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<br /> , : n Lender's request,Borrower si�a11 assign to Lender all leases of the � ��
<br /> v:> .;_ ,. _ _`- �; G.ASSIG1�iMENT 0�LEASES• UPo U on tt�assignmeat,lxader '' ,,` °� :,
<br /> � 4;a.,.. . � � <i.; pmperty and atl se.curity d�osits made in oonnedion arith Feases a`the P�+operty. p :
<br /> ° � -; sl�all have the right to modify.extend or terminate the existing teases and to esec�te neH+leases.in E.ender's sole � � ..
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<br /> � �` discretion. A.s ase�i io this paTagraph G,the word"tea;e"shall mean'°subtease"if the Security IAStniment is on � �h -
<br /> .•.. � ` ; ;.' a leasehold. i,ErIDER IIV P�ION. ' �d { . ,
<br /> .�-y-"�" !i. ASSiG11SNIEI�T OF RENTS; APPONITMEI�T OF RECEIVER: � .
<br /> �, ���r� Borrower absolutely and uncondiaonally assigns and trassfers to Leader all the rents and revenees(•.Rents..)af ¢g � ;
<br /> � f�`.`'_ � r'': ess of to whom the Rents of the Property ate paYable. Borrower authorixes Lemder or °'�- -� �
<br /> ;"_:� � . :• <. ;:. •.- the Proi�ectY• reSardl the Rents to L.sader or d'` ���:
<br /> �� =. - - :':s:::,: Lender s ageuts w coliect the Renis.und agrees that each teaant of the Praperty shaU pay +Q . �,._ ,;y. .,
<br /> ' " � 1„ender s a g e nts.Hawever,Borrower sha}l receive the Rents until(i)Lender has g�ven Borrower notice of defa�ilt � � y s, : _
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<br /> .�� . �` • pursuant to paragraph 21 of the Security Insunment and(ii)Lender has given notice w t h e tenan t(s)t h a t t h e Re�ts � "�K y . ,
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<br /> ` ` -�� aze to be gaid to Lender or Leader s agen4 This assignment of Rents constiruies an absolute assigameni and not �
<br /> �� .` t��• att assignment for additional security only. ,
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<br /> ` ` � .[f Lender gives nodce of breach to Borrower:(i?all Rents rerxived by Borrawer sttail be Ueld by Borrower � ` �
<br /> o �.t " � as trustee for the benefit of Leatter only.to be appiied to the sums secured bY the S�un�'�°t'�»��� � i r .r�
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<br />:�• shall be enti t t e d to co l l e c t an d r a c e i v e a l i o f t k e R s n t s of the Pro p e r c y:f iii)tiorrower agrees that e�h te�t of the �
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<br /> _ •; , :. �' ,._' p�Pe�,Y s�l PaY ati Rents due and unpaid to Lencler or l.ender's agents upor►Lender's wtitten demand to the ,
<br /> '`:� � tenant; (iv}untess applicable law provides othcrwise,all Rents collected by Lender or i.ender's agents shal!be r.,,� .
<br /> ;:_ �. �;, ehe Pro and co{lecting the Renis.ineluding,but '
<br />-.- - • ; ., -` •-< aPPlied first to the costs of taking control of and managin$ P�Y r,. ..�'::`.
<br /> ' �L',, "� " not {iauted to. atto�eys' fees. receiver s fees, premiums on receiver's bonds. repair arrd maintenance oosts. �-;..�;�t �; .
<br /> .f L ��..��• �. insu:ance gremiums.taxes. assessments and other sharges on the Property.and then to the sums secured bY N�% � : �;`
<br /> z �, . Security inst�ument;(v)l.ender.Lender's agenu or any}udicially apFointed receiver shall be liabie to accouni for °,��,=,
<br /> ..._..''�-�.:'_'%,'�'� on;y �� Rents acwa!!y received; and (vi) Lender shall be entitled w l�ave a receiver appoiitted to ta(ce - �-
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<br /> ' •� " •`'� possession of and manage the Propert�l and coltect the Rents and profits derived from the Property withoat any "' ,.
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<br /> ' _ ; ; showis�as to the inadequacy of the Property as security. �np,�l of and managing the ; �' ;
<br /> ? a ;��� If the Rents of the Propeny are�not sufficient to cover the eosts of taking ,� ,:
<br /> �„� �Y ' property and of coltesting the Rents ar►y funds expended by Lender fos such purposes shall become indebt�n�s r :�__
<br /> � ��I�`' of Borrower to I.ender secured by the Secarity tnstrume�rt parsuan�!a Zlnifo�Covenant 7. _
<br /> � "�•' Borrawes repFesents and wa���BOnower has not executed any prior assignment of the Rents and has ,�' _
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<br /> not and wili rto.t perform any act that would prevent Lender from exercising its rights undes d►ic ParaB►aPb. r
<br /> •,"��'` " !,'' l,en�r. or (.ender's agenu or a}udiciaUy appointed receiver. shsU not be required to entet upon,take
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<br /> '� <<. _``. ,_''< control of or maintain the Propeny befoce or after giving notice of default to Borrower. H�wever. Ixnder. or .
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<br /> ,.p•:.�•.� . " ►.ender's agents or a ju�icialiy appointed receiver,may do so•at anY time When a default occurs•/1nY aPPlicatton ,:,;��
<br /> ; �`` . � �• ���. of Renss s{u�ll noe cure or waive any default or invalidate any other right or remedy of Lender.This assignment of , i _."
<br /> ,��ag;':: '�.:��.�`.:•� � � . Rents of the Properly shalt terminate when all the sums secured by ihe Security Instrument are paid in full. ,f t '
<br /> �.:';:�. ' :` ' l, CROSS�DEFAULT I'ROVLSION. Borcower's defaalt or breach u�sder any note or asreement itt which
<br /> _-��`'_` ' � Lender has an interest shatl be a breacb under the Security Instrument and Lender may invoke any of the remedies �.'.;.�
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<br /> �- 'R:'� . . �,:.... Permitted by th�Security Instrument. ,:
<br /> °'+' � '�' BY SIGNING BELOW. Botrower accepts and agrees tu the terms and provisions conlained in this 1-4
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