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<br /> conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be
<br /> given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to
<br /> be severable.
<br /> 15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br /> 16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of
<br /> any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the
<br /> Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or
<br /> storage on the Property of small quantit�es of Hazardous Substances that are generally recognized to be appropriate to normal
<br /> residential uses and to maintenance of the Property.
<br /> Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any
<br /> governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of
<br /> which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that any
<br /> removal or other remediation of any Hazardous Substances affecting the Property is necessary, Borrower shall promptly take all
<br /> necessary remediai actions in accordance with Environmental Law.
<br /> As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by
<br /> Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic
<br /> pesticides and herbicides, volatile soNents, materials containing asbestos or formaldehyde, and radioactive materials. As used in
<br /> the paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is.�cated .t,l},at rela4e, �.w
<br /> to health, safety or environmental protection. �
<br /> NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br /> 17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the
<br /> Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the
<br /> Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower's breach of
<br /> any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property
<br /> as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an
<br /> assignment for additional security only.
<br /> If Lender gives notice of breach to Borrower: (a) alI rents received by Borrower shall be held by Borrower as trustee for
<br /> benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall be entitled to collect and
<br /> receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or
<br /> Lender's agent on Lenders written demand to the tenant.
<br /> Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent
<br /> Lender from exercising its rights under this Paragraph 17.
<br /> Lender shali not be required to enter upon, take control of or maintain the Property before or after giving notice of breach to
<br /> Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents
<br /> shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the Property
<br /> shall terminate when the debt secured by the Security Instrument is paid in full.
<br /> 18. Foreclosure Procedure. If Lender requires immediate payment in full under Paragraph 9,
<br /> Lender may invoke the power of sale and any other remedies permitted by applicable law.
<br /> Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in
<br /> this Paragraph 18, including, but not limited to, reasonable attorneys' fees and costs of title
<br /> evidence.
<br /> If the power of sale is invoked, Trustee shall record a notice of default in each county in
<br /> which any part of the Property is located and shall mail copies of such notice in the manner
<br /> prescribed by applicable law to Borrower and to the other persons prescribed by applicable law.
<br /> After the time required by applicable law, Trustee shall give public notice of sale to the persons
<br /> and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell
<br /> the Property at public auction to the highest bidder at the time and place and under the terms
<br /> designated in the notice of sale in one or more parcels and in any order Trustee determines.
<br /> Trustee may postpone sale of all or any parcel of the Property by public announcement at the
<br /> time and place of any previously scheduled sale. Lender or its designee may purchase the
<br /> Property at any sale.
<br /> Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's
<br /> deed conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence of
<br /> the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the
<br /> following order: (a) to all costs and expenses of exercising the power of sale, and the sale,
<br /> including the payment of the Trustee's fees actually incurred, not to exceed 3 %
<br /> of the principal amount of the note at the time of the declaration of default, and reasonable
<br /> attorneys' fees as permitted by law; (b) to all sums secured by this Security Instrument; and (c)
<br /> any excess to the person or persons legally entitled to it.
<br /> If the Lender's interest in this Security Instrument is held by the Secretary and the Secretary
<br /> requires immediate payment in full under Paragraph 9, the Secretary may invoke the nonjudicial
<br /> power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 ("Act") (12 U.S.C.
<br /> 3751 et se�{c.) by requesting a foreclosure commissioner designated under the Act to commence
<br /> foreclosure and to sell the Property as provided in the Act. Nothing in the preceding sentence
<br /> shall deprive the Secretary of any rights otherwise available to a Lender under this Paragraph 18
<br /> or applicable law.
<br /> 19. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to
<br /> reconvey the Property and shall surrender this Security Instrument and all noted evidencing debt secured by this Security
<br /> Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legally
<br /> entitled to it. Such person or persons shall pay any recordation costs.
<br /> F5813.LMG (2/99) Pa9e 4 of 5
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