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20�106254 <br />13. Notices. Any notice to Borrower provided for in this Security Instrument sha11 be given by delivering it or <br />by mailing it by first class mail unless applicable law requires use of another method. The notice sha11 be directed to <br />the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender sha11 be <br />given by first class mail to Lender' s address stated herein or any addre,ss Lender designates by notice to Borrower. <br />Any notice provided for in this Security Instivment sha11 be deemed to have been given to Borrower or Lender when <br />given as provided in this paragraph. <br />14. Governing Law; Severability. This Security Instrument sha11 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 applicable law, such conflict sha11 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 this Security <br />Instrument and the Note are declazed 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 sha11 not cause or permit the presence, use, disposal, storage, or release <br />of any Hazardous Substances on ar in the Property. Borrower sha11 not do, nor a11ow anyone else to do, anything <br />affecting the Property that is in violation of any Environmental Law. The preceding two sentences sha11 not apply to <br />the presence, use, or storage on the Property of sma11 quantities of Hazardous Substances that are generally <br />recognized to be appropriate to normal residential uses and to maintenance of the Property. <br />Borrower sha11 promptly give Lender written notice of any invesrigation, claim, demand, lawsuit or other action <br />by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance ar <br />Environmental Law of which Bonower has actual knowledge. If Borrower learns, or is notified by any governmental <br />or regulatory authority, that any removal or other remediarion of any Hazardous Substances affecting the Property is <br />necessary, Borrower sha11 promptly take a11 necessary rem�iial actions in accordance with Environmental Law. <br />As used in this pazagraph 16, "Ha7ardous 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 groducts, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, <br />and radioactive materials. As used in this paragraph 16, 'Bnvironmental 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-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: <br />17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender a11 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 Property 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 sha11 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 Lender gives notice of breach to Borrower: (a) a11 rents received by Borrower sha11 be held by Bonower as <br />trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall be <br />entitled to colle,ct and receive a11 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 ar a judicially appointed receiver ma,y do so at any time there is a breach. <br />Any application of rents sha11 not cure or waive any default or invalidate any other right or remedy of Lender. This <br />assignment of rents of the Property sha11 terminate when the debt secured by the Security Instrument is paid in full. <br />11- 6 <br />Initials: �r,r� <br />�-4N(NE) �oaa�> Page 6 of 8 `l�U <br />