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<br /> � ��'G.A�SIGNM�I�1T OF LE�ES.Upon Lsnder's�eqnest,Borrower shall assiga to Latder alb leases of t�ae __--__—
<br /> , .Pmperty and all securilY deposits made in coanec�on with leases of the Pcvgert�.BJpon the assig�ent. Lender v_— __
<br /> • �x.-:---
<br /> sball Irave tbe right to mvdify„e�end or tetminate tde existing leases and to ex�nevi teases; in I.�der s so1E -__-
<br /> `siiscnetion.As nsed m ghis paragrapfi G.tl�e word"tease"shait�"suUf�se"is`the Sewritg Insbmm�eut Is�n _ - .
<br /> a lea�eflotd.. ' _____-
<br /> ti. ASSIGNME:67' OF RENCS; APPOi1�IT��NT OF RECEIVEB; LIIVIIER IN POSSE�SI040T. --_
<br /> 8orrowea a�olutety and unoondirionalty assigns arcd ua�sfets to Lznder all the rents and revenues("Rems,•}of `
<br /> , the property, regazdle�s of t6�whom [tte Reats of the Propercy arE payable. Borrawer authorires Lendei or •
<br /> Lender's agents to coilect the'Reats.and agnecs t�eat each tenaiu of the Property shall pay the Renu to J.ender or
<br /> I.ender's agents.Howev�r.8orrower sha1F receive th�Rents unti!(i)Lender has given Borm�es notice of default
<br /> . .parsuam to paragrapi�21 of the Seoafity InstrurneIIt and(fii)Lender has given nottce to the tenant{s)t�at tlt:Retats _
<br /> , are to be paid to Lender or L�►der s agent.This assignment oF Rents constitutes an absolute s�ssignment and not
<br /> . an assignm�nt for additional security only. •
<br /> � . If Lender gives not�ce of breach to Borrowes:(i)aq Renu received by Borrower shaii be held by Borrower
<br /> � as trustee for the benefit of I.ender anly.ta bV applied to the sums secured by the Security Instrument=(ii)Lender . , ,
<br /> shall be entitled ta collect and receive sll of the Rents of the Property:(iii>Borrower agre�+that each tenant of ute —
<br /> Property shall pay all Rents due arsd unpaid to Lender p`r Ixnder's agenu upon L�ender's written demand to the i;;
<br /> temant; (iv)emless a�spiicabie!aw pmvides othe�wise,ail Renu cofle�xed by l.ender or L.eaQer s agents st�all be =
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<br />_ aPPlied i'irst ta the costs of taTc"ing�contcol o�ana-manag►ng ttie Pr3petty�tttl-talt�tin�the�RentS:inctuding:but-----.... .. <<
<br /> � , not limited to. attomeys' fees, reoeiver s fces. premiums on receiver s bonds, repair nnd maintenance cosu. _ _
<br /> insurana premiums. txxes,assessmeats and other charges on t[ie Property,and then to the sums secumd by the �
<br /> , , Security Iesaument;(v)Lender.Lender's agents or azry judicially appointed receiver sha}i be liable to ar,count for • . f�.
<br /> only those Rents actually received; and (vi) Lender s3ia11 be..endtled to have'a receiyer_appainted io take `'""'��
<br /> possession af and manage the Property and collect tiie Idenu and profits derived from thC Pmperry without any �''�'�•�--
<br />_ ,showing as to the inadequacy of the Property as securat}. `''`"�
<br /> If the Ren�s of the Properry are not sufficier.t to cover the wsts of taking control of and managng the ��=-- _—
<br /> Property and of oollecting ths Rents any funds exp�`zd by Lender for sucb purposes shall become indebi�¢�ss �
<br /> of Borrower to Lender secure�d by the Securiry Instrument pursuant to Uniform Covenant 7. ����
<br />_ Borrower represents and�warrants that Barrower h�.s not exec�ted any prior assignment of the Rents and has ���
<br /> • not and wili not perform any act that would preveut E.�nder from eaercising its rights under this paragraph. . '` =4=•
<br /> • Lender.or Lender's agents or a}adicially a�ointed receiver, shall not 6e reqaired to enter upon, take . '`-'•�;�:
<br /> control of or maintain the PropeRy befom or after gIving notice of default to Bosrower. However. LeRdec, ar `'"`' �-
<br />° l,ettder's agents or a judicially apQointad receiver.may do so at any time when a default oocurs.Any appiication � ' '�n
<br /> of Rerts sha11 not cure or waive any def�.ilt or invali4ate any othe:right or remedy of Lender.Tius assignment of :�� c���
<br /> . Rents of the Property shall terminate when aIl the si:res secured by the Security Ynsuument are paid in full. • `�
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<br /> I.CROSS-DEFAULT PROVISION.Bonon�ei s default or brrach under any note or agreement in wt�ch '�-*`=
<br /> l.ender.has an interest shall be a breach under the Sa;uriry instrument and Lender may invoke any of the rent�'s� �' 9•. `—
<br /> 'pem�itted by the Security Instru nt. J✓/i
<br /> BE orrower a ts and a to the terms and provisioru contain e d in t h is 1-4 ���'�
<br /> BY (3M G �p 8*� -
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