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<br />(B) property inspection and valuation fees; and (C) other fees incurred for the purpose of protecting
<br />Lender's interest in the Property and/or rights under this Security Instrument, including its secured
<br />position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, exterior and
<br />interior inspections of the Property, entering the Property to make repairs, changing locks, replacing or
<br />boarding up doors and windows, draining water from pipes, eliminating building or other code
<br />violations or dangerous conditions, and having utilities turned on or off. Although Lender may take
<br />action under this Section 9, Lender is not required to do so and is not under any duty or obligation to do
<br />so. Lender will not be liable for not taking any or all actions authorized under this Section 9.
<br />(b) Avoiding Foreclosure; Mitigating Losses. If Borrower is in Default, Lender may work
<br />with Borrower to avoid foreclosure and/or mitigate Lender's potential losses, but is not obligated to do
<br />so unless required by Applicable Law. Lender may take reasonable actions to evaluate Borrower for
<br />available alternatives to foreclosure, including, but not limited to, obtaining credit reports, title reports,
<br />title insurance, property valuations, subordination agreements, and third -party approvals. Borrower
<br />authorizes and consents to these actions. Any costs associated with such loss mitigation activities may
<br />be paid by Lender and recovered from Borrower as described below in Section 9(c), unless prohibited
<br />by Applicable Law.
<br />(c) Additional Amounts Secured. Any amounts disbursed by Lender under this Section 9 will
<br />become additional debt of Borrower secured by this Security Instrument. These amounts may bear
<br />interest at the Note rate from the date of disbursement and will be payable, with such interest, upon
<br />notice from Lender to Borrower requesting payment.
<br />(d) Leasehold Terms. If this Security Instrument is on a leasehold, Borrower will comply with
<br />all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee
<br />title will not merge unless Lender agrees to the merger in writing.
<br />10. Assignment of Rents.
<br />(a) Assignment of Rents. If the Property is leased to, used by, or occupied by a third party
<br />("Tenant"), Borrower is unconditionally assigning and transferring to Lender any Rents, regardless of to
<br />whom the Rents are payable. Borrower authorizes Lender to collect the Rents, and agrees that each
<br />Tenant will pay the Rents to Lender. However, Borrower will receive the Rents until (i) Lender has
<br />given Borrower notice of Default pursuant to Section 26, and (ii) Lender has given notice to the Tenant
<br />that the Rents are to be paid to Lender. This Section 10 constitutes an absolute assignment and not an
<br />assignment for additional security only.
<br />(b) Notice of Default. If Lender gives notice of Default to Borrower: (i) all Rents received by
<br />Borrower must be held by Borrower as trustee for the benefit of Lender only, to be applied to the sums
<br />secured by the Security Instrument; (ii) Lender will be entitled to collect and receive all of the Rents;
<br />(iii) Borrower agrees to instruct each Tenant that Tenant is to pay all Rents due and unpaid to Lender
<br />upon Lender's written demand to the Tenant; (iv) Borrower will ensure that each Tenant pays all Rents
<br />due to Lender and will take whatever action is necessary to collect such Rents if not paid to Lender; (v)
<br />unless Applicable Law provides otherwise, all Rents collected by Lender will be applied first to the
<br />costs of taking control of and managing the Property and collecting the Rents, including, but not limited
<br />to, reasonable attorneys' fees and costs, receiver's fees, premiums on receiver's bonds, repair and
<br />maintenance costs, insurance premiums, taxes, assessments, and other charges on the Property, and then
<br />to any other sums secured by this Security Instrument; (vi) Lender, or any judicially appointed receiver,
<br />will be liable to account for only those Rents actually received; and (vii) Lender will be entitled to have
<br />a receiver appointed to take possession of and manage the Property and collect the Rents and profits
<br />derived from the Property without any showing as to the inadequacy of the Property as security.
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