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<br /> Seotion 3.02. Coiieation Upon DoEauit. IIpon any EvenC
<br /> of De£au1C WICIBC any o£ the Loan Doauments, Requirod I.ondera
<br /> may, a� any timo wittiout notice, eiClier in poraon, by agent
<br /> or by a rocoiver appointed by a court, aad withoue regard to
<br /> Che adequacy o£ any socuritp for tho 3ocuiod o»ligations, �-
<br /> enter upon and take gossession oE Che Mortgagad Eetate, or
<br /> any paet tiheraof, aad in its own namo suo L•oe or otherwieo -
<br /> coil@at such rents, issuea and proEiL•s, intlluding ehoso past -
<br /> Be�a anct uapaid, a�xd �pplp the same, Iess aosL•e and expenses =
<br /> of og�ration and cto22ention, inolud3nq attornsys' foes, upon _
<br /> any Secursd Oke23gations, and in such ordEr as Landers may -
<br /> deL•asmine. The aolleotion of suah r�ntx, fssues and grofits,
<br /> or the enterinq u�on and taking possrssion of tha Mortgaqed =
<br /> kstate, or the agplication tharoof as afnresaid, shali not �,.;
<br /> aure or waive any d�fault or noL•ice of default heround�r or �::-
<br /> invalidate any aot done in response to sueh �ryEault or �'
<br /> pureuant to such notiae of deEault. �-''
<br /> ARTICLE IV "•`�
<br /> UNIFORAS CO?PI�RCIAI. CODB "
<br /> F;:
<br /> EdflGh respeat to any portion of the Mortgaged sstate �``
<br /> vhir,h conatitutes fixCUres or other property governed by Che i:
<br /> Uniform Cortmeraial Code of the state in vhich the Property i4 i`
<br /> looated <"UCC"), this Deed of Truat shull oonatiCUte a �:
<br /> seourity agreement between Boirower as the debtor and Lend�cs �'%
<br /> as the secured party, ��id II�rrower hereby grants Co Isnders a `.�:
<br /> seauritp interast in suah portion of the Mortgaged Sstate. `°
<br /> Cumulative of all othor riglz±s oE Lenders hereunder, Lenders +._
<br /> ahall have a.LY of tho righCC conferred upon secured parties t
<br /> b the UCC. �mrxower will oxecuke and deliver to Lendees alI `'`
<br /> ...
<br /> f nanainq str,tements thaC may £rom time to time be required {`+:
<br /> by Lenders Co eatablish and maintain the validity and �;`
<br /> priority of the securf2y interest of Lenders, or any �
<br /> modification tl�ereof, end all costs and expensos of any
<br /> searches requ3red by Gendexs. I,enders may exerciae any or t�:
<br /> all of the remodies of a secured party available to it undec i__
<br /> Che UCC with respect to such proporty, and it is e3cprossly u�
<br /> aqreed that if upon an Event of DefaulC Lenders ehould '-'"
<br /> proceed to d3��ose of such praperty in accocelance with the F;a
<br /> provisions of rhe UCC, 30 days' notic2 by I.enrlere to Borrower
<br /> shall be deomod to be reasonable notnce under any provision fi'`
<br /> of t3i� uCC requirinq such noL•ice; provided, however, that `
<br /> Required I,onders may at their option diapose of such �roperty �,
<br /> in accardance with Lenders' rights and remedies with respect
<br /> to the real property pursuant to the provisions oE this Doed ;_:°
<br /> oE Trust, in iieu of proceedinq under the UCC. �`.
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