Laserfiche WebLink
fees, premiums on receiver's bonds, repair and maintenance costs, insurance premiums, <br />taxes, assessments and other charges on the Property, and then to the sums secured by the <br />Security Instrument; (v) Lender, Lender's agents or any judicially appointed receiver shall <br />be liable to account for only those Rents actually received; and (vi) Lender shall be entitled <br />to have a receiver appointed to take possession of and manage the Property and collect the <br />Rents and profits derived from the Property without any showing as to the inadequacy of <br />the Property as security. <br />If the Rents of the Property are not sufficient to cover the costs of taking control of <br />and managing the Property and of collecting the Rents any funds expended by Lender for <br />such purposes shall become indebtedness of Borrower to Lender secured by the Security <br />Instrument pursuant to Section 9. <br />Borrower represents and warrants that Borrower has not executed any prior <br />assignment of the Rents and has not performed, and will not perform, any act that would <br />prevent Lender from exercising its rights under this paragraph. <br />Lender, or Lender's agents or a judicially appointed receiver, shall not be required <br />to enter upon, take control of or maintain the Property before or after giving notice of <br />default to Borrower. However, Lender, or Lender's agents or a judicially appointed <br />receiver, may do so at any time when a default occurs. Any application of Rents shall not <br />cure or waive any default or invalidate any other right or remedy of Lender. This <br />assignment of Rents of the Property shall terminate when all the sums secured by the <br />Security Instrument are paid in full. <br />I. CROSS - DEFAULT PROVISION. Borrower's default or breach under any note <br />or agreement in which Lender has an interest shall be a breach under the Security <br />Instrument and Lender may invoke any of the remedies permitted by the Security <br />Instrument. <br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this <br />1 -4 Family Rider. <br />0)e <br />- BORROWER - WARREN L. PENNELL <br />/rCa / ka‘UPdr <br />- BORROWER - RANDI R. PENNELL <br />201706072 <br />451704232 <br />MULTISTATE 1 -4 FAMILY RIDER -- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT <br />32.24 Form 3170 1/01 (page 3 of 3 pages) <br />