|
� 2� 1 ���835
<br /> determine, �n �ts so�e d�s�retion, with�ut �mpairir�g or atherwise aff�cting the ather rights and
<br /> --- � remedies of Lender:
<br /> �a} de��ar�the entire unpaxd Debt ta b� imm�diately due and payable,
<br /> �b� �nst�tute proceed�ngs,judicial or atherw�se, for the complete for�c�osure of
<br /> this Se�ur�ty Instrume�.t under any appixcab�e prov�s��n af. law, in which cas�the Property or an�
<br /> interest therezn may be so�d f�r ca.sh �r upon cred�t in �ne �1} or mare parce�s or �n severa�
<br /> interests c�r por���ns and in ar�y�rder�r mar�ner�
<br /> (c� vvith or without entry, to the �extent perm�tted and pursuant to the
<br /> procedures pravided by app��cab�� laW, xnst�tute prac�edings for the part�a� foreclasure of th�s
<br /> Security Instrument for the portion of the I]ebt then due and payable, subject to the c�nt�nuing
<br /> L��n and security interest of this Security Instrument for the ba�an�� af the Debt not then du�,
<br /> unimpa�r�d a.nd W�thout�oss �f pri�r�ty;
<br /> (d� se�� far cash nr upon �redit the Pr�perty �r any part thereof and all estate,
<br /> cla�m, demand, right, t�t�e and �nterest �f Ind�vi�ua� Borrov�er therein and rights of redemption
<br /> thereof, pursuant to power of sa�e or otherwise, at �ne or mare sales, as an ent�rety or �n parce�s,
<br /> at such time and place, upon such terms and after such nat�ce there�f as may be required or
<br /> permitted by laW;
<br /> �e} institute an act�on, su�t or proceeding in equrty for the spec�fzc
<br /> performar�c� �f an� cov�nant, �ondit�on or agr�ement conta�ned here�n, in the N�te, the Lnan
<br /> Agreement or in the other Loan Documents;
<br /> �f� recaver j udgment on the Note e�th�r before, durxng �r after an�
<br /> proceed�ngs for the enforcement of this Security�nstrument or the other Loan Docu�nents;
<br /> �g} app�y for the app�intment �f a r�ceiver, trustee, liquidator or conservatar
<br /> af the Pr�pert�, without n�tice and Withaut regard for the adequacy of the security for the I]ebt
<br /> and w�thout regard f�r th� so�vency of Indi�idua� BorroWer, any guarantor, indemn�tar vvith
<br /> respect to th�Loan or of any Person liable f�r the pa�ment of the Debt;
<br /> (h} t�ie license granted to Individual B�rrower under Section 1.2 hereof sha��
<br /> automatically be revok�d and Lender sha11 xmmed�ately be entitled to possess�an�f a�l Rents and
<br /> sums due under any Lease Guarantxes, whether or not Lender enters upon ar tal�es contro� of the
<br /> Property. In addition, sn long as an Event of Default e�xsts, Lender may, at its �pti�n and to the
<br /> extent penm�tted by applicable 1aw, v�rithout v�aiving such Event of Default, withaut regard to the
<br /> adequacy �f the secur�ty for the Debt, �ither �n pers�r� or �y agent, nominee or attorney, wxth ar
<br /> without bring�ng any act�on or proceeding, or by a receiver appointed by a �ourt, d�spossess
<br /> Indiv�dua� Barrower and xts agents and s�rvar�ts th.�refrom, with�ut liability for trespass,
<br /> damages or otherwise and ex��ude Indiv�dua� Borrower and �ts agents or ser�ants Wh���y
<br /> therefrom, and take possession af the Pr�perty �subje�t to tenants' rights under the L�ases}, and
<br /> take �ossession of aI� bo�ks, rec�rds and ac�ounts re�ating thereto and Individua� BorraWer
<br /> agrees t� surrender possessi�n of the Property and of such�ooks, rec�rds and accaunts t� Lender
<br /> upon demand, and thereupon Lender may �i� use, �perate, manage, c�ntr��, �nsure, maintain,
<br /> repair, restore and otherwxse dea� with al� and every part of the Property and c�nduct the
<br /> 14
<br /> �NEWY�RK 31698�7 4] .
<br />
|