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200901742 ,11. Borrower Not Released; Forbearance by Lender Not a Waiver. ,Extension, of the time of payment or n16dification of amortization of the sums secured by' this 'Security Instnunent granted -by Lender 10 ,any 'successor in interest of- -Borrower shall not operate to release the liability ofthe original Borrower or Borrower's successors in interest Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by iliis Security Instrument by reason of any demand made by the original Borrower - or Borrower's successors in interest Any forbearance by Lender in-exercising any right or remedy shall not bea waiver of or , preclude the exercise of any right or remedy. 12. Snccessors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of this Security Instroment shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that , Borrower's interest in the Property under the terms of this Security Instrument; (b) is notpersonaUy obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree10 extend, modify, forbear or make any accommodations with regard,to the terms of this Security Instrument or the Note without that Borrower's consent. 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address 'stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instnnnent shall be deemed 10 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 affect 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. Borrower shall be given one conformed copy of the Note and of-this Security Instrument. 16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property. Borrower 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 Property 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 Property 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, Borrower 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 h!l7.ardous 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 formaldehyde, and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection. NON-UNIFORM COVENANTS. Borrower and Lender fwther covenant and agree as follows: 17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and 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 Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. TI1is assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of breach to BOlTower: (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 rents 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 has notand will not perform any aet that would prevent Lender from exercising its rights under this paragraph 17. . NEBRASKA FHA DEED OF TRUST MER5 ITEM 2696L5 (0709) GraalOllcs '" (Page 5 '" 7) l~ t(