201406516 - Laserfiche WebLink

Browse

20140651E profits derived from the Property without any showing as to the inadequacy of the Property as security. If the Rents of the Property are not sufficient to cover the costs of taking control of and managing the Property and of collecting the Rents any funds expended by Lender for such purposes shall become indebtedness of Borrower to Lender secured by the Security Instrument pursuant to Section 9. Borrower represents and warrants that Borrower has not executed any prior assignment of the Rents and has not performed and will not perform, any act that would prevent Lender from exercising its rights under this paragraph. Lender, or Lender's agents or a judicially appointed receiver, shall not be required to enter upon, take control of or maintain the Property before or after giving notice of default to Borrower. However, Lender, or Lender's agents or a judicially appointed receiver, may do so at any time when a default occurs. Any application of Rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of Rents of the Property shall terminate when all the sums secured by the Security Instrument are paid in full. L CROSS - DEFAULT PROVISION. Borrower's default or breach under any note or agreement in which Lender has an interest shall be a breach under the Security Instrument and Lender may invoke any of the remedies permitted by the Security Instrument. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this 1 -4 Family Rider. (Seal) (Seal) Timothy W Bo n - Borrower - Borrower (Seal) (Seal) Marys n Bolton - Borrower - Borrower Loan Origination Company & NMLS Id: Five Points Bank - 407704 Loan Originator & NMLS Id.: Edward J. Jarosik - 470809 MULTISTATE 1-4 FAMILY RIDER - Fannie Mae /Freddie Mac Uniform Instrument Form 31701/01 Laser Forms Inc. (800) 446 -3555 LFI #FNMA3170 1/01 Page 3 of 3