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20iioo3o3 <br />12. Successors and Assigns Sound; Joint and Several Liability; Co-signers. 7'he covenants and agreements of this 5ecurity <br />Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisians of Paragraph <br />9(b). . Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but <br />does not execute the Note: (a) is co-signing this Security Instxument anly to mortgage, grant and convey tl�at Borrower's interest <br />in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secuxed by this <br />Security Instrument; and (c) agz'ees that Lender and any ather Borrower may agree to extend, modify, forbear or make any <br />accammodations with regard to the terms of this Securiry Instrument or the Note without that Borrower's consent. <br />13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it <br />by first class mail unless applicable law requires use of another method. The notice sha11 be directed to the Praperty Address or <br />any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's <br />address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security <br />Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. <br />14. Governing Law; Severability. This Security Instrutnent shall be governed by Federal law and the law of the jurisdiction <br />in which the Praperty is located. In the event that any provision or clause of this Security Instrument or Che Note conflicts with <br />applicable law, such canflict shall not affect other provisions of this Security Insmiment or the Note which can be given effect <br />without the conflicting provision. To this end the provisians of this Security Instrument and the Note are declarad to be <br />severable. <br />15. Borrawer's Copy. Borrower shall be given ane conformed capy of the Nate and of this Security Instrument. <br />16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, stoxage, or release of any <br />Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property <br />that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on <br />the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential <br />uses and to maintenance of the Property. <br />Borrower shall promptly give Lender written X10L1GE af any investigation, claun, demand, lawsuit or other action by any <br />govemmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law <br />of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental ar regulatory authority, that <br />amy removal or other remediation of any Hazardous Substances affecting the Propexty is necessary, Borrower shall promptly take <br />all necessary remedial actions in accordance with Environmental Law. <br />As used in this Paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by <br />Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic <br />pesticides and herbicides, volatile solvents, materials containing asbestos or forrnaldehyde, and radioactive materzal.s. As used in <br />this Paragraph 16, "Etavironznental Law" rneans federal laws and laws of the jurisdiction where the Property is located that relate <br />tn health, safery or environmental protectian. <br />NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: <br />17. Assignment of Rents. Borrawer unconditianally assigns and transfers to Lender all the rents and revenues of the <br />Property. Borz'ower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the <br />Property to pay the rents to Lender ar Lender's agents. However, prior to Lender's notice to Borrower of Borrower's breach of <br />any covenant or agz'eement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property <br />as trtrstee for the benefit of Lender and Borrower. This assignment of rents canstitutes an absolute assignment and not an <br />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 trustee �or <br />benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall be entitled to collect and <br />receive all af the rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender ar <br />Lender's agent on Lender's written demand to the tenant. <br />Borrower has not executed any prior assignment of the rents and has not and will not perform any act that wnuld prevent <br />Lender from exercising its rights under this Paragraph 17. <br />GV2171-6 (696) Page 6 of 8 FHA, Ne6raska Deed of Trust <br />I IIIIII IIIII IIIII III'I II��� IIIII III�I IIIII IIIII IIIII A�II �IIIIII �II IIIIII IIIII IIIII II�II IIII I��I <br />1 1 � 1 3 1 3 2 2 0 G V� 1 7 1 <br />��� <br />