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200202233 RERECORtSED NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows- 200212578 -17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the tents and revenues of the Property. Borower authorizes Lender or Lender, agents to collect the rents and revenues and hereby directs each tenant of the Property In pay the rents to Lcndcror Lender's auen[s. Hmvever, prior to Lender's notice to Borrower of Bonrower's breach of any covenant or agreement in the Security Instrument Borrower shall collect and receive all reins and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only If Lender gives notice of breach to Borrower (a) all rents received by Borrower shall be held by Borrower as trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrumenp (b) Lender shat) be entitled to collect and re:ehe all of the [nuts of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant. Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender from exercising its rights under this Paragraph 17. Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in hall. 18. Foreclosure Procedure. If Lender requires immediate payment in full under Paragraph 9, Lender may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Paragraph IS, including, but not limited to, reasonable arm neysTees and costs of title evidence. If the power of sale is invoked, 'Trustee shall record a notice of default in each county in which any part of the Property is tocamJ and ,hall marl atpicn of Inch notice In the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice of sale to the persons and Sa the mantmr p...... bed by applicable law. Trustee, without demand on Borrower, shall sell the Properly at public auction to the highest bidder at the time and place and under the reins designated in the notice of sale In one or more parcels and in my order Trustee determines. Trustee may postpone sale of all or any parcel of this Property by public announcement at are utnc an place of any prevrously scheduled sale. Lender or its designee may purchase the Property at any sale. Upon receipt of payment of the price bid, Trustee shall deliver nt the purchaser Trustee`s deed conveving the Pn.peny- Ihe ¢ci WII in the I us2es deed shall be prima facie evidence of the truth of the ,statement' made therein. 'f rustee shall apply the proceeds of the sale in the following order: (a) to all costs and expenses of exercising the power of sale, and the sale, including the payment of the Trustee's fees actually incurred, not to exceed S 9r of the principal amount of the note at the time A the declaration of detain, and reasonable attorneys' fees as permitted by law: (b) to all sums secured by this Security Insuumenr, and (c) any excess to the persons legally entitled to it. If the Lender's interest in this Security Instrument is held by the Secretary and the Secretary required immediate payment in full under Paragraph 9, the Secretary may invoke the nonjudicial power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 ( "Act") (12 U.S.C. 3751 et seq.) by requesting a foreclosure commissioner designated under the Act to commence foreclosure and to sell the Property as provided in the Act. Nothing in the preceding sentence shall deprive the Se,etap of airy rights otherwise available to a Lender under this Paragraph I8 or applicable law. 19. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. 20. Substitute Trustee. Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to am IYustec appointed hereunder by an instrument nx:ordcd in the county in which this Security Instrument is recorded. Without conveyance of the Property, [fie successor trustee shall succeed to all the title, power and duties cotened upon 'h usrec herein and by applicable law. 21. Request for Notices. Borrower requests that copies of the notices of default and sale be sent to Borrower's address which is the Property Address. °oroo.o I. cox rrzturrsana P f6 oge5 o