|
_.�. .. ____
<br /> =.�,,. .
<br /> n • " .,
<br /> . _,.�,.
<br /> .t+}�+,l�tw.-� . - . .. .._ .
<br /> . . i..
<br /> , .. _ . . ...�._. ,.._._.._' '.........._.
<br /> , ' _ { . +v.-.>: • .
<br /> _ .. . � ,.�y'-.
<br /> . �
<br /> 'r. •yP��:'{�,9' .� , . . .. . .. , .
<br /> . i .. . . . .. - I - ' �r�''l.
<br /> �..4:.r:..
<br /> „r,...�r' .�h� i�ti��.�:�.
<br /> . :�..r,....:.('..!�+yy i.
<br /> .. •� ��i1K`o�r-�N-�_��.
<br /> 97 slo�o3 - �.� ��;�'�
<br /> ,.,� .����t:k.�.�
<br /> '����r�
<br /> G.ASSIGNMENT OF LF.ASFS. Upon L.endcr's requcst,lionowcr shall a.ssign W I.cndcr all lca.ses of thc �__ ---�
<br /> Property end all security dcposits mede in wnnccdon wlth Icases of�he Proparty.Upon the assignment, L.ender ��,y:v
<br /> shall havc thc dght to madify,cxtend or tcrminate thc cxisting lcases end to cxc;cutc ncw lcascs. in Lender's solc :��-���
<br /> -+�=_--
<br /> ,:..>�--
<br /> discretion. As used in this paragraph G,the word°lease" shall mean 'sublease" if the Security Inswment is on a �„:�______.
<br /> lenschold. � .�
<br /> :.,�.
<br /> N. ASSIGNMENT OI� ItENTS; APPOINTMENT OF RECEIVER; LENUER IN POSSESSION. :�;�=
<br /> Boaowcr absolutcly and unconditianelly sssigns end trar►sfere to I.cndcr all the rents and revenues("Rants")of thc ��;�:.,
<br /> Property,regardlcss of to whom thc Ftents of the Properly aze payable. Borrower authorixes L.endcr or I..ender's �."�r:�?�?_
<br /> agenu to collcct the Rents,and agrces that cach tenant of thc Propc:rty shall pay the Rents to Lender nr L.ender's . '--=��'_-
<br /> .,>.� agents.However,Bonower shaU receive the Rents until(i)Lender has given Borrower nodce of default pursuant to ���"'°�q;�
<br /> �' paragraph 21 of the Sec�uiry Inswmant and(ii)Lendcr has given nodce to the tenant(s) that the Rcnts arc to be " �r�-`� �
<br /> A\A!0!l!1-
<br /> paid ta Lender or Lender's agenG This assignment of Rents consdtutes an absclute assignmcnt and not an .` -:{=�f,_
<br /> . assignment for additional securiry orly. "`�:t`'. - .�
<br /> � If Lender gives notice of breach to Boaower:(i)all Rents received by Borrower shall be hcld by Borrower as
<br /> ,�i..
<br /> �. trustee for the bena�t of Lcnder o»ly,to be appGed to the sums secured by the Security lnstrument;(ii) Lender shall = �;.�;_-•
<br /> be endded to r,ollect and receive aU of the Rents of the Property: (iu) Borrower agrees that each tenant of the ��-
<br /> Property shall pay all Rents due and unpaid to Lendcr or Lender's agcnts upon L.endcr's written demand to the '«
<br /> ���.
<br /> ienani; {!�) u111ess 8gplirgh�r IAw provides otherwise. all Rents collected by Lender or I.ender's agents shall be .1 �:__
<br /> applied fust to the costs of taking e:ontrol uf and managing the Property and collecdng the Rents,including.but not "� �_
<br /> limited to,attomcys' fecs,receiver's fees,premiums o n r e c e i v e r's b o n d s,r e p a i r and maintenance costs,insurance '�����•~
<br /> premiums, taxes,assessmencs end o�her charges on the Property, and then to the sums secured by the Security . �
<br /> Instrument;(v)Lender,Lender's agents or any judicially appointed receiver shall be liable to account for only thosc _
<br /> Rents acWally received; and (vi) I.ender sh�ll be entided to have a receiver appointed to take possession of and . ;� -_
<br /> manage the Property and collcct the Rents and profits derived from thc Property without any shawing as to the f,.
<br /> inadequacy of the Pcoperty as securiry. .
<br /> If the Rents of the Property ere not sufficient to cover the costs of talcing control of and managing the �...
<br /> Property and of collecting thc Rents en.y funds expended by Lcnder for such purposcs shall become indebtedncss of � ,.
<br /> Bonower w I.cnder secured by thc Security Instrumcnt pursuant to Uniform Covenant 7. `�-
<br /> Bonowcr rcprescnu end wart�►ts that Borrower has not executed any prior assignment of thc Rents and has ��
<br /> �:_
<br /> not and will not perform any act that would prevent Lender from cxercising its rigtus under this paragraph. i:
<br /> Lender,or Lender's agenis or a judicially appoinccd receiver,shall not be required to enter upon.take control
<br /> � of or maintsir► the Properry bcforc or after giving noflce of default to Borrower. However,Lendcr. or Lcnder's _
<br /> agents or a judiciaUy appointed receiver,may do so at any time when a default occurs. Any applicatian of RQnts _
<br /> shall not curc or waive any default or invalidat�;any other right or remedy of I.ender.This assignmcnt of Rents of __
<br /> the Froperty shall terminatc whcn aU the sums sccured by the Sccurity Instrument arc paid in full. _ __ _ _- :
<br /> � I.CROSS-DEFAULT PROVISIUN. Bonowcr's default or breach under any note or agrcement in r_��LL�
<br /> ,� which Lcnder has an intcrest shall be a brcach undcr the Securiry Instrumcnt and Lender may invokc eny of the
<br /> rcmedics permitted by the Security Inst:umen� •��'�
<br /> BY SIGTIING BELOW,Borrower accepts and agrees to the terms and provisions contained in this 1-4 Family 7`'r�' s�"'�_
<br /> . i r �-�'w:�,�;,:
<br /> 1 Ridcr. 'w,�:• c, 5+. .
<br /> . '�,;
<br /> : ;`.��`-',
<br /> j _Scal) ��-�i �c ',lL�°�''"�-� —(Scal) .''` .: .. .,....
<br /> < <
<br /> � GO N D TiiIESSEN •Horrowcr TERP.I I, THIESSEN -Hortawcr ,.
<br /> I '
<br /> i
<br /> �5�� �S��
<br /> � •Borrowcr -Iiorrower I
<br /> I
<br /> I �
<br /> � I .
<br /> . I �-67 (9304).01 Page 2 0�2 FQ�tR 3170 3193 I
<br /> ! .
<br /> � � --_ ...-.-__-_-
<br /> I I
<br /> I .
<br /> .
<br /> � f
<br /> �_ __ _ _ :_ - -
<br />
|