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<br /> _- _ .- 'Z5. IIV'rEM'IONAY.LY OIi91T�ED. 9�m����� _
<br /> pF LENDER IN POSSESSION. As `' �`` �` :." t
<br /> `< 4 26. ASSIGNMENT OF RENTS;APYOIIVTN�I�PI' RECIIVER+ . `.:`�
<br />:s.�' ,. . part of the considerarion for the mdebtedness evideaced by the Note. Bomowe� hereby absoiutety and
<br /> : �� • ' uncoaditinnally assigns and uansfets to lxnder all the rents and revennes of�PropertY,inciudmS dsose now _ - -
<br /> �t .' . due,past dne,or w 6ecome dne by vi�a�e of aay lease or ather agrcement for the accapancy or nse of all or any . ,
<br /> =' partgfthe Property,reg�ess of mwhom the rents and:evemies of the Properry are payable. Banower hereby , =;.,`',,
<br /> 7:` , _ authorizes Lender ar Ixader's agents to colle�t the afo�esaid renrs and reve�nnes and hezeby directs eash tenant
<br /> �,'�.�,r:.�±:
<br /> -- , . of the Property to pay such reents to Leader or Ixnder's agents:Pmvided,hawever,t1�at p of Borrmwer in this °'`:�,.
<br /> i., . � . given by I.endEr to Borrower of the breach by Borrower of aay coveaant ar agreement . : _--
<br /> -�� - • Inst�am�ntoranyothcr Loan Doct�e�,Borrowersball ooIIectaad receiveall neuts amd reveanes of the Pt+operty ,. .�: �. �� -
<br /> :.': � ' as uustee for the6eaefitof Lender and Bormwer,to applq the rents and revenues so oollecced tn the sums secwed
<br /> - � . by chis Insorameac in the order pmvided ia p�agrapfl 3 hereof with tlte balance,so long as no sach 6reach has _---
<br /> octaured,w the account of Borrower,it being intended by Borrower and I.ender that�is a�ignment of reats — E - �
<br /> F<:. ` � . .:.�' cans�an absolate assignmeat and not an assi�ment foz additional s�riry onh+• Upon delivery of written --- ` �.:�
<br /> • notice by Leadcr w Borrower of the breac8 by Boirower of a�oovenant or agreemeat of Bosmwer ia this •.��
<br /> i: . � � Instrumeat,and waho�the necessity of Leader entertng t�oa and talciag and maIIUaiaing fnll coauol of the , ,. ' _
<br /> I,�nder shall immediatelY be entitled w possession .:�:��-
<br /> r�}`, Properry in person.hY aSent or by a court appamted receivec. -
<br />�.-; of all rents and reveaues of the Properry as specified in this paragraph 26 as the same become dne aad payable. . �`' ���_
<br /> tf�1TP/ItAtPt j��� Oy . � ---�
<br /> _ � . .. .. inciuding,but not I'imited to,rents then due and uapaid,aad aU stich�ents shall' Y� �Y . . _ . '„�`�"`
<br /> I8II . � __
<br /> �:;�'� • ' such notice be held by Borrower as uustee for the benefn of I.ender oniy;PmvIded.however,that the wriuen . _
<br /> �'�' nutise by Ixuder to Borrower of the breach by Bonower shail contaia a statement that Lendes exen�ses its rights '.�. �. '._�__
<br /> , � w sucb sems. Borrower agrees that oommeacing apon delivery of s�ch wriuea notice of Bormwer's Me�ach by ' �.�
<br /> - � l.ender to Borrower.each tenant of the Pruperc3►shall make snch rents payabie to aad pay sach reats to I.ender '",+ _
<br /> � :" .. , or L.ender's agents on Leader's written demaad to eacb tena�therefor.delivered to eacB tenant personaIIy,bY , " _
<br /> '. mail or by delivering sach demand to each rental uni�without any liab�7ity on the part of said tenant w iaquire ..�„ � �_`"-
<br /> . further as to the existeace of a default by Borrower. : -- -
<br /> .,. � ,, . -
<br /> s_�,j _�.. : - Borrower herehy covenants that Borrower has not executed aay prior assignment of said rents.that - . - _ :;.�-
<br /> , • . Bonower has not performed,and m'Il not perform,any acts or has not executed,and wiU not execute,anY •1-�--
<br /> ��;.
<br /> , m�+*+�P^t which would preveat Ixnder from exercisIag its rights under this ParagraDb Z6.and that at the time . ;;„;°
<br /> of eaecutioa of this Insaument there has beea no andcipation or prepayment of any of the rents of the Prope�ry ,�:�
<br /> � �? � for more thaa one moath prior to the due dates of such rents. Borrower covenants that Borrower wiIl not . , _.
<br /> � . � • hereafter co]lect or accept payment of any rents of the Ptoperty more thaa one month prior to the due dates of • __
<br /> :��; .. � such rents. Boaower further covenants that Bonower wUl execute and deliver to I.�der such fnrther � �_
<br />�'-' � � � assiAunents of rents aad revenues of the Property as Lender may from time to time request. ., ._
<br /> .
<br /> =.,,. � � . :, ; _:.��
<br /> . 6 L'pon Bonower's breacb of any covenant or ageement of Boaower in this Instrament,Lender shaU be i
<br /> a entided to the appommient of a receiver for the Property.without nodce w Borrower or aay other pe�sonor endry
<br /> .,.,.' � . .
<br /> � and I.ender may ia person,by agent or by a co�ut appointed receiver,regardtess oY the adequacy of Lender's .
<br /> . � ; securiry,enter upon and take and mainta9n fiill wntrol of the Property in order to perfoim all acts necessary aad � .
<br /> ' appropriate for the operation aud maintenance thereof including,but not limited to,the execution,cancellaflon :� . , �,�.�
<br /> or modifcadon of leases,the collection of all rents aad revenues of the Property,the a�akin8 of repalrs to ihe ,. , ._
<br /> .. .. ' Property and the execurion or termination of conuaas providiag for the managemeat or maintenance of the • •
<br /> � ' Property.aU on such tem�s as are deemed best io protect the securlty of this lnstrument 1n the event Lender .,
<br /> :�.., elects w seek the appointrnent of a receiver for the Property upon Bonower's breach of any wvenant or • � :
<br /> . agreement of Bnrrower ia this lnsmiment. Bonower here by express 1y consen t s w t h e ap p o i a c m e n t o f s u c h . .
<br /> � � • receiver. Lender or the receiver shall be eadtled to receive a reasonab2e fee for so managing the Property. . ,
<br /> � A11 rents and reveaues coUected subsequent to delivery of written notice by l�ender to Borrower of the : '.
<br /> breach by Boaower of aay covenant or agreement of Borrower in thi9lnstr�ment shall be appl�ed fust to the � . �
<br /> . . ! umuamaa neaa'r.+�.�c,�otw�.seceu�e�ana rum.�maa rRa•r�y:e� .
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