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200602197 <br />ARTICLE IV <br />SECURITY AGREEMENT <br />Section 4.01. Creation of Security Interest ................................................................. .............................12 <br />Section 4.02. Warranties; Representations and Covenants of the Grantor ................. .............................13 <br />ARTICLE V <br />EVENTS OF DEFAULT AND REMEDIES UPON DEFAULT <br />Section 5.01. <br />Events of Default .................................................................................. .............................14 <br />Section 5.02. <br />Acceleration Upon Default; Additional Remedies ................................ ............................1.4 <br />Section 5.03. <br />Exercise of Power of Sale .................................................................... .............................16 <br />Section 5.04. <br />Appointment of Receiver ..................................................................... .............................16 <br />Section 5.05. <br />Remedies Not Exclusive ...................................................................... .............................16 <br />Section 5.06. <br />Possession of Mortgaged Estate ........................................................... .............................17 <br />Section 5.07. <br />Cash Collateral ..................................................................................... .............................17 <br />ARTICLE VI <br />MISCELLANEOUS <br />Section6.01. <br />Governing Law ..................................................................................... .............................18 <br />Section6.02. <br />Waiver of Rights .................................................................................. .............................18 <br />Section 6.03. <br />Limitation of Interest ............................................................................ .............................18 <br />Section6.04. <br />Notices .................................................................................................. .............................l9 <br />Section6.05. <br />Captions ................................................................................................ .............................19 <br />Section 6.06. <br />Invalidity of Certain Provisions; Conflicting Provisions ..................... .............................19 <br />Section6.07. <br />Subrogation .......................................................................................... .............................19 <br />Section 6.08. <br />Change in Ownership ........................................................................... .............................20 <br />Section 6.09. <br />Assignment of the Beneficiary's Interest ............................................. .............................20 <br />Section 6.10. <br />Time Is of the Essence .......................................................................... .............................20 <br />Section 6.11. <br />Obligations of Grantor .......................................................................... .............................20 <br />Section 6.12. <br />Immunity of Individuals ....................................................................... .............................20 <br />EXHIBIT A LEGAL DESCRIPTION <br />EXHIBIT B TITLE EXCEPTIONS <br />-ii- <br />