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"-- 004244 <br />(a) If default shall be made in a payment required by the <br />Note secured hereby, as and when the same shall become due and <br />payable; or <br />(b) If default shall be made by First Party in the due <br />performance or observance of any covenant, agreement, or <br />condition herein contained or required to be performed or <br />observed by First Party, or in any Lease; <br />(c) If any warranty of First Party contained herein shall <br />prove to be in any material respect incorrect or if there shall <br />be any other breach of any such warranty; or <br />(d) If the Mortgaged Property, or any interest of First <br />Party therein, is sold, transferred, assigned or in any manner <br />conveyed without the written consent of Second Party; <br />THEN, AND IN EACH AND EVERY SUCH EVENT: <br />(1) All amounts due under the Note and the accrued interest <br />thereon, shall, at the option of Second Party become and be due <br />and payable immediately by First Party, anything in said Note or <br />in this Mortgage and Security Agreement to the contrary <br />notwithstanding. In the event any such amounts are not then due <br />under the Note, any payments by First Party hereunder or <br />proceeds from collection on collateral shall be held by Second <br />Party as in the case of insurance proceeds under (1)(b) above. <br />(2) Second Party may invoke any remedies permitted by <br />applicable law, including foreclosure of this Mortgage and <br />Security Agreement, Second Party shall be entitled to collect <br />all reasonably costs and expenses incurred in pursuing the <br />remedies provided herein including, but not limited to, <br />reasonable attorney's fees. <br />(3) Second Party, in person, by agent or by judicially <br />appointed receiver, shall be entitled to enter upon, take <br />possession of and manage the property and collect the rents, <br />including those past due. All rents so collected shall be <br />applied first to the costs of management of the property and <br />collection of rents, and then to the sums secured by this <br />Mortgage and Security Agreement. Second Party shall be liable <br />to account only for those rents actually received. <br />No remedy herein conferred upon or reserved to Second Party <br />is intended to be exclusive of any other remedy, but every <br />remedy herein provided shall be cumulative, and shall be in <br />addition to every other remedy given hereunder, or now or <br />-7- <br />0431t <br />U <br />"A <br />