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:f, , ,t 200602366 13. Notices. ~y notice to Borrower provided for in thjs Security Instrument shall bc given by delivering it or by mailing it by first etass mail \I,oless applicable law requires ll5e of another methoo. The notice shall be directed to the Pro))eny Address or any other address BorrQwer designa.tes by notice to under. Any noticl': to Lender shall be given by first class mai,l to Lender's address stated herein or any adoress Lender designatcs by DoUce to narrower. Any notice provided for in dlis SCCtlrity Instrument shall be deemed to have been ,given to Borrower or Lender when giveo' as provided in this paragJ:'aph. 14. Governing Law; Severability. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in whic:b the Property is located. In the event that any provision or clause of this Security Instruru~nt or the Note con'Diets with applicable hlw. such conflict shaH not affl:ct other prQvi:iioos of this Security Instrument or the Note whicb can be given effEct without the conflicting provision. To this end tbe provisions of thi~ Security InstrumlMt and the Note are declartd to be severable. 15. Borrower's Copy. Borrower shall be givel). one conformed copy of the Note and of this Ser:urity Jostrument. 16. Hazardous Substances. Borrower shall not cause or pennit tIle presence, use, disposal, storage, or release C'Jf any Hazardous Substances on or in the Property. :Sorrower sl1aII not do, nor .allow anyone cl~e to do. anything affecting tbe Property that is in violation of any Environmental law. TIle preceding two sentences shall not apply Lo the presence, use, or SfC'Jrage on the Property of small quantities of Ha7.aroous SUbstances that are generally reco,enizcd to be appropriate to Donnal residential uses liIod to maintenOJnce of the rro~rty. Borrower shall promptly give Lender wriuCIl notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory alJency or private party involving thc Property and any Hazardous Substance or EnvironmentaJ Law of which Borrower has actua.l Knowledge. If Borrower lei1ms, or is nQtified by any governmental or regulatory authority, tbat any temovaJ or other remediation of any Hazardous Substances affecting the Property is necessary, Borrower saa1l promptly take all necessary remedial actions in accordance with EnvironlTlE)Jtal Law. As: used in this paragraph 16, "Hu..ardous Substanl:es" arc tho$e substances defined a:J to"ic or hM;lrdous substances by Envil:onmental Law and t~1;'l following 6l,lbstances: g;tsoline, ketosene, other flcunrnable or toxic petroleum products. toxic pesticides and herbicides, volatile solvents, materials containing asbestos or fonnaldehyd.c, and radioactive materials. As used in this paragraph 16, "Environmemal Law" means federal laws and laws of the jurisdktion where the Property is located that relale to he;;alth, safety or environmental protcction. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all tile rents and revenues of the Property. bQuQwer authorizes Lender or Lender's agents to collect the rents and revem,lcs and hereby directs each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower's breach of any covenant Ot agreement in the Secutity Instrument. Borrower shall collect and receive all rents and revenues (If tbe Property as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of breach to Borrower: (a) all rents received by Borrow~ sball be held by Borrower as ttustee for benefit of le1)der only, to be applied to the SUtl1$ secured by the Security Instrnmtmt; (b) Lender shall bc entitled to collect and receive all of the rents of the Pro~rty; and (c) each tenant of the l"rQperty shall pay all rents due and unpaid to lender or lender's agent O~ Lender'.!: written demand to the tEluant. norrower has not executed any prior. OJssignment of the rents and has not and will not perfonn any ac[ that would prevent Lender from exercising its rights under tbis paragmpb. 17. , Lender shall not be required to enter upon, take COntrol of or 'ltlaintain the Property before or after giving notice of breach to Borrower. However, Lend~ or a judicially appointed receiver may do so at any time there is tI breach. Any application of rents shall not cure or waive ;my default or invalidate any othtt right or remedy of lender. This assignment of rents of the Property shall tenninate when lhe debt secured by the Seeutity Instrument is paid in full. ~-4RINE) (eGO', PRglI e of B Inltl''';& 03/15/2006 8:43AM (GMT-06:00)