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201008936
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201008936
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Last modified
11/30/2010 4:44:56 PM
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11/30/2010 4:44:56 PM
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DEEDS
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201008936
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20100893G <br />13. Nntices_ Any natice to Borrower provided for in this Security Instrument shall be given by delivering it ot <br />by mailing it by first class mail unless applicable luw reyuires use of another method. The notice shall be direcied ta <br />the Property Addt'etiti ot any ather addtevti $orrower designates by notice to Lender. Any notice to Lender shall be <br />given by first class mail to Lender'a addtess slated herein or any address Lender desi�nates by notice lo Botrowet. <br />Any natice pravided for in this Security Inslrument shall be deemed to have been given to $orrower or Lender when <br />given as provided in this paragraph. <br />14. Governing Law; Severability. This Security lnstrumcnt shall be governed by Federal law and the law ot� <br />1.he jurisdiction in which the Property is locatcd_ In thc �vent that any pr��visinn or clausc of this Sccurity Instn�mcnt <br />ot the Note contlicts with applicable law, such conflict shall not affect other provisions of this Security Tnstrument or <br />the Note which can bc given effect without the c��nflicting provieinn. Ta this end the prpvisians of this Security <br />Instnuncnt and the Nate are declare�! to be severable. <br />15. Burrr►Wer's Copy. F3orrowcr tihall be given one confotme[l copy nf the Note and of this Sectu'ity <br />Tntitn�m ent. <br />1 fi. IIazard�aus Suh5tance5. I3orrower �hall nul cause or petmit the presence, use, disposal, �torage, ot telease <br />of any Ha?ardou� Suhstances un or in ihe Properiy. $orrower shall not do, nor allow anyone else to do, anything <br />affecting the Property that is in violation of any Envitorunental Law. The preceding two sentences 5ha11 not apply to <br />the presence, u�c, nr titoragc on t1�e Pr��perty of yinall quantities of IIuzardous Subslunce� that are �enerally <br />rccognized to be appropriate to n��rmal retiidenlial uses and to maintenance of the Property. <br />Borrower shall prornptly givc Lcnder written notice of any investigaiion, cluim, demand, lawsuit ot other action <br />by any governmental r>r reeulatory agency ot private pariy involving the Property and any �Iazarcious Substance or <br />Enviromnental Law of which Borrnwcr has actual knowlec]ge. If Bortower learn�, or is notified by any governmental <br />or regulatory authority, that any remnval or othet temediation of� any IIazarclous Substances aFfecling the Property is <br />necessary, Borrower shall pro�nptly take all necessary remedial actions in uccordance with Envitonmental Law. <br />As used in this paragraph 16, "Ha�ar�lputi Subsiances" are those substanceti delined as toxic or hazardous <br />substances by T:nvironmental T�aw anGi the fi>llowin� yubstances: gasoline, kerosene, other llummable or Ioxic <br />petroleum products, toxic pesticidcs and hcrhicides, valatile solvents, matetials cvntaining asbestos nt fotmaldehyde, <br />and radioactivc materials_ Ati used in this paragtaph 16, "Enviromnental Law" means Iederal laws and laws of the <br />j��tisdiction where the Property is located that relatc to health, 5afety or environmental pratection. <br />NON-iINIFORM COVENANTS. Borrower and Lcndcr further covenant and agree as follows: <br />17. Assignment of Rcnts. $orrower unconditionally as�igns and tran�fer� to Lender all the rents and revenueti <br />of the Ptopetty. $orrowcr authorizes �cnder or Lender's agente to collect the rents and revenues and hereby directa <br />each ienant oP lhe Properiy to pay the rents to Lcnder or Lender's agents. H��wcver, prior to Lender's natic� to <br />Bortower of $orrower's breach of any covcnant or agreement in the Security Instrument, Borrower shall callect and <br />receive all rents und revenue5 of the Property a� tru�tcc for the benefit of Lendcr and I3orrowcr. 1'his assignrt►unt of <br />rents con5titutes an absolute assignment and not an assignment fi>r adclitiona] securlty pT�1y. <br />If Lender gives notice of breach to C3orrowcr: (a) all renta received by Borrower shall be held by Borrower as <br />tru�iee fot benetit of Lender only, to be applicd to the �ums eecutred hy the Security Instnunent; (h) Lender shall he <br />entitled to collect and receive all of the reats uf the Property; and (c) each lenant of the Ptoperty 5ha11 pay all tenis <br />due and unpaid to I,ender or Lender's aecnt on Lender's writlen demand to ihe tenani. <br />Borrower has not cxecuted any prior atisignment of lhe rents and has not and will not perfonn any act that would <br />ptevent Lender from exercising its rights under this paragraph 17. <br />Lender shall not he required to enter upon, take conttol of or inaintain the Property belure or aller giving notice <br />of breach to Borrowcr_ Howevcr, L�nder nr a judicially appointed receiver may do so at any time there is a breach. <br />Any application of rents shall nat cure nr waive any cletault or invalidate any other right or remedy of Lender. This <br />assignment of rente of the Property �hall tenninate when thc debt sccurcd by thc Security Instrument is paid in hill_ <br />�-4R(NE) �sso�> Page G of B Initials 1�'1 <br />
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