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200600597
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1/23/2006 1:04:49 PM
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1/23/2006 1:04:47 PM
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DEEDS
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200600597
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<br />200600597 <br /> <br />4.10 Leases. Beneficiary, at its option, is authorized to foreclose this Instrument <br />subject to the rights of any tenants of the Premises, and the failure to make any such tenants <br />parties to any such foreclosure proceedings and to foreclose their rights will not be, nor be <br />asserted to be by Grantor, a defense to any proceedings instituted by Beneficiary to collect the <br />Obligations secured hereby. <br /> <br />4.11 Discontinuance of Proceedings and Restoration of the Parties. In case Trustee or <br />Beneficiary shall have proceeded to enforce any right, power or remedy under this Instrument by <br />foreclosure, entry or otherwise, and such proceedings shall have been discontinued or abandoned <br />for any reason, then and in every such case Grantor and Beneficiary shall be restored to their <br />former positions and rights hereunder, and all rights, powers and remedies of Beneficiary shall <br />continue as if no such proceeding had been taken. <br /> <br />4.12 Remedies Cumulative. No right, power or remedy conferred upon or reserved to <br />Beneficiary by this Instrument is intended to be exclusive of any other right, power or remedy or <br />exclusive of any other right, power or remedy conferred by statute, but each and every such <br />right, power and remedy shall be cumulative and concurrent and shall be in addition to any other <br />right, power and remedy given hereunder or now or hereafter existing at law or in equity or by <br />statute. <br /> <br />4.13 Waiver. <br /> <br />4.13.01 No delay or omission of Beneficiary to exercise any right, power or <br />remedy accruing upon any default shall exhaust or impair any such right, power or remedy or <br />shall be construed to be a waiver of any such default, or acquiescence therein; and every right, <br />power and remedy given by this Instrument to Beneficiary may be exercised from time to time <br />and as often as may be deemed expedient by Beneficiary. No consent or waiver, expressed or <br />implied, by Beneficiary to or of any breach or default by Grantor in the performance of the <br />obligations imposed by this Instrument shall be deemed or construed to be a consent or waiver to <br />or of any other breach or default in the performance of the same or any other obligations of <br />Grantor hereunder. Failure on the part of Beneficiary to complain of any act or failure to act or <br />to declare an Event of Default, irrespective of how long such failure continues, shall not <br />constitute a waiver by Beneficiary of its rights hereunder or impair any rights, powers or <br />remedies consequent on any breach or default by Grantor. <br /> <br />4.13.02 If Beneficiary (i) grants forbearance or an extension of time for the <br />payment or satisfaction of the Obligations secured hereby; (ii) takes other or additional security <br />for the payment of the Obligations secured hereby; (iii) waives or does not exercise any right <br />granted herein or in the Credit Agreement; (iv) releases any part of the Premises from the lien of <br />this Instrument or otherwise changes any of the terms, covenants, conditions or agreements of <br />the Credit Agreement or this Instrument; (v) consents to the filing of any map, plat or replat <br />affecting the Premises; (vi) consents to the granting of any easement or other right affecting the <br />Premises; or (vii) makes or consents to any agreement subordinating the lien hereof, any such act <br />or omission shall not release, discharge, modify, change or affect the original liability under the <br />Credit Agreement, this Instrument or any other obligation of Grantor or any subsequent <br />purchaser of the Premises or any part thereof, or any maker, cosigner, endorser, surety or <br />guarantor; nor shall any such act or omission preclude Beneficiary from exercising any right, <br /> <br />-18- <br />
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