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20]205288
<br />the purposes of any suit brought under this subsection, Trustor waives the defenses of laches and any
<br />applicable statute of limitations.
<br />(d) To apply to a court of competent jurisdiction for and obtain appointment of a receiver of the
<br />Subject Property as a matter of strict right and without regard to: (i) the adequacy of the security for the
<br />repayment of the Secured Obligations; (ii) the existence of a declaration that the Secured Obligations are
<br />immediately due and payable; or (iii) the fling of a notice of default; and Trustor consents to such
<br />appointment.
<br />(e) To take and possess all documents, books, records, papers and accounts of Trustor or the
<br />then owner of the Subject Property; to make or modify Leases of, and other agreements with respect to,
<br />the Subject Property upon such terms and conditions as Beneficiary deems proper; and to make repairs,
<br />alterations and improvements to the Subject Property deemed necessary, in Trustee's or Beneficiary's
<br />judgment, to protect or enhance the security hereof.
<br />(f) To execute or cause Trustee to execute a written notice of such Default and of its election to
<br />cause the Subject Property to be sold by Trustee by power of sale to satisfy the Secured Obligations.
<br />Trustee shall give and record such notice as the law then requires as a condition precedent to a trustee's
<br />sale. When the minimum period of time required by law after such notice has elapsed, Trustee, without
<br />notice to or demand upon Trustor, except as otherwise required by law, shall sell the Subject Property at
<br />the time and place of sale fixed by it in the notice of sale, at one or several sales, either as a whole or in
<br />separate parcels and in such manner and order, all as directed by Beneficiary in its sole discretion, at
<br />public auction to the highest bidder for cash, in lawful money of the United States, payable at the time of
<br />sale. Except as required by law, neither Trustor nor any other person or entity shall have the right to
<br />direct the order in which the Subject Property is sold. Subject to requirements and limits imposed by law,
<br />Trustee may postpone any sale of the Subject Property by public announcement at such time and place
<br />of sale, and from time to time may postpone such sale by public announcement at the time and place
<br />fixed by the preceding postponement. Trustee shall deliver to the purchaser at such sale a deed
<br />conveying the Subject Property or portion thereof so sold, but without any covenant or warranty, express
<br />or implied. The recitals in said deed of any matters or facts shall be conclusive proof of the truthfulness
<br />thereof. Any person, including Trustee, Trustor or Beneficiary, may purchase at such sale.
<br />(g) To resort to and realize upon the security hereunder and any other security now or later held
<br />by Beneficiary concurrently or successively and in one or several consolidated or independent judicial
<br />actions or lawfully taken non -judicial proceedings, or both, and to apply the proceeds received in
<br />accordance with the Section hereof entitled Application of Foreclosure Sale Proceeds, all in such order
<br />and manner as Beneficiary shall determine in its sole discretion.
<br />(h) Upon sale of the Subject Property at any judicial or non -judicial foreclosure, Beneficiary may
<br />credit bid (as determined by Beneficiary in its sole discretion) all or any portion of the Secured
<br />Obligations. In determining such credit bid, Beneficiary may, but is not obligated to, take into account all
<br />or any of the following: (i) appraisals of the Subject Property as such appraisals may be discounted or
<br />adjusted by Beneficiary in its sole underwriting discretion; (ii) expenses and costs incurred by Beneficiary
<br />with respect to the Subject Property prior to foreclosure; (iii) expenses and costs which Beneficiary
<br />anticipates will be incurred with respect to the Subject Property after foreclosure, but prior to resale,
<br />including without limitation, costs of structural reports and other due diligence, costs to carry the Subject
<br />Property prior to resale, costs of resale (e.g., commissions, attorneys' fees, and taxes), Hazardous
<br />Materials clean-up and monitoring, deferred maintenance, repair, refurbishment and retrofit, and costs of
<br />defending or settling litigation affecting the Subject Property, (iv) declining trends in real property values
<br />generally and with respect to properties similar to the Subject Property; (v) anticipated discounts upon
<br />resale of the Subject Property as a distressed or foreclosed property, (vi) the existence of additional
<br />collateral, if any, for the Secured Obligations, and (vii) such other factors or matters that Beneficiary
<br />deems appropriate. Trustor acknowledges and agrees that: (A) Beneficiary is not required to use any or
<br />COMMNDDEED_NE.DOC (Rev. 02)10) -12_
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