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201107779
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201107779
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Last modified
3/7/2012 11:06:53 AM
Creation date
10/18/2011 10:46:35 AM
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DEEDS
Inst Number
201107779
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201107779 <br /> 15. 8orrowef'S COpy. Borrower shall be given one confonned copy of the Note and of this Security <br /> Instrument. <br /> 18. Haza[dou8 Substances. Boiiuwer shall not cause or permll Ihe presence, use, disposal, storage�, or release <br /> of any Hazardous Substances on or in Ihe Property. Borrower shall nol do, nor aliow anyone else lo do, <br /> anything affecting the Property that is in violalion of a�y Environmen(al Law. The precedi�g hvo sentences <br /> shall not apply to the presence, use, or storage on the Property of small qtiantilies of Hazardous Subslances <br /> thaf are generally recognized m be appropriata to norntal ceside��ial uses and to malntenance of the Property. <br /> Borrower shall prumptly give Lender wci[ten notice of any inves�iga[ion, claim, demand, lawsuit or other <br /> aclion by any governmental or regulatory age�cy or private parly involving the Properly and any Haaardous <br /> Substance or Envirmimen[al Law of which Aorrower has ac�taal knowladge. If Sorrower learns, or is �otii3ed <br /> by any governmenlal or regulatory nulhority, diat any removal or o[her remedialion of any Haaardous <br /> Suhsta��ces affecting the Properfy is necessary, Borrower sLall promptly take all necessary remedial actions <br /> in accordance with Environmenlal Law. <br /> As used in this paragraph 16. "Hazarduns Subsfances" am lhose substances defined as toxic or hazardous <br /> substances by Environmental Law and the following substances: gasoline, kerosene, olher tlammable or loxic <br /> petroleum prodocts, toxic pesticides and herbicides. volatile solvenls, materials con[�ining asbestos or <br /> forn�aldehyde, and radioactive maferinls. As used in ihis paragraph I6, "Environmenta] Law" means federal <br /> laws and laws of lhe jurisdiction where [he Property is located tha[ relate to health, safety or environmental <br /> protection. <br /> Non-Uniforrrl Covenants. Borrower and Lender fiu'ther covenant and agree as follows: <br /> 17. ASSignment of Rents. Borrower mtconditionally assigns and transfers to Lendcr all the rents and revenues <br /> of lhe Property. Borrower authorizes L.ender or Lender's agen�s lo collect the rents and revenues and hereby <br /> directs each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's <br /> no[ice to Borrower of Bomower's breach of a�ry covena�t or agreemenl in the Security Inslrument, Boerower <br />, shall collect and receive all renGs and revenues of the Property as truslee for the benefit of Lender and <br /> Borrower. This assignment of rents constitutes an absolule assignmenl and not an assig��ment for addilionat <br /> security only. <br /> If Lender gives notice of breach to Borrower: (a) all rents received by Sorrower shall be held by Borrower as <br /> trustee for benefi[ of Lender only, to be applied to the sums secured by Hie Security Instrmnent: (b) Lender <br /> shall be entilled to collect and receive all of the renis of the Property; aod (c) each [enanf of the Properry <br /> shall pay all renls due and impaid lo Lender or Lender's agent on Lender's wri[ten dema��d m fhe tenant. <br /> Borrower has not executed any prior assignment of the rents anA has not and will not perform any act tha[ <br /> would prevent Lender from exercising its rights under Ihis paragraph 17. <br /> Lender st�all not be required to enter upo�, take control uf or maintain the Property before or after giving <br /> �odce of breach ro Borrower. However, Lender or a jadicially appointed receiver may do so a[ any lime <br /> there is a breacli. Any applicaHon of reuls shall not cure or waive airy default or invalidate any other right or <br /> remedy of Lender. This assignment of rents of �he Properly shall tcrminate when [he deht secured by the <br /> Securiry Inst�'ument is paid in tull. <br /> 18. Fo�eclOSUre R'ocedure. If Lender requires immediate payment in full under paragraph 9, Lender <br /> � may invoke the power of sale and any other remedies permitted by applicable law. Lendet shall be <br /> entitled to colleet all eicpenses incurred in pursuing the remedies Under this paragraph 18, including, <br /> but not limiteA to reasonable attorneys' fees and costs of title evidence. <br /> ooiizz5seosa c�nea�,m s.zso.oe vz <br /> VHP Mortgage WITH MERS-NE Reviced 4196 Amenaetl J104 <br /> VMP�hl VMP4N(NE)(1105J.00 <br /> wolmrs Rluwcr Financial Sorvices Paqc)o�ID <br />
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