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201405061
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Last modified
7/20/2017 8:19:39 PM
Creation date
8/18/2014 11:16:48 AM
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DEEDS
Inst Number
201405061
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��14�5��1 <br /> �( L <br /> 'I S. HazardousSubstanc�s.Borrower shal�not cause or permit the presence,use, disposa�, stnrage, or release <br /> of any Hazardous Substances on or in the Property. Borrower shall not do, nor a11ow anyone e�se ta do, <br /> anything affecting the Property that is in violation of any En�iranmenta�Law. The pre�ed�ng twa sentences <br /> sha��not apply to the presen�e,usea ar stora.ge an the Property of sma11 quantities of Hazard�us Substances <br /> �ha.t are generally re�ogn�zed to be appropriate to normal res�dential uses an�to maintenane�of the Property. <br /> Borrower shall promptly gi�e Lender written nvtice of any �nv�stigation, ��aim, demand, lawsuit or o�her <br /> action by any governmental or regulatvey agency or private party inv��ving the Proper�y and any Hazardous <br /> Substance or Environmental Law of which Borrower has actual knowledge. �f Barrower�earns, or is noti�ed <br /> by any governmental or regulato�y au�hari�, that any removal or other remediatian of an�Ha�ardous <br /> Substan�es affect�ng the Property �s n�cessa�y, Borrower sha��prompt�y take all necessary remed�al actions <br /> in accordance w��h En�ironmenta�Law. <br /> As used in this paragraph 1�, "Ha�ardous Substances'4 are those substan�es def�ned as toxr�or hazard�us <br /> sut�stanc�s by Environmental Law anc�the following substances: gasvline, kerosene, other#lammable or <br /> toxic petro�eum prociucts,to�ic pestacides and herbic�des,vo�atile salvents, materials cvntaining asbestos or <br /> farmaldehyde, and ra.dioactive materials. As used iri this paragraph 16, "En��ranmental Law" means federal <br /> laws and�aws of the jurisdiction where the Property is located that relate�o health, safe�y or�n�ironmental <br /> protection. <br /> Non-Uniform C��enants.Borrower and Lender further covenan�and agree as fa��aws: <br /> 'I T. Assignm�rttof R�nts.Borrvwer uncond�tionally assigns and�ransfers to Lender all the rents and revenues <br /> of the Fra�erty. Borrower authorizes Lender flr Lender's agents�o callect the rents and re�enues and hereby <br /> directs each tenant of the Property to pa��he rents t�Lender or Lender's agents. Howe�er,prior to Lender's <br /> notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borr�wer <br /> sha11 collect and receiv�a11 rents an�re�enues�f the Property as trustee for the benefit of Lender and <br /> Borrower. This ass�gnment�f rents constitutes an absalute assignment and not an assignment for additional <br /> security only. <br /> If Lender g�ves notice of breach ta Borrvwer: �a}a11 rents rece��ed by Bvrrower sha11�e held�y Borra�ver <br /> as trustee for benefit of Lender on1y, ta be app�ied to the sums secured by the Security Instrument; <br /> (b}Lender sha11 be entitled�o collec�and recexve a11 of the rents�f the Proper�; and(c}each tenant of the <br /> Property sha�l pay all rents due and unpai�ta Lender or Lender's agent on Lend�r's written demand to the <br /> tenant. <br /> Barrower has nat executed ar�y priar assignment af the rents and has not and�i��not perfvrm an� act that <br /> would prevent Lender from exercising its rights under this paragra.ph 17. <br /> Lender sh�.�1 not be required to enter upon, take control af or ma.intain the Praperty before or after giving <br /> notice�f�reach to Borrvwer. However,Lender or a judiciall�appointed reeeiver may do s� at�ny time <br /> there is a breach. Any app�icativn of rents sha.11 not cure or wa��e any defau���r invalidate an��ther right or <br /> remedy�f Lender. This assignment of rents of the Property sha11 termina�e when the deb�secured by the <br /> Securi� �nstrument is pa�d in fu�l. <br /> '18. ForeclosureProcedure.If Len�ier requires immediate payment in ful�under paragraph 9, Lender <br /> may in�oke the power of sale and any other remedies permitted by ap����able law.Lender shall be <br /> entitled to�ollect all expenses incurred�n pursuing the remedies under th�s paragra�h 1S,including, <br /> but not limited to,reasona��e �ttorneys' fees and�osts af t�tle e�iden�e. <br /> FHA�eed of Trust-NE 4l96 <br /> VMP� VMP4R(NE)(�302].00 <br /> Wolters Kluwer Financial Services Page 7 of�0 <br />
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