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MORTGAGE 2��������
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<br />Grantor's property, any assignment for the benefit of credhors, any type of creditor workout, or the
<br />commencement of any proceeding under any bankruptcy or insolvency lews by or against Grantor.
<br />Taking of the Property. Any creditor or governmentel agency tries to take any of the Property or eny other of
<br />Grantor's property in which Lender has a lien. This includes taking of, garnishing of or levying on Grantor's
<br />accounts, including deposit accounts, with Lender. However, if Grantor disputes in good faith whether the claim
<br />on which the teking of the Property is based is valid or reasonable, and if Grantor gives Lender written notice of
<br />the claim and furnishes Lender with monies or a surety bond satisfactory to Lender to satisfy the claim, then this
<br />default provision will not apply.
<br />Breach of Other Agreement. Any breach by Grantor under the terms of any other agreement between Grantor and
<br />Lender that is not remedied within any grece period provided therein, including without limitation any agreement
<br />concerning any indebtedness or other obligation of Grantor to Lender, whether existing now or leter.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety,
<br />or accommodation party of eny of the Indebtedness or eny guarantor, endorser, surety, or accommodation party
<br />dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
<br />Indebtedness.
<br />Insecurtty. Lender in good faith believes itself insecure.
<br />Right to Cur�. If any default, other than a default in payment is curable and if Grentor has not been given a notice
<br />of a breach of the same provision of this Mortgage within the preceding twelve (12) months, it may be cured if
<br />Grantor, after Lender sends written notice to Grantor demanding cure of such default: (1) cures the default within
<br />fifteen (15) days; or (2) if the cure requires more than fifteen (15) days, immediately initiates steps which Lender
<br />deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all
<br />reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default and at any time thereafter, Lender,
<br />at Lender's option, may exercise any one or more of the following rights and remedies, in addition to any other rights or
<br />remedies provided by law:
<br />Accelarate Indebtednass. Lender shall have the right at its option to declare the entire Indebtedness immediately
<br />due and peyable, including any prepayment penalty thet Grantor would be required to pay.
<br />UCC Remedtes. With respect to all or any part of the Personal Property, Lender shall have all the rights and
<br />remedies of a secured party under the Uniform Commercial Code.
<br />Collect Rents. Lender shall have the right, without notice to Grentor, to take possession of the Properry and
<br />collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over and above Lender's
<br />costs, against the Indebtedness. In furtherance of this right, Lender may require any tenant or other user of the
<br />Property to make payments of rent or use fees directly to Lender. If the Rents are collected by Lender, then
<br />Grentor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment
<br />thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other
<br />users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made,
<br />whether or not any proper grounds for the demand existed. Lender may exercise its rights under this subparagraph
<br />either in person, by agent, or through a receiver.
<br />Appoint Receiver. Lender shall have the right to heve a receiver appointed to take possession of all or any part of
<br />the Property, with the power to protect and preserve the Property, to operate the Property preceding foreclosure or
<br />sale, and to collect the Rents from the Property and apply the proceeds, over and above the cost of the
<br />receivership, against the Indebtedness. The receiver may serve without bond if permitted by law. Lender's right
<br />to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the
<br />Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from serving as a
<br />receiver.
<br />Judicial Foreclosure. Lender may obtain a judicial decree foreclosing Grantor's interest in all or any part of the
<br />Proparty.
<br />Nonjudicial Sale. If permitted by applicable law, Lender mey foreclose Grantor's interest in all or in any pert of the
<br />Personal Properry or the Real Property by non-judicial sale.
<br />Deflclency Judgment. If permitted by applicable law, Lender may obtain a judgment for any deficiency remaining in
<br />the Indebtedness due to Lender after applicatian of all amounts received from the exercise of the rights provided in
<br />this section.
<br />Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property is sold as provided
<br />above or Lender otherwise becomes entitled to possession of the Property upon default of Grantor, Grantor shall
<br />become a tenant at sufferance of Lender or the purchaser of the Property and shall, at Lender's option, either (1)
<br />pay e reasonable rental for the use of the Property, or (2) vacate the Property immediately upon the demand of
<br />Lender.
<br />Other Remedles. Lender shall have all other rights and remedies provided in this Mortgage or the Note or available
<br />at law or in equity.
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