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201101523 13. Notices. Any notice to Borrowez provided for in this Security Instruznent shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice [o Lender shall be given by first class mail to Lender's address stated herein or any address Lender clesiDnates by notice to $orrower. Any notice provided for in this Security Instrument shail be deemed to have been given to Sorrower or Lender when given as provided in this paragraph. 14. Gor Law; Severability. This Security Instrument shall be governed by Federa] law and the law of the jurisdiction in whieh the Property is Ioeated. In the event that any provision or elause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the No[e which can be given effect wi[hout the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 15. BorroFVer's Copy. Borrower shall be given one conformed copy of� the Note and of this Security Instrument. lb. Hazardous Su6stances. Borrowez shall not cause or permi[ the presence, use, disposai, storage, or release of any Hazardous Substances on or in the Property. Borrower shall not do, nor a11ow anyone else to do, anythina affecting the Property that is in violation of any Bnviroz�mental Law. The preceding two sentences shall not apply to ihe presence, use, or storaae on the Property of small quantities of Hazardous Substances that are generally recognized to be appropnate to normal residetatiat uses and to maintenance of the Property. Borrower shall promptly give Lender written notice ot' any investigation, claim, demand, lawsuit or other action by any gavernmental or rebulatory agency or private party involving tlae Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If $orrower learns, or is notified by any governmental or regulatory authority, that anv removal or other remediation of any Hazardous 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 Law and the foilowing substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbieides, volatile solvents, materials containing asbestos or formaldehyde, and radiaactive materials. as used in this paragraph 16, "Environmentai Law" means federal laws and laws of the jurisdiction where the Property is located tha[ relate to health, safety or environmental protection. NON-UNIFORM COVENANTS. B�rrower and Lender further covenant and agree as follows: 17. Assignment of Rents. Borrower uncondi[ionally assians and transfers to Lender all the rents and revenues of the Property. Borrower authorizes Lender or Lender's agents fo collect The rents and revenues and hereby directs each tenant ot the Property to pay the rents to Lender 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, Barrower shall collect and receive all rents and revenues of the Property as trustee for the benefii of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment fc�r additionaI security only. If Lender gives notice of breach to Borrower: (a) aIl 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 anci receive all of the rents of the Property; and (c) each tenant of the Property shall pay ail rents due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant. Borrower has not executed any prior assignment of the rents aad has not and will not perform any act that would prevent Lender from exercising its rights under this paratraph I7. Lender sha�l nc�t be required to enter upon, take control of or maintain the Property before or after giving notice 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 or invalidate any other right or temedy of Lender. This assignment of rents of the Pxoperty shall terminate when the debt secured by the Security Instrument is paid in full. ,.10-11-0002fl4 � -4NINE) Io407J rn�r�a�s:�,.� O Page 6 oT 8