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<br />Loan No.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
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<br />200706628
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<br />16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of
<br />any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything
<br />affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the
<br />presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to
<br />be appropriate to normal residential uses and to maintenance of the Property.
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<br />Borrower shall promptly give Lender written notice of any Investigation, claim, demand, lawsuit or other action by
<br />any governmental or regulatory agency or private party Involving the Property and any Hazardous Substance or
<br />Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or
<br />regulatory authority, that any removal or other remediation of any Hazardous Substances affecting the Property is
<br />necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law.
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<br />As used in this Paragraph 16, "Hazardous Substances. are those substances defined as toxic or hazardous
<br />substances by Environmental Law and the following substances; gasoline, kerosene, other flammable or toxic
<br />petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde,
<br />and radioactive materials. As used in Paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction
<br />where the Property is located that relate to health, safety or environmental protection.
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<br />NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
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<br />17. Assignment of Rents. Borrower unconditionally assigned and transfers to Lender all the rents and revenues of
<br />the Property. Borrower authorizes Lender of Lender's agent to collect the rents and revenues and hereby directs each
<br />tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of
<br />Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents
<br />and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an
<br />absolute assignment and not an assignment for additional security only.
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<br />If Lender gives notice of breach to Borrower; (a) all rents received by Borrower shall be held by Borrower as trustee
<br />for benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall be entitled to
<br />collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid
<br />to Lender or Lender's agent on Lender's written demand to the tenant.
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<br />Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would
<br />prevent Lender from exercising its rights under this Paragraph 17.
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<br />Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice of
<br />breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any
<br />application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This
<br />assignment or rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full.
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<br />18. Foreclosure Procedure. If lender requires immediate payment in full under Paragraph 9, lender may
<br />invoke the power of sale and any other remedies permitted by applicable law. lender shall be entitled to collect
<br />all expenses incurred in pursuing the remedies under this Paragraph 18, including, but not limited to, reasonable
<br />attorneys' fees and costs of title evidence.
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<br />If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of
<br />the Property Is located and shall mall copies of such notice in the manner prescribed by applicable law to
<br />Borrower and to the other persons prescribed by applicable law. After the time required by applicable law,
<br />Trustee shall give public notice of sale to the persons and In the manner prescribed by applicable law. Trustee,
<br />without demand on Borrower, shall sell the Property at public auction to the highest bidder at the time and place
<br />and under the tenns designated in the notice of sale in one or more parcels and In any order Trustee determines.
<br />Trustee may postpone sale of all or any parcel of the Property by public announcement at the time and place of
<br />any previously scheduled sale. lender or its designee may purchase the Property at any sale.
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<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying
<br />the Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made
<br />therein. Trustee shall apply the proceeds of the sale in the following order; (a) to all costs and expenses of
<br />exercising the power of sale, and the sale, including the payment of the Trustee's fees actually Incurred, not to
<br />exceed 2 . 0 0 % of the principal amount of the note at the time of the declaration of default, and
<br />reasonable attorneys' fees as permitted by law; (b) to all sums secured by this Security Instrument; and (c) any
<br />excess to the person or persons legally entitled to It.
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<br />If the lender's interest In this Security Instrument is held by the Secretary and the Secretary requires
<br />Immediate payment in full under Paragraph 9, the Secretary may Invoke the nonjudicial power of sale provided in
<br />the Single Family Mortgage Foreclosure Act of 1994 C" Act") (12 U.S.C. 3751 et seq.) by requesting a foreclosure
<br />commissioner designated under the Act to commence foreclosure and to sell the Property as provided in the Act.
<br />Nothing in the preceding sentence shall deprive the Secretary of any rights otherwise available to a lender
<br />under this Paragraph 18 or applicable law.
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<br />19. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to
<br />reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this
<br />Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person
<br />or persons legally entitled to It. Such person or persons shall pay any recordation costs.
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<br />20. Substitute Trustee. Lender, at its option, may from time to time remove Trustee and appoint a successor
<br />trustee to any Trustee appointed hereunder by an instrument recorded In the county in which this Security Instrument is
<br />recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties
<br />conferred uon Trustee herein and by applicable law.
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<br />21. Request for Notices. Borrower requests that copies of the notices of default and sale be sent to Borrower's
<br />address which is the Property Address.
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<br />NE FHA DOT
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