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201402085
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Last modified
7/20/2017 10:50:19 AM
Creation date
4/10/2014 2:07:41 PM
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DEEDS
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201402085
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��14���55 <br /> '15. Borrower`s Cvpy.Borra�ver shall be given one conformed copy of th�No��and of�his Security <br /> Instrument. <br /> '!�. HazardousSubstances.Borrower shall not cause or permit the presence,use, disposa�, storage, or re�ease <br /> of any Ha�ardous Substances on or in the Praper�. Borrower shall not d�,nor allovv anyone else to do, <br /> any�hing affecting the Property tha�is in violation of any En�ironmental Law. Th�preceding fiwo sentences <br /> shall not apply to the presence,use,or storage on the Property of small quantities of Hazardous Substances <br /> that are generally recognized to be appropr�ate to normal residential�ses and to maintenance�f�he Property. <br /> Borrower shall promptiy g�ve Lender written notice of any in�estigat�on,clairn,demand, lawsuit ar other <br /> action by any governmental or r�gulatory a�ency or privat�party invol�ing the Property and any Hazardous <br /> Subst�nce or Environmenta.l Law of which Borrower has actual knowledge. If Borrower learns,or is notified <br /> by any governmental or regulatory authority,that any removal or other remediation�f any Ha�ard�us <br /> Substa�ces affecting the Property is necessary,Bonower sha11 promptly take all necessary remedial actions <br /> �n accordance with En�ironmental La�v. <br /> As used in this paragraph 16, "Hazardous Substances"are�hos�substa.nces d�fined as tnxic or hazardnus <br /> substanc�sby Enviranmental Law and the follo�ving subs�a.nces:gasoline,kerosene,other f�ammable ar toxic <br /> petroleum products,tox�c pestici�es and herbicides,�o�atil�solvents,materials containing asbestos or <br /> forma�dehyde,and radioacti�e mat�rials.As used in this paragraph 16, "Environment�.1 Lav�"means federal <br /> 1a�rs and�aws of the jur�sdic�ian where�he T'roperty xs locatedthat relate to health,safety ar enviranmental <br /> protection, <br /> Non-Uniform�avenants.$orrower and�.ender further covenant and agree as fallows: <br /> �17. Assignmentof Rents:Borrower uncondi�ionally assigns and transfers to Lender a11 the rents and revenues <br /> af the Pr�per�y. Barro��r authorizes Lend�r or Lender`s a�ents to collect th�rents and revenues and hereby <br /> directs each tenant af the T'roperty to pay the r�nts to Lender or Lender's agents. However,prior to Lender's <br /> notice to Borrower of Borarower's breach nf any cavenant ar agreement in the Security Instrument,Borrower <br /> sha��co�Iect and rece�v�a�1 rents and revenues af t�.e Pr�o�er�r as tru.stee�'�r the benef�o�`Lender and <br /> Borrower. This assignment of rents constitutes an absolute assignme�.t and not an assignment�or additional <br /> securi�y on1y, <br /> If Lender gi�es notice of breach to Borrow�r: �a}a11 rents received by Borrower shall be h�ld by B�rrower <br /> as trus�ee f�r benefit of Lender only,to be applxed�o the sums secured by�he S�curity Instrument; (b) <br /> LendeF s�a���e en��t�ed ta co��e�t aad rece��e a��of���rents af the Property;an.d(c)each tenan.t of the <br /> Propert�shall pa�all ren�s due and unpaid to Lender or Lender's agent on Lender's vvritten demand to the <br /> tenant, <br /> Borrower has not�xecuted any prior assignment�f the rents and has na�and wi11 not perform any act that <br /> would pre��nt Lender fram ex�rcising its r�gh�s under this paragraph 17. <br /> Lender shati nat be requued to enter upon,�a.ke control of or maintain�he Pr�perty before or af��r giving <br /> notice of breach to Barrawer, Howe�er,Lender ar a judicially appointed receiver may da so at any tim� <br /> there is a breach.Any application of rents shall not cure or waiv�any default ar invalidate any other right or <br /> remedy of Lender. Th�s assignment of ren�s of the Property sha11 terminate�vhen the debt secured�y the <br /> Security�nst�ument is paid in fu11. <br /> �I$. Forec�osunePnocec�u�re,If Lender req�.�res�rnmediate�ayment in fu�� ux�der paragraph 9� Lender <br /> may�nv�ke the p�wer of sale and any vther remed�e�permitted by applicable law.Lender shall be <br /> en��tled to collect all exp�nses in�urred i�n�ursuing the remedies under this paragraph 1$,including, <br /> but not lim�ted to,reasonable at#tirneys'fees and costs af title evidence. <br /> .. t.._ <br /> FHA Mortgage 1lVITH MERS-NE �� Rev�sed 419B <br /> VMP C�3 VMP4N(NE}��342}.44 <br /> Wo�ters#4�t�wer�irrarreial Serviees Page?of 9 4 <br /> q033252913�4 4Z33 348 �71� <br />
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