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201104720 13. Notices. Any notice to Borrower provided for in this Security instrument shall be given by delivering it ar 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 ather address Borrower designates by notice to Lender. Any notice ko I,ender shal] be given by first c[ass mail to Lender's address stated herein or any address Lender designates t�y notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borr�wer or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located. In ihe event that any provision or clause of this Security Instrument or the Note conflicts wilh applicable law, such conflict shalt noi affect other provisions of this Security Instrument or the Note which c.�n be given effect without the canflicting provision. To this end the provisions of this Security Instrumcnt and the Note are declared to be severa6le. 15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security lnstrument. 16. Hazardous Substances. Borrower shall not rause or permit the presence, use, disposai, slorage, ar release of any Hazardous Substances on or in the Progerty. Borrower sha11 not do, nor allow anyone else to do, anything affecting thc Property that is in violation of any Environmental Law. T'he greceding two sentence� shall not apply to the presencc;, usc, or storage on the Property af small quantilies of Hazaxdous Substances that are generally rec��nizec� to be appropriale to narmal residential uses and to maintenanee of the 1'roperty. Borrower shall promptly give Lender written notice of any investigation, ciaim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any go�ernmental or regulaiory authority, that any removal ar other remediation of any Hazardous Substances affecting the Property is neressary, Borrower shall promptly take all necessary remedial actions in acxordance with Environmental i,aw. As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental L,aw and ihe following substances: gasoline, kerosene, other flammabie or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing ashestos or formatdehyde, and radioactive materials. As used in this pazagraph 16, "Environmental Law" means federal laws and laws of the jurisdiction �vhere the Property is located that relate to health, safety or environmenta! proter-�ian. NON-UNIFORM COVENANTS. l3orrawer and L.e�der further covenant and agree as follows: 17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender ail t6e rents and revenues of the Property. I3orrawer authorizes Lender ar Lender's agents ea collect the rents and revenues and hereby directs each tenant of the Property to pay the renEs to Lender or Lender's agents. However, prior Co Lender's notice to 8orrower of 13orrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues af the �roperty as trustee for the benefii of Lender and Borrower. This assignmeni of rents consti�utes an absolute assignment and not an assignment for additional security only. lf Lender gives nolice of breach to Borrower: (a) all rents received by Borrawer shall be heid by Borrower as trustee for bencfiE of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shail be entitled ta u>llc;ct and re;ceive all of ihe rents af the Property; and (c} each tenant of the Property shall pay all rents due and unpaid ta Lender or Iznder's agent an Lender's written detnand to khe lenant. Sorrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender Frorn exercising its rights under tlus paragzaph 17. Lcnder shall not be required to enter upon, take control of or maintain the Property before or after giving notice of breach tc� Bc�rrower. Ht�wever, Lender or a judicially appainted rec;eiver may do so at any time tl�ere is a breach. Any application of rents shall not cure or waive any defauft 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 fuli. 1 -o aa162 irtitiais: �-4N{Nf} �oao�} Pege6 of 8 6