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___ 20�1024�N
<br />13. Notices. Any notice to Borrower provided for in this Security Instrument 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 shali 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 Instrument shall be deemed to have been given to Borrower or Lender when
<br />given as provided in this paragraph.
<br />14. Governing Law; 5everability. This Security Instnunent shall be governed by Federal law and the law of
<br />the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument
<br />or the Note conflicts with appiicable law, such conflict shall not affect other provisions of this Security Instrument or
<br />the Note which can be given effect without the conflicting provision. To this end the provisions of tbis Security
<br />Instrument and the Note are declared to be severable.
<br />15. Borrower's Copy. Borrower shall be given one conformed 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 Hazardoas Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything
<br />affecting the Property that is in violation of any Bnvironmental Law. The preceding two sentences sha11 not apply to
<br />the presence, use, or storage on the Property of small quantities of Hazazdous Substances that are generally
<br />recognized to be appropriate to normal residential uses and to maintenance of the Property.
<br />Bonower shall promptly give Lender written notice of any investigation, 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 Borrower has actual knowledge. If Bonower 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, Bonower shall promptiy take 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
<br />substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic
<br />petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde,
<br />and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the
<br />jurisdiction where the Property is located that relate to health, safety or environmental protection.
<br />NON-IJNIFORM COVENANTS. Bonower and Lender further covenant and agree as follows:
<br />17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues
<br />of the Property. Borrower authorizes Lender or Lender' s agents to collect the rents and revenues and hereby directs
<br />each tenant of the Properiy to pay the rents to 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 Instrument, 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 constitutes an absolute assignment and not an assignment for additional security only.
<br />If len�er gives notice of breach to Bonower: (a) all rents received by Bonowe"r sha11 be held by Borrower as
<br />hustee for benefit of Lender only, to be applied to the sums secured by the Security Instniment; (b) Lender shall be
<br />entitled to collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents
<br />due and unpaid to Lender or 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 would
<br />prevent Lender from exercising its rights under this paragraph 17.
<br />Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice
<br />of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach.
<br />Any application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This
<br />assignment of rents of the Property shall terminate when the debt secured by the Security Instntment is paid in full.
<br />1351102361
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<br />Page 6 of 8
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