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202107049 defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary, and also the right to perform and discharge each and every obligation, covenant and agreement of Borrower contained in the leases and in exercising any such powers to pay necessary costs and expenses, employ counsel and pay reasonable attorneys' fees. Borrower will pay immediately upon demand all sums expended by Beneficiary under the authority of this Deed of Trust, together with interest thereon, and the same shall be added to said indebtedness and shall be secured hereby and by this Deed of Trust. Section 6.04. Present Assignment. This Deed of Trust shall constitute a perfected, absolute and present assignment, provided that Borrower shall have the right to collect, but not prior to accrual (except as permitted by Section 6.02 above), all of the rents, and to retain, use and enjoy the same unless and until an Event of Default shall occur under the Agreement. Any rents which accrue prior to an Event of Default under the Agreement or hereunder but are paid thereafter shall be paid to Beneficiary. Section 6.05. Default, Remedies. In addition to the remedies described in Article IV herein, upon the occurrence of any Event of Default specified in the Agreement or hereunder, Beneficiary may, at its option, at any time: (a) in the name, place and stead of Borrower and without becoming a mortgagee in possession (i) enter upon, manage and operate the Property or retain the services of one or more independent contractors to manage and operate all or any part of the Property, (ii) make, enforce, modify and accept surrender of the leases; (iii) obtain or evict tenants, collect, sue for, fix or modify the rents and enforce all rights of Borrower under the leases; and (iv) perform any and all other acts that may be necessary or proper to protect the security of this Deed of Trust; (b) with or without exercising the rights set forth in subparagraph (a) above, give, or require Borrower to give, notice to any or all tenants under the leases authorizing and directing the tenants to pay all rents under the leases directly to Beneficiary; or (c) without regard to waste, adequacy of the security or solvency of Borrower, apply for, and Borrower hereby consents to, the appointment of a receiver of the Property, whether or not foreclosure proceedings have been commenced under this Deed of Trust, and if such proceedings have been commenced, whether or not a foreclosure sale has occurred. The exercise of any of the foregoing rights or remedies and the application of the rents, profits and income pursuant to Section 6.06 shall not cure or waive any Event of Default (or notice of default) under this Deed of Trust or invalidate any act done pursuant to such notice. Section 6.06. Application of Rents, Profits and Income. All rents collected by Beneficiary or the receiver each month may be applied to necessary and desirable expenses of insurance and similar expenses with respect to the Property, to the just and reasonable compensation of Beneficiary for its own services and for the services of receiver, agents and legal counsel by it properly engaged and employed, to the payment of the indebtedness secured by this Deed of Trust, to the normal and customary expenses of operating the Property, and to necessary and desirable renewals, improvements and alterations. The rights and powers of Beneficiary hereunder and the application of rents under this Section 6.06 shall continue until expiration of the redemption period from any foreclosure sale, whether or not any deficiency remains after a foreclosure sale. Section 6.07. Authorization to Tenant. Upon notice from Beneficiary that it is exercising the remedy set forth in Section 6.05(b) or as may be provided in the Agreement, the tenants under the leases are hereby irrevocably authorized and directed to pay to Beneficiary all sums due under the leases, and 12