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W <br />j <br />$9_104238 <br />9. Assigmyont of Rents_ Management of Property. As <br />additional security hereunder, Borrower hereby assigns to Lender <br />the rents, issues and profits of the Property, provided that <br />Borrower shall, prior to acceleration under paragraph 11 hereof <br />or abandonment- of the . Property, have the right: to collect and <br />retain such rents, issues and profits as they become due and <br />payable. Upon acceleration or abandonsent of the property, <br />Lender may, either in person or by agent, with or without bringing <br />any action or proceeding, or by a receiver appointed by a court <br />and without regard to the adequacy of its security, enter upon <br />and take possession of the Property, or any? part thereof, pax. -it:s <br />own name or in the name of the Trustee-, and do any acts which it <br />deans necessary or desirable to premw.ve the value, marketability <br />or rentability of the Property, *17:,,, "a "' <br />part "thereof or intearest <br />therein, increase the income t hi4retkio'm or protect the security <br />h6reof and, with or without takihg "Obssess%on of the Property, <br />sue for or otherwise collect -tlie amts, issues and profits <br />thereof, including thos6 past due acrd ',unpaid, and apply the same, <br />Jess costs and expenses of operation and collection,,imcluding <br />attorneys$ fees, upon ''.'any indebtedness secured hereby, al:. ;,in <br />such order as Lender away determine. The entering upon and tAing <br />possession of the Pro rty, the collection of such rents, issues <br />and profits and the application thereof as aforesaid, shall:.not <br />cure or waive any default or notice of default hereunder..vri <br />invalidate any act done in response to such default or pu>ra�aatt <br />to such notice of default and,. notwithstanding the continugknc:o in <br />possession of the Property or .the cd1lection, receipt and appiica '` <br />tion of rents, issues or profits, and"Trustee and Lender 9"ll be <br />entitled to exercise every right provided for. in any of t1W. 4oan <br />Instruments or by law upon occurrence of 'iirty Event' of Default, <br />including, without limitation, the right to,vxerciss the power of <br />sale. Further, Lender's rights and remedies under this paragraph <br />9 shall be cumulative with, and in no way•a limitation on. <br />Lenders rights and remedies under any Ass4gnment of Leases and <br />Rents recorded against the Property. Lender, Trustee and the <br />receiver shall be liable to account only for those rents actually <br />received. <br />10. Events of Default. Tito following shall constitute <br />an Event of Default under th s Deed of Trust: <br />(a) Failure to pay any installment of <br />principal or interest or any other su* secured hereby <br />when due, or failure to pay when due any other indebted- <br />ness of Borrower to Lender; <br />(b) A breach of or default under any provi- <br />sion contained in the Note, this Deed of Trust, any of <br />the Loin x.aastruments, or any other encumbrance upon the <br />Property; after giving effect to any Applicable cure <br />period contained therein; <br />80 A writ of execution or attachment or any <br />atiimilar process shall be entered against Borrower which <br />shall become a lien on the Property or any portion <br />thereof or interest therein; <br />(d) There shall be filed by or against <br />Borrower an action under any present or future federal:, <br />state or other statute, law or regulation relating to <br />bankruptcy, insolvency or other relief for debtors; or <br />them shall be appointed any trustee, receiver or <br />liquidator of Daarrowea ur of all or any part or Erie <br />Property, or the rents, issues or profits thereof, or <br />Borrower shall sake any general assignment for the <br />benefit of creditorst <br />(e) The sale, transfer, assignment, convey- <br />ance or further encumbrance of all or any part of or <br />any interest in the Property, either voluntarily or <br />involuntarily, without the express written consent of <br />Lender; <br />-4- <br />-.1 <br />t <br />-.1 <br />