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200241 §1 conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect wit out t e conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 1& Borrower's Cary. Borrower shall be given one conformed copy of this Security Instrument. 16. Hazardas 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 Enviromental 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 Enviromental 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 Enviromental Law. As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Enviromental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing -asbestos or formaldehyde, and radioactive materials. As used in the paragraph 16, "Enviromental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or enviromental protection. NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. AWgumentof Reins. 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 the 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 rents and revenues of the Property as trustee for the benefit 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 the sums secured by the Security Instrument; (b) Lender shall be entitled to collect and 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 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 this Paragraph 16. 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 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 assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full. M Foreclosure Procedure. If Lender requires iummediate payment in fidll under Paragraph R Leader may invoke the power of sale and any other ram permitted by applicable law. Leader shall be entitled to collect all eqxmses incurred in pursuing the remedies provided in this paragraph 17, including, bit not linited too, reasonable attorneys; fees and oasts of title evidence: If the power of sale is invoked, Trustee shall record a notice of default in each coumtp in which any part of the Property is located and shall mail dries of such motive in the manner as prescribe by applicable law to Borrower and to the other persons prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice of sale to the persons s and in the manner presmil3ed by applicable law. Trt without demand on Borrower, shall sell the Property at public auction. to the highest bidder at the time and place and tinder the terms dedgnated in the notice of sale in one or Hire parcels and in any order Trustee determines. Trustee nay postpone sale of all or any parcel of the Property by public at the time and place of any previously scheduled sale. Leader or its derigmee may purchase the Property at any sale: Upon receipt of paymmt of the price but Trustee shall deliver to the purdhaser Trusted s deed conveying the Property. The recitals in the Trusted s deed dmn be prima facie evidence of the truth of the states nude t hwein. Trustee shall apply the proceeds of the sale in the following order: (a) to all eqxmses of the sale, including, but not limited to, Trusted s fees as permitted by applicable law and reasonable attorney s; fees; (b) to all suns secured by this Security and (c) any excess to the person or persons legally entitled to it WA RecouveyanDe: Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to reconvey the Property and shall 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 legally entitled to it. Such person or persons shall pay any recordation costs. 20. Substitute Trustee; Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein and by applicable law. Page 4 of 5 1101.CV (8/01) GI1594