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<br /> G.A5�IG1JA7��JT OF L�A�ES.Upon Lender's res�uest. Bonower shall assign to Lender ell leases of the ���
<br /> ', �' �"' �} Property and all security deposits made in conrtection with leases of the Property. Upon the assignment. I.ender
<br /> �, _ shall have the rfght to modify,cxtend ar terminate the existing leases s�nd to execute new leases.in Lender's sole 4
<br /> , ' . ,+� discretion. As used in this parugraph(3,the wurd"lease"shall mean "sublease" if the Security(t�scrnment is on .
<br /> . a leasehold.
<br />_.,,��.. ,,�. � H. ASSIGNMEI+IT OF R�NTS; APPOAVTMENT OF RE�EIVEPt; LENDER IN P�S3F.gSION. __
<br />' .'�'�����' B�rrower absolutely and unconditianally assigns and transfers to Lender all the rcnts and revenues("Rents")of
<br /> the Property. regardless of to whom the Rents of the Property are pay a ble. Borrower suthorlxes I.ender or
<br /> .'�� I.ender's agents to coilect the Rents.and agreas that each tenant of the Praperty shall pny the Rents to Lender or
<br />^:��: : ;�.�"�'`�' � Londer's agencs.However,Borrower shall receivc the Rents unttl(i)Lender has given Borro�ver notice of default -
<br />,.;�+., pursuant to paragraph 21 of the Securiry Instrument and(ii)Lender has given notice to the tenant(s)that che Rents
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<br /> _ ,,., are to be paid to Lender or Lender's agent. This agsignment of Ren�4 constitutes an absolute assignment and not
<br />'''''���';,`S;;"'�`''� an assignment for addition�l security only.
<br />- _ � `' � If Lender gtves natice of breach to Borrower: (i)all Rents received by Borrower shall be held by Borrower
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<br /> - �fa�� -:;, as uustea far the benefit of Lender only, to be applied to the sums secured by the 5ecuriry Instcument:(ii)Lender
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<br />'y�,.+�t���,f`�-�� shall bc enttded to coilect and receive all of the ftents of the Properry: (iii)Borrawer agrees that each t�nant of the
<br /> ��•�•�:�:' � Property shall pay all Rents due and unpaid to I.ender or Lender's agents upon I.ender's written demand W the
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<br />, � ,,;,�,i;,.,. � tenant: (iv)unless applieubfe iaw provides otherwise, all Rent� col�xted by Londer or Lender's agencs shall e
<br />_ _.,�:�__��� < applied first to the costs of taking control of and managing the Prop�rty and��Ilectinb th� Rents, �clading.but
<br /> ;-.-:'"'__ ,,, not limited to, attomeys' fees, receiver's fees. Premiums on receiver's boads. repair and meiatenance costs.
<br /> _`J'' "`�°!F'.� insurance premiums, taxos,assessments and other charges on the Property.and then to the swas secure�by the
<br /> "�•�� Security Insmiment;(v)f..ender,Lender's agents or eny Judicially appointed receiver shall be liable to account for
<br /> �`�'�� ' only those Rents actuafly raceived: end (vi) i.eader shall be entitled w have a receiver appointed to take
<br /> �•;:��;:.;�.�-.- •
<br />--- __ possession of and manage the Properry and collect the Rents and profits derived from the Property without any
<br />-_ =-=_ showtng as to the inadequacy of the Property as securlty.
<br /> _�__� If the Rents of the Property are rtot suff'icient to cover the costs of taking control of and managing the
<br /> _ ps�grr#y and�S«�ilectine the Rents any funds eaQended by Lender for such purposes shall becaate indebtednesa
<br /> _--�-�� of Borrower to Lender secared by the Security Inauument pursuant to Untform Covenant 7. •
<br /> _���"„',�:� Borrower c�epresents and warrants that Borrower has not executed any prior essignment of the Rents and has
<br /> __ rtot and wi[l not perform any act that would prevent Leader from exercising its rights undec"this paragcaph.
<br /> Lender, or Lender's agenu or a judicially appointed rer.eiver, shall not be required to enter upon, take
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