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.^�+ „��_ ' . . . '_�;�'_'� ,. , �,.�..... . , , � '�, „ �� „ • '°�i- .. ,�.��• . , . ,, _ .�:- �� )��i.� G.ASSIGNMENT OF LEASES. Upon Lcnder's requcst,Borrowcr shaU ussi8n to I.cndcr all lcascs of thc -- �� Propert� and all sccuriry deposits mactc in conncction with lcases of Ihc Property•Upon thc assignment, Lcndcr shall havc thc dght to modffy�exte�nd or terminaus Ihc exisdng leascs and to cxccutc ncw lerscs,in L.cndcr's solc = discredon.As used in this riara8reph C3,the word'7ease" shall mean "sublease" if the Security Insaument is on a _ leasehold. ,'= H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEI�+F.R; LENDER IN POSSESSION. �.� — Borrower abso!utely and uncondIdanally assigns and transfcrs to Lcnder all the rents and revenues("Rents")of the �., property,rcgardless of to whom the Rents of the Property arc payable.Bonowcr authorizes I.cndcr or Lendcr's ��, agcnts to wllcct�he Rents.and agrces that each tcnant of the Property shall pay the Rents to I.ender or L.cndcr's • � agents.Howcvar,Bormwcr shall receivc tha Rents untii({)Lender has given Borrower notice of dsfault pursuant w „ paragraph 21 of the Secnrity Inshument and(ii)Lender has giv�n n�dce to the tenant(s) that thc Rents are to be _ � paid ta Lcnder or Lender's agent 'Il�is assignment of Rents cnnsdtutes an absolute assignmcnt and not an ; assignment for addidonal security only. ` �' If Lcnder gives nodce of breach to Borrowcr:(i)all Rents received by Borrower sheU be held by Borrowcr as �= trustee for the benefit of L.ender only,to be applled to ihe sums sccured by the Security Instrument;(ii)Lender shall -_ ,� be endded w collect and receive all of the Renu of the Property; (iii) Sorrower sgrees that each tenant of thc Property shall pay aU Rents due and unpaid w Lcnder or L.cndcr's agcnts upon L.ender's written demand to the tenant; (iv) unless applicable law provides otherwise,ell Rents collcxted by Lender or Lender's agents shaU be applied first to the costs of teking control af and maneging the Property and collecdng the Rents,including.but not �. , limited to,atiomeys' fees,receiver's fees,premiums on receiver's bonds,repair and ma�ntenance costs,Ins�uance ., �i premiums,texes.assessments and other charges on the Property, and then to the sums secured by the Securlty Insuument;(v)I.ender,I.ender's agents or any judicially appointed receiver shall be liable to account for only those = � Rents acwally received;end(vi)Lender shall be entided w have a receiver appointed to taice Possession of and E;;: �.� manage the Property and coUect the Rents and profits dedved from the Property withouc any showing us ic,tnc � 4l= �: inadequacy of the Property as security. _ If the Rents of the Property are not sufflcient to cover the costs of taking conuol of and managing the -_ � � Property and of collecdng the Rents any funds expended by Lender for such purposes shsU become indebtedness of __ . �� Borrower to Lender secured by the Sec�ulty Instrument pursuent to Uniform Covenent 7. _ �e Borrower represents and warrants that Borrower has not executed any priur assignment of the RenLS and tias _ not and wUl not perfarm any acc that would prevent L.ender fram exercising its rights under this paragraph. = �= L.ender,or Lender's agents or a ju�icially appointed receiver,shall not be required to enter upon.take conlrol '"� of or maintain the Property before or after giving nodce of default w Borrower. Howevu, Lender,or x.cnder's ° IIcadon of Rents `'' agen4s or a judicially appolnted rexeiver,may do so at any time when a default occurs.Any app - shall not cure or waive eny defa�lt or invalIdate any other right or remedy of I.ender.'I7�is acsignment of Rents of _ ` the Propecty shall terminate when all the sums secure�i by the Security Instrument ace paid in fuA. - I.CROSS•DEFAULT PROVISION. Borrower's default or bresch under any note ar a�eement in ■� which Lender has an interest shall be a breach under the Security Insuument and Lender may invake any of the ��=-- remedies peamitted by the Security InstrumenG C- BY SIGNWG BfiLOW,Borrower accepts and agrees to the terms and provisions contained in this 1-4 Famlly _ Ridcr. .4� \ ,t.- ._ � . � _.. _ . � �• `.,,� l •' (Scal) ' � (S�) -- RONALD S D� •Barrowcr LOR P •Sorrowcr -_____ . . _(Scel) (SC81) •:�y�;' •Bortower -Horrowcr ,,�:E:' � �l:� _ .;::. � (�j •b7 (G304).Ot P�q�2 of 2 Form 3970 3/93 ' i I I � � L • -i r=,._---- I _ _ - -- _ _ _ __ _ � _ _ _