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<br /> � , �-. --- 4.ASSIGNMENT OF LEASES. Upon Lendsx's request.BaRmwea sha11 assign w Lender all teases of the • .��'`rt �.��..
<br /> �.�: - -
<br /> :,. -- Property and all seciuity deposits maQe in conncxaoA wiW leases of�Le Pmperty.Upon the atvgameut.Leader -_F
<br /> - s6all 6ave the rig�t m modify,extend or teimi�atc the existacg tea�es and to exe�new ieases,in Ixnde�'s sate ..
<br /> _ • ' � discretifla As used'm tlus Qa:agraph G,the word"lwse"s�all mean"subiease"if the Sec�uity Insunment is on a `4; �`•• <-:: ,;
<br /> � Ieasebold. .
<br /> ;;;. ': "' H. ASSIGNMEPiT OF RENT3: APPOINTNIENT OF RECEIVER. I.ENDE� IIV POSSESSION. � ,.
<br /> _ �_ Bosmwer absolntety and�mcandirionally assigns and uaasfecs tn I.eader all the c�rs aad revennes("R�ats'�of the ._
<br /> y, Finperty,ieg�dt�sg of ta whom the Reats of the Propaty are payable.Borrower m¢thor'rzes Lender or Lx,ader's .:'�_,.�:`��...�
<br />- � - agea�ts to ooflect We Rea�is.aad ag�es that eac6 t�ant of dce Rnpeny sball pay the Remts tn Le,nder ar Lender's ; -y:-
<br /> ' ' • agwts.However,Botrower shall receive the Rents mw7(�Leader has give,n Boirower notice of defautt pursuani tfl ',� ,�.��
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<br /> ` , ,. _ - paragrapt�21 of the Seauity�ant and(n�I.ender has given uotice tfl ths tenant(s)that the Rents are to be ";J.. : � __
<br /> ` ` paid w Leadca or I.eader's agent 'Itis assigi�ment of Rents constiwies an a6solute assignmeat aad not an F-. ,• .
<br />_ . � ,z�:�:
<br /> assigumeat for a�►�tirim,a��ty a�y, �
<br />-� _ If Lender gives aotice of bseach m Bo:mwer.(�aU Reats received hy Bmmwea shall 6e held by Boimwer as _ . ; _
<br />- - : � �• .� .. nustee for the benefit of Lead�onty,ro 6e applied w the sums seaued by the Sec�rit�+Insltumea�Ca�I�adrr shaU . ,�_�
<br /> _ ' be entitled w caltect and receive aU of the Reuts of the Propeaty: fin�Bormwer agrees that eacb teaant of the :�ti�_.-=-_
<br />,,�;,. � . ��•f,-, Pmperty shatl pay all Re.nts due and impaid to Leader or Lender's ageuts apon Leudes's watten demand tn the -" -� "`'`
<br />- � ' tenant;(iv)anZess applicable law prnvides otheaa+ise.all Rents coUecxed by Le�der or Lender's agents sdall be • ;. "
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<br /> '� ' '`� applied fust tn the costs of taking coaaol of and managing the Property and collecaug the Renis.mciud'mg.but uot ` •'� � ---
<br /> F .'.:�7• , , ,� a: ,,...�..:.�
<br /> limited to,attomeys fees,receiver s fces,pr�iums on receivea's bonds.sepaa�d mainteaauce costs,inswaace
<br /> s:' ` g�niums,t�es,assess�ne,nts and other cbarges on the Property,aud then to the smns secm�ed by the Seavrity - _.
<br /> � • Iastrumea�(v)Lea�der,Leadra's agea�ts or anY lndiciallY appoiated receiver s6aU be liable w account for only those ;y� - - -
<br /> � • :`�� Rents acmaliy received;and(vi�Leader shall be entitled w have a receiver appointed to qke possession of aad � ;.`:�.
<br /> . • . :� manage the Pmperty and coIIect the R�aad pmfits derivved from the Ptvp�ty withoat any showmg as to the ;�:,:'-=„_
<br /> ;; .� �.'! inadeqnacy of the Praperty as seciuity. _.
<br /> _ . . . If the Rents of tha Prapedty are ant safficiea�t to cover the costs of taI�ng wntroi of and rnanagiug the ��': �--
<br /> - � ' � Pmpeny and of coltecdng the Rents�y fmids espeaded by Lendra fnr such piupos�s shall become indebtedness of . . , . _
<br /> � � ' �' Borrowea w Lendea se�ued by tbe Secariry Instrument puzsuant w Uaifoan Covenant 7. • __
<br />_ � Bormwer represents and wananis that Borrower has not ea�ecated m�y prior assrgnment of the Reats and has - � . '°°
<br /> - , �. not�d w�l nat perform anY act that aroWd prevent Lender fcom eaencis3ng its rights under t6is paiagraph. -. . -, ;^��.
<br /> -- - - .---_ - � I.ender.or Lender's age�ts or a jadicialtY appomoed receiver,shail not be�eqused to enta upon,take conuol `�' .. ..-
<br /> � of or maintain the Fmperty 6efore or after giving norice of defautt to Boimwer. Howevea.Lender.or l.ender's . . � ,�_�
<br /> • ' � agents or a judicialty appointed receiver,may da so at any tune when a default occurs.riny application of Rents . • =-�•
<br /> �'° .. ` • shall not cure or waive any defa�it or invalidate any oth�r right or remedy of Lende�.'I7�is assigcunent of Rcnis of �- ;_�•`'�
<br /> - , the Property s1�all tecminate when all the sums secured by the Seciuity Insu�ment are paid'm full. '.,..� ,. �'.`
<br />`;.;, •• . �. I.CROSS-DEFAULT PROVISION. Bmrower's defauIt os breach nnder any note or agreement � � i^ � . �`��_.
<br /> _ . . . .. "� whicb Lender t�as an inteaest s6all be a breach undeJ the Serauity Instrument and Lender may invoke any of the :. •
<br /> � '� remedies pecmiued by the Sec�rity Insuument . _ --
<br /> .... , BY SIGNING BBAW,Borrowea accepts and agees w the tenns and provisions contained'm this 1-4 Family _
<br /> ?,•' ' :.�. Rider. � - :...• . •. ..
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<br /> � . . (seal) �C ��.- ,�.C�l.�.�� - rseat) ....
<br /> . WILLIAM J LA ON -Borrowar M7\RCZA J LA4JTOD'l� � -$c-rowet „ .
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<br /> ' . • -Bortoaer •Boaower : � ' •
<br /> � , �•57 (930a).Ot Papa2of 2 Form 8t708J33i . .. : .
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