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<br />200709152
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<br />rights under the Leases. Without limitation to the generality of the foregoing, Lender may notify the
<br />tenants under the Leases that all Rents are to be paid to Lender, and following such notice all Rents shall
<br />be paid directly to Lender and not to Grantor or any other Person other than as directed by Lender, it
<br />being understood that a demand by Lender on any tenant under the Leases for the payment of Rent shall
<br />be sunieient to warrant payment by such tenant of Rent to Lender without the necessity of further consent
<br />by Grantor. Grantor hereby irrevocably authorizes and directs the tenants under the Lease to pay all
<br />Rents to Lender instead of to Grantor, upon receipt of written notice from Lender, without the necessity
<br />of any inquiry of Grantor and without the necessity of determining the existence or non-existence of an
<br />Event of Default. Grantor hereby appoints Lender as Grantor's attorney-in-fact with full power of
<br />substitution, which appointment shall take effect upon the occurrence of an Event of Default and is
<br />coupled with an interest and is irrevocable prior to the full and final payment and performance of the
<br />Obligations, in Grantor's name or in Lender's name: (a) to endorse all checks and other instruments
<br />received in payment of Rents and to deposit the same in any account selected by Lender; (b) to give
<br />receipts and releases in relation thereto; (c) to institute, prosecute and/or settle actions for the recovery of
<br />Rents; (d) to modifY the terms of any Leases including terms relating to the Rents payable thereunder; (e)
<br />to cancel any Leases; (f) to enter into new Leases; and (g) to do all other acts and things with respect to
<br />the Leases and Rents which Lender may deem necessary or desirable to protect the security for the
<br />Obligations. Any Rents received shall be applied first to pay all Expenses and next in reduction of the
<br />other Obligations. Grantor shall pay, on demand, to Lender, the amount of any deficiency between (i) the
<br />Rents received by Lender, and (ii) all Expenses incurred together with interest thereon as provided in the
<br />Loan Agreement and the other Loan Documents.
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<br />Section 7.5 Taking Possession or Control of the Property.
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<br />As a matter of right without regard to the adequacy of the security, and to the extent pennitted by
<br />Law without notice to Grantor, Lender shall be entitled, upon application to a court of competent
<br />jurisdiction, to the immediate appointment of a receiver for all or any part of the Property and the Rents,
<br />whether such receivership may be incidental to a proposed sale ofthe Property or otherwise, and Grantor
<br />hereby consents to the appointment of such a receiver and agrees that such receiver shall have all of the
<br />rights and powers granted to Lender pursuant to Section 7.4. In addition, to the extent permitted by Law,
<br />and with or without the appointment of a receiver, or an application therefor, Lender may (a) enter upon,
<br />and take possession of (and Grantor shall surrender actual possession of), the Property or any part thereof,
<br />without notice to Grantor and without bringing any legal action or proceeding, or, if necessary by force,
<br />legal proceedings, ejectment or otherwise, and (b) remove and exclude Grantor and its agents and
<br />employees therefrom.
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<br />Section 7.6 Management of the Property.
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<br />Lender may enter into and upon and take possession of all or any part of the Property, and may
<br />exclude Grantor, and all persons claiming under Grantor, and its agents or servants, wholly or partly
<br />therefrom; and, upon obtaining possession of the Property or upon the appointment of a receiver as
<br />described in Section 7.4, Lender, Trustee or the receiver, as the case may be, may, at its sole option, (a)
<br />make all necessary or proper repairs and Additions to or upon the Property, (b) operate, maintain, control,
<br />make secure and preserve the Property, and (c) complete the construction of any unfinished
<br />Improvements on the Property and, in connection therewith, continue any and all outstanding contracts
<br />for the erection and completion of such Improvements and make and enter into any further contracts
<br />which may be necessary, either in their or its own name or in the name of Grantor (the costs of
<br />completing such Improvements shall be Expenses secured by this Deed of Trust and shall accrue interest
<br />as provided in the Loan Agreement and the other Loan Documents). Lender, Trustee or such receiver
<br />shall be under no liability for, or by reason of, any such taking of possession, entry, holding, removal,
<br />maintaining, operation or management, except for gross negligence or willful misconduct. The exercise
<br />of the remedies provided in this Section shall not cure or waive any Event of Default, and the
<br />enforcement of such remedies, once commenced, shall continue for so long as Lender shall elect,
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<br />Error! Unknown document property name.
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