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2�1�4�793 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be �ivcn by dclivcrin� it or by mailing it by first class mail unless applicahle law requires use of another method. The notice shall be directed to the Property Address or any other address Borrowcr dcsignates by notice to Lender. Any notice to Lender shall be given by �rst class mail to Lender's address stated herein or any address Lendcr designates by notice to Borrower. Any notice provided for in this Sccurity Instrument shall bc dccmed ta have bcen given Co Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Security Tnstrument shall be governed by Fcdcral law and the law of the jurisdiction in which the Property is located. Tn the event that any provision or clausc af this Seeurity Inscrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instru�nent or the Nole which can be given effect without the conflicting provision. To this end the provisions of this Security Instruinent 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 Instrument. 16. Hazardoas 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 affecling the Property that is in violation of any Environmental Law. The preceding two sentences shall not lpply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that �re generally recogni�ed to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall promptly give Lender written notice of any investigation, claim, dema��d, ]awsuit or other action by any governmental or regulatory a�;ency or private party involvin� the Property and any Hazardous Substance or Environmental I.aw of which Borrowcr has actual knowlcdge. If Borrowcr lcarns, or is notified by any governmental or regulatory authority, that any removal or other remediation of any H�zardous Substances affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental l.aw and the following substances: gasoline, kerosene, othcr flaiYUnablc or toxic petroleum products, toxic pesticides and herbicides, valatile solvents, materials cantainin� asbest�s or forinaldehyde, and radioactive materials. As used in this paragraph 16, "Environmental Law" mcans federal laws �nd laws of the jurisdictian where the Property is locatcd that rclate to health, safety ar environmcntal protection. NON-UNIFORM COVENANTS. Borrower and Lcndcr furfher covenant and agrec as follows: 17. Assi�nment af Rents. Borrower unconditionally assigns and transfers ta Lendcr all thc rcnts and revcnucs 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 i.ender or Lender's agents. However, prior to Lender's notice 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 assignment and not an assignmenl for additional security only. if Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by k3orrower as trustee for bene�t 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 shal] pay all rents due and unpaid to Lender or Lender's agent on Lender's wriiten demand lo the tenant. Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent I,ender from exercising its rights under this paragraph 17. Lender shall not be required to enter upon, take control of or inaintain the Propercy before or after giving nocice of breach to Borrower. However, Lender or 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 pr invalidate any othCr right qr rCmCdy of Lender, This assi�nment of rents of the Property shall terminate when the debt secured by thc Security Instrument is p�id in full. 1351014603 �-4N(NE) (o4ai) � Page 6 oi 8 Initials: ` ^` ' � . �