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, ~ ~ 1-4 FAMILY RIDEIt ~ 14/2s33 PsL
~ ~Sig~nment of Rents
THIS 1-4 FAMII.Y R1DER is made this 11~ day of J~ ~Y , 19 9A ,
anci is incurporated into and shall ~be deemed to amend and supplement the Mortgage, Deed of Trust or Security ~ood
~the "Security Inswment") of the same date given by the undersigned (the "Bomawer") to secure 8orrower s Note ro
GDV FINANCIAL CORPORATION (the "Lender")
of the same date and covering the prnperty d~scribed in 1he Securiry Instrument and located at:
2175 S. E. HEATHWOOD CIRCLE, PORT ST. LUCIE, FL 34952
~Propeny nddress)
i-4 FAMILY COVENANTS. lrt addition to the covenants and agreements made in the Security Inswment, Borrower
and Lender further covenant and agnee as follows:
A. USE OF PROPERI'Y; COMPLIANCE WITH LAW. 8orrower shali not seek, agree to or make a change in the
use of the Property or its zoning ciassification, unless Lender has agreed in writing to the change. Borrower shall comQly
with atl laws, ondinances, regulatior~s and requir~ements of any governmenial body applicable to the Property.
B. SUBORDIlVATE LIENS. Except as permitted by fe~eral law, Borrower sfiail not allow any tien inferior to the
Security Inswment to be perCected against the R~operty without L.ender's prior wtitten petmission.
C. RENT L06S 1NSURANCE. Bomower shall maintain insurance against rent lcss in addition to the other hazards
for which insurance is required by Uniform Covenant S.
D. "BORROWER'S R1GHT TO REINSTATE" DELE'fED. Uniform Covenant 18 is deleted.
E. ASSIGNMENT OF LEASFS. Upon I.ender's request, Bornower shall assign to Lender all leases of the Property
arxi all security deposits made in connection with leases of the Property. Upon the assignment. Lender shall have the
right to modify, extend or terminate the existing leases and to execute new leases, in Lender's sole disceetion. As used in
this paragraph E, the word "lease" shap mean "sublease" if the Security Inswment is on a leasehold.
F. ASSIGIVMENT OF RENTS. Borrower unconditionally assigns and transfers to Lender all the rents and c+evenues
of the Property. Borrower authorizes L.ender or L,ender's agents to coliect the rents and revenues and hereby ditects each
tenant of the Properry to pay the r~ents to [.ender or Lender's agents. However, prior to Lender's Notice to Bocrower of
Borrower's breach of any rnvenant or agreement in the Security Inswment, Bomower shall collect and receive all rents
and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an
absolute assignment and not an assignment for additional securiry only.
If Lender gives notice of breach to Borrower: (i) alt rents received by Borrower shall be held by Borrower as wstee
for benefit of Lender oniy, to be appiied to the sums secur~ed by the Serurity lnstrument; (ii) Lender shall be entided to
coilect and receive a!1 of the rents of the Property; and (iii) each tenant of the Pr+n~erty shall pay all rents due and unpaid
to Lender or L,ender's agent on Lender's written demand ro the tenant.
Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would
prevent Lender from exercising its rights under this paragraph F.
Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice of
breach to B~mower. However, Lender or a judiciaily appointed receiver may do so at any time there is a breach. Any
application of rents shal! not cure or waive any default or invalidate any other right or remedy of Lender. This assign-
ment of rents of the Property shal! terminate when the debt secured by the Security Inswment is paid in full.
G. CROSS-DEFAULT PROVISION. Borrower's defaalt or breach under any note or agreement in which L.ender has
an interest shall be a breach under the Security Inswment and I.ender may invoke any of the remedies pem~itted by the
Securiry Insttument.
BY SIGNING BEi.OW, Borrower accepts and agrees to the terms and ~rovisions contained in this 1-4 Family Rider.
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