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200011180
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Last modified
10/13/2011 11:01:45 PM
Creation date
10/20/2005 10:48:30 PM
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DEEDS
Inst Number
200011180
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20001 180 <br />ARTICLE 7 <br />RIGHTS OF AMERICAN FAMILY <br />SECTION 7.1 RIGHT TO CURE DEFAULT. If Borrower shall fail to <br />comply with any of the covenants or obligations under any of the Loan Documents, American <br />Family may, but shall not be obligated to, without further demand upon Borrower and without <br />waiving or releasing Borrower from any obligation incorporated in any of the Loan Documents, <br />remedy such failure. Borrower agrees to repay upon request all sums incurred by American <br />Family in remedying any such failure, which sums shall be deemed Recoverable Costs. No such <br />advance shall be deemed to relieve Borrower from any failure hereunder. <br />SECTION 7.2 NO CLAIM AGAINST AMERICAN FAMILY. Nothing <br />contained in any of the Loan Documents shall constitute any consent or request by American <br />Family, expressed or implied, for the performance of any labor or services or for the furnishing <br />of any materials or other property in respect of the Premises or any part thereof, nor as giving <br />Borrower or any party in interest with Borrower any right, power or authority to contract for or <br />permit the performance of any labor or services or the furnishing of any materials or other <br />property in such fashion as would create any personal liability against American Family in respect <br />thereof or which would permit the making of any claim that any Lien based on the performance <br />of such labor or services or the furnishing of any such materials or other property is prior to the <br />Lien of this Trust Deed. <br />SECTION 7.3 INSPECTION. Borrower shall permit American Family's <br />authorized representatives upon reasonable advance notice to enter the Premises at reasonable <br />times during normal business hours for the purpose of inspecting the same. American Family, <br />however, shall have no duty to make such inspections and shall not incur any liability or <br />obligation for making or not making any such inspections. <br />SECTION 7.4 WAIVERS; RELEASES; RESORT TO OTHER <br />SECURITY, ETC. Without affecting the liability of any party liable for payment of the <br />Indebtedness or performance of any obligation under any of the Loan Documents, and without <br />affecting the rights of American Family with respect to any security not expressly released in <br />writing, American Family may, at any time, and without notice to or the consent of Borrower <br />or any party in interest with respect to the Premises or any of the Loan Documents: (a) release <br />any person liable for payment of all or any part of the Indebtedness or for performance of any <br />obligation; (b) make any agreement extending the time or otherwise altering the terms of payment <br />of all or any part of the Indebtedness or modifying or waiving any obligation, or subordinating, <br />modifying or otherwise dealing with the Lien or charge hereof; (c) accept any additional security; <br />(d) release, partially release or otherwise deal with any property, real or personal, including any <br />or all of the Premises or the Collateral, respecting the Lien of the Trust Deed; or (e) upon an <br />Event of Default resort to any deeds of trust, security agreements, pledges, contracts of <br />guarantee, assignments of rents and leases or other securities, and exhaust any one or more of said <br />39 <br />
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