take control of or maintain the Property before or after <br />giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any <br />time there is a breach. Any application of rents shall not cure or waive any default or invalidate any other <br />right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secured by <br />the Security Instrument is paid in full. <br />18. Foreclosure Procedure. If Lender requires immediate payment in full under Paragraph 9, <br />Lender may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all <br />expenses incurred in pursuing the remedies provided in this Paragraph 18, including, but not limited to, <br />reasonable attorneys' fees and costs of title evidence. <br />FHA Nebraska Deed of Trust - 06/12 <br />391.17 Page 6 of 8 <br />201302658 <br />1111070094 <br />
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