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<br /> � G.ASSIGNMENT OF LEASES. Upon Lcndcr's rcqucst, Borrowcr sh�ll asslgn to L.ender all lcases of Ihc '•�_.
<br /> �. i 1 Property and all sxtuity dcposits madc In connection with lcases of the Property. Upon thc assigruncnt,l.endcr _-�1�-
<br /> .:�,�,, ;� shall have the dght t+o modify,catend or terminate the existing leases and to cxecutc new leascs,in I.endcr's solc
<br /> .,,r, ;I discretton.As uscd in�his paragraph Ci,the word"lease"shall mcan "sublease" if the Sccurlry Instrument ls on a
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<br /> H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. °
<br />- ' � Aonowcr absolutcly and uncondidonnUy assigns and transfers to Lendcr all the rents and revenues("Rcnts")of the --��
<br /> property,regardkss of to whom the Rcnts of ihe Propeny are payablc. Borrower authorize.4 L.ender or Lender's :' °
<br /> agents to coUect thc Rsnts,and agrecs that each ecnant of thc Prope�ty shaU pay the Rents to Lendcr or Lender's '_,�-
<br /> agents.However,Bonower shall rcceivc the Rcnts undl (i)L.ender has given Bonower nodce of default pursuent to ;��-:
<br /> paragraph 21 of the Sxuriry Instnunent and (u)Lender has given notice w the tenant(s)that the Rcnts are to be '"•-=�
<br /> paid ta I.ender or Lcnder's agen� This assIgnment of Rents consdwtes an absolute assignment and not an �.r'�
<br /> ' assignment for addIdanel seturIry only. •
<br /> � If I.cndcr gives radce of brcach to Borrower.(i)all Rents recei�ed by Borrower shall be held by Borrower as __
<br /> ' trustce for the Ixnefit ot Lender only,to be applied to the aums secured by thc Securlty Instrument;(ii)Lender shall =
<br /> - � bc3 enHded to coAxt snd recelvo all of tho Rents of the Property; (iii) Borrower agrees that each tenant of the �
<br /> Property shall pay all R�nts due and unpaid to L.ender a I.ender's agents upon L.ender's wriaen demand to the
<br /> tenant; (iv) unless applicable law provides otherwise, all lzents wllected by L.ender or Lender's agents shaU be � '
<br /> � upplied first to Uw cos�s of taking control of and managing the Property end collecting the Rents,including,but not !�_,.
<br /> � limitcd to,attorneys' fees.rcceiver's fces,Premiums an rxeiver's bonds,repair and maintenance costs,insurance r
<br /> premiums, taxes,assessments and other charges on the Property,end then to the sums secnred by the Securiry �•
<br /> Instrnment;(v)Lender,Lcnder's egents or any judicially appointed receiver shall be liable to account for only those -_
<br /> ,� Rents actuaUy re�eived; and (vi)Lender shall be cndtled to have a receiver appointed to t�lce possession of and __
<br /> P manage the Property and coAtxt the Renu and profits dcrlvcd from the Property without any showing av to the :
<br /> -____ _ � inadec3nacy of the Property as security. �_
<br /> �' If the Rents of Ihe Property are not sufficient to caver the costs of taicing control of and managing the __
<br /> Property and of coAecring the Rents any f�u�ds expended by Lender for such pucposes shall become indebtedness of
<br /> � �' . � Borrower to L.ender secured by the Securlty lnstrument pnrsuant to Uniform Covenant 7.
<br /> Borrower represents and warrants thec Borrower has not executed eny prlor assignment of tho Rents and has
<br /> �� not and wlll not perform any ect that would prevent Lender from eaercising its riahts nnder this paragraph. _
<br /> i.ender,or Lerider's agents or a judiciaUy appointed roceiver,shall nat be requimd to enter upon,teke control
<br /> of or mainttdn the Property before or aher givIng notice of default w Borrower. However.I.ender,or Lender's
<br /> aBen�s or a j►,a�c�uy a�po�nr�a rec�,��r,may do so at any tLne when a default accius.Any appUcatIon of Rents _
<br /> r shaU not cure or waivc any default or invelidate any other right or remcdy of L.ender.'I7�is assignment of Rents of
<br /> s the Property shull terrninate when atl the sums secured by the Security Instrument are paid in full. -•
<br /> ;� I.CROSS•DEFAULT PROVISION. Borrower's dcfault or breach �ndcr any note or agrecment in =
<br /> which Lendcr hes an interest shall bc a breach under the Sccurity Instrument and L.cnder may invoke any of the
<br /> � remedies pem►itttd by the Security Instrumen� �
<br /> BY SIGNIIVG BELOW.Bomower accepts and agrees to the terms and provisions contained in this 1-4 Family �—'
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<br /> ` TODD D RCiAN •Sorrowcr F1�S A !"IORCi14N -Borrowcr _
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<br /> , •Bortower •Bortowor -
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<br /> { �-67 tasep.o� Pay zaz Forrn 31T03/93 �°�:'
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