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<br />thereof, personally or by its agent or attorneys. Grantee may enter upon and take and maintain
<br />possession or may apply to the court in which a foreclosure is pending to be placed in possession of
<br />all or any part of the Property, together with all documents, books, records, papers, and accounts of
<br />Grantor or the then owner of the Property relating thereto. Grantee may exclude Grantor, such
<br />owner, and any agents and servants from the Property. As attorney -in -fact or agent of Grantor or
<br />such owner, or in its own name, Grantee may hold, operate, manage, and control all or any part of
<br />the Property and conduct the business thereof, either personally or by its agents. Grantee shall
<br />have full power to use such measures, legal or equitable, as it may deem proper or necessary to
<br />enforce the payment or security of the Rents, including actions for recovery of Rent, actions in
<br />forcible entry and detainer, and actions in distress for rent, all without notice to Grantor.
<br />4.06 Priority of Rent Payments. Any Rents received by Grantee after taking possession
<br />of the Property, or pursuant to any assignment to Grantee under the provisions of this Security
<br />Instrument or any of the other Loan Documents, shall be applied as provided under applicable law
<br />or, in the case of a receivership, as the court may determine
<br />4.07 Appointment of Receiver. Upon, or at any time after, the filing of a complaint to
<br />foreclose this Security Instrument, the court in which such complaint is filed shall appoint a
<br />receiver of the Property whenever Grantee when entitled to possession so requests. Such receiver
<br />shall have all powers and duties prescribed by applicable law, including the power to make leases
<br />to be binding upon all parties, including Grantor after redemption, the purchaser at a sale pursuant
<br />to a judgment of foreclosure and any person acquiring an interest in the Property after entry of a
<br />judgment of foreclosure. In addition, such receiver shall also have the following powers: (a) to
<br />extend or modify any then - existing Leases, which extensions and modifications may provide for
<br />terms to expire, or for options to lessees to extend or renew terms to expire, beyond the maturity
<br />date of the Obligations and beyond the date of the issuance of a deed or deeds to a purchaser or
<br />purchasers at a foreclosure sale, it being understood and agreed that any such Leases, and the
<br />options or other such provisions to be contained therein, shall be binding upon Grantor and all
<br />persons whose interests in the Property are subject to the lien hereof and upon the purchaser or
<br />purchasers at any foreclosure sale, notwithstanding any redemption, discharge of the Security
<br />Instrument indebtedness, satisfaction of any foreclosure judgment, or issuance of any certificate of
<br />sale or deed to any purchaser; and (b) all other powers which may be necessary or are usual in such
<br />cases for the protection, possession, control, management and operation of the Property during the
<br />whole of the period of receivership. The court from time to time, either before or after entry of
<br />judgment of foreclosure, may authorize the receiver to apply the net income in his or its hands in
<br />payment in whole or in part of: (a) the Secured Indebtedness, or any amounts included in any
<br />judgment of foreclosure or supplemental judgment or other item for which Grantee is authorized to
<br />make a Protective Advance, and (b) the deficiency in case of a sale and deficiency.
<br />4.08 Application of the Rents or Proceeds from Foreclosure or Sale. In any foreclosure
<br />of this Security Instrument by judicial action, or any sale of the Property under the power of sale
<br />herein granted, the proceeds of such foreclosure proceeding and/or sale and /or the Rents paid to
<br />Grantee shall, to the extent permitted by law, be applied as follows:
<br />First: to the ratable payment of the costs and expenses of such sale, including
<br />reasonable fees and expenses incurred by Grantee, its agents and attorneys, and of any judicial or
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