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88- 100020 r 3.1.1 If (i) Mortgagor shall fai 1 to make any payment of interest or principal, when and as the same shall become due and payable as set forth in the Loan Agreement or the Note, or (ii) Mortgagor shall fail to make any other payment to be paid by it under the Loan Agreement when and as the same shall become due and payable. 3.1.2 If Mortgagor shall fail to perform or observe any term, condition or covenant hereof (other than a failure of the type described in Section 3.1.1) and, if capable of being remedied, such fai lure shall continue unremedied for ten (10) days; provided, however, 1:0 Event of Default shall be deemed to exist if such default requ:res work to be performed, acts to be done, or conditions to be removed which cannot, by their nature, in Beneficiary's determination, reasonably be performed, done or removed, as the case may be, within such ten (10) day period, in which case no Event of Default shall be deemed to exist unless Mortgagor has not cured such event default within thirty (30) days after such default first occurs. 3.1.3 I f there shall occur (i) under the Loan Agreement an "Event of Default" (as such term is defined in the Loan Agreement), other than an Event of Default of the type described in Section 3.1.1 0: this Deed of Trust, or (ii) under any lease, mortgage, covenant or agreement affecting the Premises which is superior in priority to this Deed of Trust, any default which is not cured prior to the expiration of any applicable cure period set forth in such lease, mortgage, covenant or agreement, or (iii) under any of the Mortgages an Event of Default, as therein defined. SECTION 3.2 Remedies in Case of an Event of Default. If an Event of Default shall have occurred and is continuing, Beneficiary may, without notice except as otherwise provided in the Loan Agreement or required by law, and in the form provided by law, in addition to any other action, take one or more of the following actions: (a) Beneficiary at its option, may declare the entire unpaid amount of Indebtedness to be due and payable immedi- ately by delivery to Mortgagor of written declaration thereof and written notice of default; (b) The holder of the Note and any other Indebted- ness may at its election proceed by suitor suits at law or in equity to enforce the payment of such Indebtedness in accordance with the terms thereof and hereof, including the right to have a receiver appointed by a court of competent jurisdiction, and to foreclose the lien of this Deed of Trust as against all or any portion of the Mortgaged Property, and to have said property sold under the judgment or decree of a court of competent jurisdiction. (c.) The Trustee, his successor.s, substitutes, or assigns in the trust created hereby, at the request of the holder of the Indebtedness, is hereby authorized, directed and empowered, -20- L L L -.J ). u~ '.~l.;..~i~:~~.::! ,.~< ;Y' ;" .4t :'~-~- R ;~' I "i-; '{ ,.-.--- (. ~ '. .~ r' ~ ..