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<br /> ,.�...�' G.ASSIGNMF.NT QF LF.ASIsS. Upon L.cndcr's rcqucst, Borrowcr shall assign to l.cndcr ap lu►sc.4 of thc x��• �T-�'�,'����
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<br /> � -• Propcny nnd all security dcposit9 n�adc in cannccdon with Icascs of thc Property. Upan tha assignmcnt, L.cndcr ti. U�;�.
<br /> ~ � shull hnvc thc right to modify,cxtcnd ar tcrminutc thc cxisung Icasc.s and to cxccutc ncw Icases,in Lendcr's snlc °,�., ;s:,�- c v_^_.
<br /> ' discretion. As uscd in this paragmph G,thc word "Ic�tiSC" shall mcan"su6lcas�;" it thc Socuriry Instrument is on a '�"-.�=.'' _-
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<br /> H. ASSIGNMF.NT OF RENTS; APPOINTMBNT OF RECEIVER; LENDER IN POSSESSION. ---
<br /> Horrower absolutcly end unconditionally assigns and transfcrs to L.cndcr eU thc rents and revenues('Rents")of thc -_--
<br /> Property, rcgerdlcss of tn whom ihe Rents of ihe Property arc payabla Dorrower auihoru.es Lendcr or l.endcr's .�r��'"
<br /> agents w collect the Rcnts,and agrccs that cach tcnant oF thc Property shaU pay the Rcnts to L.cnder or L.endcr's --
<br /> agcnts.However,Boirowcr shall rcceivc thc Rcnts until(i)I.cnder hac givcn Borrower nodcc of default pursuant to
<br /> paragraph 21 of thc Sec:uity Insurument and{ii) Lendcr has givcn notice w thc tcnant(s) thnt the Rcn�S arc to bc ____
<br /> paid to I.ender or Lcndcr's agcnG 'Itiis assignment of Rcnts constiwtcs tu► absolutc assignmcnt and not an ':_�-•--
<br /> assignmcnt for additional security only. �;'�"'-
<br /> '� If I.ender givcs noucc of brcach to Bortowcr:(i)all Rents reccived by Borrower shall bc held by Borrower as - ':�=--
<br /> - trustee for the bcnef t of Lcndcr only,to be applied to thc sums securcd by the Sccurity Instrument;(ii)L.cnder shall �
<br /> be entided to coUect and receive all of the Rents of the Property;(iii) Borrower agrees that each tenant of the ---
<br /> • Property shaU pay all Rcnu duc and unpaid w L.cnder or Lendcr's agcnts upon I.cnder's written demand to the -"
<br /> f tenant; (iv) unless applicable Iaw provides otherwise. aU Rents collected by L.ender or Lender's agents shall be �._'
<br /> applied first to the costs of laking control of and menaging the Pr�pe�ty and coAecting the Rents,induding,but not �:_�—
<br /> limited to.attorneys' fecs,recciver's fe�es.prcmiums on reccivcr's bonds,rcpair and maintenance costs,insurance � _
<br /> premiums, taxes,assessments and other charges on the Propecty, and then to the sums secured by the Securlty °�r`
<br /> _- __ IIlS�rllmCili;{v�Lrn�rs,t r��IP.�'c a_oPnrc or nny judiciatly an�inted receiver shall be liable to eccount for only those �+�
<br /> Rents acwally received; and (vi) Lendcr shall be cndUed to havc a receiver appointed w take possession of and �.
<br /> ,• manage the Property and collect the Rents and proCts derived from the Property without any showing as to the �'
<br /> inadequacy of�he Property as security. �.
<br /> • � , If the Rents of the Property are not sufficient to cover the costs of taking control of and ma��eging the �``
<br /> Property and of collecdng the Rents any funds expended by Lender for such purposes shall become indebtedness of 4'r
<br /> � � Borrower to Lender sectued by the Security Instrument pursuant to Unifortn Covenant 7. �-`
<br /> " ' ' Bormwer ropresutts and warrants that Borrower has not cxecutcd any prior assignmcnt of the Rents and hus �5
<br /> � ` not and will not perfonn any act that would prevent Lender from exercising its rights under this paragraph. E�.__ _
<br /> ' L.ender,or Lender's egents or a judiciaUy appointed recciver.shall not bc requ�red to enter upon,take control -
<br /> of or maintain the Property beforc or after giving notice of dcfault to Sorrower. However,L.ender, or Le�der's �:-
<br /> J ' .:;: agenu ur a Jud3cielly appointed receiver,may do so at any ame when a default occnrs.Any application of Rents
<br />='' ��'��''='' ' shall not cun or waive any default or invalidatc any othcr right or rcmedy of I.ender.'If�is assignment of Rents of _
<br />-''"�"' '" :� ihe Property shall terminate when all tha sums secured by the Security Instrument are paid in full.
<br />'���.��� . � I.CROSS•DEFAULT PROVISION. Borrowcr's default or breach under any note or agrcement in -
<br /> � which Lcndcr has an interest shall be a brcach under the Sccurity Instrument and Lcndcr may invokc eny of the - _
<br />�:' ' remedies permittal by the Security InstrumenG
<br />_;- BY SIGNING BfiLOW,Borrower accepts and agrees to the tecros and provisions wntained in this 1-4 Family �':
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<br />'�' "� DEAN E BOWLING -Borrowcr STEPHANI E BDWLING -eorrower
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<br /> •Bortowcr •Bortower . --
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