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<br /> 98- �12'732
<br /> G. ASSI(:NMk;IVT OF L,EASES, Upon Lender's requcst, Bormwer shxll as�i�n to L,cndcr all Ic�.�es of th�
<br /> Propeny �nd wll security JeNoalta m�de in conncction wtth Icascs of the Propeny. Upon the assignmrnt, l.ender
<br /> shnll have the rlght ta modify,cxtcnd or terminatc thc existing leases and to cxecuce new Ieasea, in L.�nder's sole
<br /> di�;rrtiuu.As used in this paragraph G,the word"lcasc" shall mcnn "suhlcaSe" if the Security Instrumcnt is on _
<br /> A leuehold.
<br /> fi. ASSIGNMENT OF RENTS; APPOINTMFNT OF R�CI:lVER; LENAF.R IN POSSESSION.
<br /> Borrower absolutely azid unconditionally assigns and trar�sfers to Lcndcr all thc rents and revenucs ("Itents")af
<br /> the Propeny, regardless of ta whom [he Rcnts of the Property are payable, Borrowcr authori7.es i.,endcr or
<br /> L.end�r's agents to collect the Rents, and agrees tha[each tenant of the Prapeny shall pay the Rcnts to l�ender or
<br /> L,ender's agents. E{owcver, Borrawer shall receive the Rent�until(i)I.ender has given Borrower notice af dcfault
<br /> pursuent to puagrAph 2l of thc Security Insuumcnt and(ii)Lcnder has given notice to thc tenant(y)that the Rents
<br /> are to be pAid to Lender or l.ender's agent, '1'his assignment of Rents constitutes an absolute assignment and not
<br /> an assignment for ndditional ucurity only.
<br /> If l..ender givos notice of breach to Bonower: (i)all Ronts received by Borrower shall be held by Borrow�r
<br /> as trusta for the beneflt of Lender only,to be applied to the sums securai by the Security Instrument;(ii)L,ender
<br /> sh�ll be entitled to Goltect and receive all of the Rents of the Propeny; (iip Borcower agras that each tenant af the
<br /> Propeny shall pay all kents due and unpaid to Ixnder or Lender's agents upon Lcndcr's written dcrosnd to thc
<br /> tenant; (Iv) unless applicable law provides otherwise. all Rents coliected by Lender or Lender's agents shall bc
<br /> appliui first to the costs of taking control of and managing the Property and collxting the Rents, including,but
<br /> not limited to, attomeys' fees, receiver's fces, premiums on receiver's bonds, repair and meintenance costs,
<br /> insurance premiums, ta�ces, assessments and other charges on the Property, and then to�he sums xcured by the
<br /> Security Instcument;(v)Lender, Lender's agents or any judic[ally appainted receiver shall be liable to account for
<br /> only those Rents actually received; and (vi) Lender shall be entitled to have a receiver appointed to take
<br /> possession of and manage the Property and collcet the Rents and profits derived from the Property without any
<br /> showing as to the[nadequacy of the Pr�perty as security.
<br /> If the Rents of the Property are nat sufficient to cover the costs of taking control of and managing the
<br /> property and of collecting the Rents any funds eapendal by L.ender for such purposes shall become indebtedness
<br /> oi Borrower io Lcuuci�ci.itac��'ij%iC.°,C.."i3T::j'�.^.�:f122::Ri Y�I�!lP.�!!S4 T IR�[��('�yrnant 7.
<br /> Aorrower repr�sents and warrants that 8orrower has not executal any prior assignment of the Rents and has
<br /> not and wili not perform any act that would prevent Lender from exercising its rights under this paragrapl�.
<br /> I.�nder, or Lender's agents or a judicialty appointed receiver, shall nut bc rcquired to en[er upon, take
<br /> control of or maintain the Propeay before or after giving notice of default to Borrower. However, Lender, or
<br /> Lender's agents or a judicially appointed receiver, may do so at any time when a defautt occurs, Any application
<br /> of Rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment�f
<br /> Rcnts of the Property shall terminate when all the sums seaured by thc Security Instntment are paid in full.
<br /> I. CROSS-DEFAUI.T PROVISION. Ba�rrower's default or breach under any note or agreement in which
<br /> L.ender has an interest shaU be a breach under the Security Instrument and Leader may Invoke any of the remedtes
<br /> permitted by che Security lnstrument.
<br /> AY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions containod in this 1-4
<br /> Family Rider.
<br /> ISeal) (Seal)
<br /> F ENGELFi)1UPT -Borrower YVETTE ENGELHAUPT -Borrower
<br /> �" —
<br /> (Seal) � �.v�: i!'L- (Sesl)
<br /> •Borrower •Borrower
<br /> � •6�193041.07 PN�z o�2 Fam 3170 3/93
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