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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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- 51 - <br />201400400 <br />affect in any manner or to any extent the lien of this Security Instrument upon the <br />Mortgaged Property or any part thereof, or any liens, rights, powers or remedies of <br />Lender hereunder, but such liens, rights, powers and remedies of Lender shall continue <br />unimpaired as before. <br />26. Reasonable Use and Occupancy. In addition to the rights which Lender may have herein, <br />upon the occurrence of any Event of Default, Lender, at its option, may require Borrower to <br />pay monthly in advance to Lender, or any receiver appointed to collect the Rents, the fair <br />and reasonable rental value for the use and occupation of such part of the Mortgaged <br />Property as may be occupied by Borrower or may require Borrower to vacate and surrender <br />possession of the Mortgaged Property to Lender or to such receiver and, in default thereof, <br />Borrower may be evicted by summary proceedings or otherwise. <br />27. Security Agreement. This Security Instrument is both a real property mortgage and a <br />"security agreement" within the meaning of the Uniform Commercial Code. The Mortgaged <br />Property includes both real and personal property and all other rights and interests, whether <br />tangible or intangible in nature, of Borrower in the Mortgaged Property. Borrower by <br />executing and delivering this Security Instrument has granted and hereby grants to Lender, <br />as security for the Debt, a security interest in the Mortgaged Property to the full extent that <br />the Mortgaged Property may be subject to the Uniform Commercial Code (said portion of <br />the Mortgaged Property so subject to the Uniform Commercial Code being called in this <br />paragraph 27 the "Collateral "). If an Event of Default shall occur, Lender, in addition to any <br />other rights and remedies which it may have, shall have and may exercise immediately and <br />without demand, any and all rights and remedies granted to a secured party upon default <br />under the Uniform Commercial Code, including, without limiting the generality of the <br />foregoing, the right to take possession of the Collateral or any part thereof, and to take such <br />other measures as Lender may deem necessary for the care, protection and preservation of <br />the Collateral. Upon request or demand of Lender, Borrower shall at its expense assemble <br />the Collateral and make it available to Lender at the Mortgaged Property. Borrower shall <br />pay to Lender on demand any and all expenses, including reasonable legal expenses and <br />attorneys' fees and disbursements, incurred or paid by Lender in protecting the interest in <br />the Collateral and in enforcing the rights hereunder with respect to the Collateral. Any <br />notice of sale, disposition or other intended action by Lender with respect to the Collateral <br />sent to Borrower in accordance with the provisions hereof at least ten (10) days prior to such <br />action, shall constitute commercially reasonable notice to Borrower. The proceeds of any <br />disposition of the Collateral, or any part thereof, may be applied by Lender to the payment <br />of the Debt in such priority and proportions as Lender in its discretion shall deem proper. In <br />the event of any change in name, identity or structure of any Borrower, such Borrower shall <br />notify Lender thereof and promptly after request shall execute, file and record such Uniform <br />Commercial Code forms as are necessary to maintain the priority of Lender's lien upon and <br />security interest in the Collateral, and shall pay all expenses and fees in connection with the <br />filing and recording thereof. If Lender shall require the filing or recording of additional <br />Uniform Commercial Code forms or continuation statements, Borrower shall, promptly after <br />request, execute, file and record such Uniform Commercial Code forms or continuation <br />statements as Lender shall deem necessary and shall pay all expenses and fees in connection <br />with the filing and recording thereof. Borrower hereby irrevocably appoints Lender as its <br />attorney -in -fact, coupled with an interest, to file with the appropriate public office on its <br />
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