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201305717
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Last modified
12/31/2013 6:23:49 PM
Creation date
7/16/2013 11:14:52 AM
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DEEDS
Inst Number
201305717
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201305717 <br /> provisions of this Security Instrument or the Note which can be given effect without the conflicting <br /> provision.To this 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 confonned copy of the Note and of this Security <br /> 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 <br /> else to do,anything affecting the Property that is in violation of any Environmental Law.The preceding <br /> two sentences shall not apply to the presence,use,or storage on the Property of small quantities of <br /> Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to <br /> maintenance of the Property. <br /> Borrower shall promptly give Lender written notice of any investigation,claim,demand,lawsuit or other <br /> action by any governmental or regulatory agency or private party involving the Property and any Hazardous <br /> Substance or Environmental Law of which Borrower has actual knowledge.If Borrower learns,or is <br /> 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 hazardous <br /> substances by Environmental Law and the following substances:gasoline,kerosene,other flammable or <br /> toxic petroleum products,toxic pesticides and herbicides,volatile solvents,materials containing asbestos <br /> or formaldehyde,and radioactive materials.As used in this Paragraph 16,"Environmental Law"means <br /> federal laws and laws of the jurisdiction where the Property is located that relate to health,safety or <br /> 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 and <br /> 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, <br /> prior 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 <br /> benefit of Lender and Borrower.This assignment of rents constitutes an absolute assignment and not an <br /> assignment for additional 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 Security 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 <br /> the tenant. <br /> Borrower has not executed any prior assignment of the rents and has not and will not perform any act <br /> 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 giving <br /> notice of breach to Borrower.However,Lender or a judicially appointed receiver may do so at any time <br /> 3213258345703 1186401430 <br /> FHA Deed of Trust-NE Revised 4/96 <br /> VMP® as 12/11 <br /> Wolters Kluwer Financial Services 201307054.1.1.2529J20120112Y Initials Page 7 of 10 <br /> 11 I I 11 111)1>3�_ '3 <br />
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