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2oioo7s2� 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by t"�rst class mail unless applicable law requires use of another methad. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lendar. Any notice to Lender shall be given by t"irst class mail to Lender's address stated herein or any address Lender designates by notice to &�rrower. 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. 14. Governing Law; Severability. This Security Instrurnent 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 nat affect ather provisions of this Security Instrument or the Note which can be given effect without the conflicting prnvision. To this end the provisipns of this Security Instrument and the Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security lnstrument. 1G. 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 Properiy that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall promptly give Lender written notice of any investigation, clairn, demand, lawsuit or other action by any governxnental or r�gulatory agency or private party involvin� the Property and any Hazardoua Substance ar Environmental Law of which Bprrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that any removal or other remediatian of any Hazardous Substances a£fecting the Property is necessary, Borrower sha11 promptly take all necessary remedial actions in accordance with Environmental I,aw. As used in this paragraph 16, "Hazardous Substances" are thos� substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other £lammable or toxic petroleuxn products, toxic pesticides and herbicides, volatile solv�nts, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 16, "Environmental Law" means fedaral laws and laws of the jurisdiction where the Properiy is located that relate to health, safety or environmental protection. NON-UNI�ORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. Assignment of Rents. Barrower 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 Propez to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Barrower 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 �rrower. This assignrnent af rents constitutes an absolute assignment and not an assignment for additional security only. lf Lender gives notice of breach to Borrower: (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 the Security Instrument; (b) Lender shall be entitled to collect and receive all of the rents pf the Property; and (c) each tenaaxt 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 priar assignment of the rents and has not and will not perform any act that would prevent Lender from exercising its ri�hts under this paragraph 17. Lender shall not be required to enter upon, take control of or maintain the Properiy before or after giving notice of breach to Bonrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents sha11 npt cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the Froperty shall terminate when the debt secured by the Security Instrument is paid in full. 0451015175 FHA Deed oF Trust-NE R/96 VMP � � VMP4R(N� (D809) Wolters Kluwer Financial Services Page 6 of g