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<br />G, ASSIGNMENT OF LEASES. Upon 1..ender's request, BorTQ\\'ef' shall assign to Lender alllews of the
<br />Propeny and all security deposits made in tonnectiop with leases of the Property. Upon the assignment, lender
<br />shall have the right to modify, extend or terminate the existing leases and to execute new leases, in lender's sole
<br />discretion. As used in this p:uagraph G, the word "lease" shatl mean "sublease" if the Security Instrument is on
<br />a leasehold.
<br />H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSF..SSION,
<br />Borrower absolutely and unconditionally assigns and transfers to Lender~1 the rents and revenues ("Rents") of
<br />the Propeny, regardless of to whom the Rents of the Property are payable. Borrower aulttorizes lender or
<br />Lender's agents to collect the Rents. and agrees that each tenant of the Property shall pay the Rents to lender or
<br />Lender's agents. However, Borrower shall receive the Rents until (i) Lender has given Borrower notice of default
<br />pursuant to paragraph 2 i of the Security Instr.lInent and (ii) Lender has given notice to the tenant(s) that the Rents
<br />are to be paid to Lender or Lender's agent. This assignment of Rents constitutes an absolute assignment and not
<br />an assignment for additional security only.
<br />If Lender gives notice of breach to Borrower: (i) all Rents received by Borrower shall be held by Borrower
<br />as trustee for the benefit of Lend.er only, to be applied to the sums secured by the Security Instmment; (ii) lender
<br />shall be entitled to collect and receive all of the Rents of the Property; (iii) Borrower agrees thaI bch tenant of the
<br />Property shall pay all Rents due and unpaid to Lender or Lender's agents upon Lender's written demand to the
<br />tenant: (iv) unless ;;~plicable law provides otherwise, all Rents collected by Lender or Lender's agents shall be
<br />applied first to the costs of taking control of and managing the Property and collecting the Rents. including, but
<br />not limited to, attorneys' fees, receiver's fees, premiums on receiver's bonds, repair and maintenance costs,
<br />insurance premiums. taxes, assessments and other charges on the Property, and then to the sums secured by the
<br />Security Instrument; (v) Lender, Lender's agents or any judicially appointed receiver shall be liable to account for
<br />only those Rents actually received; and (vi) Lender shall be entitled to have a receiver appointed to take
<br />possession of and manage the Property and collect the Rents and profits derived from the Property without any
<br />showing as to the inadequacy of the Property as security.
<br />If the Rents of the Property are not sufficient to cover the COSts of taking control of and managing the
<br />Propeny and of collecting the Rt'nts any funds expended by Lender for such purposes shall become indebtedness
<br />of Borrower to Lender secured by the Security Instrument pursuant to Uniform Covenant 7.
<br />Borrower represents and Warrants that Borrower has not executed any prior assignment of the Rents and has
<br />not and will not perform any act that would prevent Lender from exercising its rights under this paragraph.
<br />Lender, or Lender's agents or a judicially appointed receiver, shall not be required to enter upon, take
<br />control of or maintain the Property before or after giving notice of default to Borrower. However, Lender, or
<br />Lender's agents or a judicially appointed receiver, may do so at any time when a default occurs. Any application
<br />of Rents shall not cure or waive any default or invalidate any other right or remedy of Len~er. This assignment of
<br />Rents of the Property shall terminate when all the sums secured by the Security Instrument are paid in full.
<br />I. CROSS-DEFAULT PROVISION. Borrower's default or breach under. any note or agreement in which
<br />Lender has an interest shall be a breach under the Security Instrument and Lender may invoke any of the remedies
<br />permitted by the Sec~rity Instrument.
<br />BY SIGNING BELOW, Borrower accepts and agrees to the tenns and provisions contained in this 1-4
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<br />G::I:;' ),JvM-U_
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<br />GARc;t SCHNASE
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<br />(Seal)
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<br />ESTHER G SCHNAsE -Borrower
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<br />-Borrower
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<br />(Seal )
<br />-Borrower
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<br />(Seal)
<br />-Borrower
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<br />cD -57 1930<1,01
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<br />Form 3170 3/93
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