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<br /> ' `:"-::.�i C.ASSIGNIV�N�OF LEASFS. UpOn Leade�'s teqttesl.Bosowet St1all 2S.4i$u iD LeIIdei all leeses of IhC L• ::
<br /> �' " pmgerty aad all ser�rity deposits made in connection with leases of the Propeny.ilpon the assigument,Leoder ; ,
<br /> "=-<--- - -
<br /> � - sball bave the tight t�modify,extend or�the existin8 tesses aud to execu�aevr leases,ia Lendea's sole -�-�r •�:-
<br /> :.` • d'sscaetion As ased m this pazagrapt�G.the word"tease" shall mean"sable�se"if the Security Instsumeut is on a � , "s�.
<br /> r, � ` . : �easehold. � . ,
<br /> . . ; �.� �. ASSIGNR�N'f OF REPPi'S's APPOINTIV�NT OF RECEIVER; LENDER W POSSFSSIOIV. ..�:; ;��J' .
<br /> ` ' `_:: Bormwer absolutely aad uncondiUnnaliY assigas and u�.sfers m Leader aIl die�ts and zeveaues("Renm'�of the .; `..•� ,�.
<br /> . ` pmpectY,re�of to whom the Reats of the Progeaty ate payable.Hnaowei authorizes Lender or L�der�s
<br />•<: .. ,. . � agents to cullect the 1teals,and agcees thai earh tenant of the Ympariy shall pay the Rents oa Irndea ar Lender s : ,�:�
<br /> +'- , agents.Hawever,Ba�wer s6a11 receive ihe Rea�ts uauy(i}Lender has give�Bmrower notice of defaWt pursuant t� . �� ��-�;
<br />'-��.. , Pazagrapb 21 of ihe Secu�ity Insuum�t and(u�Lendea has given notice to the tenant(s)thai the Reuts are in be ,� _
<br />��� '� ` gaid to Leltdrs ar l.�dea's agenL This assignme�t of Reauts canstiffies aa absol�e ass�nmeat and not an „.
<br /> . assignanent for addiaionai sec�aity only.
<br /> � .. , If Lender gives aotice of breach to Hottower.(�all Rents received by Bosrawea shall be held by Bormwa as •
<br /> -. uastee for tice bencSu o�Le�dea oniy,oo be agplied to the smms secaued lry the Sec�ity Iastrume�fi Cn�I.euda shall . .
<br /> be entialed to col�Ct a�ceceive atl of the Re�ts of the Pmpe�ty;(ii�7 Borrower agcees that each�ant of the =-
<br /> - . ptogeaty st�pay all Rents due and tmpaid to L��ar Leuder's ageats npoa I.eader's wriur,�demamd m the _ - -
<br /> r:. � t�anx C�)��$DP�c�b2e law provides othcawise.aII R�ts ooUectcd by Lendc,r or Leudea's ageats�be . _�:
<br /> �.- applied fust m the costs of takmg contm�l of and m�aging the Propcaty aad coltecting the Re,nts.inctudmg,but noi ,.. �_=
<br /> � • ' limited to,anoiueys'fecg.receivea's fe�s,Premiams on receive�s bonds.repa�r and rnaiute�nance costs,ins�uance ,. ` ��`�''
<br /> :;;; .
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<br /> ' premiums,ta�ces.ass�s�ents and other c6arges on the Praperty,and then W the svrns seau�d by the Securit�► --
<br /> - Insoramen�(v)Lc�dea,I.ender's age�ts or any judiciallY appointed re�eiver shali be tmble to acxount for only those - , ,:
<br /> Rents asa�atly received:and(vr�I.eader shall be entitted to dave a receiver appointed to take posses.sion of and --
<br /> manage the Pmperty and collect the R�ts and pmfit�derived&om We Property withaut any showiug as W the ,'; ��.�_�:;_
<br /> ` • iaadequac.y of the Ptoperty as security. �• ;. ^
<br /> � � . If the R�ts of the Propeaty �e not saf6aent w covea dte costs of taking confiol of and wanaging!he .
<br /> � Propeaty and of coIlect�sg ttte Re�ts any fands expended by Lendea for such piaposes shari hecame indebtedness af � '' r . ,�.
<br /> e ;:.:5,�. .•�_.
<br /> `` ° Bouowra to Lendea securec!by the Ser.u�rity Insuumeat pursuant�o Unifoan Covenant 7. ,. , .,;x.�-
<br /> Boirower represents and wa�that Boaower 6as aot executed any prior assignment of the Rents and has �':M�
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<br /> � ., not and w�U not perform any act that would preveat Lender from exescising its ri�ts uada tbis pa�ag�apb. , 4.. �
<br /> ;_.;`_. Lender,ar Lender's age�ts or a jndicialiy appa�nied receiver,shall not be required to eater upon,take conuol , . .. '-{
<br /> of or maintain the Pcopeity before or afua giving notice of defanit�o Bmcower.However,Lender,or I.eaidea's -�.`,-�•.. i�`��=
<br /> � � � agents or a judicially appointed receiv�,maY do so at any time when a default oaaus.Any applicaiion of Rents ;; -�:
<br /> -:�:,.
<br />_.;�'�� , .. ` sha11 not ciu�or waive any defanit or invalidate any other right or remedy of Lender.This assignment of Rents of ��: 'r�' __
<br /> • � ` the Ympeny shall t�minate when all the sums secured by the Se�auity Insuument are paid in fWl. , �
<br /> �� _ I.CIROSS-DEFAl1LT PROVISION. Borrower's defaWt or breach imder any note ar ageement in _
<br /> ^ ' ., w6ich Lendea h9s an interest shall6e a breach nndea the Security Insuameni and Lender may invoke any of tha '`��•`�. =_
<br /> '�. • remedies permiued by ihe Secarity Instrumen� '- - :
<br /> .. . BY SIGNINQ BELOW.Botmwe�aecepts and agrees w the tcams and provi�ons contained in this 1-4 Family �., •;, �,�::`•'.
<br /> `. , Itider. . , -
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<br /> - � � (Seal) �Jw�eo,,.��75" .C2 �/> (Seal) , :
<br /> , ' ,- � DAVID L PIEPBFt -Horrowa KATALEEN R P ER •Horrower . • .
<br /> �-�, 4 Sea1) �.�(1 Seal) . ' �
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<br /> � �• !� -Hottower -Boaower ' '
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