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2� 17� 1582 , � L�AN#: �so�877�� E. B�RR�VIIER'S �CCU PANCY. U n less Lender and Bor ower otherwis� agree in writing, Section 5 con�erning Borrower's occupancy � th� Prop�rty is d e I�t�d. � F. AS5IGNIVIENT�F LEASES,Upon Lender's request after d�fa�lt, B�rrower sha�l assign to Lender a�� leases�f the Praperty and all security deposits rn d� �n conn�ction with leases of the �roperty. Upvn th�assignment, Lender shall have� e right to modify, extend or t�rminat� the �xisting leas�s and to �xecute new leases� �n Lender's so�e dis�retion. As used in th�s �aragraph F, the w�rd "lease" sha�1 mear� "subl�ase" if the Secur�ty Instrum�nt is on a I�asehotd. ' G. ASSlGNMENT �F RENTS; APP��NTMENT �F RE�EIVi R; LENDER IN P��SESS��N. �arrower absolutely and unconditionally assigns; ,and transfers to Lender all the rents and revenues �"Rents"} of the Pr�perty, regardl� s of to whom the Rents of the Property are payabi�. B�rrower authorizes Lender or l� nder's agents to collect the R�nts, and agrees that each tenant of the Prop�rty shalM pay the Rents to Lender ar Lender's agents. How�ver, 8arrower shall r��eive the Re� �ts until �i} Lender has g��en Barrower notice of d�fault pursuant to S�ctian �� f the S urity lnstrument and �ii} Lender has giv�n notice t�the t�nant�s} that the Rents are to� ' e �aid to Lender or Lender's a�ent. This assignment of Rents constitutes an absolut assignment and not an assi�nment for addit�onal security only. � If Lender gi��s notice of default to Barrower: �i} all Rents rece�� ed by Borrow�r shall be held by Borrower as trustee far the benefit �f Lender anlX, to i�e app��d to th� sums s�cured by the Security lnstrument; �ii} Lender shall be ntitfed to collect and rec�iv� al� of the Rents of the Property; �iii} B�rrower agrees th�t each tenant of th� Property shal� pay al� Rents due and unpaid to Lender �r Lend r's agents upvn Lender's wr�tten demand to the tenant; �iv} unless app�icab�� law p ,vides otherwise, a�l R�nts collected Ivy L�nd�r or L�nder's agents shal! be appli�d fi t to th� �osts of taking �ontrol of and manag�ng the Pr�p�rty and c�ll�cting th� Re ts, �ncluding, but not limited ta, attorney's fees, receiver's f�es, prem�ums on receiv r's bonds, r�pair and maintenance �osts, insurance premiurns, taxes, assessments a � other charges on th� Property, and then to the sums s�cur�d by th� Security Instru�� ent; �v} Lend�r, Lender's ag�nts or any judic�ally appointed recei�er shall be liable t� account for only those Rents actually rec�ived; and �vi} Lender shall be entit��d to� ha�e a rec�iv�r appointed tv tak� possession of and manage the Pr�perty and �oll�l�t the R�nts and �rofits deri�ed from th� Property w�thout any sh�wrng as to the ir��adequacy �f the Property as security. � If the Rents �f the Property ar� not suffic�ent to cover the �osts a� taking �antral vf and managing the Property and of colle�ting the Rents any funds ex� nded by Lend�r f�r such purposes shall be��me indebtedness of B�rr�w�r t� Lend secur�d by the Security �nstrument pursuant to Section 9. ' ; Borrower represents and warrants that Borrower has nat ex, cuted any prior ass�gnment of the Rents and has not perform�d, and will not perf rm, any act that would pre�ent Lender from exercis�ng its rights under this �aragrapl�, Lender, or Lender's agents or a judicfally appointed r�cei�er, sh2�i n�t be required to enter upon, take contrvl of or maintain the Praperty b�fore �r aft� giving nvt�ce of d�fault to Borr�wer. H�wev�r, Lend�r, or Lender's agents or a ju icially appointed recei�er, may d� so at any time when a default occurs. Any app�icati�n af Rents shall nat cure or wai�e any default or in�alidat� any other right or remed�► vf Lender. Th�s assignment �f Rents of the Property shall terminate►►vhen all the sur�s secured by the Security Instrument are paid in full. ' H. CR�SS-DEFAULT PR�Vf51�N. B�rraw�r's d�fault or brea��h under any note or agre�ment in which Lender has an interest shall be a breach u der the Security I nstru ment a nd Lend�r may i n�ok� a ny of the remed ies p�rm itted� by the Secu rity �nstru ment. Ini�als: MLlLTISTATE'I-4 FAIVIILY RiDER--Fannie MaelFreddie Mac LJNIFDRM INSTRLINlENT Form 3'! �11��f � � � Ellie Mae, Inc. Page 2 of 3 � F3�702R❑ 1 D�4 F317��RL�CLS} �1211ZD 17 1�:�Q AM PST 1