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241002493 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 uniless applicable law requires use of another method. The notice shall be directed to dne 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 Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 74. Governing Law; Severability. This Security Instrument shall he 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 giveaa effect without the conflicting provision. To this end the provisions of this Security instrument and the Note are declared to he severable. 15. Borrower's Copy. Borrower shall be given otte 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 Environmiental Law. The preceding two sentences shall not apply to die presence, use, or storage on the Property of small quarndties of Hazardous Substances that are generally recognized to be appropriate to norrraal residential uses and to nnaintenarace of the Property. Borrower shall. promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any govertunental or regulatory agency or private party involving the Property and any Hazardous Substance or Enviromnental Law of which Borrower has actual knowledge. if Borrower learns, or is notitied by any governmental or regulatory authority, that any removal or other remediationr of any Hazardous Substances affecting tine Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Enviromnental Law. As used in this paragraph ld, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other flarmnrable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, ~taaterials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 16, "Euvirotunental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environunental protection. NON-UNIFORM COVENANTS. Borrower and Lender further covenrant 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 dne Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. This assigmnent of rents constitutes an absolute assigmnent and not an assigmnent for additional security onily. 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 onily, 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 tennant 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 leas not and will not perforn 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 or maintain the Property before or after giving notice of breach to Borrower. However, Lender or a judicially appointed receiver nnay 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 assigmnent of rents of the Property shall terninate when the debt secured by the Security instrument is paid in full. ®4RINE) ~seo~~ Page 8 of 8 Initiale:l Y ~ l ~~ ~~