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201501366
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Last modified
7/20/2017 11:01:39 PM
Creation date
3/6/2015 2:58:35 PM
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DEEDS
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201501366
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��15�13�� <br /> �!5. Borrower's Copy.Barrower sha�l be given ane conforme�copy�f the Note and af this Secur�ty � <br /> I�s�rrurrie�t. <br /> 1 f. HazardousSubstances.Borrower shall not cause or permit the presence,use, disposal, storage, ar release <br /> of any Haza,rdous Substan�es on oi i.n the Froperty. Borrov��r shall nat do,n4r al�ow anyone else to do, <br /> anything affecting the Frap�rty that is in violation of any E�vironmenta�Law. The preceding two sent�nees <br /> shall aot apply to the pres�nce,use,or storage on the Froper�r af sma�l quantities of Hazardaus Substances <br /> that are generally recogni�ed ta be appropriate to normal residential uses and to mainte�ance of the Pr�p�zt�. <br /> Bonower shall pr�mpt�y give Lender writt�n not�ce of any in�estigation,cla�im,demand, lawsuit or other <br /> action by any go�ernmenta�or regu�atory agency ox private part�r�n�al�ing the Property aad an�Hazardous <br /> Substance�r Environm�ntal La�r pf which Borrower has actua�knowledge. If Barrower learns,or is notified <br /> by any govemmental or regulatory authority,that any rem��a�or other remediation of any Hazardous <br /> �ubstanc�s affecting the Property is necessary,Borrower shall prompt�y take att necessar�re�ned�al aCtivns <br /> in accordance with Environmental Law. <br /> As used in this parag�raph 16, "Hazardous Substances"are those substa.ncesdefined as to�ic or ha�a,rdous <br /> substances by Envuonmental Law and the fol�owing sub�tances:gasoline,kerosene,other flammable or toxic <br /> petro�eum produ�ts,toxic pesticidesand herb�cides,��Iat��e sa�vents,materia�s eontaining asbestos or <br /> farnaaldehyde,and radioacti�e materials.As used in this paragraph 16, "Environmental Law"mean.s federal <br /> Iaws an.d la�vs of the�urisdiction where the Property is�ocatedthat relate to health,safety or environmenta� <br /> protect��n. <br /> hlon-�Jniform�ovenants.Borrower and Lend�r fu.rther covenant and agree as fnllovvs: <br /> 'I7. �ls���nmentof Rents.Borrower unc�ndit�ona��y assigns and transfers to Lender a��the rents and re�renues <br /> �f t�e Prap��rty.$orrower authori�es Lender or i,ender's a�gents tt��a��ect the rents and revenues and hereby <br /> d�rects each tenant of the Property to pay the rents to L�nder or Lender's agents, Howe�er,prior t�Lender's <br /> noti�e to Borrower of Sorro�ver's breach o�'any cov�nant or agreement in the Security Instrument,Borrovver <br /> sha11 collect and recei�e a11 rents and revenu�s of the Proper�y as ttruu�tee f�r the benefit of Lender and <br /> �3orrower. This assignmen��f rents canstitutes�n absolute assignment and not an assig�ment for additi�nal <br /> secur�ty anly. <br /> If I�ender gives not�ce af breach to Banower: �a}a��rents received by Borrawer sha1��e he�d by Borrawer <br /> a�trustee for benefit of Lender only,to be applied t�the su�s secured by the Security In.strument; (b} <br /> Lender s�11 be entitled to callect and rec��ve all of the rents of the Property;an�(c)each tenant vf the <br /> Property sha11 pay a1�rents due and unpaid t�Lender or Lender's agent�n Lender's written demand to the <br /> tenant. <br /> Borrower has not executed any pri.or assignment of th�rents and has not and wi11 not perform any act that <br /> �rou�d prevent Lend�r from exercising its right�under this paragraph 17. <br /> Lender sha�l not be required t�ent�r upan,�ake cantro�of ar maintain the Proper�y before or af�er giving <br /> n�tice of br�ach to Borrower. Hovve�er,Le�der or a judicially appointed receiver may do so at any time <br /> there is a breach.Any a�p�ication of r�nts shal�not cure or wai��any default or invalida�e any other right or <br /> remedy of I.ender.This assign.ment af rents of the Propert�sha��terminate w�ien�ie debt secured�y the <br /> Secu.rity Instrument is paid i.n fu11. <br /> �$. Fvreclo�ur�ro�edure.If Lender requires immediat�payna�ent i�a full under paragraph 9, Lender <br /> may in.vvke the p�wer af sale and any ather remedies permitted by applic�ble law.Lender sha�l be <br /> entitled to callect al1 expenses incurred in pursuing tbe r�medies under t�is paragraph 1S,includxng, <br /> �ut nflt�i�mited to,reasanable attarneys'fees and costs�f tit�e evidence, . <br /> FHA Mor�gage WfTH MERS-NE Re�ised 4196 <br /> VMP� VMP4N�lwlE�('1342�A4 <br /> Vllolters Klc�w�er Fi�anciai Senilces Page 7 of 14 <br /> q033374�8353 �233 �89 �714 <br />
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