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��14��135
<br /> 21. WAIVERS.
<br /> (a} Na act or thing ne�d occur t� establish th� lia�ility �f the Master Tenant
<br /> hereunder, and no act or thing, except full payment and discharge of all of the �hligations, shalt
<br /> in any way exonerate the Master Tenant or modify, reduce, �imit or release the liability of the
<br /> Mast�r Tenant hereunder.
<br /> (b� The Master Tenant will n�t exercise or enforce any righti �f contribution,
<br /> reimbursement, recourse or subrogati�n a�ailable to the Master Tenant against ar�y person liable
<br /> for payment of the �hligations, or as to any collateral security therefor, unless and until all of the
<br /> �hligations shall ha�e been fully paid and discharged.
<br /> (c} �Vhether or not any existing re�ationship between the Mast�r Tenant and the
<br /> Borrower has b�en changed ar ended and whether or not this Agreement has been terminated, the
<br /> S�cured Party may, but sha�l not �e obligated to, enter into transa�tions resulting in the creation
<br /> or continuance of�bligations without any cansent or approval by the Master Tenant ar�d without
<br /> any notice to the Master T�nant. The liability of the Master Tenant shall nat be affected ar
<br /> impaired by any of the following acts or things (whi�h the Secured Party is expressly authorized
<br /> to do, amit or suffer from time to time, b�th before and aft�r terminati�n of this Agreement,
<br /> without n�t�ce to or cnnsent or appro�al by th� Master Tenant}: (i} any acceptance of collateral
<br /> secur�ty, guarantors, acc�mmodation parties or sureties for any or a�l �bligations; �ii} any one or
<br /> more extensions or renewals �f�bligations �whether or not for longer than the ariginal periad}
<br /> or any modificati�n of the interest rat�s, maturities or other contractual terms applicable to any
<br /> �bligations; (iii� any wai�er or indulgence granted to Borrower, any delay or lack of diligence in
<br /> the enforGement of �bligatians, or any failur� to institute proceedings, fil� a claim, give any
<br /> required notices ar otherwise protect any �biigati�ns; �i�) any ful� or partial release of,
<br /> settlement vvith, or agreement not to sue any person �iable in respect �f any �bligations; (v� any
<br /> discharge of any e�idence of�bligations or the acceptance af any instrument in r�newal thereof
<br /> of substitution therefor; (�i} any failure to �btain collateral s�Curity (including r�ghts af setof�}
<br /> for �bligations, or to see to the prnper or suffic�ent creatian and perfection thereof, or t�
<br /> estab�ish the priority thereof, ar to prot�ct, insure, or enforce any collatera� security; ar any
<br /> mod�ficati�n, substitutian, discharge, impairment, �r lass of any callatera� security; �V11� any
<br /> fareclosure or enf�rcement of any col�ateral security; (viii}any transfer of any�bligations or any
<br /> e�idence thereof; �ix} any order af application af any payments of credits upon �bligat�ons;
<br /> andlor �x} any electian by �ecured Party under �1111(b�(2} of the United States Bankruptcy
<br /> �ode.
<br /> (d} The Master Tenant waives any and all defenses, claims and discharg�s of any
<br /> obligor, pertain�ng to �b�igations, except the defense of discharge by payment in full. Without
<br /> �11171t1I"1� ��1� generality of the foregoing, the Master Tenant w�ll not asser�, plead or enforce
<br /> against Secured Party any defense af wa�ver, re�ease, discharge in bankruptcy, sta.tute of
<br /> limitations, res judiCata, statute of frauds, anti-def ciency statute, fraud, incapacity, minority,
<br /> usury, iliegality ar unenforceability which may be avaiiable to any person liable in respect of
<br /> any indebtedness, or any setoff a�a�lable against Secured Party to any such person, vvhether or
<br /> not on accaunt of a related transacti�n. Th� Master Tenant expr�ssly agrees that th� Master
<br /> Tenant shall be and remain liable, to the extent vf the Collateral, for any defici�ncy remaining
<br /> Pre�ious�ersions obsolete Page 18 of 2fl form HUD-9234Q-�RCF�Rev. D31�3}
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