|
200003557
<br />limited liability company, partnership, trust, unincorporated association, government, governmental authority,
<br />and any other entity; the word "Property" shall include any portion of the Property and any interest therein;
<br />the word "Trustee" shall mean the Trustee named herein and its successors and assigns as trustee.
<br />Section 15.10 Days for Performance; Business Days. Unless otherwise provided herein, all days
<br />from performance shall be calendar days. Where Business Days have been provided, "Business Day" shall
<br />mean a day on which (a) Lender is open for business and (b) trading is being conducted in the United States
<br />government bond market and the Chicago Board of Trade.
<br />Section 15.11 Consent to Jurisdiction. Borrower and Lender, by its acceptance of this Security
<br />Instrument, agree and consent to thejurisdiction and venue of any state or federal court sitting in the county
<br />and state where the Real Property encumbered hereby is located with respect to any legal action,
<br />proceeding, or controversy between them and hereby expressly waive any and all rights under applicable
<br />law or inequity to object to the jurisdiction and venue of said courts. Borrower further irrevocably consents
<br />to service of process by certified mail, return receipt requested, to Borrower at the address for Borrower last
<br />provided to Lender in accordance with the notice provision of the Note and agrees that such service shall
<br />be effective ten (10) days after mailing (unless a longer period is required by applicable law). Nothing herein
<br />shall, however, preclude or prevent Lender from bringing any one or more actions against Borrower in any
<br />other jurisdiction as may be necessary to enforce or realize upon the security herein provided.
<br />Section 15.12 Subrogation. If any or all of the proceeds of the Note have been used to extinguish,
<br />extend or renew any indebtedness heretofore existing against the Property, then, to the extent of the funds
<br />so used, Lender shall be subrogated to all of the rights, claims, liens, titles, and interests existing against
<br />the Property heretofore held by, or in favor of, the holder of such indebtedness and such former rights,
<br />claims, liens, titles, and interests, if any, are not waived but rather are continued in full force and effect in
<br />favor of Lender and are merged with the lien and security interest created herein as cumulative security for
<br />the repayment of the Debt, the performance and discharge of Borrower's Obligations hereunder, under the
<br />Note and the Other Loan Documents and the performance and discharge of the Other Obligations.
<br />Section 15.13 Relationship of Borrower and Lender. The relationship of Borrower and Lender is
<br />solely that of debtor and creditor, and Lender has no fiduciary or other special relationship with Borrower,
<br />and no term or condition of any of the Note, this Security Instrument or any Other Loan Documents shall be
<br />construed so as to deem the relationship between Borrower and Lender to other than of debtor and creditor.
<br />Section 15.14 Servicing of the Loan. At the option of Lender, the loan secured hereby may be
<br />serviced by a servicer /trustee ( "the Servicer") selected by Lender and Lender may delegate all or any portion
<br />of its responsibilities under the Note, this Security Instrument, and the Other Loan Documents to the
<br />Servicer.
<br />Section 15.15 Duplicate Originals; Counterparts. This Security Instrument may be executed in any
<br />number of duplicate originals and each duplicate original shall be deemed to be an original. This Security
<br />Instrument may be executed in several counterparts, each of which counterparts shall be deemed an original
<br />instrument and all of which together shall constitute a single Security Instrument. The failure of any party
<br />hereto to execute this Security Instrument, or any counterpart hereof, shall not relieve the other signatories
<br />from their obligations hereunder.
<br />Section 15.16 Further Stipulations. The additional covenants, agreements and provisions set forth
<br />in Exhibit "B" attached hereto, if any, shall be a part of this Security Instrument and shall, in the event of any
<br />conflict between such further stipulations and any of the other provisions of this Security Instrument, be
<br />deemed to control.
<br />ATLANTA4181845.4
<br />GMACCM (SLP) — DOT (8/98) 35 Grand Isle, Nebraska
<br />
|