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20040292'7 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that any removal or other remediation of any Hazardous Substances affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in,accordance with Environmental Law. As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline;, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, maftriaismwilsaining asbestos or formaldehyde, and radioactive materials. As used in this paragraph 16, "EnvironmentabLaw� means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection. NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. Assignment of Rents. Borrower unconditionally assigns and transfa>is;d tLender all the rents and revenues iof the Property. Borrower authorizes Lender or Lender's agents to collecLAhe-nrents and revenues and hereby directs icach tenant of the Property to pay the rents to Lender or Lender.';& agianbs. tHowever, prior to Lender's notice to 4 x rend3orrower ;of Borrower's breach of any covenant or agreement in the-Swurity I6strument, Borrower shall collect and (a .anvaceive. all rents( and revenues of the Property as trustee for the benafittoi 1 ender rand Borrower. This assignment of .+s(r.aents,constitutes an absolute assignment and not an assignment for adrditit o bsewrity only. s if +Lender gives notice of breach to Borrower: (a) all rents receivedlkrBorrower shall be held by Borrower as otter entudsWiftIs±benefit of Lender only, to be applied to the sums secumd&y fix 6courity Instrument; (b) Lender shall be w thentided:xo°collect and receive all of the rents of the Property; andr clab tenant of the Property shall pay all rents i. idue and unpaid to Lender or Lender's agent on Lender's written deman&to the tenant. ) Borrower has not executed any prior assignment of the rents and has novand will not perform any act that would prevent Lender from exercising its rights under this paragraph 17. ,1, r,ennc Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice ++ of breach to Borrower. However, Lender or a judicially appointed receiver +(nay do so at any time there is a breach. Any application of rents shall not cure or waive any default or invalidateiamy other right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full. Initials: (MAWNE) (9802).01 Page 8 of 8 ��i� 111 aM1 ({rs s+ .,-rv;