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<br />of Rents constitutes a perfected, absolute and present assignment. Lender grants to Borrower a license to collect, but not prior
<br />to accrual, and retain the Rents; however, upon the occurrence and during the continuance of an event of Default, Borrower's
<br />license to collect and retain the Rents will immediately terminate. Under this license, Borrower will receive the Rents until (i)
<br />Lender has given Borrower notice of Default pursuant to Section 26, and (ii) Lender has given notice to the Tenant that the
<br />Rents are to be paid to Lender. This Section 10 constitutes an absolute assignment and not an assignment for additional security
<br />only.
<br />(b) Notice of Default. If Lender gives notice of Default to Borrower, all of the following will apply, unless prohibited
<br />by Applicable Law: (i) all Rents received by Borrower must be held by Borrower as trustee for the benefit of Lender only, to be
<br />applied to the sums secured by the Security Instrument; (ii) Lender will be entitled to collect and receive all of the Rents; (iii)
<br />Borrower agrees to instruct each Tenant that Tenant is to pay all Rents due and unpaid to Lender upon Lender's written demand
<br />to the Tenant; (iv) Borrower will ensure that each Tenant pays all Rents due to Lender and will take whatever action is
<br />necessary to collect such Rents if not paid to Lender; (v) unless Applicable Law provides otherwise, all Rents collected by
<br />Lender will be applied first to the costs of taking control of and managing the Property and collecting the Rents, including, but
<br />not limited to, reasonable attorneys' fees and costs, receiver's fees, premiums on receiver's bonds, repair and maintenance costs,
<br />insurance premiums, taxes, assessments, and other charges on the Property, and then to any other sums secured by this Security
<br />Instrument; (vi) Lender, or any judicially appointed receiver, will be liable to account for only those Rents actually received;
<br />and (vii) Lender will be entitled to have a receiver appointed to take possession of and manage the Property and collect the
<br />Rents and profits derived from the Property without any showing as to the inadequacy of the Property as security.
<br />(c) Funds Paid by Lender. If the Rents are not sufficient to cover the costs of taking control of and managing the
<br />Property and of collecting the Rents, any funds paid by Lender for such purposes will become indebtedness of Borrower to
<br />Lender secured by this Security Instrument pursuant to Section 9.
<br />(d) Limitation on Collection of Rents. Borrower may not collect any of the Rents more than one month in advance
<br />of the time when the Rents become due, except for security or similar deposits.
<br />(e) No Other Assignment of Rents. Borrower represents, warrants, covenants, and agrees that Borrower has not
<br />signed any prior assignment of the Rents, will not make any further assignment of the Rents, and has not performed, and will
<br />not perforn, any act that could prevent Lender from exercising its rights under this Security Instrument.
<br />(f) Control and Maintenance of the Property. Unless required by Applicable Law, Lender, or a receiver appointed
<br />under Applicable Law, is not obligated to enter upon, take control of, or maintain the Property before or after giving notice of
<br />Default to Borrower. However, Lender, or a receiver appointed under Applicable Law, may do so at any time when Borrower
<br />is in Default, subject to Applicable Law.
<br />(g) Additional Provisions. Any application of the Rents will not cure or waive any Default or invalidate any other
<br />right or remedy of Lender. This Section 10 does not relieve Borrower of Borrower's obligations under Section 6.
<br />This Section 10 will terminate when all the sums secured by this Security Instrument are paid in full.
<br />11. Mortgage Insurance.
<br />(a) Payment of Premiums; Substitution of Policy; Loss Reserve; Protection of Lender. If Lender required
<br />Mortgage Insurance as a condition of making the Loan, Borrower will pay the premiums required to maintain the Mortgage
<br />Insurance in effect. If Borrower was required to make separately designated payments toward the premiums for Mortgage
<br />Insurance, and (i) the Mortgage Insurance coverage required by Lender ceases for any reason to be available from the mortgage
<br />insurer that previously provided such insurance, or (ii) Lender determines in its sole discretion that such mortgage insurer is no
<br />longer eligible to provide the Mortgage Insurance coverage required by Lender, Borrower will pay the premiums required to
<br />obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the
<br />cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender.
<br />If substantially equivalent Mortgage Insurance coverage is not available, Borrower will continue to pay to Lender the
<br />amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will
<br />accept, use, and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve will be
<br />non-refundable, even when the Loan is paid in full, and Lender will not be required to pay Borrower any interest or earnings on
<br />such loss reserve, unless required by Applicable Law.
<br />Lender will no longer require Ioss reserve payments if Mortgage Insurance coverage (in the amount and for the period
<br />CALIFORNIA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3005 07/2021
<br />CALIFORNIA DEED OF TRUST (SIDOT.CA)
<br />25283.8 (11/22) Page 9 of 17 BANK OF AMERICA, N.A.
<br />*1024466473616404000*
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