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<br />200708456
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<br />insurance premiums and to the Indebtedness. At Lender's sole discretion, all leases, subleases and licenses must
<br />first be approved by Lender.
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<br />CONDEMNATION. Grantor shall give Lender notice of any action taken or threatened to be taken by private or
<br />public entities to appropriate the Property or any part thereof, through condemnation, eminent domain or any other
<br />action. Further, Lender shall be permitted to participate or intervene in any of the above described proceedings in
<br />any manner it shall at its sole discretion determine. Lender is hereby given full power, right and authority to
<br />receive and receipt for any and all damages awarded as a result of the full or partial taking or appropriation and in
<br />its sole discretion, to apply said awards to the Indebtedness, whether or not then due or otherwise in accordance
<br />with applicable law. Unless Lender otherwise agrees in writing, any application of proceeds to the Indebtedness
<br />shall not extend or postpone the due date of the payments due under the Indebtedness or change the amount of
<br />such payments.
<br />
<br />GRANTOR'S ASSURANCES. At any time, upon a request of Lender, Grantor will execute and deliver to the
<br />Lender, and if appropriate, cause to be recorded, such further mortgages, assignments, assignments of leases and
<br />rents, security agreements, pledges, financing statements, or such other document as Lender may require, in
<br />Lender's sole discretion, to effectuate, complete and to perfect as well as to continue to preserve the Indebtedness,
<br />or the lien or security interest created by this Security Instrument.
<br />
<br />ATTORNEY -IN-F ACT. Grantor appoints Lender as attorney-in-fact on behalf of Grantor. If Grantor fails to
<br />fulfill any of Grantor's obligations under this Security Instrument or any Related Documents, including those
<br />obligations mentioned in the preceding paragraph, Lender as attorney-in-fact may fulfill the obligations without
<br />notice to Grantor. This power of attorney shall not be affected by the disability of the Grantor.
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<br />EVENTS OF DEFAULT. The following events shall constitute default under this Security Instrument (each an
<br />"Event of Default"):
<br />
<br />(a) Failure to make required payments when due under Indebtedness;
<br />(b) Failure to perform or kecp any ofthc covenants of this Security Instrument or a default under any of
<br />the Related Documents;
<br />(c) The making of any oral or written statement or asscrtion to the Lender that is false or misleading in any
<br />material respect by Grantor or any person obligated on the Indebtedness;
<br />(d) The death, dissolution, insolvency, bankruptcy or receivership proceeding of Grantor or of any person
<br />or entity obligated on the Indebtedness;
<br />(e) Any assigrunent by the Grantor for the benefit of the Grantor's creditors;
<br />(f) A material adverse change occurs in the financial condition, ownership or management of Grantor or
<br />any person obligated on the Indebtedness; or
<br />(g) The Lender deems itself insecure for any reason whatsoever.
<br />
<br />REMEDIES ON DEFAULT. UpOIl the occurrence of an Event of Default, Lender may, without demand or
<br />notice, pay any or all taxes, assessments, premiums, and liens required to be paid by Grantor, effect any insurance
<br />provided for herein, make such repairs, cause the abstracts oftitle or title insurance policy and tax histories of the
<br />Property to be certified to datc, or procure ncw abstracts of title or title insurance and tax histories in case none
<br />were furnished to it, and procure title reports covering the Property, including surveys. The amounts paid for any
<br />such purposcs will be added to the Indebtcdness and will bear interest at the rate of interest otherwise accruing on
<br />the Indebtedness until paid. In the event of foreclosure, the abstracts of title or title insurance shall become the
<br />property ofthc Lender. All abstracts of title, title insurance, tax histories, surveys, and other documents pertaining
<br />to thc Indebtcdness will remain in Lender's posscssion until the Indebtedness is paid in full.
<br />
<br />IN THE EVENT OF THE SALE OF THIS PROPERTY UNDER THE PROCEDURE FOR FORECLOSURE OF
<br />A SECURITY INSTRUMENT BY ADVERTISEMENT, AS PROVIDED BY APPLICABLE LAW, OR IN THE
<br />EVENT THE LENDER EXERCISES ITS RIGHTS UNDER THE ASSIGNMENT OF LEASES AND RENTS,
<br />THE GRANTOR HEREBY WAIVES ANY RIGHT TO ANY NOTICE OTHER THAN THAT PROVIDED
<br />FOR SPECIFICALLY BY STATUTE, OR TO ANY JUDICIAL HEARING PRIOR TO SUCH SALE OR
<br />OTHER EXERCISE OF RIGHTS.
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<br />Upon the occurrence of an Event of Default, Lender may, without notice unless required by law, and at its option,
<br />declare the entire Indebtedness due and payable, as it may elect, regardless of the datc or dates of maturity thereof
<br />and, if permitted by state law, is authorized and empowered to sell or to cause the Property to be sold at public
<br />auction, and to execute and deliver to the purchaser or purchasers at such sale any deeds of conveyancc good and
<br />sufficient at law, pursuant to the statute in such case made and provided, and out of the proceeds of the sale to
<br />retain the sums then due hereunder and all costs and charges of the sale, including attorneys' fees, rendering any
<br />surplus to the party or parties entitled to it. The recitals in the trustee's deed shall be prima facie evidcnce of the
<br />truth of the ,;tatements made in it. If Lender chooses to invoke the power of sale, Lender or Trustee will provide
<br />notice of sale pursuant to applicable law. Any such sale or a sale made pursuant to a judgment or a decree for the
<br />foreclosure hereof may, at the option of Lender, be made en masse. The commencement of proceedings to
<br />foreclose this Mortgage in any manner authorized by law shall be deemed as exercise of the above option.
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<br />Upon thc occurrence of an Event of Default, Lender shall immediately be entitled to make application for and
<br />obtain thc appointment of a receiver for the Property and of the earnings, income, issue and profits of it, with the
<br />powers as the court making thc appointments confers. Grantor hcrcby irrevocably consents to such appointment
<br />and waives notice of any application therefor.
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<br />NO WAIVER. No delay or failure of Ll-'llder to exercise any right, remedy, power or privilegc hercunder shall
<br />affect that right, remedy, power or privilege nor shall any single or partial exercise thereof preclude the exercise of
<br />anyright, remedy, power or privilege. No Lender delay or failure to demand strict adherence to the terms of this
<br />Q 2004-2006 Copyright CnrhpliancC' Sy8ten>>:i, It.::. J40A-C726 - 2006.11.1~2 www.e(lrllpliatlct=sySkIT1S.CUIll
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