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201405994
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Last modified
7/20/2017 8:51:56 PM
Creation date
9/22/2014 1:08:18 PM
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DEEDS
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201405994
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��14�5994 <br /> '1�, Bor�'vwer�s�vpy.Barrower shal�be gi��n one conformed copy of the Note and of th�s Security <br /> Instrument. <br /> '1 fi. HazardousSubstances.Borrower sha�t not cause or permit the presence,u�e, disp��a1, storage, ar release <br /> af any Hazardous Substances on or in the Froperty.Borrower shall not do,nor allow anyone else to do, <br /> anything affect�ng the Property that is in vio�ation of any En�ironmen.ta�Law. The preceding two sentences <br /> sha11 not app�y to the presence,use,or storage on the Property af sma11 quantities of Ha�ardaus Sub�tances <br /> that are generally recognized to be apprapriate to norma�residential uses and�a maintenanc�of the Pr�perty. <br /> Borraurer shait prampt��give Lender written no�ice of any investigation,claim,demand, lawsuit or other <br /> action by any ga�ernmental ar regulat�ry agency or private pa�r involving the Praperty and any Hazardous <br /> Substance or En�ironmenta.l Law af which Borrower has actual l�nowledge. If Borrower 1�arns�or is n�tified <br /> by any governmental or regu�atory auth�rity,that any rem�val or other remed�atiQn�f any Ha�ard�us <br /> Substances a�fecting the Praperty is nece�sary,B�rrower sha11 pramptly ta��a11 necessary remedial acti�ns <br /> in accardance wit�En�ironmental Law. <br /> As used in this paragraph 16,"Hazardous Substances"are th�se substance�defined as toxic or hazardous <br /> subs�ancesby En�ironmental La�v and�he foll�wing substances:�asotine,kerosene,other flammab�e�r�oxic <br /> pet�coleum products,toxic pestieides and herbicides,�olatile solv�nts,ma�eria�s cantaining asbestos ar <br /> forma�dehyde,an.d radioacti�e materials.As used in th�s paragraph 1�,"Environm�ntal La�v"means f�deral <br /> laws an�laws of the jurisdic��on where the Pr�perty is lacatedthat relate to health,safetyor en�ironmental <br /> protection. <br /> No�#Un�form Co�►�nants.Borrower and Lender fur�her covenant an�agree as fallows: <br /> 17. Assignmentof F�ents.Borro�v�r unconditionally ass�gns and transfers�o Lender a�l th�rents and revenues <br /> of the Property. �orrower authorizes Lend�r or Lender's agents tQ�ollect th�rents and revenues and hereby <br /> directs�a�h tenant of the Property ta pay the rents tv Lender or Lender's agents. Howe�er,prior to Lender's <br /> notice t�Borrower af Borrovsrer's breach of an.y covenant or agreement in th� Security InstrumentA Borrawer <br /> sha11 collect and recei�e a11 ren�s and re�en.ues of the Property a�trust�e for the benefit of Lender and <br /> Barrow�r.This a�signment of rent�constitutes an absolute assignm�nt and not an assignment for additional <br /> �e�ur��y onl�. <br /> If L�nder gi�es nat�ce of breach to Borrower: (a}all rents received by Borrower shatl be held by Borrower <br /> as trustee for benef�t of Lender on1y,ta be applied to the sums�ecured by the Security Instrument; (b} <br /> Lender shall be entitted to col�ect and receiv�a11 of the rents of the Property;and��)each tenant of the <br /> Property sha�1 pay atl rents du�and unpaid�o Lender or Lender's agent on Lender's written demand to the <br /> tenant. <br /> Borrower has aot execu�ed any pri�r assignment of the rents and has no�and wi11 n�t perfarm any act that <br /> wou�d prevent Lender from exercising its rights under this paxagraph �7. <br /> Lender shal�not be requirec�to enter upon,take control of or maintain the Proper�y before or after giving <br /> notice af breach to�orrow�r. However,Lender or a judicial�y appointed receiver may do so at any time <br /> there is a�areach.Any app�ication of ren.�s sha11 not cure or�va�ve any default or in�a�idat�any other right ar <br /> remedy af Lender.This assigament of rents of the Frope�-ty shatl terminate when the debt secur�d by the <br /> Security Instrument is paid in fu11. <br /> �1$. For�closureProc�dure.If Lender requires immediate payment zn full under paragraph 9, Lender <br /> may invoke the power of sale and a�y other remedies permitted by app�icable law.Lender shail be <br /> ent�t�ed to colleet all�xpenses in�urred in pursuing the remedies under this paragraph 18,inc�uding, <br /> but not limited to,r�asonable attorneys'fees�nd costs of title eviden�e. <br /> � <br /> FHA Mo�tgage V11lTH MERS-NE Re�ised 4I9fi <br /> VMP� VMP�N(NE}[9342}.44 <br /> Wolters Klwv�r Fina�cia�Sen�ices Page 7 of�[4 <br /> q4331�8$��21 �233 4�8 471� <br />
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