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200209921 F. BORROWER'S OCCUPANCY. Unless Lender and Borrower otherwise agree in writing, Section 6 concerning Borrower's occupancy of the Property is deleted. G. ASSIGNMENT OF LEASES. Upon Lender's request after default, Borrower shall assign to Lender all leases of the Property and all security deposits made in connection with leases of the Property. Upon the assignment, Lender shall have the right to modify, extend or terminate the existing leases and to execute new leases, in Lender's sole discretion. As used in this paragraph G, the word "lease" shall mean "sublease" if the Security instrument is on a leasehold. B. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. Borrower absolutely and unconditionally assigns and transfers to Lender all the reins and revenues ( "Rents ") of the Property, regardless of to whom the Rents of the Property are payable. Borrower authorizes Lender or Lender's agents to collect the Rents, and agrees that each term of the Property shall pay the Rents to Lender or Lender's agents. However, Borrower shall receive the Rents until (i) Lender has given Borrower notice of default pursuant to Section 22 of the Security Instmnnent and (ii) Lender has given notice to the ternl(s) that the Rents are to be paid to Lender or Lender's agent. This assignment of Rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of default to Borrower. (i) all Rents received by Borrower shall be held by Borrower as trustee for the benefit of Lender only, to be applied to the sums secured by the Security Instrument; (ii) Lender shall be entitled to collect and receive all of the Rents of the Property; (ii) Borrower agrees that each terns of the Property shall pay all Rents due and unpaid to Lender or Lender's agents upon Lender's written demand to the tenant; (iv) unless applicable law provides otherwise, all Rents collected by Lender or Lender's agents shall be applied first to the costs of taking control of and ianaging the Property and collecting the Rents, including, but not limited to, attorney's fees, receiver's fees, prenniums on receiver's bonds, repair and maintenance costs, insurance prenumus, taxes, assessments and other charges on the Property, and then to the sums secured by the Security Instrument' (v) Lender, Lender's agents or any judicially appointed receiver shall be liable in account for only those Rents actually received; and (vi) Lender shall be entitled in have a receiver appointed to take possession of and manage the Property and collect the Rents and profits derived from the Property without any showing as in the inadequacy of the Property as security. If the Rents of the Property are not sufficient to cover the costs of taking control of and managing the Property and of collecting the Rents any funds expended by Lender far such purposes shall become indebtedness of Borrower to Lender secured by the Security Instrument pursuant to Section 9. Borrower represents and warrants that Borrower has not executed any prior assignment of the Rents and has rot performed, and will not perfomn, any act that would prevent Lender front exercising its rights under this paragraph. Lender, or Lender's agents or a judicially appointed receiver, shall not be required to enter upon, take control of or nnaintain the Property before or after giving notice of default to Borrower. However, Lender, or Lender's agents or ajudicially appointed receiver, may, do so at any time when a default occurs. Any application of Rents shall not cue or waive any default or invalidate any other right or remedy of Lender. This assignment of Rents of the Property Shall terhnirte when all the sums secured by the Security Instrument are paid in full. MULTISTATE 1 -4 FAMILY RIDER OocMagicemmme eco errs rasa Fannie Mae /Freddie Mac UNIFORM INSTRUMENT www. docmagic.com Form 3170 1/01 Page 2 of 3 r.nnm w