201404662 - Laserfiche WebLink

Browse

��14�4�� 14. �a�erning Law; Severability. This Securi�y Ins�ent shall be go�erned b�federal.xaw and fihe �aw af �.he jurisd�etion in which�he Praper�y�s Ioca�ed. Ir��he even��hh.at any pr��,sxan or clause of�his Securxt�Instrument or the No�e canfl�ic�s�v�ri�.i app�xcable law, such confl�ct sha.11 not affec�ofiher provxsions of th�s Securifiy Ins�en� or�he Note which can b�gi�en effec��fihout�h.�conflxc�in.g prov�ision. To�hi.s end�he pro�ri.si�ns of�ais Secur��y Lns�rurnent and the Note are dec�ared�n be severable. 15. B�rrawer�s�opy, Borro�v�rer sha11 be gi.�en one canfnrmed copy af the Na�e and of�hi.s Securt.ty Instrument. 16. I�azardous Substances. Barro�rer sha�I not cause or permit�he presence,use, c�ispasa�, storage, or r��ease of any Hazardous Substances on or in�he Prop�rty. Borrower sha.l.��nt do, nor a.�.�ow anyone else to do, anyth�ng affec�ing the Property�ha�is in violatxon af any Environmental Law. The preceding�a senten�ces shai�not app�y to the presence, use, or storage on the Proper�y �f small quan.�.ties of Hazardous Substances �ha� are general�y recognized�o be appropr�a�e to normal residen�.a�uses and to maix��enance af�.he Prvperty. Borrower shall prompt�y give Lender writ�en no�zce af any invest�ga�on, clairn, dema.n.d, xawsu�t or other ac�i�n by any ga�ernrn,en�a1 ar regulatory agency ar prx�ate partSr in�oivi.ng the Property and any Hazardous Substance or Env�.ronmen�a.�L�.w of�vhich Borrawer ha.s actua�knawledge. If Borrower I�arns, or is natif ed by any �o�ernrri�nta�or regul.atory au�.�r�ty, �hat any remova�or other remedia�.on of any Hazardous Subsf;aan.ces affecting the Proper�y rs necessary, Barrower sha.Il prompt�y �ake all necessary remed.�a� act�ons in accord.a.nce �th Environrnental La�r. As used in. �his paragraph I�, "Hazardous Subs�an.ces" are those subs�ances defu�.ed as toxi.c or hazardou.s substances b�r Ex��i.ranmental Lav� and �he fai�av�ring subs�an.ces: gasoline, kerasene, other �lammab�e or toxic pe�ro�eum producxs, �vx�c pesticides and herb�c�d�s,�ola�ile so�vents, mater�a�s confiain.ing asbes�os ar for�rna�dehyde, a�.d radioactive m.a�er�als. As used in�us paxa.graph 16, i'Env�ronrne�.ta�Lavv" mean.s federal Ia�rs and Iaws of the jurisdiction where�the Proper�y is �oca�ed tha.�relate�a heal�h, safety or en�rironmen�al protec�xon. N�N�-U N�FC�F�M ��VE NANTS. Barra�rer and Lender fi.�r�her cavenant an�.agree as follows: 17. Ass�gnm�nt of Rents. Borrower un�ondi��ona��assxgns and�ran.sfer�to I�ender all�h.e rents arid revenues of the Prop�rty. Borra�rer authorizes Lender or Lex�der's agents ta collec�the ren�s and revenues and hereby directs each�enant of the Prop�rty�o pay the rents to Lender or Lender's agents. Howe�er, pr�or �ta Lender's no�ice�a Barrau�er of Borro�ver{s breach�f any ca�renan�ar agreem�n�in the Secur�t�r Ins�rument, Borr�wer sha,l.�collect aaad receive aI1 ren�s and r��enues of�he Propert�as�rustee far the hene�.t of Lender and Barrower. This assignment of � ren�s cans�i�ut�s a.n abso�ute ass�gnment an.d not an assignment for add��iona.l. security on1y. If Lender gi.�res not�ce�f hreach to Barrovver: �a� a�x ren�s re�eived by Borra�rer shall be held by Borrower as trustee for benef�t of Lender on�y, tio b�applied.to�e sums secured by the Securifiy Ins�rument; �b}Lender shall be entitled to col�ec�an.d�reeei�e a1I of�he re�a�s of the Property; an.d�c)each tenant of the Property shall pay all rents �iue and unpaid�o Lender ar Lender's agent on Lender's writ�en dema.nd ta��ena,n�. $orrower has na�execu�ed any prior ass�gnmen�of the ren�s a�a,d has no�and v�ri.11 not perform an.�act tha�vvould pre�ren�Le�nder from exercising xts rxghts under tbis paragraph I7. Lender shall not be required to en.�er upon, tak�can�ro�of or maintain the Prop�arty befare or after gi.ving no�.ce of br�ach�o Barrower. Howe�er, Lender nr a jud.Ycial.ly appninted re�eiver may do so at any t�me ther��s a breach. � Any app��cation vf ren�s shali not cure or vvaive any defaul�or invalida�e a.ny other right or remedy of Lender. This assignmen�af rent�of�.he Praperty shall termi.na�e when the debt secured by the Securi�In.s�rument�s paid in full. 18. Foreclosure Pr�cedure. If I.ender reqwiree��mmedi�ate payment xa full under paragraph 9,I�nder may in�oke the power of sale and an�uther remedies p�rmii#ed by applicab�e xaw. Lender shall be entitxed to collect all expenses�nCurred in pursuing the remed�es pro�ided in this paragraph 18, incxuding, but not li.mi�ted to, reasonabie attorneys' f�es and cvsts of t�tle evxdence. If th�pawer of sale is xa�roked, Trustee shall record a notice of defau�t in each count�in vWh�ich any par�af th� Property �s xocated and shaxx mail copYes of such not�ce in the manner prescY-nb�d b� applicabxe iaw to Borrower and to the other persons prescr�.bed by applicabl.e �avv. After the time required by applicabxe xaw, Trustee, shall g�►ve public not�ce�f�axe to tbe persons and in thQ manner prescrnbed b�applicable�a�v. Trustee, without demand vn Barrower, shall sell the Property at public auciion ta the higbest b�dder at the ti�me and FHA N EBRAS�C►4 DEED aF TRU�T - {UIERS ��$�� N EDOTZ.FHA �7'1 D 31'f� Pag e � of 9 ww��+.c�ac.rrragic.cnm � r� � ' . � �'_ � - -- �