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201400400
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Last modified
8/19/2014 2:25:24 PM
Creation date
1/23/2014 3:16:30 PM
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DEEDS
Inst Number
201400400
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2 0 1 400400 <br />"Beneficiary grants to Borrower a revocable license to collect such Rents, and to retain and enjoy <br />same, and to otherwise administer and act as the landlord under the Lease, at such times as an <br />Event of Default is not outstanding hereunder or under the other Loan Documents." <br />3. The following language is hereby added to the end of paragraph 14: <br />"Grantor hereby represents to Lender that the Debt evidenced by the Note and secured hereby is <br />a "Commercial Loan" within the meaning of Section 12 -101 of the Commercial Law Article of <br />the Maryland Code, as may be amended from time to time." <br />4. The following subparagraphs are hereby added as new subparagraphs of paragraph 25: <br />(g) No "Mortgagee -In- Possession" Status. The exercise by Beneficiary of any of its rights or <br />remedies under this Deed of Trust shall not be deemed to make Beneficiary a "mortgagee - <br />in- possession" or otherwise liable in any manner with respect to the Mortgaged Property, <br />unless Beneficiary, in person or by agent, assumes actual possession thereof. Nor shall <br />appointment of a receiver for the Mortgaged Property by any court at the request of <br />Beneficiary or by agreement with Borrower, or the entering into possession of the <br />Mortgaged Property by such receiver, be deemed to make Beneficiary a "mortgagee -in- <br />possession" or otherwise liable in any manner with respect to the Mortgaged Property. <br />(h) Power of Sale. <br />(i) Borrower, in accordance with the provisions of the General Laws of the State of <br />Maryland, the Maryland Rules of Procedure, or any other general or local laws of the State of <br />Maryland relating to mortgages and deeds of trusts, including any amendments, supplements, or <br />additions thereto, does hereby: (1) declare its assent, after the occurrence of any such Event of <br />Default, to the passing of a decree for the sale of the Mortgaged Property by the equity court <br />having jurisdiction for the sale thereof and the Deed of Trust Trustee shall have, subject to the <br />terms of the decree of court, the same authority and power to sell on the terms and conditions <br />herein set forth; and (2) authorize the Deed of Trust Trustee, after the occurrence of any such <br />Event of Default, to sell the Mortgaged Property by power of sale. Such sale may be of the <br />Mortgaged Property as a whole and it shall not be the duty of the party selling to sell the same in <br />parts or in lots but such party may do so. For any sale under power of sale granted by this Deed <br />of Trust, the sale shall be made in accordance with the provisions of the General Laws of the <br />State of Maryland, the Maryland Rules of Procedure, or any other general or local laws of the <br />State of Maryland relating to mortgages and deeds of trust (including any amendments, <br />supplements, or additions thereto), and the sale shall be made after publishing notice of time, <br />place and terms of sale at least once a week for three (3) successive weeks, the first publication <br />shall be given not less than fifteen (15) days prior to sale and the last publication not more than <br />one (1) week prior to sale, in a newspaper of general circulation in the county where the <br />foreclosure action is pending. The Deed of Trust Trustee shall also give such other notice as <br />required by law or rule and as he or she may deem expedient; and the terms of the sale may be <br />all cash on ratification of the sale or such other terms as the party selling may deem expedient. <br />In addition to the foregoing, the Deed of Trust Trustee is hereby authorized to disclose in any <br />public notice of sale that such sale of the Mortgaged Property shall be made subject to one or <br />more of the tenancies entered into subsequent to the recording of this Deed of Trust, or otherwise <br />- 103 - <br />
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