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201005297 though Lender may be unable to collect amounts owed under the Note because of restrictions in this Paragraph 13. 14. Forbearance by Lender Nat a Waiver. Any forbearance by Lender in exeroising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 1ti. Successors and Assigns Bound; Joint and Several Liability. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender. Borrower may nat assign any rights or obligations under this Security Instrument or under the Note, except to a trust that meets the requirements of the Secretary. Borrower's covenants and agreements shall be joint and several. 16. Notices. Any notice to Borrower provided far in this Security Instrument shall be given by delivering it or by mailing it by first Bass mail anises applicable law requires use of another method. The notice shall be directed to the Property Address or any other address all Borrowers jointry designate. Any notice to Lender shall be given by first lass 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 td Borrower or Lender when given as provided in this Paragraph 16. 17. 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 dause of this Security Instrument or the Note conflicts with applicable law, such conflict shall nat affect other provisions of this Security Instrument or the Note 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. 18. Borrower's Copy. Borrower shall be given one cor~farmed copy of the Note and this Security Instrument. NON-UNIFORM COVENANTS. Borrower and Lender covenant and agree as foNows: 19. Assignment of Rents. Borrower unconditionally assigns and transfers to tender all the rents and revenues of the Property. Borrower authorizes Lender or Lenders agents to collect the rents and revenues and hereby directs each tenant of the Property to pay the rents to Lender or Lenders agents. However, prior to Lenders notices to Borrower of Borrowers breach of any c~avenant 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 assignment and nvt an assignment for additional security only. If Lender gives notice of breach to Borr+~ver: (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 this 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 th Lender or Lenders agent on Lenders written demand to the tenant. Harrower 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 19, Lender shall not be required to enter upon, take contrd of or maintain the Property before or after giv(ng notice of breach to Borrower, However, Lender or a judicially appointed receiver may do so at iii#~4~l~!l~~l~aUNaild~