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_ - 99 112296 conflicts with applicabie law, such conNict shall not affect other provisions of th� Security Instrument or the Note which can be given effect wkhout the conHicting provision. To this end the provisions of this Secur�yy Instrument and the Note are declared to be severable. 15. Borrowe�'s Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 16. Hazardous Substances. Borrow� shall not cause or permR the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property. Borrower shall �ot do, nor albw anyone else to do, anything affectfnq the Property that is in vblation of any Env'ronmental Law. The preced'ng two sentences shall not appy to the presence, use, or storage on the Property of smaU quantities of Hazardous Substances that are generaly recognized to be appropriate to normal residential uses and to meintenence of the PropeRy. Borrower shall prompty give Lender written notice of any investigation, claim, demand, lawsuit or other action by any govemmental or regulatory agency or private party invoNing the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower leams, or is notiNed by any govemmental or regulatory authority, that any removal or other remediatbn of any Hazardous Substances affecting the Property is necessary, Borrower shail prompty take all necessary remedial actions in accordance wRh Environmental Law. As used 'n this paragraph 16, "Haza�dous Substances" are those substances defined as toxic or hezardous substances by Environmental Law and the folbwing substances: gasoline, keros�e, other flammable or toxic petroleum products, toxic pesticides and herbicides, voletile soNents, materials containinq asbestos or formaldehyde, and radioactive materials. As used 'n the paragraph 16, "Env'ronmental Law" means federal laws and laws of the jurisdiction where the Property is iocated that relate to heaRh, safety or env'ronmental protection. NON-UNIFORM COVENANTS. Borrower and Lender furth�covenant and agree as folbws: 17. A88i91111'ICllt Of Refit8. Borrower uncondkionaUy assigns and transfers to Lender all the rents and revenues of the Property. Borrower suthoriaes Lender or Lender's agents to collect the rents and re�renues and hereby directs each tenant of the Property to pay the rents to Lender or Lenders agents. However, prior to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shail collect and receive ail rents and revenues of the Property as trustee for the benefi[ of Lender and Borrow�. This assignment of rents constitutes an absolute assipnment and not an assipnment for additional securiry ony. If Lender gives notice of breach to Borrower: (a) all rents received by BoROwer shail be held by Borrower as trustee for benefd of Lender ony, to be applied to the sums secured by the Security Instrument; (b) Lender shaA be entitled to collect end receive ail of the rents of the PropeRy; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lenders written demend to the tena�t. Borrower has not executed eny prar essignment of the rents and has not and will not perform any act that would prevent Lender irom exercising its rights under this Paragraph 17. Lender shall not be required to enter upon, take control of or maintain the Property before or atter gNing notice of breach to Borrower. However, Lender or a Judicialy appointed receiver may do so at any time there is a breach. My application of rents shall not cure or waive any defauR or invalidate any 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. 18. Foreclosure Procedure. If Lender requires immediate payment in tull under Paragraph 9, Lender may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Paragraph 18, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of the Property is located and shall mali copies of such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable law. After the time required by applicable law, Trustee shall glve public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shail sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale. Upon receipt of payment of the price bid, Trustee shall deliver to the purcheser Trustee's deed conveying the Property. The recitals in the Trustee's deed shall bc prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the followtng order: (a) to ali costs and expenses of exercising the power of sale, and the sale, including the payment of the Trustee's fees actually incurred, not to exceed 3 % of the principal amount oi the note at the time of the declaration of default, and reasonable attorneys' fees as permitted by law; (b) to all sums secured by this Security Instrument; and (c) any excess to the person o� persons legally entitled to it If the Lender's interest in this Security InsVument is held by the Secretary and the Secretary requires immediate payment in full under Paragraph 9, the Secretary may invoke the nonjudicial power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 ("Act") (12 U.S.C. 3751 et $eg.) by requesting a foreclosure commissioner designated under the Act to commence foreclosure and to sell the Property as provided in the Act Nothing in the preceding sentence shall deprive the Secretary of any rights otherwise available to a Lender under this Paragraph 18 or applicable law. 19. Reconveyance. Upon payment of all sums secured by this Security Instrument, lender shall request Trustee to reconvey the Property and shaN surrender this Security Instrument and all noted evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons lepaly entitled to k. Such person or persons shall pay any recordation costs. F5813.LM0 (2/B9) Pays 4 of 5 �_