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201005159 ?S. Succsssorsarrd Assigns Bound; Join! and Several Liability. Borrower may not assign any rights or obligations under this Security Instrument or the Second Nate, except to a trust that meets the r®quirements of the Secretary. Borrowerrs covenants and agreements shall be joint and several. 16. Notices. Any notice to Borrower provided for in ibis Security Instrument shall be given by delivering it or by mailing it try flrst class mail unless appgcable law requires us+~ of another method. The notice shall tie directed tv the Property Address err any other address all Borrowers jointly designate. Any notice to the Secretary shall be given by first class maul to the HtJI] Field Offlae with Jurisdiction over the Property or any o#her address designated by the Secretary. Any optics provided for in this Security Instnament shall be deemed to have been given to Borrower or Lender when given as provided in this Paragraph iS. 17. GovernirrgLaw; Severabitity. This Security tnstn.rment shalt 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 Second Nate conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Second Note which can be given effect without the conflicting provision. To this end the provisions of this 5ecitrity Ins#rument and the Second Nate are declared to be severable. 'f8. Borrower"sCopy. Borrower shall be given one conformed copy of the Second Note and this Security Instrument. NON-UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 19. Assignmentpf Rents. Borrower uncandltbnally assigns and transfers to Lender all the rents and revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the vents 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 Barnower of Borrower's breech of any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Properly as trustee for the benefit of Lender and Harrower. 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 far benefit of Lender only, to be applied to the sums secured by this Security Instrument; (b) tender shall be entitled tv collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and uhpaid to Lender or Lender's agent on Lender's written demand to the tenant. Barnower has trot executed any prior assignment of the rents and has not and wIM not perform any act chat would prevent Lender from exercising its rights under this Paragraph 19, except as provided in the First Security instrument. Lender shall not be required to enter upon, take control of err maintain the Property before err after giving notice of breach to Borrower. However, Lender err 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 rerrts of the Property shall terminate when the debt secured by this Security lnstrumen! is paid in full. 2t). 1=oredosuroProtaedure.lf Lenderroquirs:immediatepayment in full by Parsgraph9, Lender at Ito option may require immediate payment in full of all sums secured by this Security instrument without further demand and may invoke the power of :ale and any other remedies permitted by applicable law. Lender shall bo entitled to collect all expenses incurred in pursuing the remedies providedin this Paragraph20, including,but not Ilmitedto, reasonableattameys' fees castsaf this evidence. If the power of sale is invoked, Trustee obeli record a notice of default in each county in which any part of the Property is located and shall mail copiesof such notice in the matter prescribedby applicable law to Borrower and m the other persons prescribed by applicable law. After the time required by applicablelaw, Trustee shall give publicnotlce at safe to the personsand In the manner prescribedby applieablelaw. Trustee, without demandon Borrower, shall sellthe Propertyat public auctfonto the hlghestbidderat the time and place and underthe terms dealgnatedin the notice of sale in one or more parcelsand In any ordsrTrustea determines.Trustes may postpanesals of all or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale. Flnet Alnerkan loan Production Services N~brsslal NCCM Second Seaudly In~hmen! Q 2004 Fid1 Alhsricen Anal EstaM Sdulions LLC FA.LP9N UB13: OM06 NMFL IIS6DHNE Doc Id: OGNE Paps 6