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200605846
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Last modified
7/3/2006 8:31:12 AM
Creation date
7/3/2006 8:31:09 AM
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DEEDS
Inst Number
200605846
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<br />200605846 <br /> <br />31. INJURY TO PROPERTY. All causes of action of Borrower, whether accrued before <br />or after the date of this Instrument for damages or injury to the Real Property or any part thereof, or in <br />connection with or affecting the Real Property or any part thereof, including causes of action arising in <br />tort or contract and causes of action for fraud or concealment of a material fact, are, at Lender's option, <br />assigned to Lender, and the proceeds thereof shall be paid to Lender who, after deducting therefrom all of <br />its expenses, including reasonable attorneys' fees, may apply such proceeds to the sums secured by this <br />Instrument or to any deficiency under this Instrument or may release any monies so received by it or any <br />part thereof as Lender may elect. Lender may, at its option, appear in and prosecute in its own name any <br />action or proceeding to enforce any such cause of action and may make any compromise or settlement <br />thereof. Borrower agrees to execute any further assignments and other instruments as from time to time <br />may be necessary to effectuate the foregoing provisions and as Lender shall request. <br /> <br />32. OFFSETS. No indebtedness secured by this Instrument shall be deemed to have been <br />offset or compensated by all or part of any claim, cause of action, counterclaim or part of any claim, cause <br />of action, counterclaim or crossclaim, whether liquidated or unliquidated, which Borrower now or <br />hereafter may have or may claim to have against Lender. <br /> <br />33. MISREPRESENTATION OR NONDISCLOSURE. Borrower has made certain <br />written representations and disclosures in order to induce Lender to make the loans owing under the <br />Revolving Loan Agreement which this Instrument secures and, in the event that Borrower has made any <br />material misrepresentations or failed to disclose any material fact, Lender, at its option and without prior <br />notice, shall have the right to declare the indebtedness secured by this Instrument, irrespective of the <br />maturity date specified in the Revolving Loan Agreement, immediately due and payable. The Trustee, <br />upon presentation to it of an affidavit signed by Lender setting forth facts showing a default by Borrower <br />under this paragraph (if such affidavit is required by applicable law), is authorized to accept as true and <br />conclusive all facts and statements therein, and to act thereon hereunder. <br /> <br />34. WAIVER OF MARSHALLING. Notwithstanding the existence of any other security <br />interests in the Real Property held by Lender, Lender shall have the right to determine the order in which <br />any or all of the Real Property shall be subjected to the remedies provided herein. Lender shall have the <br />right to determine the order in which any or all portions of the indebtedness secured hereby are satisfied <br />from the proceeds realized upon the exercise of the remedies provided herein. Borrower, any party who <br />consents to this Instrument and any party who now or hereafter acquires a security interest in the Real <br />Property and who has actual or constructive notice hereof, hereby waives any and all right to require the <br />marshalling of assets in connection with the exercise of any of the remedies permitted by applicable law <br />or provided herein. <br /> <br />35. REQUEST FOR NOTICES. Borrower requests that copies of any notice of default and <br />notice of sale hereunder be sent to Borrower at Borrower's address stated above. <br /> <br />36. GENERAL PROVISIONS. <br /> <br />a. This Instrument applies to, inures to the benefit of, and binds all parties hereto, <br />their heirs, legatees, devisees, administrators, executors, successors and assigns. <br /> <br />b. The term "Lender" shall mean the owner and holder (including a pledgee) of the <br />Revolving Loan Agreement secured hereby, whether or not named as Lender herein. <br /> <br />c. Wherever the context so requires, the masculine gender includes the feminine <br />and neuter, and the singular number includes the plural, and vice versa. <br /> <br />20 <br />
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