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<br /> # G.ASSIGNMENT OF LEASES. Upon Lender's request, Bocrower shall assign w Lender all leaSes of the . -
<br /> : � Property and sU seciuiry deposits made in conncction with leases of the Property.Upon the assignment,Lender _
<br /> "� � shall havc the right to modify,extend or terminate the exisdng lcases and to execute new leases,in L.ender's sole <-
<br /> �� � �� d�scretion. As used in this para8raph[�.the word"leas�" shall mean "sublrase" if the Security Instrument is on a ' '°-`
<br /> Icasehold. " _
<br /> � I�. ASSItiNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. _
<br /> ' Borrower absolnuly end uncondidonelly assigns and transfers to Lender ell the i�ents and revenues("Rents")of the '
<br /> � Properiy,�regardless of w whom the Rents of the Propetty are payablc. IIorrower authorizcs Lender or Lender's �,� -
<br /> � agents W capect the Rents,and agrees that each tenant of the Property shall pay the Rents to Lc:nder or Lender's � ��.�:
<br /> . agents.However,Borrower shall receive the Renta until(i)Lender hes given Borrower nodce of default pursuant to .� , _
<br /> � �, paragraph 21 of the Securlry Instrument and(ii)Lender has given notice w the tenant(s)that the Renu sre to be : ,, ;
<br /> . . � paid to Lender or Lender's agen� 'It�is assdgnment of Rents constitutes an absolute assignment and not an ",:,-t�;�
<br /> • ?' assianment for additional securlry only. �
<br /> ' If I.ender gives nodce of breach to Borrower:(i)all Rents received by Borrower shall bs held by Borrower as .
<br /> uustee for the benefit of Lender only,to be applled to the sums secumd by the Securiry Instnunent;(ii)I..ender shall _
<br /> � be entided to copect and receive all of the Rents of the Property;(iii) Borrower agrees that each tenant of the j:x,~` `
<br /> ,�. Property s�aU pay all Rcnts due and unpaid tw Lender or Lcader's egents upon I.ender's wrltten de�nan�to the • _ __
<br /> teaen� (tv) unless appHcable law provides atherwise,a11 Rents collected by Lender or Lender's agents shall be _
<br /> applied fust to the costa of taking control of and managing the Property and collecpng the Rents,includtng.but not __
<br /> " Wniced w, attomeys' fees,recetver's fees,premtiuns on receiver's bonds,repair and rnaintenance costs,ins�rance -__
<br /> prem;ums� te�cey,assessments and other charges on the Property,end then to the sums secured by the Security �
<br /> Instrument;(v)I.ender,L.ender's agents or any judicially appointed receiver shall be liable w account far only those
<br /> Rents ocpially received; snd (vi) Lender shell be endtled to have a receivea appointed to take possession of and �_
<br />- -� --- - �ltttaui an��t:oWinQ s ��he '_
<br /> manage the i•mpeny and coueci ihe iccnia iu�u p,.,ftt,d�;ivc,3 fmtrs ihc:'ro,�zt��.. , o ,-
<br /> inadequscy of the Properry as securlty. :-
<br /> If the Rents of the Property are not sufficient to cover the costs of taking control of and managing the .
<br /> - '`r�� Property and of collecting the Rents eny funds expended by Lender for such pu�►oses stiull become indebte�►ess of =�-
<br /> • � Borrower W I.ender secured by the Security Instnunent pursnant W Uniform Covenant 7. ,;;�_
<br /> Barrower represeais and werrants that Borrowu hav not eaecuted eny priar assignment of the Rents and has C
<br /> y:-„ . not and will not pe�rform any act that wauld prevent L,eader from exercislr►g its rIghts ander this paragraph. .,
<br />-,.. ., • Lender,or I.endu's agents or a judicially appoinced receiver,sball not be required w enter upon,te�ce conlrol ;:
<br />�Aw:� • of or maintain the Prope�ty before or after giving noHce of default to Boaower. However�Lender�or Ler►der's -.
<br />-'{` agents or a jadici�lly appointod receivu,may do so at any dme when a default occurs.Any appllceflon of Rents =
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<br /> �;,�. � � ahall not cure or waive eny dofault or invalicliate any othu right or r�medy of Lender.This assignment of Rents of �
<br />__._ -;., ,�, tha Property shall tenninate when all the sums secured by the Sec�uity Tnstnunent are paid in full.
<br /> - ��-F"-��� I.CR05S•DEFAULT PROVISION. Borrower's default or bmach undcr any note or t�eemant in _
<br />"��{�-?� whtch Lender has an interest sl�all be a breach under thc Security Instrument and L.cnder may invoke any of the L
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<br />—_ �,�L,:. remedies permitud by the Securlty InsuumenG -�-
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<br />=::;.:.,�, .�;�. BY SIGNIIVO BELOW.Borrowet eccepts&nd egrees w the tetms and provLsions contained in this 1-4 Family __
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