|
200507874
<br />(o) if an Event of Default shall occur under any of the other Cross - collateralized Mortgages or any
<br />default beyond applicable notice and grace periods under any document executed by the Cross - collateralized
<br />Borrowers; or
<br />(p) if a default under any of the other terms, covenants or conditions of the Note, this Security
<br />Instrument or any other Loan Document, other than as set forth in (a) through (o) above, for ten (10) days after
<br />notice from Lender in the case of any default which can be cured by the payment of a sum of money, or for thirty
<br />(30) days after notice from Lender in the case of any other default or an additional thirty (30) days if Borrower is
<br />diligently and continuously effectuating a cure of a curable non - monetary default, other than as set forth in (a)
<br />through (o) above.
<br />Section 13.02. Remedies. (a) Upon the occurrence and during the continuance of any Event of Default,
<br />Lender may, in addition to any other rights or remedies available to it hereunder or under any other Loan Document,
<br />at law or in equity, take such action, without notice or demand, as it reasonably deems advisable to protect and
<br />enforce its rights against Borrower or any one or more of the Cross - collateralized Borrowers and in and to the
<br />Property or any one or more of the Cross - collateralized Properties or any one or more of them, including, but not
<br />limited to, the following actions, each of which may be pursued singly, concurrently or otherwise, at such time and
<br />in such order as Lender may determine, in its sole discretion, without impairing or otherwise affecting any other
<br />rights and remedies of Lender hereunder, at law or in equity: (i) declare all or any portion of the unpaid Debt to be
<br />immediately due and payable; provided, however, that upon the occurrence of any of the events specified in Section
<br />13.01(i), the entire Debt will be immediately due and payable without notice or demand or any other declaration of
<br />the amounts due and payable; or (ii) bring, or instruct Trustee to bring, an action to foreclose this Security
<br />Instrument and without applying for a receiver for the Rents, but subject to the rights of the tenants under the
<br />Leases, enter into or upon the Property or any part thereof, either personally or by its agents, nominees or attorneys,
<br />and dispossess Borrower and its agents and servants therefrom, and thereupon Lender may (A) use, operate,
<br />manage, control, insure, maintain, repair, restore and otherwise deal with all and every part of the Property and
<br />conduct the business thereat, (B) make alterations, additions, renewals, replacements and improvements to or on the
<br />Property or any part thereof, (C) exercise all rights and powers of Borrower with respect to the Property or any part
<br />thereof, whether in the name of Borrower or otherwise, including, without limitation, the right, subject to the terms
<br />of the Leases, to make, cancel, enforce or modify Leases, obtain and evict tenants, and demand, sue for, collect and
<br />receive all earnings, revenues, rents, issues, profits and other income of the Property and every part thereof, and (D)
<br />apply the receipts from the Property or any part thereof to the payment of the Debt, after deducting therefrom all
<br />expenses (including, without limitation, reasonable attorneys' fees and disbursements) reasonably incurred in
<br />connection with the aforesaid operations and all amounts necessary to pay the Impositions, insurance and other
<br />charges in connection with the Property or any part thereof, as well as just and reasonable compensation for the
<br />services of Lender's third -party agents; or (iii) have an appraisal or other valuation of the Property or any part
<br />thereof performed by an Appraiser (and Borrower covenants and agrees it shall cooperate in causing any such
<br />valuation or appraisal to be performed) and any cost or expense incurred by Lender in connection therewith shall
<br />constitute a portion of the Debt and be secured by this Security Instrument and shall be immediately due and payable
<br />to Lender with interest, at the Default Rate, until the date of receipt by Lender; or (iv) sell, or instruct Trustee to sell,
<br />the Property or institute, or instruct Trustee to institute, proceedings for the complete foreclosure of this Security
<br />Instrument, or take such other action as may be allowed pursuant to Legal Requirements, at law or in equity, for the
<br />enforcement of this Security Instrument in which case the Property or any part thereof may be sold for cash or credit
<br />in one or more parcels; or (v) with or without entry, and to the extent permitted and pursuant to the procedures
<br />provided by applicable Legal Requirements, institute proceedings for the partial foreclosure of this Security
<br />Instrument, or take such other action as may be allowed pursuant to Legal Requirements, at law or in equity, for the
<br />enforcement of this Security Instrument for the portion of the Debt then due and payable, subject to the lien of this
<br />Security Instrument continuing unimpaired and without loss of priority so as to secure the balance of the Debt not
<br />then due; or (vi) sell, or instruct Trustee to sell, the Property or any part thereof and any or all estate, claim, demand,
<br />right, title and interest of Borrower therein and rights of redemption thereof, pursuant to power of sale or otherwise,
<br />at one or more sales, in whole or in parcels, in any order or manner, at such time and place, upon such terms and
<br />after such notice thereof as may be required or permitted by law, at the discretion of Lender, and in the event of a
<br />sale, by foreclosure or otherwise, of less than all of the Property, this Security Instrument shall continue as a lien on
<br />the remaining portion of the Property; or (vii) institute an action, suit or proceeding in equity for the specific
<br />performance of any covenant, condition or agreement contained in the Loan Documents, or any of them; or (viii)
<br />U19
<br />
|