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201002342 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 Securih~ Instrument ar the Nate 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 nne conformed copy of the Nate and of this Security Instrument. 1G. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, er release of any Hazardous Substances on or in the Property, Borrower shall not da, nor allow anyone else to do, anything affecting the Property that is in viplation 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 govemmantal or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, If Borrower Teams, or is notified by any governmental ar 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 hazardous substances by Environmental [.aw 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 Ivcated that relate to health, safety or environmental protection- NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as fellows: 17. Assignment of Ctents. Harrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property. Borrower authorizes Lander or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property to pay the rents Co Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower's broach of any covenant or agreemem in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee Far the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment far additional security only. if Lender gives notice of breach to Harrower: (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 Lander or Lender's agent an Lender's written demand to the tenant, Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender from exercising its rights under this paragraph 17. Lender shall not be required to enter upon, take control of ar maintain the Property before or after giving notice of breach to Borrower. However, Lander 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 of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full. FHA aced of Trual-NE YMP Wotlers Kluwe1 Financipl Services pDS-NE4 AI96 ~~ / VMPgR(NF) (0809).00 `/~/~ I~ Page 6 d 9 ~i,u~~mru~~rrs