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<br /> ,„,;.�w�` • G.ASSI(iNMENT OF'LEASES. Upon Lcr►dcr's rcqucst,Borrowcr shall assign to l.endcr ell lcascs of thc ='�-
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<br /> . • • •� Property and all security deposits made in connection with leases of the Propecty. Upan the assignment,Lender . , ;_-
<br /> shail havc thc right to modify,cxtcnd or terminate the exisdng leases and to execute new leascs,in L.cnder's solc ��'�
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<br /> discredon.As used in this paragraph G,the word"lease" shall mcan"sublcasc"if the Sccurity Inswment!s on a
<br /> Icasehold.
<br /> H. ASSICNMENT OF RENTS; APPQJNTMENT OF RECEIVER; LENDEIt IN POSSESSIC)N. _
<br /> Bonower absolutely and unconditionally assigns end transfers to Lendcr aU the rcnts and revenues("Rents")of the
<br /> Property,regardless of w whom the Rcnts of the Property arc payable. Borrower authotizes Lendcr or Lcndcr's
<br /> agents to collect the Rents,and agrees that each tenant of the Properry shell pay the Rents to L.ender or L�ender's
<br /> - agcnts.However,Bonower shall rcceive the Renis unW(I)Lcndcr has given Borrower noUce of default pursuant to ,�`�
<br /> paragraph 21 of the Security Instrument and(ii)Lender has given nobce w the tenant(s)that the Rents are to be
<br /> `, paid to Lender or Lender's agenG This assignment of Rents consdtutes an absolute assignment and not an
<br /> " assignment for addidonel securiry only. •�,
<br /> !� If Lender gives nouce of breach to Boaower: (i)all Rents received by Borrower shall be held by Borrower as �:_"
<br /> `j trustee for the benefit of L.ender only,to be applled to the sums secured by ihe Security Instrument;(n)L,ender shall
<br /> .�� be entided to collect and receive all of ihe Rents of the Property; (ui) Bonawer agrees that each tenant of the
<br /> Property shall pay all Renu due and unpaid ta Lender or Lender's agents upon Lender's wrltten dcmand to the
<br />- tenant; (iv) unlcss applicable law providcs othcrwise, all Rcnts callected by Lcnder or Lender's agents shall bc
<br /> npplied first to the wsts of takNg control of and managing ihe Property and collecing the Rents,including,but not =
<br /> limitcd w,attorncys' fecs,rcceivcr's fecs,prcmiums on rcxcivcr's bands,rcpair and maintenance costs,insurancc _
<br /> prcmiums, taxes, asscssmcnts and other chergcs on the Prapeny. and thcn to�hc sums securcd by tha Securlry �
<br /> Inswment;(v)Lender,Lender's agents or any judicinlly appointed rxcivcr shall be liable to account for only thrne -
<br /> Rcnts aceually rcceived; and (vi) Lcndcr shal!bc cndtled w havc a receivcr appointcd to takc possession of nnd =
<br /> , ----'- -- managc thc e•ropercy and coiicct ihc Ranin i��d p�ofiis deri�r,d trssr ilt�Progest, :�i!tto�t any sh�wLng ac rc,�he -
<br /> inadcquacy of 1he Property es sccurity. _
<br /> If the Renis of the Property ere not sufficient to cover 1he costs of taking control of and managing the _
<br /> Property and of wllccting the Rcnts any funds cxpcndcd by Lcndcr for such purposcs shall bcxome indcbtcdncss of _-
<br /> Borrowcr to I.cndcr secured by the Security Inswrtsent pursuant to Uniform Covcnant 7.
<br /> ' , Borcower represents end wanants that Borrowcr has not cxecuted any prior assignment of the Rents and hes --
<br /> , , '., not and wW not perform any act that would prcvcnt L,cndcr from cxcrcising its rlghts under this paragraph.
<br />_ • �;' Lender,ar Lcnder's egents or a judicially appointcd receiver.shall not be rcquircd w enter upon,take control -
<br />-. • of or maintain the Property beforc or aftcr giving noticc of default to Roaower. However, Lendcr.or L,endcr's _,
<br /> � agents or a judicially appointed recciver,may do so at any time when a default occurs. My applicauon of Rents -
<br /> shall not cure or waive any default or invalidate any other right or remedy of Lcnder.This assignment of Rents of =
<br /> � the Pcoperty shall terminate when ull the sums secured by the Security Instrument are paid in full.
<br /> I.CROSS-DEFAULT PROVISION. Borrowcr's dcfault or breach under any notc or agreement in
<br />- which Lender has an interest shall be a breach under the Security Instrument and Lender may invoke any of the --
<br /> remedies permitted by the Secnrity Instrument. -.
<br />-- BY SIGNING BELOW,Borrower accepts end agrees to the terms and provisions contained in this 1-4 Famlly -
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<br /> ' COR D FREDERIKSEN •Borrowcr -Borrawor e•'�-
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<br /> -Rorrowcr •Bottowcr - _
<br /> ' (�j�-L7 (0301).O1 Pa�e 2 0l 2 ' For�n 9170 3193
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