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Home My WebLink About0962 ~ i-~ F~I~,Y ~~t~ni~~ 31/1582 PSI ; A.~m~nt of R,e~cs ~ ~ : t THIS I-4 FAMILY RIDER is made this x9~H day of pCTp BE • 19 $K ~ and is incorporated into and shall be deemed to amend and supplement the Mortgage, De~of Trust or Security Deed (the "Security Instrument") of th~ same date given by the undersigned (the "Borrower") to secure Borrower's Note to ~DV FINANCIAL ~ORpORATIOI~ (the "Lendei') of e same date and covenng the property escribed in the Security Instrument and located at: 2396 S.E. GIT,LETTE AVENU~, PORT ST. LUCIE, fiL 33452 (Property Addres5l ; 1~ ~AMILY COVENANTS. ln addition to the rovenants and agreements madc in the Security Instrument, Borrower ` an,d Lender furtl~er covenant and agree as follows: i ! A. USE OF P'ROPERTY; COMPLIANCE WITH LAW. Borrower shall nat seek, agree to or make a change in the j use of the Property or its zoning classiftcation, unless Lender has agreed in writing to the change. Borrower shall comply ~ with all laws, ordinances, regulations and requirements of any govemmental ~ody applicable to the Property. _ ~ B. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not ullow any lien inferior to the ~ ~ Security Inswment to be pecfected against the Properiy without Lender's prior written permission. a C. RENT I.OSS INSURANCE, Borrower shall maintain insurance against ren! loss in addition to the other hazards i for which insurance is required by Uniform Covenant 5. i j D. °'BOfiROWER'S RIGHT TO itEI1~i5TATE" DELETED. Uniform Covenant t8 is cieleted. ~ E. ASSIGt~i`11RENT OF LEASES. Upan Lender's request, Borrower shall assign to Lender a!1 ieases of the Property ti and all security deposits made in connectian with leases of the Propeny. Upon the assignment, I,ender shall have the ~ j right to modify, extend or terminate the existing leases and to execute new leases, in Lender's sote discretion. As used in ~ this paragraph E, the wotd "lease" shal! mean "sublease" if the Security Instrument is on a leasehold. ~ F. A~IGNiliENT O'F REI~'I'S. Borrawer unconditionally assigns and transfers to Lender all the rents and revenucs ~ of the Property. Borrower authorizes I.ender or Lender's agents to co[tect the rents and revenues and hereby directs each ~ tenant af the Property to pay the rents to Lender or I.ender's agents. However, p~rior to l,ender's Notice to Borrower of ~ Borrower's breach of any covenant or agreement in the S~curity lnstrument, Horeower shall collect and receive a!i rents ~ and revenues of the Properfy as trustee for the benefit of I.ender and Borrower. This assignment of rents constitutes an absolute assignment and Rot an assignrneni fo: addi~ional security only. ~ If Lender gives notice of breach to Borrower: {i) all ren~s received by Borrower shall be held by Borrower as wstee € for benefit of Lender only, to be applied to the sums secured by the Securiry lnstrument; (ii) Lender shall be entided to collect and receive all of the rents of the Property; and (iii) each tenant of the Property shall pay all rents due and unpaid to Lendcr or Lender's agent on l.cnder's written demand to the tenant. ~ c; Borrower has not executed any prior assignment of the rents and has not and witt not perform any act that would ~ prevent, I.ender fram exercising its rights under this paragraph F. ~ Lender shall not be r~equi~+ec! to ertter upon, take control of or maintain the Property before or after giving notice of ~ breach to Borrower. However, Lender ar a judici~lly appointsd receiver may do so at any time there is a breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of l.ender. This assign- ment of rents of the Property shall terminate when the debt secured by the Security [nswment is paid in full. ~ _ G. CROSS-LDEFAULT PR~VISION. Borrower's default or breach under any note ar agreement in which L,ender has an inter~est sha!! be a breach under the Security Instrument and Le7der may invoke any of the remedies permitted by the _ Security InsWment. i~ I~ BY S1GN(NG BELOW, Borrower accepts and agrees to the tecros an~ provisions contained in this 1-4 Family Rid~r. ~ - t~) ALFO D Nl . SHAW •eorrt~w~ar v ~ , . ~ ~ (Seal) ~ , ARIEL A. SHAW .go„~, ~ ~ (s~1) (Seal) •Borrower '~9~~€~~~. '86 NOV 26 P 1 ;p6 ; ~ RUGEi~ Fr~~ • ST. tUC(;; ~ ~~~r ~ lAULTISTATE 1-4 FAAtIIY RlDER - Fannl• Ni~elFrsdQle M~c UnttotFn Instr~m~tt Fo~ 31T0 40~i ~~0522 PA6~09S9 ~-57 VMYMORTpAGE FORMS • 13131 782-47p0 •~~p~ 621J281