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2� 15�8�58
<br /> 2. Lender Ri ts Upan Default. Upon or at any time after the oc�urr�nce of an
<br /> Event af Default hereunder, under the Nate, under the Mortgage, under the
<br /> Loan Agreement, or under any �ther S�curity Instrument (after any nfltice
<br /> r�quirements or cure period provided in the Loan Documentis or mandated by
<br /> law, if such default remains uncur�d}, �r if any representat�on ar warranty
<br /> made by the Borrower to the Lender in connection with the Loan�viden�ed by
<br /> the Note is untrue in any material respect, the Lender may, at its option, but
<br /> without obligation t� do so, without not�ce to �r �onsent �f the Borrower,
<br /> either in person or by agent, without regard for the adequacy of the security for
<br /> the indebtedness secured hereby, the commission of vvaste or the so�vency of
<br /> the Barrower, with or tivithout bringing any action or proceeding, by a rec�iver
<br /> or trustee to be appointed by a court, enter upon, take possessi�n of, rnainta�n,
<br /> manage and operate �he Mortgaged Premises, make, execute, enfarce, modify,
<br /> alter, cancel and accept the surrender of Leases �wh�ther or not the same
<br /> extend beyand the term af the Mortgage}, obtain or e�ict tenants, fix or m�dify
<br /> Rentals, refund and col�ect security depasits, and do any acts which the Lender
<br /> . deems pr�per to protect the security hereof, and ei�ther vvith or w�thout taking
<br /> possessian af the Mortgaged Premises, in its own name or in the name of the
<br /> Borrower, sue for or otherwise demand, collect, recei�e, and giv� receip�s f�r
<br /> all Renta�s, and apply the same upon the costs of collection thereof, including
<br /> �he fees and costs of agents and attorneys employed by the Lender; upon the
<br /> costs of managing, op�rating and leasing the Mortgaged Premises, including
<br /> taxes, �nsurance, maintenance, repairs, improvem�nts, �he fees of profess�onal
<br /> managing agents, archit�cts, engineers, and appraisers, license and permit fees,
<br /> leasing fees and camm�ssi�ns, and Lender's out-of-pocke� expens�s; and upon
<br /> any indebtedness secured hereby, in such order as the L�nd�r may determine7
<br /> subj e�t to applicab�e statutory requirements, if any, and to the requirements �f
<br /> the Mortgage. The Lender or such a receiver shall be entitled to remain in
<br /> possession �f the M�rtgaged Premises and to co�Iect the Rentals thraughout
<br /> any statutory period of redemption from a f�reclosure sale. The entering upon
<br /> and taking p�ssessi�n af the Mortgaged Premises, the c�llection of Rentals and
<br /> the applicatian thereof as afaresa�d sha11 not cure or waive any Event of
<br /> D�fault or tivaive, modify or affec� any notice of default under the Note, under
<br /> the Mortgage, �he Loan Agreement, or under any�ther Security Instrument or
<br /> hereunder, or invalidate any act done pursuant �o such E�ent of Default or '
<br /> n�tice of default.
<br /> Th� Lender may, without ent�ring int� pass�ssion or pursuing any other
<br /> r�medy as pro�ided in this section or at law or in�quity, or�n conjunction w�th
<br /> su�h possession or pursuit of other remedy, give no�ice to any or all Lessees
<br /> authorizing and directing said Lessees to pay Rentals directly t� the Lend�r. If _ -
<br /> a Lessee receives such a notice, the Barrower hereby directs such Lessee to
<br /> make payment pursuant ther�to, and it sha11 be canclus�vely presumed, as
<br /> between the Borrower and �uch Lessee, that the Lessee is obligat�d and
<br /> entitled to make such payrnent to the Lender, and that such payment constitutes
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