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gg_ i�3645 G.ASSIGNMENT OF LEASES. Upon Lender's request, Bonower shall assign to Lender all leases of the Property and all security deposits made in connection with leases of the Property. Upon the assignment, Lender shall have the right to modify, extend or terminate the existing leases and to execute new leases, in Lender's sole discretion. As used in this paragraph G, the word "lease" shall mean "sublease" if the Security Instrument is on a leasehold. H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. Borrower absolutely and uncondirionally assigns and transfers to Lender all the renis and revenues("Rents")of ihe Property, regardless of to whom the Rents of the Property are payable. Bonower authorizes Lender or Lender's agents to collect the Rents, and agrees that each tenant of the Property shall pay the Rents to Lender or Lender's agents.However,Borrower shall receive the Rents until(i)Lender has given Borrower notice of default pursuant to paragraph 21 of the Security Instrument and (u) Lender has given nodce to the tenant(s) that the Rents are to be paid to Lender or Lender's agent. This assignment of Rents constitutes an absolute assignment and not an assignment for additional security only. : If Lender gives notice of breach to Bonower: (i)all Rents received by Borrower shall be held by Borrower as trustee for the benefit of Lender only,to be applied to the sums secured by the Security InsWment;(ri)Lender shall be entifled to collect and receive all of the Rents of the Property; (rii) Bonower agrees that each tenant of the Property shall pay all Rents due and unpaid to Lender or Lender's agents upon Lender's written demand to the tenant; (iv) unless applicable law provides otherwise, all Rents collected by Lender or Lender's agents shall be applied first to the costs of taking control of and managing the Property and collecting the Rents,including,but not limited to, attorneys' fees, receiver's fees, premiums on receiver's bonds, repair and maintenance costs, insurance premiums, taxes, assessments and other chazges on the Property, and then to the sums secured by the Security Instrument; (v)Lender,Lender's agents or any judicially appointed receiver shall be liable to account for only those Rents actually received; and (vi) Lender shall be entifled to have a receiver appointed w take possession of and manage the Property and collect the Rents and profits derived from the Property without any showing as to the inadequacy of the Property as security. If the Rents of the Property are not sufficient to cover the costs of taking conuol of and managing the Property and of collecting the Rents any funds expended by Lender for such purposes shall become indebtedness of Borrower to I,ender secured by the Security Instrument pursuant to Uniform Covenant 7. Borrower represents and warrants that Borrower has not executed any prior assignment of the Rents and has not and will not perform any act that would prevent Lender from exercising its rights under this paragraph. : Lender, or Lender's agents or a judicially appointed receiver, shall not be required to enter upon,take control of or maintain the Property before or after giving notice of default to Bonower. However, Lender, or Lender's agents or a judicially appointed receiver, may do so at any time when a default occurs. Any application of Rents shall not cure or waive any default or invalidate any other right or remedy of Lender. T'his assignment of Rents of the Property shall terminate when all the sums secured by the Security Instrument are paid in full. I.CROSS-DEFAULT PROVISION. Borrower's default or breach under any note or agreement in which Lender has an interest shall be a breach under the Security Instrument and Lender may invoke any of the remedies permiued by the Security Instrument. BY SIGNING BELOW,Bonower accepts and agrees to the terms and provisions contained in this 1-4 Family : Rider. , �°. cs�> - , > STEP N T BOWEN -Borrower ACQ INE E BOWEN -Bonower �5�� SP�� -Borrower -Borrower �-57 (9304).01 Pa9e 2 ot z Form 3170 3/93 11 V0�' I_ � �