|
.. ... . � .. . -= ,.{;i';�:..'----
<br /> L_ �_�i -- -_
<br /> -__._ _ �.. . _ _ . . , '_ _ _' " _-.
<br /> ' ' _;_-' ' ' '_ __ _ ' . �. . �--_ . .' .:'"_ '_ ' , __ . . ' '_--•--._-_ `__ _" '._, ' TI" • .. , •- .
<br /> ( . - . . . . `t ' . � ' ' ' . .- . . .. . _.' _ .` . . . ; , .. . _.
<br /> � ��. � ��� �` '� . � ` . . �. �, � �. � . �3�= ��� . ` . `:
<br /> � . c.�cx�rr�og r.�s:v��s�.���e.u.��r��.0��m�°. � ' ;
<br /> _. . 3'[oQerty and atl sQ�titY de�its n�de in oannoction�-itb lea`sts of the Propeny.Upoe.tht�ssipmed.I�enda-� ` ' , .
<br />, s1W1 bava t6e d�i►t w modify,�xuod or termitr�te the existing`leases and w e�c6n�tt new iaises,in Le�nder's wk �. . .
<br /> ' d'iscr�dian.lls uscd in this�a,grapli i3.thr wor�!'"lease"slull mran";ubtetse"if tfie Secatrity Imtrumax u�nn .
<br /> ' ateaseh,oid. _; - ' . : -- _. _ . _ -_ .
<br /> ' • H. ASSIGlVMENT OF RENTS: AP!'OII�i1'ME1�Pt' OP RFC�IVER; I�EIriD�it IN POSSF�40N- • '
<br /> � Bvrm�ver�bsolatdy aM unconditiooally assigas and t�aacf�s to I�ender all the rents aad reva�res(`•Reats„)of = .
<br /> tbe Yr�apetty, ng�tmess of.w wlam iLe Raus of tLe Property ue payabie. Bortvwer�thor�es I.e�lda ot
<br /> I�xkc's�ats to oolloct she Rents,and�gcas thst each tenu�t of tbe Prapetty sh�l pry the Reats w I.endet oc .
<br /> . = ilader's a�ats.Howeva,Borrawar shall raxive the Rents until fi)Lender has given Borrower naic�e of defiult
<br /> � P��P�S�Ph�1 of the Sen�rity Inst�wnent a�(ii)Lender has g'rven notioe to t�e ten�(s)tbat tbe Rmts
<br /> ' arc W 6e�id w Itu�let ar Lender's ageat.This assigrm�ent of Reats noastidites an a6solute as4ignment aad not
<br /> ' an assignmeat for addrtia�l sowriry oniy. .
<br /> .t,:: If i.ender gives mtice of brpch tn Borrowea:(7 aIl lta�ts roceived by�orrower shall be held by Bor�uwer
<br /> :��;-:-,:°� as trastec for the benefit of Leoder onlyE,to bc appliod to tht sums secuc�Qd by thc Sacurity Insttument;(ti)I.ender _.
<br /> .`.`,:�,:'.:• sball be auided ta c�nIIxt and rooeivc a�l of the Rents of the Property;(iri)Bortower agnees tbat each tenant of the
<br /> f �' P�operty.sh�li pay all Rents due and wipaid w Lsnder or•l.ender's agents upan La,ider's written demand W tbc
<br /> ' tenan� (iv)�ntess applicabte law provides otherwise.�t Rcnts collocted by Ixnder or Leader's agents sha116,o .
<br /> , :_ ...
<br /> � apptied first�the ca�s of talcing,comrol af amd�tae:P�i7�!�'ty aad colTecting the Rents.Includiag,6ut ,�::::=;..
<br /> not lunitea to, attomeys' fces, re�eiver's fees, p�oit r��er's bonds. repair and araintenance costs, . ; ' �:.,r.;;,�;--
<br /> iasnru�ce p[�emivms.taues.assessme�rts and other c�on tl�e Property.,and then w tl�e sums secunad by�i;, • ,
<br /> Security Insuument;(v)LeMer,LerWer's agents or a���judicially appointed rereiver shall be liable to acoourt��k
<br /> onty those Renu actually receivai: and fvil Lender shalt be errtittgd to ha�e a reeeiver appoi�rted to.�a:•
<br /> � ' � possession of arrd manage the Property�collect the Rents.and profitw derived from the Yropeaty:witfwut mdy •
<br /> . . showing as to the inadequacy of the Propei�ty as security. . �•
<br /> � If ihe Rents of the Property are not sufficient to cover the oosts of taicing control of and managing.the
<br /> .Propecty and of coltecting the Rents any funds expendeA by Lender for such purposes shal}become indebtedness
<br /> ��;��, ; � of Borrocr�er to Lender secumd by the Seairity Instrome�t pursuant to Unifarm Co4eaant 1. � . � � •
<br /> f Bomower ieprese�its and warrants that Borrower L•�s not eaecuted any prior as�gnmeM og��Rents and has
<br /> not and wiE6��perform any act that would prevent Lea�►er frdn e!c�r�a;�g its rights under t1'+:s��:zgraph. ,
<br /> ' �.,':, • � Lend�;,�oi Lender's agents or a judicially appoi�ed recei�er, Shalt not be requirod�ta�:rr upon,take •
<br /> ,:,°' � ,control of or maintain the Property 6efare or af[er giv�Lng notice of defauit ro Borrower.HoWe��er; I.�e��oT
<br /> 'D;ender's agents or a judicial{y appointed receiver,ma���to so at any time when a det'ault accurs.A�app��
<br /> �of Rents shall not cure or waive any default or invalidate any other right or remedy o1'Lender.T�s.assignrn�a��''
<br /> ' � Rents of ttie Property shall termipate when all the sums secured by the Security Instrument are��,�-.'.ih full. .
<br /> � I.CROSS-DEFAIJLT PROVISION. Borrower's defaWt or breach under any note or�-.�xzrent in wluch
<br /> I.eader has an iirterest shall be a breach under the Seccce�Ty Instrument and Lender ma.�invake a:y of the re:r.ed:�,�s
<br /> perntitted by the Secutity Instrumem. '
<br /> BY SIGIVING BELOW. Botrower,ac¢epts and��:ees to the cerms and provisions cor.:z:7ed in this l� '
<br /> Famity Ri'war: .
<br /> (Sea.tp � t�)
<br /> DONALD PREI � DOR , •&moacr.. . _ -Borrawer
<br /> (Seal j /Seal)
<br /> OONNA PREISENDORF -soR�,s•_7", • -�-�-�cr �
<br /> . ..
<br /> � � . . sam a��o arsa
<br /> . . .
<br />
|