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E: RE-RCCORDED 201004873 201000594 12. Successors and Assigns Bound; ,point and Several Liability; Ca-Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors arld assigns of Lender and ]30rrawPr, subject to the provisions of paragruXrir~(b). Borrower`s- covenants avid agreetne~ ~a'li'"~ joint and several. Any &rrrower who ca-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of tltis Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 13. Notices. Airy notice to Borrower provided for in this Security Instrument 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 Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower ar Lender when given as provided in this paragraph. 14. Governing Law; 5everability. 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 Security Instrument or the Nnte which can be given effect without the conflicting provision. Ta this end the provisions of this Security Instrwnent and the Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given orle conformed copy of the Note and of this Security Instrument. i6. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on ar in the Property. Harrower shall not do, nor allow anyone else to da, anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage an the Property of small quantities of Hazardous Substances that are generally recognized to 6e appropriate to normal residential uses and to maintenance of the Property. Borrower shall promptly give Lender written notice of any invesHgaflon, claim, demand, la~.vsuit or other acEion by any governmental ar regulatory agency or 'private }arty involving the Property anti any Hazardous Suisstance or Environmental 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 Hazardous Substances affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Envirannlental Law. As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the followiag substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pestiades 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 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 nolice to Borrower of Borrower'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 of rents constitutes an absolute assigrmerrt and not an assigmnent for additional security only. If bender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Harrower 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. 321-2734948-703 -~tN(NF~ (oao~l M742048 Pap B of 8 Irdtlala;_.~ WWW.AOCSDIRECT.COM Dl/22/2o1D 12:06 PM NEw LOAN'