|
� , , � , ..
<br /> -� . .• , , .
<br /> ;.,,,. . , ..�.�,� .. .
<br /> ,• . � � .�.,,.;;,�w.�,
<br /> ,.,..r . . . . . �...�,. _:
<br /> �,-S .. . , . .. � . - , , - .����,i'ro
<br /> .5 . . . , _.:d:�
<br /> . � . . , .��� ' --
<br /> . � . � � '•�� .
<br /> - � .. '� .l; r —
<br /> . .. .. . .. ., . _ .. .. . .. . . - _ . . .• - _� i. -�
<br /> : 1 . �= .
<br /> :�,::
<br /> .� � ��n�.-_
<br /> i � � �,�e��:t1��56 � :�:,.-
<br /> ' �� + G.ASSIGNMENT OF LEASES. Upon Le:ndcr's requcst,Borrower sh�ll assign to Lcndcr all lcascs�f thc ��_,�=_
<br /> ����,� Pcoperty and all security dcposits madc in wnnecdon with lcases of thc Properry. Upon thc assignment,J..,endcr ""��"�.r=;.
<br /> , •, � shall have the dght w madify,extcnd or terminate the existir�g lcases and to execute new Icases,in Lcndcr's solc ;��,,„_
<br /> �
<br /> dLscreaon.As used in this paragraph G,the word"lease" shall mean "sublease" if the 5ecuriry Inswment is on s :;�•f�
<br /> lcaschold. •'"'-��=��
<br /> . � � :,;:4 a,�:-.
<br /> H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. -
<br /> Borrower absolutely and unconditionally assigns and transfers to I.ender all the rents and revenucs("Rents")of'the p�`�
<br /> �.:•.,.-
<br /> Property, regardless of to whom thc Rcnts of thc Property are payable.Borrower authorizcs Lender or Lcnder's �.��:�____
<br />_ agents to collcst the Rents,and agre,es that each tenant of the Property shall pay the Rents w Lendcr or I.ender's -;�:�,�Y:-
<br /> ;, agents.However,Borrower shaU receive the Rents until(i)Lender has given Horrower nodce of default pursuant to '�:•�::=
<br /> ;;� paragraph 21 of thu Ser.urity Instrument nnd(u)Lender has given nodce to the tenant(s) that the Rents are to be ;=
<br /> paid to Lcnder or Lender's agent. This aa�ignment of Rents constitutes an absalute assignment and not an ;"-�
<br /> • � + assignment for addidonal security only. ��`��--
<br /> If I.ender gives notice of breach to Borrower.(i)all Rents received by Boaower shall be held by Borrower as =_ _
<br /> trustee for the benefit of Lender only,to be applied to the sums secured by the Security Instrument;(u)Lender shall �:�•�--
<br /> be entided to collect and receive aU of the Rents of the Property; (iii) Borrower agrces that esch tenant of the
<br /> .��' Property shall pay all Rents due and unpaid to Lender or Lender's agents upon L.ender's wriaen demand to the �_
<br /> tenant; (iv) unless applicablc law provides otherwise,all Rents collested by Lender or Lendcr's agents shall be _
<br /> • '� applied fust to the wsts of taking control of and managing the Praperty and collecdng the Rents,including,but not =--
<br /> ,� limited to,attomeys' fees,receiver's fecs, premiums on receiver's bonds,repair and maintenance cosu,insurance
<br /> premiums, taxes, assessments and other charges on the Property, and then to the sums se�ured by the Security
<br /> _�� Instrument;(v)Lender,Lender's agents or any judicially appointed receiver shall he liable to account for only those
<br /> -___.._ _—_�. prnt�scwally T��Piy��; An�i !vi) L.endcr shell }�e entidcd to have a receiver appointed W take possession of pnd
<br /> manage the Property and collect the Rents and profits derived from the Property without any showing as to the
<br /> �•.� inadequecy of the Property as security.
<br /> , �F If the Rents of the Fmpercy aze not sufficient to cover the costs of taking control of and managing the �
<br />- , Property and of collecting the ltents any funds expended by L.ender for such purposes shall become indebtedness of
<br /> . Boirower to Lender secured by the Secwity Instrument pursuant to Uniform Covcnant 7.
<br /> Borrowcr represents and warrants that Borrower has not executed any prior assignment of Ihe Rents and has
<br />' ' ' not and will not pedorm any act that would prevent Lender from exercising its righis under this paragraph.
<br />� r Lender,or Lender's agents or a judicially appointed receiver,shall not be required to enter upon,take control
<br /> of or maintain the Property beforc or after giving nodce of default to Borrower. However,I.end.er,or I.ender's
<br /> .• • . agents or a judicially eppointed receiver,moy do so at any tlme when a default occurs. Any applicadon of Renis
<br /> �;::,;r•:. �.., st�all not cure or waivc any default or invalidate sny other right or remedy of Lender.This assignment of Rents of .�
<br />=;` . `. `,, thc Property shall tcrminate when all the sums secured by the Security Instrumcnt ere paid in full.
<br /> ' "° I.CROSS-DEFAULT PROVISION. Borrower's default or breach under any note or agrccmcnt in _
<br />�' ...t which Lender has an interest shall be s bresch under the Sceuriry Instrument and Lender may invoke any of Ihe �
<br /> • rCmcdies pecmiued by the Security Inswmen� --
<br /> - - BY 5IGrTING BELbW,Borrower eccepts and agrees to the terms and provisions contained in Q�is 1-4 Family �
<br /> ;., �;
<br /> • Rider. _
<br />�_ ... . /J .'� �'.
<br /> ,�r��3��td�t4 �/L�iy�—`(Scal) C.U (Seat) k::
<br />- , r SHAWN L VANCE -Borrowar KIMBERLY K ANCE •Borrower ----
<br /> � _ (S�) �g�) � -
<br /> -aortower •Bonower - --
<br /> �.��-
<br /> . ��-
<br /> ` �•Sy (9704).Ol a.o•z oi x c Form 3170 3/93
<br />- _ .. .. . l
<br /> _ . _. � . -
<br /> � �
<br /> �
<br /> �� _ _ _
<br />
|