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200808377 13. Notices. Any notice (0 Borrower provided for in this Security Inmwnent shall be given by deliverins it QT: by mailing it by first class mail unless applicable L1.w requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designate5 by notice to Lender. Any notice to Lender shall be given by firll class mail to Lender's address Slated herein or any address Lender designates by notice to Borrowet. Any notice provided for in this Sec\lrity InsTIUIIlCnt shall be deemed to have been given to Borrower or Lender when given as provilled ill this paragraph. 14. Governing Law; Severability. This Security Instrument sball 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 tlris Security InstromCIU or the Note conflicts with applicable law, such confli':t shall not aff~t other pl:ovisions of this Security Instroment or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security lnBtrument and the Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security mStl1.l1ncnt. 16. lIazard0U5 Substances. BOrrower shall not cause or permit the presence, use, disposal, storage. or release of MY Hazardous Substances on or in the Propeny. Borrower shall not do, nor allow anyone else [0 do. anytbing affectiDg the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use. or storage Oil. me Property of small ~ntlties of Hazard.ous Substances that are generally recognjJ:ed to be appropriate to nonooI residential uses and to maintenance of the Property. Borrow~ shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatoI)" agency or private party involving the Property and. atl.y Hazardous S\lbstance or Environmental Law of which Bon'ower 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 nece55aIy remedial actions in accOl:dance with Environmental Law. As used in this paragraph 16, "Hazardous Substances" are those subStances defined as toxic or hazanlous IiUbstatl.ces by Environmental Law aDd the following substances: gasoline, kerosene, othex- flammable or toxic petroleum procIucts, toxic pesticides and Wrbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 16, "EnyjrQM1ental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to hea1tht safety or environmental protection. NON~UNIFORM COVENANTS. aorrower and Lend.er furrher covenant and. agree as follows: 17. Assignment 01 Rents. Borrower unconditionally assigns and transfers to Lender all the rents aJld 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 BolIOwet's breach of any CQvenant or agreem.e>>t in the Security lnstrnment, Borrower shalt collect and teceive all rents afld revenues of the Property as tnlstee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute llSsignment and not an assignment for aclditional security only- If Lender gives nOlice 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 rerns 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 h~ not and will not perform 8ny act that would prevent Lender from exercising its rights under this paragraph 17. 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, Lend.e..: Ot a judicially appointed receiver rrmy do so at any tiIm: there is a breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of leDder. This assignment of rents of the PJ:operty shall tennina1e when the debt secured by the Secul:ity Instrument is paid in full. ~4R(NE) (saOl! Page 6 of II 1"111ijI$:~vl