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<br /> C.ASSIGNMENT OF LF.A5FS. Upon I.cndcr's rcqucst,Borrowcr shaA assign to I..endcr �11 lcascs of thc . " '"�`
<br /> -� ��'' PropcRy and nll sccudty dcpasits madc in conncction with lcases of thc Propeny.Upon thc a4signmcnG ri.cndcr �;�'.:;_
<br /> '° shall have U►e right to modity, cxtcnd or tcrminute thc cxisdng lcases and ta cxecutc ncw Icasc.v, in I.cnder's solc ,•,•.;,,.�„__=_°'��
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<br /> I di.scrctian. As uscd in this parug�aph Ci,thc word"Icasc" shall mcan "sublcasc"if thc Sc�:urity Insuumcnt is on st - �--
<br /> let�schold. . •�:�--^-
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<br /> � H. ASSIGNMENT OF RENTS; APPOINTMENT OF RF.CEIVER; LENDER IN POSSFSSION. , ,`__"_ - ._ —___
<br /> ? Borrower absalutcly and unconditionally assigns and transfers to Lendcr all the rents and revenucs("Renls"1 of the •`•�:_--
<br /> } Propeny, rcgardlcss of to whom thc Rcnts af the Property are peyable. Borrower authorizcs Lendcr or Lender's __—
<br /> �� agents to coAect thc Renu,and agrccs that each tenant of the Property shall pay thc Rents to l.endcr or Lender's
<br /> • } aBents.Howcver.Barrowcr shaU rcccive the Rcnts unW(i)I.ender has givcn Sorrowcr nodce of default pursuant to =.-
<br /> ! paragraph 21 of iha Security Insirument and(ii)L.ender has given noace to the Lc:nent(s)that the Rents are w be °
<br /> � ; paid to I.ender or Lender's agent. Th�s assignment of Rents constiwtcs an absolute assignment and not an � •�k.- _
<br /> assignment for addidonel security only. �:.'���.__
<br /> ' � If Lender gives nodce of brcach to Borrower.(i)all Rents received by Boaower shall be held by Harowcr as k._�`-"
<br /> trustec for the bene8t of Lcndcr only,to bc applicd to the sums secured by the Sccurity Instrument;(ii)I.cnder shall _
<br /> be entitled to coAect and re�eive all of the Rents of the Property; (iII) Borrower agrecs that each t�nent of the �^-rt�- °~
<br /> � Praperty shaU pay all Rents due and unpaid to Lcnder or L.ender's agents upon Lcnder's written dernend w the �c��
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<br /> tcnan� (iv) unless applicable law provides otherwise, all Rents collccted by Lender or I.cnder's agenls shaU be 'ti•�=-
<br /> •� appUed flrst to the costs of taking control of and managing the Properiy and collecting the Rcnts,including,but not �'--___
<br /> limited to,attameys' fecs, rcceiver's fees,premiums on recciver's bonds,repair and maintenencc wsts,ins�uance -�`_
<br /> premiums, texes, acsessments and other charges on the Property,and then to die sums secured by ihe Security -
<br /> �" Inswment;(v)Lender.Lender's agenu or any Judicially appointed receiver shall be Uable to actount for only ihose �I -
<br /> Rents actually reccived;and (vi) Lendcr shall bc entided u�havc a rcccivcr appointed w takc possession of and �_=.
<br />-. .� manage Ihe Property and collect Ihe itents and proGis derived irom ihG Fn�y�ty withuut ar,y showi.-zg as ta thc _ -=
<br /> � inadequacy of the Pmperty as securiry. __
<br /> � If the Rents of the Property are not suf�cient to cover the costs of takir�g control of and maneging the ==.
<br /> � Property and of coAccting the Rents any funds expended by Lender for such purposes shall become Indebtedness of F��
<br /> : � Borrower to I.ender secured by the Security Insuument pursuent w Uniform Covenant 7. _ - ��-
<br /> •3 Borrower rcpresents and warrants that Borrower has not executed any prior assignment of the Rents and has _
<br /> � not and will not perform any act that wo�ld prevent Lender from exercising its rights under this paragraph,
<br /> � Lcnder,or Lcndcr's agents or a judicially appo�nted receivcr,shall not be rcquired to cnter upon, �take conlrol '
<br /> �; of or maintain the Property bcfore or after giving notice of default to Boaower. However,Lendcr, or Lendcr's _
<br /> $ agenta or a judjcially appo�nted receiver,may do so at any time when a default occurs.Any applicadon of Rents =
<br /> � � shall not curc or waivc any dcfault or invalidatc any othcr right or remedy of Lender.'Ittis assignment of Rcnts of _.
<br /> �' the Propert}+shall tcrminatc when all the sums securcd by the Security Instrument are paid in fuU. ,'�
<br /> . I.CItOSS-DEFAULT PROVISIQN. Borrowcr's default or breach under any note or agrccment in �„
<br /> which Lcnder has en interest shall bc a breach under the Sccurity Instrumcnt end Lcnder may invok�any of the ['
<br /> � remedies permitted by the Sccuriry InstrumcnG �`
<br /> BY SIGNING BELOW,Bonower accepts and agrees to the terms and provisions contai�ed in this 1�4 Family ��--
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<br /> TIMOTFiY K SJOGREN -Borrowcr KIMBERLY K S GREN •Borrowcr 'n=.�-'w_
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<br /> _ , •Bonower .��'' :;�:•-
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<br /> �a•b7 �930t1.Ot Page2o12 Form�1703/03 • ,
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