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200805380
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Last modified
6/23/2008 8:29:40 AM
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6/23/2008 8:29:39 AM
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DEEDS
Inst Number
200805380
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<br />200805380 <br /> <br />13. Notices. Any notice to :Borrower provided for in this Security Instrument shall be s;iven by delivering it or <br />by mal.1iD.g it by titst class uWl unless applicable law requires use of another methOd. The: notice Shall be directed to <br />the Properry Address or any other address Bon'Ower designates by notice to Lender. Any notice 10 Lender $ball be <br />Jiven by first class mail to LendCt's addtess Slated berein or any ad~s Lender designates by notice to BotIOWCr. <br />Any notice provided. for in this Security InstIllment shall be dccIned to have been given to Borrower or Lender when <br />aiven as provided in this paragraph. <br />14. &')vernlng La,,; SeYtl"llbility. This Securlty InstIllD1C1lt shall "be gm'erned \)Y Fcderll1law and the law of <br />the jurisdiction in which the: Property is loC8Ied. In the event that any provision or clause of this Security InstrUment <br />or the Note COnflicts with applicable law, sum con:fliet shall >>at affect other provisions of tbis Smlriry Instr\JIllent or <br />the Note which can be given effect witboul the conflicti1'l.g provision. To this end the provisions of rhls Security <br />lDstrumcnt ~ the Note are dedared to be severable. <br />15. Borrower's Copy. Borrower shall be given one conformed. copy of the Note and of this Security <br />InstIUD1tDt. <br />16. BazardOllS Submulces. Borrower shall not cause or pdt the present'B, use. disposal, stOrage, or release <br />of any Hazar&ms SUbstllIlC8S on or in the PropetIY. Borrower ehall1'l.Ot do, nOJ' allow anyone else to do, anyrhing <br />affecting the Property that is in violation of IlD)' EnvironJ;D.ental Law. The preceding two sentmces shall not apply to <br />the preence, U$e, or storage on th.; lJropcrty of small quantities of Ha:r.ardous SUbstanceS that ate generally <br />recognized to be appropriate to normal residendal uses 8Dd to mainteJU!lCC of the Property. <br />Borrower shall promptly give Lender written notice of lmY investigation, claim, demand, },awsuit or other action <br />by any iOVCl'DIIltntal or rtgulatoIy agency or private party involving the l'ropertY and any HllZllIdous S1Jbs[anCe or <br />E.nviromnenta1 Law a{ which J)orroMt has acLUal knowledge. If Borrower leam8, or u; notified by any Jovemmenbll <br />or replatory authority, that aDY removal or other rem.cciiation of my Hazardous Substances a1Ieoting tl1e Property is <br />necessary, BorroweX' shall promptly take all necessaxy :remedial Dom in BCCOIOanCC with Environmental Law. <br />M used ilt this paragraph 16, "HazardouJ SubstanCeS" are those IiI.1bstances defined as roxie or hazarOous <br />su'bstances by Environmental Law IlDd tho following substanceS: Ja801inc, keIoscne, other fii\IIlll)able or toxic <br />petroleum prod.1lCtS, to:rlc pesticides and berbieides, volatile solvents, materials containing asbestos or formaldehyde, <br />and radioactive materials. As used in this patJ.graph 16, "Bnvironmcntall.aw" meaas federal laws and.1aws of the <br />jurisd~ where the Propetty is locared that :relate to health, safety or environmental protection. <br /> <br />NON~UNIFORM COVENANTS. Bonower and Lender fi.trtber covenant and agree as follows: <br />17. Assigmnent of Rents. Borrower unconditio:na1ly usi!ns and trllnSfers to LeDder all the rents and revOD,UeS <br />of the Property. l3orrowet authoriz.es Lender or Lender's agents to collect the :rents and revenues IlIld hereby directs <br />each tenant of the }'{opcrty to pay the rents to Lender or Lender's agentll. However, prior to Lender's notice to <br />Borrower of Bon'OweI"'s breach of any covenant or agreement i1'l. the security 1nstxtlD1ent. Borrower sha1l collett and <br />receive all rents and. revenues of the Property as ItUSteo for the benefit of Lel'l.dcr and J)orrower - This assipmcnt of <br />rents constitutes an aNolure assignment and not an ilSsignment for additional sec\l.rity oIlly. <br />If Lender give$ notice of breach ro Bonower: (a) all rents received by Borrower shall be be1d by Borrowa' ilS <br />tmstee tor benefit of Lender only, to be applied "' the SUIIlI!i secured by the Security Instnuncntj (b) Lender $hall be <br />entitled to collect atld receive all of the rents of the Propertyj and (c) cam tenant of the PIopeIty shall pay all rents <br />due and. l,1npaid to Lender or LendeJ:'s agent on Lcncler's writtM d.emand to the ten$1'l.t. <br />Borrower has not executed fD1Y prior assignmem of the rents and. has not and will not perform any ad thaI would <br />prevent Lender :from exercisiJ.'l.A its rightS under this paragraph 17. <br />Lender &ball Dot be required to enter upon. take control of or maintain the Property before or after givinl nodce <br />of breach to BotfOweI. However, Lender or a judicially appointed receiver may d.o so at any time there is a breach. <br />Any application of re1.'l.ts shall not cure or waive any default or invalidate any other right or remedy of 1,.endcr. 'Ibis <br />assignment of renta of the Property shall tenninate whe1'l. the debt secured by the Security InstIUlnent i& paid in f\l.11. <br /> <br />_-4RINE) (9601' <br /> <br />PIQI a of B <br /> <br />InIIllll&~ <br />
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