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<br /> - .- ;; G.A36IGNMCNT OF LEAS�S. Upon Lender's rcqaest,Bonowcr shnll nssigu to Lcndcr all lcases of�hc �,"_'
<br /> �� Property end aU security deposits made in connecdon with leascs of the PropeRy. Upon Ihu assignment,Lc:ndcr
<br /> � shall hqve the right to modify,cxtend or tcrminatc the existing tcascs and w execute ncw Iease.5,in Lcndcr's sola
<br /> •�N discredon. As used in this paragraph Ci,lhc word "lease" shall mcan "sublcasc" if thc Sccuriry Instrumcnt is on u
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<br /> H. ASSI(iNMENT OF R�NTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. -
<br /> ;� 13onowcr absolutely a�id uncandidonally assigns and transfers to Lender all the rcnts and revcnues("Rcnts")of thc .-____
<br /> " , Property,regardless of to whom the Rents of the Property arc payable.Borrowcr authorizes I.ender or Lender's ��
<br /> , agcnts to collect thc Rente,and agrecs that each tcnaut of thc Property shaU pay�he Rents to Lcnder or Lender's �"'�
<br /> � agenu.However,Borrowcr shall receivc thc RenLs until(i)Lcnder has given Boaower notice of default pursuant to
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<br />- paragraph 21 of the Security Instrument and(�i) Lcnder has glvcn notice to thc tcnant(s) ihat ihe Rents are to bc �,__
<br /> paid to L�endcr or Lender's agcn� This assignment of Rents consdartes an absolute assignmcnt and �ot an �:
<br /> assignmcnt for additianal sectuity only. ��'
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<br /> ' ' If Lender gives nopce of breach to Bonower:(iJ�aU Rents receivrd by Bonower shall be held by Borrov�er es �:_- --
<br /> truscce for the benefit of Lcnder only.to be a�plied to the sums secured by the Securlty Ins�rument;(ll)I,ender shall Er.-"—
<br /> " be endtled w collect and receive all of tho Rents of the Property; (iii) Hoaower agccrs that each tenant of the �_-
<br /> Proputy shell pay all Rents due and unpaid w Lendcr or Lender's agGnts upon L.ender's written demand to the �:'
<br />. tenant; (iv) unless applicuble law provides otherwisc,all Rents collectrd by Lender or Lender's agents shall be _._
<br /> , . eppfled Cust to the costs of taking conuol of end managing the Property and collecdng the Rents,including,but not ���
<br /> „ � limited to,auomeys' fees,rer.eiver's fees,premiums on receiver's bonds,repair and maintenance costs,insurance �
<br />" premiums, taxes, assessments and other chargcs on the Property, and then to the sums secured by the Security e�`
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<br /> � �a Inslrument;(v)I.ender,Lender's agents or any judlcialiy appointed receiver shall be liable w account for only those =
<br /> �: Rents acwally received;and (vi)I.cndcr shall bc entiticd to have a receiver appointcd to talce possession of and
<br /> managc the Property and coUcct tt�e Rents end profits derivcd from the Propercy without any showing as to the
<br />_, _-_—- inedequacy of[he Froperty+u�ci:wity.
<br /> ` If the Rents of the Proputy are not suf�cient to cover the costs of taking control of end managing the
<br /> � � �� '� Property and of collacting the Rents any[unds expended by L.ender for such purposes shall become iadebudness of
<br />_. � Aorrowcr to Lender secured by the Sccurity Instrument pursuant to Unifonn Cavcnent 7.
<br />- Horrower represents and warrants that Borrower has not cxccutcd any pr�or assignment of the Rents und hes
<br /> ,� • . not nnd will not perform any act that would prcvent L.cndec from exe�rcising its riBhts under this paragraph.
<br />=M1� ' L.endu,or Lendcr's agents or a judicially sppointed receiver,shall not be requircd w cnter upon,take control
<br /> - � �� of or mainteln the Property lx:fore or aftcr giving notice of default to Borrower. However, Lender,or I.ender's
<br /> . . .,,.,�; , agents or a judicially appolnted receiver,may do so at any time when a default occurs.Any applicadon of Ytcnts
<br /> • ' shall not cure or waive any default or invalidatc any other right or remedy of Lender.This assignment of Rents of
<br /> ' the Property shall terminate when all the sums secured by the Security Instrument are paid in full.
<br />;,•���t.": ' _y ' I.CROSS-DEFAULT PROVISION. Borrowcr's dofault or breach under any note or agreement in
<br /> r._,_;�. . which Lcnder hus an incerest shall bc a breach undcr thc Security Instrument and I.ender may invoke any of the
<br /> �.� �, remedies permitted by thc Sccurity Insuument, _
<br /> � BY SIGNING BELOW,Boaower accepts and agrees to the tcrrtis and pmvisions conte.ined in this 1-4 Family __�
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