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200903047 successors in illlcrest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any ri~h t or remedy. 12. Succ~ssors a~d Assigns Bound; Jo.illt and Several Uabilit).; Co-signers. The covenants and agreements o~ tillS Security l.n~trument shall bllld and benefit the successors and assigns of Lender and Borrower. subject to the provIsIOns o.f Para&raph 9(?). Borrower's covenants and agreements shall be joint a~d ~ever~l. Any ~orrower who co-signs this Security Instrument but does not execute the Note: (a) is co- slgnlllg thiS Security ~nstrum~nt only to mongag~. grant and convey that Borrower's interest in the Property under. the tenus of this Secunty Instrument: (b) IS not personally obligated to pay Ihe sums secured by this Secunty Instrument: and (~) agrc~s that Lender and any other Borrower may agree to extend, modify, forbear or make ~y accommodations With regard to the lenn of this Security Instrument or the Note without that Borrower s consent. . . 13: Notices. . ~ny .notice to Borrower provided for in this Security Instrument shall be given by del~ven~g 11 or by, mailing It by first class mail unless applicable law requires use of another method. The notIce shall be ~irected to the Property ~ddress or any other address Borrower designates by notice to Lender. Any nOllc; to lender s~1lI11 be given by firs! class mail to Lender's address stated herein or any address lender deslgn~tes by notice to Borrower, Any notice provided for in this Security Instrument shall be deemed to have been gIVen to B?rrower. ~r Lend~r when ~iven as provided in this paragraph. 14. G~)V~rn!nl? L~w; S~verabillt)'. Thl~ SecurIty Instrument shall be governed by federal law and the la:^, of the JunsdlctlOn In which ~e Property IS .Iocated. In the event that any provision or clause of this Secu~llY Ins~ment or the Note conflicts \':'Ith apphcab!e law. such conflict shall not affect other provisions of thiS Secur,tty Instrum.ent or t~e 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 tbis Security Instrument. 16. Hllzardous Substances. Borrower shall not cause or permit the presence. use, disposal, storage, or rei case .of any I-Ia~ardous Substances on ?r ~n th~ Pr~perty. Borrower. shall not do. nor allow anyone else to do, anythmg affectmg the Property that IS III VIOlatIon of any EnVIronmental law. The preceding two sentences shall not apply to the pres.ence. use, or storage on the Property of small quantities of Hazardous Substances that are gencrally recogmzed to be appropriate to nonnal residential uses and to maintenance of the Property. ~orrower shall promptly give Lender written notice ofany investigalion. claim. demand. lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any ~azar~ous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower learns, or IS nollfied 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 nccessary 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 subslances: 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 the 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 further 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 rcnts and revenues of the Property as trustee for the benefit of Lender and Borrower, This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gIVes notice 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 Inslrument; (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 renl.<; and has not and will not perform any act thai would prevent Lender from exercising ils 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. 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 ofrents of the Property shall terminate when the debt secured by the Security Instrument is paid in full. 18. Fon-closure Proeedure. If Lender requires immediate payment in full under Paraaraph 9, Lender may Invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies pro\ided in this Section 18, Including, but not limited to, reasonable attorneys' fees and costs of title eVidence. . If the power of sale is invoked, Trustee shall reeord a notice of default in each county h.1 which an)' part of the Propert)' Is locnted and shall mail copies of s.uch notice in. the manner prescribed. by Applicable Law to Borrower and to the other persons prescnbed by Apphcable Law. After the time required by Applicable Law, Trustee sha~ give public notiee of sale to the persons and In the mann~r prescribed by Applicable Law. Trustee, mthollt demand on Borrower, shall sell th~ Proper~ at pubhc auction to the highest bidder at the time and place and under the terms designated ill tbe notice of sale In one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property hy public llnnOUl1eement Ilt the time and place of auy previously scheduled sale. Lender or its designee Illay purcbase the Property at any sale. , Upon receipt of payment of the price bid. Trustee shall deliver to the purc!laser Trustee s deed conveying the Property. The recitals in the Trustee's deed shall be prima faCie e\1dence ofthe truth of the stlltements made therein. Trustee shall apply the proceeds of the snle In the following order: (a) to all costs and expenses of exercising the power of sale, and the sale, Including the pa)'ment of the Trustee's fees actually incurred and reasonable attorneys' fees as permitted by Applicable Law; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons h.-gaily entitled to It. I( the Lender's interest in this Securit)' Instrument is held by the Secre,tary and the Secre~a:y requires immediate payment in full under Paragraph 9, the Secretary mny IIlvoke the nonjudlc181 I 6156_CV (11.101) 4200282 Page40fS FHA Nebraska DeedofTru.1 MERS p; 001'0(00218195)