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<br /> 98 �as�ri -,.�,�
<br /> C.ASSICNMENT�IF LF.A9ES. [Ipan Lcndcr's requcs� Borrowcr shall assign to Lendcr all lcases of thc
<br /> ' Praperty and all securlty dcposits madc in conncctIon with kases of thc Property. Upon thc asslgnmcnt,Lendcr �;�.�,� _,
<br /> ,,,,,,,,,r:� ! shaU havc thc right t�modify,oatcnd or tcrminatc thc existing lcascs and to cxccutc ncw Icases,in Lcndcr's solc ��
<br /> �..m ys+� . discrcdon. As uscd in this paragraph G,thc word"teasc" shall mcan "sublcasc" it thc Security Instrument is on a ; `—
<br /> lcaschold. ."�.,:�'�;
<br /> ; � H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. .�;,�,%;z :�.
<br /> ! � Borrowcr absolutcly and unconditionally essigns and transfcrs to Lcndcr all thc rcnts and revenucs("Rcnts")of thc ' •�,��`:�
<br /> ; Praperty,regardless of to whom thc Rents of thc Property arc payablc. Borrower authorizes Lcndcr or I.cndcr's ��"�'";,'
<br /> iagcnts to collect the Rents,and agrees that each tcnant oP the Property shaU pay the Rents ta Lcndcr or Lcnder's �`' �
<br /> � agenis.Howcvcr,Borrower she11 reccive thc Rents undl(t) Lcnder has given Sotrower notice of default pursuant to
<br /> 4 paragraph 21 of the Sccurlty Insbrument and(ii)Lender has�iven no6ce to the tenent(s) that thc Rents arc to bc ;�
<br /> : � paid to Lcnder ar Lcnder's agenG 'T'his assignment of Rcnts conspwtes an absolute assignment and not an
<br /> „ assignment for addld�nal seciulty only.
<br /> � if i.ender givac noticc of breach to Borrowcr.(i)ali Rents received by Borrowcr shell be held by Borrower es
<br /> ;: trustec for thc benefit of Lcndcr only,to bc applicd to the sums secured by the Security Instrument;(ii)I,ender shall �
<br /> a be endde�l to collect and receive aU of the Rents of the Property; (�i) Borrower agrees that each tenant of the
<br /> Properly shall pay aU Rents due and anpaid to I.ender or Lender's agents upon Lender's wriuen demand to the �
<br /> � .� tenant; (iv) unless applicable law provides otherwise,aU Rents collected by Lender or L.ender's agenu shall be
<br /> applled first to the costs of teking cantrol of and managing the Property and collecting the Rents,including,but not '
<br /> Wnited to,aunmeys' fees,recciver's fees,premiums on receiver's bonds,repair and maintenance cosis, insurance ��,�,Y
<br /> � prcmiums, taxcs, asscssments and other charges on thc Property,and then to the sums sccured by the Security
<br /> �• Insuument;(v)I.ender,Lender's agents or any judicially appointed receiver shall be liable w account for only those
<br /> �� Rents actually received; and(vi) I.ender sheU be en6tled to have a recelver appointed to take posses.cion of and -
<br /> manege the Property and wUect the Rcnts and profits derived from the Property without any showing as to the
<br />_-- inadecluacy af the Property as seciuity.
<br /> i'� If ihe Rents of thc Properiy are not sufficIcnt to covcr the costs of taking conuol of and managing the
<br /> �, Property end of coAecting the Rents any funds expended by Lender for such puqsoses shall become indebtedness of
<br /> � Borrower to Lender secured by the Se�urity Insuument pursuant to Un�form Covenant 7.
<br /> , � Borrower rcpresents and warrants ihaL Borrower has not executed any prior as,4ignment of the Rcnts end has
<br /> not and wIll not perform any act that would prevent Lcnder from exercisIng its rights under this paragraph.
<br /> L.cnder,or L.ender's agenis or a judicially appointed rexciver,shell not be required to entcr upon,take control
<br /> of or maintain Ihe Property before or after giving noace of default to Borrowcr. Howcver,Lender,or Lender's
<br /> - agents or a judicfalty appointed receiver,may do so at any dme when a default occurs.Any applicadon of Rents �
<br /> shsill not cure or waive any default a Invalidate any ather right or remedy of l.ender.'Itiis assignment of Rents of
<br /> the Properly shaU terminate when all ihe sums secured by the Security Instrument ere paid in full.
<br /> I.CROSS•DEFAULT PROVISION. Borrowcr's default or brcach under any note or agrcement In
<br /> which Lendcr has an interest shall be a breach under the Saurity Insdumcnt and Lender may invoke any of the =
<br /> ?� remedies permiued by thc Securiry Instrument r....
<br /> BY SIGNING B�LOW,Borrower accepts and agrees W the terms and provisions contained in this 1-4 Family -
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<br /> �Y DOUG M WESTER$Y ( , VICTORIA WESTERBY (s�, �"--
<br /> -Borrowcr -Borrowcr
<br /> (SC�) ($�� �'�x��r�:".
<br /> ' -8orrowcr •Borrower —
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<br /> For�f 917�3193 "';;N`--
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