201405634 - Laserfiche WebLink

Browse

��14�5�34 rep�acement Not� or other Loan Y]ocum�r�t, dated the date of such �ost, stolen, destro�ed �r rnut�lated Note or �ther ��an I�acument �n the same princ�pai am�unt ther�of and othe�-,wis� �f ��ke tenor. ARTI�I1E �'I - DU� [�N SA�EIEN�i1�VIBRAN�E Section 6.1 �ender Rel�an�e. �ra�tor aC�n�wiedges t�iat Lender has examined and re�ied on the ex�er�ence �f�rant�r and �ts general partn�rs, members, pr�nci�als and ��f Crantor �s a trust) b�n�f�cxal ovvners in ovv�ning ax�d op�rat�ng �r�per�ies such as the Property in agree�ng to ma�e the �,�an, and wi�� c�nt�nu�to re�y on Grantor's �wnersh�p of the Property as a means of maintainir��the value �f the Pr�perty as security for repayment of th�e D�bt and the performance af the �ther �bligati�ns. Grantor acknow�edg�s that Lender has a valzd intezest �n maintaining th� �ralue of the Pr�p�rty s� as tn ensure that, should �rar�t�r defau�t in the repa�ment of the �ebt or the �erformance �f the �ther �bligations, Lender �ari r��r the Debt by a sale of the Pr�perty. Se�ti�r� G.� N� Sa�elE�ncumbran�e. ��vent ❑f �lefault �n the E�venf of Sa�elEncu�abrance. It sha�� c�nstitute a d�fau�t if e�ther Crantor or any Restri�ted Party shal� Transfer the Prapert� ��- an}� part th�reof or a�.y �nterest t�erein or sha1� p�rrr��t ar suffer the Praper�y or an� part ther�af or any �nterest th�re�n tfl be transferred other than as express�� permitted�ursuax�t ta t�e terms af the�oan Agr�ement. ARTI�L�VII- RIG�ITS AND ��VI�]'�I�S �TP�N'��FAULT Sect��n 7.1 Remedies. Upon th� oc�urr�n�� and during the continuance af any �v�nt of Defau�t, Borr�vv�er agrees that Lender may, subj ect to Art��e 11, take ar d�r�ct Trust�e to take such act�on, wxthout not��e or demand, as it de�ms advisable t� �rat��t and enfarce �ts r�ghts aga�nst Borro�rer and in and t� the Pro�erty, ir�c�uding, but nat �imited ta, th� fo�lov��ng actions, each of wh�ch may be pursued canGurrent�y or otherw�se, at such tirne and in such arder as L�nd�r or Trustee may determ�ne, in its s�le discret�an, v��thout impa�r�ng ar oth�r�vise affe�t�n� the oth�r r�ghts and r�med��s of L�nder or Truste�: �a} dee�are the ent�re unpaxd I�ebt to b�immediat��y due and payabl�; (b} institute procee��ng�, judxc�a� or �therwise, f�r the cornplete forec�osure of this �3eed of Trust unc�er any a�p��cable prov�sion af�av�r, in wh�ch cas� the Pro�erty or any interest therein may be so�d for cash �r upon cred�t in �ne or mar� parcels or �n several interests or por�xans and�n any ord�r or mar�ner; � �c} with or W�thaut entry, to the extent �erm�tted and pursuant to th� proc�dures prov�d�d b� a�plica�ie Iaw, ir�st�tute prace�d�ngs for the par��a� foreclosure af t�is �eed of Trust for the por�ion of the Debt ther� due and payables subject to th� cont�nu�r�g ��en and security �nterest af this D�ed af Trust for the bala.r�.ce of the Debt n�t then due, un�mpa�red and v��thaut �oss of priarit�; 15 ��os�s39gv3