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99 112214 13. Notices. Any notice to Borrower provided for in diis Security Instrument shall be given by delivering it or by mailing it by hrst class mail unless applicable law requires use of another method. The notice shall be directed to die Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by tirst class n�ail to Lender's address stated herein or any address L.ender 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 die 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 widiout 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 die Note and of this Security Instiuuient. 16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in die Property. Borrower shall not do, nor allow anyone else to do, anydiing affecting die Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to die 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, detnand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Enviromnental Law of which Borrower has actual knowledge. If Borrower learns, or is notitied by any goverruuental 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 diis paragraph 16, "Hazardous Substances" are those substances detined as toxic or hazardous substances by Enviromnental Law and die following substances: gasoline, kerosene, other flanmiable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or enviromnenCal protection. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of die Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect and receive all reilts and revenues of the Property as trustee for the benetit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as trustee for benefit of Lender only, to be applied to die sums secured by the Security Instrument; (b) Lender shall be entitled to collect and receive all of the rents of the Properry; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant. Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender from exercising its rights under diis paragraph 17. Lender shall not be required to enter upon, take control of or maintain die Property before or after giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assigmnent of rents of the Property shall ternunate when the debt secured by flie Security Instrument is paid in full. �-4R1NE)�ssoa�.oi Page 6 of 6 Initials-� 0