201504161 - Laserfiche WebLink

Browse

��15�41�1 '�a. Barrov�►er's�opy.Borrower sha11 be given one conformed copy of the Note and of this Security Instrument. 1 C. Hazard�usSubstances.Borrower sha11 not cause or permit the presence, use, disp�sal, stara�e, or release of any Hazardous Substances�n or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property�hat is in viotation of any En�ironmental Law. The preceding two s�nt�nces shall not apply to the pr�sence,use,or storage on�he Property af small quantities of Hazardou�Substa.nces that are gen�rally recagnize��a be appropriate to narmal residential uses atad to maintenance�f the Pro�er�y. Borrovver sha11 promptly gi�e Lender writt�n notic�of any investigation, claim, demand, lawsuit or other actian by any governmental or regulatory agency or private party invol�ing the Propert�r and any Ha�ardous Subs�ance or En�ironmenta.l Law of whieh Borrawer has actual knativledge. �f Borrower learns,or is notifed by any go�ernmental or regula�ary authority,that any r�mo�a�ar other remediation of any Hazardous Substanc�s affecting the Praperty is neces�ary, Borrov�er sha11 promptly take a1l necessary remedial actions in accordance�vith En�iranmental Law. As used in this paragraph 16, "Hazardous Substances"are those subs�ances defined as toxic or hazardous substa.nc�sby Environmenta�Law and the following substances:gasaline,kerasene,other flamm�.ble or toxic petroleum products,toxie pesticidesand herbieides,volatile solvents,materials cantain�ng asbestos or farma�dehyde,and radioacti�e materials.As used in this parag�raph 16, "Environmen�al Law"means federal �aws and laws of the jurisdiction where the Property is locatedthat relate to health,safety or en�iranmenta.l pratection. Non-llniform Co�enants.Borrawer and L�nder further cavenant and agree as follows: 'I 7. Assignmentof Rents.Borrower unconditi�nally assigns and transfers to Lender a�l the rents and re�enues of the Property. Borrawer auth�rizes Lender or L�nder's agents to collec�the rents and revenues and hereby direets each tenant of the Property ta pay the rents to Lender or Lender's agents. H�wever,pri�r t�Lender's notice to Borrower of Borrower's breach of any co�enant or agre�ment in�he Security Instrument, Borrower sha�1 c�llect and recei�e al1 rents and re�enues of the Praperty as trustee for the beneft of Lender and Borrower. Th�s assignment of rents const�tutes an absolute assignm�nt and nat an assignment for additiona� seeurity anly, If Lender g��es natice of breach to Borrower: �a}all rents received by Borrawer sha11 be held by Borrower as trus�ee for bene�t of Lender on�y,to be app�ied to the sums secured by the Securi�y Instrument; (b} Lender sha11 be entitled to eollect and receive a11 of�he rents of the praperty; and(c}each tenant of the Property shall pay a11 rents due and unpaid to Lender or Lender's agent on Lender's vvritten dernand to the tenant. Borrower has not executed any prior assignment of the rents and has not and wi11 not perform a�y act that would pr��ent Len�ier from exercising i�s rights under this paragraph 17, Lender shall not be required to enter upon,take control af or maintain the Property before or after giving notice af breach to Borrower. However,Lender or a judicially appoint�d receiver may dfl s�at any time there is a breach. Any appl�cation of rents shall not cure or wai�e any defau�t ar invalidate any other right or remedy of Lender. This assignment of rents af the Property sha�i terminate when the debt secured by the Security Instrumen�is paid in f�ll. 'I 8. ForeclosurePracedure.If Lender r�quires imn�ediate pa�ment in full under paragraph 9, Lender may invoke the p�wer of sa�e and any o�ther remedies permitted by applicable l�w.Lender shall be entit�ed t�Callect a�l expenses incurred in pursuing the remedies under this paragraph 18,including, but not limited to, reas�nable attorneys'fees and cvsts of title evidenee. FHA Mortgage WITH MERS-NE Re�ised 4I9fi VMP�7 VMP4N{NE}(1342}.�Q Wolters Kluwer FinanciaE Services qp 3 3413Z 2119 OZ 3 3 3 5 3 �71� P��°f�°