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200604338 13. Notices. Any notice to BOlTower provided for in this Security Instrument shall be given by delivering it or by mailing it by iirst class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address BOl1'ower designates by notice to Lender. Any notice to Lender shall be given by iirst class mail to Lender's address stated herein or any address Lender designates by notice to BOl1'ower. 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 aifect 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. BOl1'ower shall be given one conformed copy orthe Note and ofthis Security Instrument. 16. Hazardous Substances. BOlTower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Propelty. BOl1'ower 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 Propelty 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 Propelty 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, BOlTower 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, materials containing asbestos or iormaldehyde, and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction where the Propelty is located that relate to health, safety or environmental protection. NON-UNIFORM COVENANTS. Bon-ower and Lender fmiher covenant and agree as follows: 17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Propelty. BOlTower 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 Bon-ower of BOlTower's breach of any covenant or agreement in the Security Instrument, Bon-ower shall collect and receive all rents and revenues of the Propelty as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment ior additional security only. If Lender gives notice of breach to Borrower: (a) all rents received by BOlTower 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 Propelty; 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. BOlTower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender irom exercising its rights under th is paragraph 17. Lender shall not be required to enter upon, take control of or maintain the Propelty beiore 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 Propelty shall terminate when the debt secured by the Security Instrument is paid in full. Initials:T N1 "itJ .-4N(NE) (0407) @ Page6of8