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2oioo�735 <br />13. Natices. Any notice to Borrower provided for in this Security Instrwnent shall be given by delivering it or <br />by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to <br />the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be <br />given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. <br />Any notice provided for in this Security InsWment shall be deemed to have been given to Borrower or Lender when <br />given as provided in this paragraph. <br />14. Governing Law; Severability. This Sec.vrity Instrument shall be governed by �ederal law anci the law of <br />the jurzsdicrion in which the Property is located. In the event tJ�at any provision or clause of this Security Instnunent <br />or the Note conflicts with applicable law, snch conflict shall not affect other provisions of this Security Instrument or <br />the Note which can be given effect without t�ae conflictir� provision. To this end the parovisions of this Security <br />Instrument and the Note are declared to be severable. <br />15. Barrawer's Copy. Borrower shall be given one canformed copy of the Note and of this Security <br />Instrument. <br />16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release <br />of any Hazardous Substances on nr in the Property. Borrower shall not do, nor allow anyone else ta do, anything <br />affecting the Property that is in violatian of any Environmental Law. '['be preceding two sentences sha11 not apply to <br />the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally <br />recognized to be appropriate to normal residential uses and to maizatenance of the Property. <br />Borrower shall promptly give Lender written notice of any inv�stigation, claim, demand, lawsuit or other action <br />by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or <br />Environmental Law of which Borrawer has actual knowledge. If Sorrower learns, or is notified by any governmental <br />or regulatory authority, that any removal or other remediation of any Hazardous Substances affecting the Property is <br />necessary, Borrower shall promptly take all necessary remedial actions in accordance with �nvironmental Law. <br />As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous <br />substances hy Envixonmental Law and the following substances: gasoline, kerosene, other flammable or toxic <br />petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestvs or formaldehyde, <br />and radioactive m�aterials. As used in this paragraph 16, "Envirozunental Law" means federal laws and laws of the <br />jurisdiction where the Property is located that relate ta health, safety or environmental protection. <br />NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: <br />17. Assignment of Rents. Borrower unc;onditionally assigns and transfers to Lender all the rents and revenues <br />of the Property. Borrower authorizes Lender or Ixnder's agents to collect the rents and revenues and hereby directs <br />each tenant of the Property to pay the rents ta Lender or Lender's agents. However, prior to Lender's notice to <br />Borrower of Borrower's breach of any covenant or agreement in the Security Instnunent, Borrower shall collect and. <br />receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of <br />rents canstitutes an absolute assignment and not an assignment for additional security only. <br />If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as <br />trustee for benefit of Lender only, to be ap�lied ta the sums secured by the Security Instrument; (b) Lender shall be <br />entitled to collect and receive all af the rents of the Property; and (c) each tenant of the Property shall pay all rents <br />due and unpaid to Lencier ar Lender's agent on Lender's written demand to the tenant. <br />Borrower has not executed any prior assignment c�f the rents and has not and will not perform any act that would <br />prevent Lender from exercising its rights under this paragraph 17. <br />Lender shall not be required ta enter upon, take control of or maintain the Property before or after giving notice <br />of breach to Borrower. Hawever, I.ender or a judicially appointed receiver may do so at any ti��e there is a breach. <br />Any application of rents shall not cure or waive any default or invalidate any other right or r�nnedy of Lender. This <br />assignment of rents c�f the Property shall terminate when the debt secured by the Security Instrument is paid in hxll. <br />��4Ft�NE) �asoi� Paga 6 of S Initials: �� <br />