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20150275E
<br />4.4 Remedies Cumulative, Concurrent and Nonexclusive. Beneficiary shall have all
<br />rights, remedies and recourses granted in the Loan Documents and available at law or equity
<br />(including the UCC), which rights (a) shall be cumulative and concurrent, (b) may be pursued
<br />separately, successively or concurrently against Grantor or any other Person obligated under
<br />the Promissory Note and the other Loan Documents, or against the Mortgaged Property, or
<br />against any one or more of them, at the sole discretion of Beneficiary, (c) may be exercised as
<br />often as occasion therefor shall arise, and the exercise or failure to exercise any of them shall
<br />not be construed as a waiver or release thereof or of any other right, remedy or recourse, and
<br />(d) are intended to be, and shall be, nonexclusive. No action by Beneficiary in the enforcement
<br />of any rights, remedies or recourses under the Loan Documents or otherwise at law or equity
<br />shall be deemed to cure any Event of Default.
<br />4.5 Release of and Resort to Collateral. Beneficiary may release, regardless of
<br />consideration and without the necessity for any notice to or consent by the holder of any
<br />subordinate Lien on the Mortgaged Property, any part of the Mortgaged Property without, as to
<br />the remainder, in any way impairing, affecting, subordinating or releasing the Liens created in or
<br />evidenced by the Loan Documents or their priority, as applicable, and security interests in and
<br />to the Mortgaged Property. Beneficiary shall partially release (and reconvey) its Liens on the
<br />Mortgaged Property as provided in the Loan Agreement.
<br />4.6 Waiver of Redemption, Notice and Marshalling of Assets. To the fullest extent
<br />permitted by Law, Grantor hereby irrevocably and unconditionally waives and releases (a) all
<br />benefit that might accrue to Grantor by virtue of any present or future statute of limitations or
<br />other Law exempting the Mortgaged Property from attachment, levy or sale on execution or
<br />providing for any appraisement, valuation, stay of execution, exemption from civil process,
<br />redemption or extension of time for payment, and (b) any right to a marshalling of assets or a
<br />sale in inverse order of alienation.
<br />4.7 Discontinuance of Proceedings. If Beneficiary shall have proceeded to invoke
<br />any right, remedy or recourse permitted under the Loan Documents and shall thereafter elect to
<br />discontinue or abandon such right, remedy or recourse for any reason, Beneficiary shall have
<br />the unqualified right to do so and, in such an event, Grantor and Beneficiary shall be restored to
<br />their former positions with respect to the Indebtedness, the Obligations, the Loan Documents,
<br />the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of
<br />Beneficiary shall continue as if the right, remedy or recourse had never been invoked, but no
<br />such discontinuance or abandonment shall waive any Event of Default which may then exist or
<br />the right of Beneficiary thereafter to exercise any right, remedy or recourse under the Loan
<br />Documents for such Event of Default.
<br />4.8 Application of Proceeds. The proceeds of any sale of, and the Rents and other
<br />amounts generated by the holding, leasing, management, operation or other use of the
<br />Mortgaged Property, shall be applied by Beneficiary or Trustee (or the receiver, if one is
<br />appointed) in the following order unless otherwise required by applicable Law:
<br />(a) To the payment of the reasonable and necessary costs and expenses of
<br />taking possession of the Mortgaged Property and of holding, using, leasing, repairing,
<br />improving and selling the same or any portion thereof, including, without limitation (i)
<br />Trustee's and receiver's fees and expenses, (ii) court costs, (iii) reasonable attorneys'
<br />and accountants' fees and expenses, (iv) costs of advertisement, (v) insurance
<br />premiums, and (vi) the payment of all ground rent, real estate taxes and assessments,
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