|
,I,� --
<br /> .►,�M.iM
<br /> ' �iL,� �' 1.. ."��.. —_ _ "�nN=1�!-�'i .. --__— —
<br /> � J
<br /> _.____.._—���� _ - ' --_—
<br /> —_ Ki' r _—_—_.�__m,_�_�,�� — __-__--_----_--.
<br /> g8— ���ix�3s
<br /> G.ASSIGNMENT OF I,EA9E51. Upon l.ender's:equest, Borrower sholl as�lgn to Lender all Icasos of the
<br /> propeny and�11 security depo�its m�de in cont�ection with leases of the Property. Upon the assignment, l,endcr
<br /> shnll havc the right to modify,extend or ttrminete the existing le�s and to execute new leasea,In Lender's sole
<br /> discretion. As usrcl in tl�i9 puagraph G, the word"lcasC"shall cr►enn •'sublease" if�lie Security lnstrutnent is on �
<br /> �le�ehold,
<br /> H. ASSIGNMENT OF RENTS; APPOIN7'MENT OF RECEIVERt LE�JDER iN POSS�SSION.
<br /> Borrower absolutely and unconditionally assigru and tr�nafera to Lender all the rents and revenues(•'Rents")of
<br /> Ihe Pmpeny, regardless of to whom the Rents of the Property are payable. Bonower authorizes Lender or
<br /> Lender's agents t�collect the Renta,and agrec�that t,�h tenant of tha Property shall pay the Rcnts to L,ender or
<br /> Lender'a�gents. However, Bocrower sh�ll recelve thc Renta until(I)Lender has g[vcn 8orrowtr noticc of default
<br /> pursu�nt to pu�graph 21 of the Sexudty Instrument and(ii)Lender has given notice to the tenant(s)that the Rents
<br /> are to be p�ld to L.ender or I.ender'a agent, This�ignment of Rents constitutes an absolute azsignment and not
<br /> an asalgnment fer additional ucurity only.
<br /> If l.cnder$ives notice of brexh to Bc�nower: (q all Rents received by Bonower shall bc held by�Borrower
<br /> as tnutee for the beneCt of l.ender only.to be appli�d tu the sums secured by the Security Instrument;(ii)I.ender
<br /> shall be entitled to collect and recelve all of the Rente of the Property; (ili) Borrower agras that each tenant of the
<br /> propecty shall p�y all Rents due and�inpud to i.ender or l.en�er's agcnts upon Lcnder's writtcn demnnd to the
<br /> ten�nt; (iv)unless applics►ble 1aw provida othenvise,a11 Rents collxted by I.onder or Lendor's agents shalt be
<br /> applted first to the costs of taking wntrol of and managing the Property and collxting the Renta, including, but
<br /> not limitod to, attorneys' fas, raeiver's fas, premiums on receiver's bonds, repair and maintenance costs,
<br /> insurance pramiums, taxes. asses�ments+uid other chuga on the Propeny, and then to the sums securod by the
<br /> Security Instrument; (v)l.ender. Lender's agents or any judicially appointed receiver shall be llable to account for
<br /> only those Rents actually received; and (vi) Lender shal be en►itlod to have a roceiver appointed to take
<br /> possession ot and manage the Property and collect 1he Rents and profits derived trom the Property without any
<br /> showing a�to the inadequacy of the Property as secudty.
<br /> If the Rents of the Property are not aufficient to cover the costs of taking control of and menaginq the
<br /> Property and of wllocting the Rents any funds expended by L.ender for such purposes shall become indebtodness
<br /> of Borrower to Lender xcurcu uy i,ic�.ariiy Irat:i:�wts:pu:��°.nt t^ Tin�fi,r�[`nvenant 7.
<br /> Borrower represents and warru►ts that Borrower has not executed uiy pdor assignment of thc Rents u�d has
<br /> not and will not perform any act thu would prevent Lendor from ezercising ite rights under this paragraph.
<br /> Lender, or Lender's Agenta or a Judicially appointcd receiver, ehall not be required to enter upon, take
<br /> contml of or maintain the Property before or after giving n�tice of default to Borrower. Nowever, l.ender,or
<br /> Lender's agents or a judicially appointai receiver, may do so at any time when a default occurs. Any application
<br /> of P.ents sh�ll not cure or walve any default or invalidate any other�ight or nmedy of Lender.'I'his asslgnment of
<br /> Rents of the Propeny shall terminue when all the sums.secur�d by the Security Instrument are paid in(ull,
<br /> I. CRUSS-DEFAULT PRQVISION. Borrower's default or breach under any note or agreement in which
<br /> L.ender has an intenst shall be a breach under the Security Instrument and I.ender may invoke any of[he remedies
<br /> permitted by th�Security Instnirnent.
<br /> BY SIGNINa BBLOW, Borrower accepts and agrees to the terms and provisions contained in this 1-4
<br /> Family Rlder.
<br /> � � O� \JLC7LLCi
<br /> (Seal) �SL.-'i�° —(Seal)
<br /> R]12iDY CFtl►TG -Borcower HETTIE L CRAIG �� -Bonuwer
<br /> ��� (Seal)
<br /> -Norrower •Borrower
<br /> �•67�saoai.o�
<br /> Pp�z ai 2 Form 3170 3l93
<br /> . « �,
<br /> ; , , '.1
<br /> _ �_ � _ _ .., - -�n i .�sJ� �u.EZ-�:it.�..�:�- �.��rrn. - _
<br /> -:rr.:w�-^.r._ --_-�..t.l�..�.�...... .. .. �y y __ — —- .— �
<br /> r , •
<br /> i a
<br /> 4 � , '
<br /> _,._ ' ...__�_._ __'_._ ._._ ___ —_.._._.__. .'_f�� 1 •f.'`£C�'1• w• �' !�d^P ��.-_--
<br /> _ ...__.. .i-._"- . ' ..____.' .__."_.'`._ _'_. .'.""' ._". ". � v .
<br /> . • (r 'tr _ � n3s� �"
<br /> • i ��itF� t.��Aa��
<br /> :, K .—
<br /> f . .... . . . , -.t r-,+r' .�� + , !R���a�. f��".Y7 x�, ,r�� � -
<br />,i� .• . .. �,3.�,. �i= ���y ' l.tn r ti.o � -.MrA'�„ _ _'.
<br /> i � �i�`.�"'�ii���S��F.��f' 3 u���—
<br />'!' ' • r ;`r ��di'�t�ti�t�". . J t�.�' .�? r.�!- - - , =.r__
<br />..� � .. .; . . , . . . � �£_'. y,`�::�� .�.f •�. .�_ } -�-.�� ..v-_,_.
<br /> "l.tr r!!S � t . '1 �i16f-
<br /> � �v � R
<br /> it • 4ti�'��f�� �` ut 3h'+ ! ,4�� _._
<br /> � ���,�i : ��
<br /> . . 11'�' a�.'"`.= -
<br />� " •� �, '�4~ .�'•�`MO!`�^��kT.R�-q.
<br /> ,i:�'�'�' l _''
<br /> ,} �.ert�'
<br />. .� ., � . , .. : , �- •c�.�M4 ��e';�_-.
<br /> .� . .. • ` ' .. _'� - _ � ..�?,°d;l.rt�,,.�-_
<br /> .`�. �__ �,�1��7:�r..
<br /> ���rt.r t�
<br /> � . , ' � . � ,�•��5.� . �'�f�Y_ti����l�tir'•`--±�..
<br /> . ' :/ -���v -Y�YM�i___
<br /> ., . . '- ' w.�`''.:a�Y.'y�s��-i�6=_'�wA___���--.
<br /> . a.
<br /> ... . .. .���._
<br /> :J � . '� . .. •_. � .- . .
<br />
|