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201002153 13. Notices. Any notice to Borrower provided for in this Security Instruement 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 Lcnder designates by noticc to Borrower. Any noticc provided for in this Secuxiiy Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. (~uverning Law; Severability. 't'his Security Instrument shall be governed by Federal law and the law of the jurisdickion 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. I"o this end the provisions of this Security Instrument and the Note are declared to be sevetable- 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- 7"he 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 Iazardous Substance or Envitomnenlal 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 Iazardous Substances affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph lG, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Envirommental Law and the following substances- gasoline, kerosene, other flammable or toxic pettoleutn 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 cnvironmenial protection. NUN-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 aulhori•res 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 of 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 tents and revenues of the Property as trustuc 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 he 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 Lcnder or Lender's agent on Lender's written demand to the tenant. Borrower has not executed any prior assignment of the runts and has not and will not petfonn any act that would prevent Lcnder 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. IIowevet, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall not cure of waive any default or invalidate any other tight or remedy of Lender. '1"his assigmment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full. -4R(NE) ~ssa~ ~ Pag®6 pf 8 Init.