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., ; 200512273 to paragraph 21 of tht: St:curity Instrument and (ii) Lender has given notice to the tenant(s) that the Rents are to bt: paid to Lt:mlt:r or Lender's agent. This assignment of Rents constitutes an absolute assignment and not an assignmt:nt for additional security only. If Lender givt:s notil:t: of brt:m;h to Borrower: (i) all Rents received by Borrower shall be held by Borrower as trustee for tht: bt:nt:fit of Lt:ndt:r only, to bt: applit:d to tht: sums st:cured by the Security Instmmt:nt; (H) Lendt:r shall bt: entitled to collect and receive all of the Rents of the Property; (Hi) Borrower agrees tllat each tenant of the Property shall pay all Rt:nts dUt: 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 lmd managing the Property and collecting the Rents, induding, but not limited to, allomt:y's fees, receiver's fees, premiums on receiver's bonds, repair and maintenance costs, insurance premiums, taxes, assessments and other charges on the Property, and tht:n to tht: sums securt:d by the Security Instrument; (v) Lender, Lender's agents or any judicially appointed receiver shall be liable to account for only those Rents actually rt:ct:ivt:d; and (vi) Lt:nder shall bt: t:ntitled to have a receiver appointed to take posst:ssion of and manage the Propt:rty and collect the Rents and profits derived from the Property without any showing as to the inadequacy of tht: Propt:rty as st:curity. 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 for sucb purpost:s shall become indebtedness of Borrower to Lender secured by the Security Instrument pursuant to Unifonn Covenant 7. Borrowt:r represents and warrants that Borrower has not executed any prior assignment of the Rents and has not and willnot perfonn any act that would prevent Lender from 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 maintain the Property before or after giving notice of default to Borrower. However, Lender, or Lt:nder's agents or a judicially appointed receiver, may do so at any time when a default occurs. Any application of Rents shall not cure or waive any default or invalidate any otller right or remedy of Lender. This assignment of Rents of the Property sballtenninate when all the sums secured by the Security Instrument are paid in full. l. CROSS-DEFAULT PROVISION. Borrowt:r's ddault or brt:ach undt:r any nott: or agreement in which Lender has (111 interest shall be a breach under the Security Instrument and Lender may invoke any of tlle remt:dit:s pt:mlilled by the Security Instrument. BY SIGNING BELOW, Borrower accepts and agrees to the tenus and provisions contained in this 1-4 Family Ridt:r. &({Ud~~ R LANDO A. ERRA (Seal) Borrower =:~~ (St:al) Borrowt:r (St:al) Borrowt:r (Seal) Borrower (Seal) Borrower (St:a1) Borrowt:r MULTISTATE 1-4 fAMILY RlDl-"J{ - Single Family - FNMAlFHlMC UNIFORM INSTRUMENT Document Systems, Inc. (800) 649-1362 Page 2 of 2 FORM 3170 9/90 U,~]42.J'dr 1111111111111111111111111111111111111111111111111111111111111