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��14�1199 �� �a} As part af th� c�nsideration for the Indebtedness, Borrower absolutely an� uncondi�ionalEy assigns and transfers to Lender ail R�nts. �t is �he intention �f Borrow�r t� establish a pr�s�nt, absolut� and irre�ocab�e transfer and assignment to Lend�r of al! f�ents and t� auth�r�z� and emp�wer Lender ta colleGt and receive aif Ren�s withou� the necess�ty of further actian �n the part of Borrower. Prompt[y upon request by Lender, Borrower a�re�s t� �xeGute an� del�v�r such further assignm�nts as Lender may from time to time r�quire. Borrav�rer and Lender intend this a�signment af Rents to be immediately �ffect��e and to constitute an absolut� present assignm�nt and not an assignment for addit�onal security on�y, pro�ided that pr��r ta an Event of Default, Borrower is entit�ed to R�nts. F�r pur�os�s af giving effect t� this a�s�lute assignment of Rents, and far n� ath�r purp�s�, R�nts sha!! not be d��med ta be a part of the M�rtga�ed Property. However, if this present, absolute and unconditiona� assignment of R�nts Es not enfor�eabfe by its terms under the laws of th� Pr�perty Jurisdiction, then the R�nts shal� �� included as a part of th� Mortgaged Pr�perty and it �s the fntention af Borrower that in this circumstance this Security lnstrument create and perfect a li�n on R�n�s in favor of Lender, which iien shalf be �ff�ctive as of th� date af this Security I nstrument. �b} After the occurrence of an E�ent of Default, B�rrower authorizes Lender to �o�le�t, su� for and �ompromise Rents and directs each t�nant �whether resident�al ar n�n--r�sident�al} of the Martgag�d Property t� pay af� Rents to, or as d�r�cted by, L�nder. Howe�er, unti� the occurrenc� of an Event af Default, Lender hereby grants to Borrower a revocable li�ense to c�ll�ct and re�eive all �2ents for use �n accordance with the �ro�isions of this Se�urity Instrum�nt �and the R�gulatory Agreement during th� p�riod �f its applicability}, tv hold all Rents in trustf�rthe b�nefit of Lender and to apply all Rents �o pay the installments �f �nterest and principal then due and payable under the Not� and the �ther amounts then due and payable under this Security Instrument, including lmposit�an De�osits, and to pay the current costs and �xpenses �f managing, op�rating and maintaining the Mortgag�d Pr�perty, including ut'rlities, Taxes and insurance pr�m�ums �to the extent n�t included in Imp�sitian Dep�s�ts}, tenant impro��ments and ather �apital expenditures. So �ang as no Event of Default has occurr�d and is continuing, the R�nts remaining after ap�licati�n pursuant to the preceding senten�e may be r�tain�d by ��rrower free and �lear of, and release� from, Lender's rfg hts vUith resp�ct to Rents under th is S�cu rity I nstrum�nt, u n�ess atherw�se restricted by the terms vf the Regulatary Agreement during th� period of �ts a�plica�ility. Fr�m an� after the �Gcurr�nc� of an Event of Default, and without the n�cess�ty of Lender entering upon and taking and mainta�ning c�ntrof �f th� Mortgaged Praperty dir�ctly, or by a receiv�r, Borrow�r's licens� to collect Rents shall automaticafly terminat� and L�nder shall withou� Notice b� entitfed to all R�nts as th�y b�com� du� and payable, including R�n�s th�n due and unpaid. Borrower sha�l �ay to Lender upon demand all Ren�s to wh�ch Lender �s entitled. At any time on ar aft�r the date of Lend�r's demand f�r Rents, Lender may gi�e, and B�rratirver h�reby irre�ocably authorizes L�nder to gi�e, Notice to all �enants of tne M�rtgaged Pr�perty instructing Previvus editions are obsol�te HUD MF Security�nstrum�nt HUD-94��IUI�Re�. �41'�1}