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�0�1�5�� E"BORROWB�S WGHT TO RBNSTATE" DF1El'�. Section 19 is deleted. F. �RROWE}YS 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 ta Lender all leases of the Property and al1 security deposits made in cohnection with leases of the Property. Upon the assignment, Lender shaU have the right to modify, extend or terminete the existing leases and to executa new leases, in Lender's sole discretion. As used in this paragraph G, the word "lease" shall mean "subtease" if the Security Instrument is on a Ieasehoid. H. ASSIGNME]VT C}F RENTS; A�OINTMHVT OF I�CEI1/ER; LBVDBt IN POSSESSIOW. Borrower absofutety and uncondi#ionally assigns and transfers to Lender all the rents and revenues t°Rents") of the Property, regardless of to whom the Rents ofi the Property are payable. Borrower authorizes Lender or Lender's agents to collect the Rents, and agrees that each tenant of the Property shaU pay the Rents to Lender or Lender's agents. However, Borrower shall receive the Rents until: (i) Lender has $iven Borrower norce of default pursuant to Section 22 of the Secur'rty Instrument, and {ii) Lender has given notice to the tenant(s) that the Rents are to be paid to Lender or Lender's agent. This assignment of Rents constrtutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of default to 8orrower: (i) aH ftents received by Borrower shatl be held by Borrower as trustee for ihe 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; (9ii} Borrower agrees that each tenant of the Praperty 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 ta the costs of taking control of and managing the Property and colleot�ng the Rents, including, but not limited to, attorney'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 then to the sums secured by the Security InsVUment; (v� Lender, Lender's agents or any Jud�cially appointed receiver shall be liable to account for only those Rents actually received; and 1vi) Lender shall be entitled to 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 to 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 Properly and ofi coflecting the Aents any funds expended by Lender for such purposes shall become indebtedness of Borrower to Lender secured by the Secutrly Instrument pursuant ta Section 9. $orrower represents and warrants that Borrower has not executed any prior assignment o# the Rents and has not performed, and will not pertorm, any act that would prevent Lender fram exercising its rights under this paragraph. Lender, or Lender's agents or a judicially appointed receiver, sha0 nofi be required to enter upon, take control of or maintain the Properiy before or after giving notice of default to Borrawer. However, Lender, or Lender's agents or a judicially appointed receiver, may do so at any fime when a defauit oocurs. Any application of Rents shatl nofi cure or waive any defauit or invafidate any other right or remedy of Lender. This assignment of Rents of the Prcperty shall terminate when all the sums secured by the Security Instrument are paid in full. I. CROSS-DEFAULT PROVISION. Borrower's default or breach under any note or agreement in which Lender has an interest shalt be a breach under the Security Instrument and Lender may invake any of the remedies permitted by the Security Instrument. 2200149668 D V57R MULTISTATE'1- 4 FAMILY R1DER- Fannie Mae/Fredcfie Mac UNIFORM INS7RUMENT VMP �-57R (0811 } Page 2 of 3 Initials: �J - I-1.�Form 3170 1101