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<br /> (,�. ASSIG►�1611:N7'QF I,F;AS1:S, Upon I.cndcr's rcyucst, 13orruwcr tihull nssi�n to l.endcr ull Ica�+cs of thr. ��
<br /> Froperty nnJ idl sccurf�y dc�x►sits madc in rnnnection with Icascs oP thc Properry. Upon Ihc assignment. Lendcsr ^.
<br /> �hid! hnvc die riLlU lo mo�iify.aKtcnd ur tcruiinutc thc cxisting Icascs nnd tu cxccutc iiew Icascs, in Lcndcr's sala �;.;:
<br /> discr..tion. As used in this pai7igrnph fl,thc word "lcasc" shull mc:►n "sublc.�sc" if dtc Sccurity Instrument is on =
<br /> u icaschold.
<br /> H. ASSIGNMEN't OF RENTS; APi'QIN�'bfENT OF RGCEIVI:R; [.F.NDF,R IN POSST.SSiC1N. _
<br /> Borrowcr ubsalutely and unconditio��ally assigns and transfers to Lender�dl thc rents und revcnucs("Rents")c�f _
<br /> the Peopeny, regardlcss of to whom the Rcnts of the Pmperty urc payablc. Borrowcr authoriixs L.ender or �_,
<br /> [.cndcr's ngent� to collect the Repts, und agrecs that each tenant of the Property shnll pay the Rente to Lender or
<br /> Lender's agems. Howeve�•, �orrower shall rcceive ths Rcnts until(f) Lendcr has givan Borro�ver nntica of dafnult °--
<br /> pursuant to para�raph 21 of the Security Instrument and(ii) I.ender hAS given notice to thQ tenant(s)that tho Rents
<br /> are to bc paid to lxnder ur L.cndcr's ngent.This ussignment of Rents constiwtes an absalute assignmont and itot
<br /> an assignment for additional sccurity only.
<br /> If Lender�ivcs nottce of brcnch to Horro�ver:(i)all Rents received by Borrower shall be helcl by Barrower
<br /> as trustee far the bei�eRt oF I.endsr only,to be applled to the sums secured by the Security Instrument;(ii)Lend�r
<br /> sl�ai3 i�z eutided to collect and recsiw�all of the Rents of tho Pro{�erty;(iii)Aorro�ver agrees dint euch tennnt of tht� _
<br /> Property shall pay all Rcnts due ancl unpaid to L.ender ar I..endec's agents upan Lcndar's writton dcmand to thu
<br /> tennnz; (iv) unless�p�ticable law provides otherwise, ull Rents collected by Lcnder or Lcndc�r's agontt: shnll be
<br /> applied first to the costs of tnking canu•ol of an�6 managing the Property und collecting tlic Rentr�, inGluding, but �_
<br /> not le�nited to, attorneys' fces, receiver's fees, prcmiums on rcceiver's bonds, repair und maintennnce costs, __
<br /> insurance premiums, taxes, assessrraEnts und other chur�cs on the Propeny, and then to thc+sums sccurcd by thc _
<br /> Serurity Instrument;(v)Lender, I.,c:nder's agents or any judlcinrly app�lntcd receivor shull ba Iinblo to account far
<br /> onl�• those Rcnts actually rcceived; and (vi) L,ender shaU �e entitlul to hnvo n rr.oeiv�r ��r����u�:d to take
<br /> po�session of and managc the Property and callect the Rents and profits dorived from thc Pn�perty without miy
<br /> showing As to the inadequacy of the Property as security.
<br /> if the ltents of the Property are not sufficient to ca��er the costs of tnkinfl control of and managing thc
<br /> i r�E,;..ny an��:�;:�t�na s��p°^���; f�n���x��ndPd hy�.ender for such pur�ases sliidl become indebtedness
<br /> of�orrower to L.ender st:cured by the Sccurity Instrument pununnt to Unifurm Covenznt,7.
<br /> Horrowcr represents und wurrants that Horro+vcr Bas not axecute�i nny�rior assigmnent of the Rents and has --
<br /> not and will not perform any act that would prevent Lendcr fram exercising its rights under this paragraph. __
<br /> l,endcr, or Lendcr's agents or a judicially nppainted receiver, shall not be rcquired to entcr upon, take
<br /> control of or maintain the Property before or after�iving ►�otice of dcfault to Borrower. However, I.cnder, or
<br /> Lender's agents or a judi�ially appninted receiver,may dn so at any time when a default�accurs. Any application
<br />- of Rents shall nat cure or waivc any default or invalidate any other right or remedy of I.ender.This assignment of
<br /> Rents of the Property shal!�erminate when�ll the sums secured by the Security Instrument are paid in f�11.
<br /> l.CR05S-I�EFAULT 1'ROVISION.Borrower's default or breach undcr aoy note or a�rcement in which
<br /> Lender has an interest shall be a breach under the Security xust�nnent and I.ender may invoke Any of the remedics
<br /> permitted by the Security Instrument.
<br /> BY SIoNING HELOW, 8orrower nccepis and a�rees co thC tCims �u�d p�ov�sions cont�ined in this 1-4
<br />_ RW.r:I D:.t.. �- .
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<br /> �j°'�i�i���'_�`�%%�.�i� `����� � S�p
<br /> MICHAEL R CFIRISTENSEIV •Burrowcr KARI D f3Fi0lNIV •snrrowcr
<br /> �'.�,�1. � �]�---r+�ea1) (Seal)
<br /> MIG1'IAEL K Bf�(IMA�1 -oorrowcr -Borrowcr
<br /> Form 3170 3Ifl9
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