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2 01103650 13. Notic�. Any notice to Borrower provided for in this Security Insirument shall be given by delivering it or by mailing it by first class ma.il unless applicable law requires use of another method. The notice sha11 be directed to the Properiy Address or any other address Bonower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Insttvment shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Se�erability. This Security Instrument shall be govemed by Federal law and the la.w of the jurisdiction in which the Property is located.. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severa.ble. 15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property. Bonower shall not do, nor allow anyone else to do, anything affecting the Property that is in viola.tion of any Environmental Law. The preceding iwo sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Borrower sha11 promptly give Lender written notice of any investigation, cla.im, demand, lawsuit or other action by any governmental or regulatory agency or private pa.rty involving the Properiy and any Hazardous Substance or Environmental Law of which Borrower has actual l�owledge. If Borrower learns, or is notif'ied by any governmental or regulatory authority, tha.t any removal or other remediation of any Hazardous Substances affecting the Properiy is necessary, Borrower sha11 prompfly 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 following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and la.ws of the jurisdiction where the Property is located that relate to health, safety or environmental protection. NON-UIVIFORM COVENANTS. Bonower and Lender further covenant and agree as follows: 17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Properly to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower's breach of any covena.nt or agreement in the Security Instrument, Borrower shall collect and receive all rents and revemies of the Properiy as trustee for the bene�t of Lender and Bonower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. ff Lender gives notice of breach to Borrower: (a) all 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 Insirument; (b) L.ender shall be entitled to collect and receive all of the rents of the Property; and (c) each tena.nt of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written dema.nd to the tenant. Borrower has not executed any prior assignment of the rents and has not and will not perForm airy act that would prevent Lender from exercising its rights under this para.graph 17. Lender shall not 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 remedy of Lender. This assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full. ��R(NE) �eso�t Paga 6 of 8 i�we�� �/� �. b