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<br /> : G.A33IGNMENT OF L�ASES. LJpon I.cndcr's request,Borrower stiaU assign to Lender eU lcas�s of thc �
<br /> ,,,a,,,�+� prop�rty and a11 security deposits mede in connecdon with leases of the Property. Upon the assignment,Lendu —:
<br /> shall have the right to mod�fy,excend or terminate thc cxisting leases and ta execute new leases,ir� L.ender's sole �,"
<br /> � discredon.As used in this ParaBraPh a� the word '7ease" shall mcan"sublease" if the Security Instrument is on a �--
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<br /> ., �: leasch�ld. "��`
<br /> '�. H. AS3IGNMENT OF REN'�S; APFUINTMENT OF RECEIVER; LENDER IN POSS�SSION. 4�'-
<br /> Borrower absolutely and uncondidonally assl8ns and transfers w L.ender aU the rents and revenues("Rents")of thc �
<br /> � propeny,regacdlcss of to whom the Rents of the Property are payable.Borrower suthorfzes I.ender or L.ender's �=
<br /> �� agents to coUect the Rents,er.d agees tha►e�ch tenant of the Property shall pay the Rents w LenQer or I.ender's �•�-
<br /> agents.However,Boaower shall receive the Rents until(i)Lender hag gtven Borrower nodce of default pnrsuant to "_
<br /> ' � '�` paragraph 21 of the Security Instrument and (ii) Y.ender has given nodce to the tenant(s) that the Rents are to be �„
<br /> . paid to L.ender or Lender's e8en� 11i�s esslBnmcnt of Rents conafltutes an absolute assignment and not an
<br /> " assignment for additional secudty only.
<br />` �: If Lender g[ves nodce of breach w Boaower.(i)all Rents received by Borcower shall be held by Bormwer as �L�
<br /> uustee for the benefit of I.ender only,w be applied co the swns secured by the Se�urity Insuument;(ii)I.ender shall �
<br /> be end@ed to collect and roceive all of the Rcnts of the Property; (iii) Botrower agrees that each tenent o� the
<br />' ,��',. Property shall pay all Rents due and unpaid w I.ender or I.ender's agents upon L.ender's wrttten demand to the
<br /> � t�nenr (iv) unless applicable law provides otherwise,all Rents caUected by�.ender or Lender's agents shall be _
<br />,, applied first to the costs of takin8 canuol of and managing the Property and collecdng the Rents,including.but not
<br /> IU►�ited eo,auorneys' fees,receiver's fees,Premlums on receiver's bonds.repair and maintenance costs,insurance
<br /> � premiums,Wxes.essessments and other charg�s on the Froperty,and then w the sums securecl by the Securiry
<br /> Instrument;(v)Lender,Lender's aBents or any judicielly appolnted receiver shaU be liable to sccounc for only those
<br />- R���qi�y �;�ed;and(vi) L,ender shall be entitled to have a receiver appointed to take possession of and
<br /> manage the Property and collect the Rents and profits derived fcom iha Fn�j;r.�ty wiiliout a�zy shawutig a�ta she
<br /> ' inadequacy of the Property es se�urity.
<br /> " � ` If the Rents of the Propercy an not sufficient to cover the costs of tskir►g wntrol of end managing t6e
<br />: property and of collecdng the Rents any fonds expended by I.ender for such purposes shall become indebtedness of
<br />' Borrower to L.ender seeuced bY the Securlry Ins�ument pursua�►t to Uniform Covenent 7.
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<br /> Boaower represents and wnrrants that Borrower has not executad any prIor assignment of ihe Rents and has
<br />��`•`�` � not and wlll not perform any ect that would prevent I.ender from exercising Its dghts under this paragraph.
<br /> L.ender,or Lender's agents or a judicially appointed recclver,shall not be required to enter upon,teke control
<br />-' ' � of or maintain the Propercy before or after giving notice of default to Borrower. Howcver, I.ender,or Lendu's
<br /> agents or a judIcially appointed receiver,may do so at any dme when a default occurs. Any appllcation of Rents
<br /> ��F : : ., shall not curc or waive any defeult or invelidat�any other right or remedy of L.ender.This asstgnment of Rents of
<br /> ,, ,,:r �e prap�t�,Shall terminate when all the sums secured by the Securlty Insuument are paid in full.
<br /> y }° � �•°�± I.CROSS•DEFAULT PROVISION. Borrower's default or breach under any note or agreement In
<br /> ' ' . which L.ender has an ineerest shall be a breach undet the Security Instrument and Lender may invoke any of the
<br /> • �' remedies permitud by the Security InsirumcnG --
<br /> . BY SIGNIIVG BELOW,Borrower accepts and agrees to the terms and provisions contalned LZ this 1-4 Family
<br /> Rtder.
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<br />' , - r �' (Seal) _ ��T (Seal) -
<br /> "' ' CHELSA A BARRY •Borrower
<br />— . JEROME BARRY •Bortower
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<br /> � (SCeI) _ (SeBI) -
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<br /> " •Boaowcr •Borrowcr
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<br /> � . �•57 10304�.01
<br /> Pap•2 0+2 Form 9170�103 �'
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