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<br /> 98- �lti1�34 � : :,��.:.1.
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<br /> �,�w.,r.e G.ASSIGNMENT OF L�ASES. U n L.cndcr's r ucst, Borrowcr shall assi n to Lendcr all lcases of thc �'�`'` �-
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<br /> . ,.. ..• Property and all security deposlts made in connecdon with leases of the Propecty. Upon the assignment,Lender �,.,;����
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<br /> shall have thc dghtto modify,cxtcnd or tcrminate thc existing lcase.s and tn exccutc new leascs. in Lendcr s solc �Qr,_l6,�._
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<br /> discrction. As used in this peragraph Ci,the word"lcase"shuU mean "sublease"if thc Scxurity Insuumcnt is on a .
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<br /> leaschold. '�`a=_ ---
<br /> H. ASSIGNMENT OF R�NTS{ APPUINTMENT UF RECEIVER; LENDER IN POSSESSION.
<br /> Borrower absoluteh and uncondidonally assigns and transfers to Lender sU tho rents and revenucs("Rents")of thc -•`��
<br /> Property,regardlen of to whom ihe Rents of the Property are payablc.Borrower authorizes Lcnder or L.cnder's -`=:Y`,�
<br /> agents to collect the Rents,and agrees that each tenant of the Property shall pay the Rents t,o I.ender or Lender's ;�";-'�`
<br /> agents.However,Borrower shell receive the Rents until(i)Lender has given Boaower nodce of default pursuant to =__.__._
<br /> � paragraph 21 of Ihe SecurIty Instrument and(ii)Lender has given nodce to the tenent(s)ihat the Rents are to Ue -_°'-
<br /> paid to Lender or L.ender's agenl. 'il►is assignment of Rcnts consdt�tes an absolute assignment and not sur __ -
<br /> assignment for addirional securlty only. _'-�--�__
<br /> If Lender givav nodce of breach to Borrower.(i)all Renu received by Bo�rower shziil be held by Boaower as -_—_
<br /> trustee for trie benefit of I.ender only,to be applied to the sums secured by the Security Inswrnent;(ii)L.ender shall ,'`'�°.-
<br /> be enaded to collxt and receive all of the Rents of the Property; (iii) Borrower agrees that each tenant of the
<br /> Property shall pay all Rents due and unpaid to I,ender or Lcnder's agents upon Lender's written demand w the ==_=--
<br /> tenent; (iv) unless eppUcable law provides otherwise,all Rents collected by Lender or Lender's agents shall be •�
<br /> � • applied fust w tho costs of taking control of and managing the Property and coAecdng ihe Rents,including,but not _
<br /> � ILnited to,attomeye' fees,receiver's fees.premiums on receiver's bonds,repair and maintenance costs,insurance
<br /> � premiums, taxes,assessments and other charges on the Property,and then to thc sums secured by the Securlty -__
<br /> Insuument;(v)Lend�r,Le.nder's agents o�any judicially appointed receiver shall be liable to account for only those
<br /> _ . � Fents actuatly r�..c�v:.d;and(vi)Lcndrx �hs2! be entided ta hs�e s r�ivrs apgoinies� !e t�e p�ssrssfon of en� -
<br /> manage the Prope�ty and coAect the Rents and profits derivcd from the Property without any showing as to the
<br /> fnadequacy of the Property as security.
<br /> If the Rents of the Property are not sufficIent to cover the costs of taking conuol of and managing the
<br /> Property and of collecdng the Rents any fiutcis expended by L.ender For such purposes shall become lndebtedness of
<br /> Borrowcr to I.endu scxured by thc Security Instrument pursuant W Uniform Covenant 7.
<br /> Boirower represents and warrants that Borrower has not executed any prior s�.ssignrnent of the Rents and has .
<br /> not end will not paFoan any act that would prevent Lender from exercising its rights under Ihis paragraph.
<br /> I.ender,or Lender's agents or a judicielly appointed receiver,shall not be required W enter upon,take control
<br /> of or maintain the Prope�ty before or eftcr giving noace of default to Borrower. However�I.cnder. or L.ender's -
<br /> agents or a judiciaUy appointed receiver, may do so at any time when a default occius. My application of Rents
<br /> � • shall not cure or waive any default or Invalidatc any ather right ar remedy of Lender.Tt�is assignment of Rcnts of c���
<br /> the Pro shall krminate when ail the sums secured b the Soc�ui Instrument arc aid in fuU. `
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<br /> I.CROSS-DEFAULT PROVISION. Bonowcr's default or brcach undcr any note or agreement in
<br /> which Lender has an interest shall be a breach under the Securiry Instrument and Lender may invoke any of the �
<br /> remedies permittcdby the Security InstrumenG -=
<br /> BY SIGMN6 SELOW,Bonower accepts and agrees to the terms and provisions contained in this 1�4 Family t:�Y--
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<br /> ' (Scal) (Seal) �`�"-
<br /> TYL R SA •$ortowcr ETTE K SAPP •$ottower
<br /> ($cal) (SCeI) :,-
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<br /> -Borrowcr -Borrowcr �p;�'�_:-
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<br /> �-67 tsso�i.o i Pap•2 0+2 Form 3170 3/03 •-
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