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�oioo�s4� If Lender gives notice of default to Borrower: (i) all Rents received by �3orrower shall be held by Borrower as trustee for the benefit of L.ender only, to be applied to the sums secured by the Security Instrument; (ii) Lender shall be entitled to collect and r�ceive all ofthe Rents ofthe Property; (iii) Bonrower agrees that each tenant 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 ptherwise, all Rents collected by Lender or Lender's agents shall be applied first to the costs oftaking control of and managing the Properiy and collecting the Rents, including, but not limited to, attorney's fees, receiver's fees, premiums on receiver's bonds, repair and maintenance costs, insura��ce premiums, taxes, assessments and other charges on the Property, a�id then tp the sums secured by the Security lnstrument; (v) Lender, Lender's agents or any judicially appainted receiver shall be liable to account for only thpsa Rents actually received; and (vi) Lender shall bc entitled to have a receiver appointed ta take passession of and manage the Property and collect the Rents and profits derived from the Froperty without any showing as to the inadequacy of the Prpperty as security. lf the Rents ofthe Praperty are not sufficient to cover the costs oftaking control of�nd managing the Froperiy and of collecting the Rents any funds expended by Lender for such purposes shall became indebtedness of Borrower to Lender secured by the 5ecurity Instrument pursuant to Section 9. Borrower represents and warrants that Borrower has not executed any prior assignment of the Rents and has not performed, and will not perform, any act that would prevent Lender fram exercising its rights under tl�is paragraph. L.ender, or Lender's agents or a judicially appoia�ted receiver, shall not be required to enter upon, take control of or maintain the Property before or after giving notice of default to Bnrrower. However, Lender, or Lender'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 dafault or invalidate a�iy other right ar remedy of Lender. This assignment of Rents ofthe Properry shall terminate when all the sums secured bythe Security Instrument are paid in full. I. CROSS-DEFAULT PROVISION. Borrower's default or breach under any note ar agreement in which Lender has an interest shall be a breach undar the Security lnstrument and Lender may invoke any ofthe remedies permitted by the Security l�strument. BY SiGNiNG BELOW, Borrower accepts and agrees to the terms•and covenants contained in this 1-4 FamilyRider. � (Seal) rrowcr Robert L Meier � (Seal) Borrower Susan eier Borrower Borrower (Seal) (Seal) MiTLTISTATE 1-4 FAMILY K1DER--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT 9842.CV (8/09) 03-1127 Form 3170 1/O1 (page 2 �f 2 pages) Creative Thinking, lnc. GOTO(00231 c54)