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<br /> '� G.ASSIGNMENT OF LEASES. Upon Lendea•'s request, Sorrower shall assign to-7.cndu etl leascs of the ---___
<br /> Praperty and all securiry deposits made in connecuon with leases of the Property. Upon the assignment,Lender . `=�-_
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<br /> shall have the right to modify,extend or tcrminatc thc cxisting Icases and to cxecutc new ]cases,in Lendcr s solc -
<br /> � dlscrcdon.As use,ci in this paragraph G,the word "lease" shall mean "sublease" if the Securiry Instrument is on a __
<br /> Icaschold. `_
<br /> H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSE9SION. .V,;f.
<br /> Horrawer absolutely and uncanditionally assigns and transfers to Lcnder aU the renu and revenues("Rents")of thc •;:-
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<br /> " Propccty. regardless of to whom the Rents of the Property arc payablc. Bonower authorizes L.ender or Lcndcr's ,.�,,
<br /> agents to collect the Rents,end agrees that each tenant of the Property shall pay the Rents to Lender or I.ender's ••_�
<br /> . agente.However,BoROwer shall receive the Rents until([)Lender has given Bonower notice of default pursuant to
<br /> � paragmpi� 21 af thc Security Instrumcnt and(u)L.endcr has givr,n nodcc to the tenant(s) that ttie Rcnts aze to be � ,?'_
<br /> � paid to L.cnder or Lendcr's agenG This assignment of Rents consdtute� an absolute assignmcnt and not an
<br /> nssignment for addidanal security�nly.
<br /> � If Lender gives norice af breach to Bonower:(i)all Rents received by Borrower shnll be held by Bonower as _
<br /> trustca for the bcnefit of Lender only,to be applied to the sums secured by tha Security Insuument;(ii)Lendcr shall
<br /> Ixi endded to collect and receive all of the Rents of the Property; (iii) Borrower agrees that cach tenant of thc
<br /> ' Propaty shall pay all Rents due and unp�id to Lender or Lender's agents upon L.endec's writun demand w the _
<br /> �• tenrinG (iv) unless applicable law provides otherwist3, all Rents collected by Lender or Lender's agents shall be —
<br /> applied firat to thc costs of taking cantrol of and managing the Property end coUecting the Rents,including,but not
<br /> • limited to,auomeys' fees,receiver's fees,premiums on receiver's bonds,repair and mauitenance cos�s� insurance
<br /> ` � pr�miums,taxes, assessments and other cherges on the Property,and then to the sums securcd by the Security -
<br /> InswmenG lv)Lender.Lcnder's aBents or eny judicially appointed receiver shall be liable to account for only those
<br /> Rcn4v�ctualiy rcccived;and(vi) Lcnder shall be entided to have a receiver appointed to take possession of and -
<br /> � manage thc Property and collect the Rents and pro�ts derived from the Property without eny showing as to the
<br />- Inadequacy of the Pmperty es securitY.
<br /> •� If Ihe Ren4s of the Propeny ere not sufficient to cover the costs of taking control of and managing the
<br /> Property and of collccdng the Rents any funds expended by Lender for such purposes shall bccome indebtcdness of
<br /> Bnrrower to i.ender socured by the 5ecudty Instrument pursuant to Uniform Covenant 7.
<br /> Borrowcr represents end warrants that Borrower has not execuud any pdor assignment of the Rcnts and has
<br /> � not and wip not perform eny act that would prevent Lender from exercising its dghts under thls paregraph.
<br /> l.cnder,or l,cnder's agents or a judicially appointed recciver,shall not be requimd to enter upon,takc control
<br /> ' " af or maintain the Property before or aftcr giving no6ce of dcfault to Borrowcr. Howevcc, Lta�der,or Lendcr's
<br /> ugent�ar a judkiapy appointed receiver,may do so at any time when a default occurs. Any application of Rents
<br /> . - shall not curc or waivc any default or invalidatc any othcr right or remedy of Lcnder.This assignment of Rents of
<br /> " �he Property shaU terminate when all the sums secured by the Security Instr�ment ere paid in full. _
<br /> I,CItOSS-DFFAULT PROVISION. Borrower's default or breach under eny note or agceement in _
<br /> � which I.ender has en interest shall be a breuch under the Securlty Instr�ment and Lender may invoke any of!he -
<br /> rcmcdics ncmnftted by d�e Security Inswmcnt.
<br /> � BY S1ON1NCi BELOW,Borrower accepts and agrees to the tecros and provisions contained in this 1-4 Family -
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<br /> ���,��_�.-_I���, x�/ (sC�II) v��.l,C.l.(� o.�.nI�1Y��.-SL (sC31� --
<br /> ' ' �KEITH H PIRNIE -Borcowur PATRICIA A PIRNIE •Bonowcr -
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<br /> •Rorrowcr -Borrowcr '
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<br /> � � �•67 �u�ai o� Pey z oi z Form 3170 3183 �
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