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200804831 (e) Fourth, to deposit the surplus, if any, with the court or to remit such remainder to the person or persons entitled to it, as required under applicable law. 7.9 Appointment of Receiver. Bank shall be entitled, as a matter of absolute right and without regard to the value of any security for the Secured Obligations or the solvency of any person liable therefor and without any showing of insolvency, fraud or mismanagement on the part of Borrower, to the appointment of a receiver for the Property, the Leases, and the Rents and Revenues upon ex parte application to any court of competent jurisdiction. Borrower waives any right to any hearing or notice of hearing prior to the appointment of a receiver. 7.10 Right to Make Repairs. Improvements. Should any part of the Property come into the possession of Bank or a receiver, after an Event of Default, Bank or the receiver and receiver's agents shall be empowered: (a) To take possession of the Property, Leases, Rents and Revenues and any business conducted by Borrower or any other person thereon and any business assets used in connection therewith and any Property in which Bank has a security interest granted by Borrower and, if the receiver deems it appropriate, to operate the same; (b) from the Property; To exclude Borrower and Borrower's agents, servants, and employees (c) With or without taking possession of the Property, to collect the Rents and Revenues, including those past due and unpaid and security deposits; (d) To rent, lease or let all or any portion of the Property to any party or parties at such rental and upon such terms as the Bank: shall determine, and to pay any leasing or rental commissions associated therewith in its discretion; (e) portion thereof; To continue the development, marketing and sale of the Property or any (f) To complete any construction or development which may be in progress; (g) To do such maintenance and make such repairs and alterations as the receiver deems necessary; (h) To use all stores of materials, supplies and maintenance equipment on the Property and to replace and replenish such items at the expense of the receivership estate; (i) To pay the operating expenses of the Property, including costs of management and leasing or marketing thereof (which shall include lease commissions, sale commissions), and to make payments under any contracts and agreements for development and construction; (j) To pay all taxes and assessments against the Property and any property which is collateral for the Secured Obligations, all premiums for insurance thereon, all utility and other operating expenses, and all sums due under any prior or subsequent encumbrance; 1 03209-6061 7-957802v5 17 us Bank I Riverbend Apartments Phase I Deed of Trust