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~oloo2s52 CASE #: NE3212742060703 DOC ID #: 00021922168604010 tpxic 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 pf the jurisdiction where the Property is located that relate to health, safety or enviromuental protection. NUN-UN1F'ORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. Assignment pf Rents. Tv the extent pcrmiucd by applicable law, Borrower unconditionally assigns and transfers to Gender all the rents and revenues of the Property. Botrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property to pay the rents tp Lender pr Lender's agents. However, prior to Lender's notice to Borrower of l3prrpwer'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. This assignment pf rents constitutes au ahwlute assignment and opt an assignment for additional security only. if Lender gives notice of breach to Borrower: (al 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. Bprrpwer has not executed any prior assignment pF fire 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 cpirtrol of or maintain the Prpperty befpre 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 applicatipn of rents shall not cure or waive any default or hroalidate any other right or remedy of Lender. This assignment pf rents of the Property shad terminate when i he debt secured by the Security Instrument is paid in full. 18. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may tnvpke fire power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies under ibis paragraph 18, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of the Property is located and shall mail copies pf such notice in the mariner prescribed by applicable law to Borrower and to the other persons prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice of sale to the persons and in the rrtarurer prescribed by applicable law. Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice pf sale in one pr ntpre parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by p(tblic announcement at the time and place of any previously scheduled sale. Lender or its designee nary purchase the Property at any sale. if the Lender's interest in this Secnrity Instrument is held by the Secretary and the Secretary requires immediate payment in full under Paragraph 9, the Secretary may invoke the nonjudicial power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 ("Act") (12 U.S.C. 3751 et s'egJ by requesting a foreclosure commissioner designated under the Act to commence foreclosure and to sell the Property as provided in the Act. Nothing in the preceding sentence shall deprive the Secretary of any rights otherwise available to a Lender under this Paragraph 18 or applicable law. Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property. The recitals in tire Trustee's deed shall be pr7ma facie evidence of the truth of tire statements made therein. Trustee shall apply the proceeds pf the sale in the fol-owing order: (a) to all costs and expenses of exercising the power of sale, and the sale, including the payment of the Trustee's fees actually incurred, not to exceed 5.000 % of the principal amount of the note at the time of the declaration of default, and reasonable attorneys' fees as permitted by law; (Ir) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 19. Reconveyance. Uppn payment pf all sutns scented by this Security Instrurrtent, Lender shall request Trustee to reconvey the Property and shall surrender this Security hlshvment and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled tp it. Such perspn or p(:rsons shall pay Amy rcc~pnlatipn costs. 20. Substitute Trustee. Lender, at its pption, may frprn time (p tune remove Trustee and appoint a successpr ttvstee to any "Trustee appointed hereunder by an instrument recorded in the county in which this Security instrument is recprded. Without conveyance of the Property, the suaessor trustee shall succeed to all the title, power and duties conferred Uppn Trustee herein and by applicable law. 21. Request for Notices. Borrpwer requests ihat copies of the notices of default and sale be sent to Borrower's address which is the Property Address. MERS FMA peed of Trust-NE 2004N•NE (11/07) P:_iye 5 of 6