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<br /> ` . _°:'`: � G.ASSIGNtVI�NT OF LEASES. U n I.ender's r -- - '
<br /> po equest,Horrower shall assign m I.e�nder all teases of the
<br /> — - -- Proputy and all security deposits made in connection wirh ieases of the Property.Upon the assignu►ent,Lender -:---
<br /> shall have the right w acadify,entercd or terminaie the existing leases and tn eaecuts new Ieases,in Leader's sale "`, • .
<br /> • . discretion. As ased in sLis pamgraph G,the ward"lease"shaI!mean°sublease"if the Serauity Insuumeat is an a ,
<br /> - • � Ieasehotd. -:
<br /> ` ' " H. ASSIGNMENT OF RENTS, APPOIIVTMENT OF RECEIVER; LENDER I1V POSSESSION. .- ' • ;•i ,.:
<br /> � � .`: • Bormwer absolu and anconditio � . °:r
<br /> teh+ nariY assigns and tranSfers tfl Lender all We rents and revenues("Rents")of the s..
<br /> �`• , ` , i Property, regasdless of to arhom the R�ts of the Property are paya6le.Bosmwer auWorizes I.�der or Lender's ; ' : :`L:�
<br />- � -� ` agents w collect the Rents,and agrees that each tenant of the Prop�ty shail pay the Rents to Lender or I.ender's . �': � -�--�,."
<br /> ' �:• { agents.However,Bnsrower shall receive the Rents nnn'I(i)L.ender has givea Barrower notice of defavlt gursuant ta �•.,;�;_,�,:�"�•`-'
<br /> � . ... � ParngtaDb 21 of the Security Instrvment and(u)Leader 6ag givea notice to the tenaat(s)that the Reats are w be • ... �--"
<br /> . , , � paid w Lender ar L.ender's agent ZUis a�ignmemt of Rent� consEitutes an a6solu� assignment and Rot an F �
<br /> �, _ .Y �� assignment for addi6onal seauity oNY• ,�-.
<br /> �'�� If Lender gives noiice of breach to Bonowea:(i)all Rents received by Ba:rower shall 6e 6etd by Bomawe,r as - � - -
<br /> . � • • lnutee for the benefit of Leaclea only,tn be applied to the sums secured by the Seauity Insuumenfi(n�i.ender shall , . _
<br /> . . be endded w callect and re�;eive all af the Reats of the Property; tiii) Borrower ag�ees that each te�ant of the .,..-. ` _
<br /> � � Property shall pay all Renu due and anpaid to Lender or Lender's ageuts upon Lender's writre�►demand m the �. :, �;:�
<br /> � �.;�. tcnant; (iv) unless applicable law provides otherwise.atl Rents coIIeaed by Lendea or I,ender's agents shall be • '!: .. :-�r=_
<br /> � .. applied first to the cosls of talang control of and mana�g the Property and collecting the Rents.includiag.bat not ` , `�`' :�- -
<br /> `;
<br /> limited to,attome}rs'fees,received's fees,premiums on receivea's bonds,repair and maintenauce cosGS,insurance .��`,�-.'�``
<br /> - premiums, taxes.assessments and other charges on the Property,and then w the sums sec�red by the Securiry -
<br /> _ � Instrument;(v)l.end�,L.eader's agents or any ju�ciatly appointed receiver sball be liable m account for onty those -
<br /> - � ° .- Rents actually received; and(vi7 Lendea shall be enutle@ to have a receivcr appointed w takc possession of and _
<br /> ., manage the°ropeaty and coltect the Rents and pmfits derived&om the Property without aay showing as w�e � _
<br /> •";:,� inadequacy of the Property ac security. --
<br /> , � If the Rents of the Prap�ty aze not sufficient w cove.r the costs of taking control of and uianaging t6e
<br /> ' '; Propaty and of collecting the Rents any funds e�cpended by Lcnder for such purposes shall become indebtedness of '�= � �•�
<br /> . , Borrower w Lender secured by the Security Inson�ment putsuant w Uniform Cove�ant 7. . '�=--
<br /> ..�_
<br /> � . ` '•f Borrower represents aud warranis that Borrower has not executed any priot assignm�t of she Rents and has -
<br /> ' . :�t:; not and w�l not perform any act that would prevent Lender from eateisis�ing its rights ander this yaragraph. • `-'-"
<br /> in `-�n
<br /> ' ,I Lender,or I.endea's agents or a judiciallY apPointed receiver,shall not 6e reqnired to enter upon.take conuol .'"�.�'�
<br /> of or maintain the Property before os after giving nodce of default to Borrower. However,Lender,or Lender's � '=-
<br /> � . � � � �.j 14 agenu or a judicially appointed receivg,may do so at any time whcn a defauIt occurs.Any application of Rents ` . �:.
<br /> , . :';�j shall not cnre or waive any defanIt or invalidate any othe.r right ar remedy of I.ender.l�is assignment of Rents of
<br /> • ` the Pmperty shall terminate when all the sums secured by the Sec�aity Inswment are paid in full. � .:;�`�,.:
<br /> I.CROSS-DEFAULT PROVISION. Bomnwer'a default or breach under any note or agreement in . � j�
<br /> �' • ' +`� which Lptder has an interest shall be a breach uader the Security Insuument and Lender may invoke any of the . �"�-�
<br /> � rcmcdies permitted by the Secwity Inswment . ',,>''
<br /> , . ' , ` . BY SIGNING BELAW.Borrower accepts and agrees to fhe tcrms and pravisions contained in this I�Family � .
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<br /> • RODNEY A -Bonower TAM}1RA R TIMMERMAN .Botrower •
<br /> � (Seaj) (SCeI) , � .
<br /> � � . -Boaower -Borrowcr 1',:; ' ,5
<br /> , �•57 tsaoa�.o+ Papo 2 ot 2 Fotm 9170 8/93 "
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