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4, K27 <br />and revenues of the Property as trustee for the benefit of Lender and Borrower. This <br />assignment of rents constitutes an absolute assignment and not an assignment for additional <br />security only. <br />If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by <br />Borrower as trustee for benefit of Lender only, to be applied to the sums secured by the Security <br />Instrument; (b) Lender shall be entitled to collect and receive all of the rents of the Property; and <br />(c) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent <br />on Lender's written demand to the tenant <br />Borrower has not executed any prior assignment of the rents and has not and will not perform <br />any act that would prevent Lender from exercising its rights under this Paragraph 16. <br />Lender shall not be required to enter upon, take control of or maintain the Property before or <br />after giving notice of breach to Borrower. However, Lender or a judicially appointed receiver <br />may do so at any time there is a breach. Any application of rents shall not cure or waive any <br />default or invalidate any other right or remedy of Lender. This assignment of rents of the <br />Property shall terminate when the debt secured by the Security Instrument is paid in full. <br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: <br />17. Foreclosure Procedure. If Lender requires immediate payment in full under Paragraph <br />9, Lender may invoke the power of sale and any other remedies permitted by applicable law. <br />Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this <br />paragraph 17, including, but not limited to, reasonable attorneys' fees and costs of title <br />evidence. <br />If lender invokes the power of sale, lender shall execute or cause Trustee to execute a <br />written notice of the occurrence of an event of default and of lender's election to cause <br />die Property to be sold, Trustee shall cause this notice to be recorded in each county in <br />which any part of the Property is located, lender or Trustee shall mail copies of the notice <br />as prescribed by applicable law to Borrower and to the other persons prescribed by <br />applicable law. <br />Trustee shall give public notice of sale to the persons and in the manner prescribed by <br />applicable law. After the time required by applicable law, Trustee, without demand on <br />Borrower, shall sell the Property at public auction to the highest bidder at the time and <br />place and under the terms designated in the notice of sale in one or more parcels and in <br />any order Trustee determines Trustee may postpone sale of all or any parcel of the <br />Property by public announcement at the time and place of any previously scheduled <br />sale. lender or its designee may purchase the Property at any sale. <br />Trustee shall deliver to the purchaser Trustee's deed conveying the Property without any <br />covenant or warranty, expressed or implied. The recitals in the Trustee's deed shall be <br />prima face evidence of the truth of the statements made therein. Trustee shall apply the <br />proceeds, of the sale in the following order: (a) to all expenses of the sale, including, but <br />not limited to, reasonable Trustee's and attorneys' fees; (b) to all sums secured by this <br />Security Instrument; and (c) any excess to the person or persons legally entitled to it. <br />18. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender <br />shall request Trustee to reconvey the Property and shall surrender this Security Instrument and <br />3IW2003 6 <br />