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200500259
<br />(a) Upon the occurrence of a Default, Secured Party shall have the option,
<br />without notice, demand, presentment, notice of presentment, notice of payment or
<br />nonperformance, protest, notice of protest, notice of intent to accelerate, notice of acceleration,
<br />or any other notice or any other action, of declaring all secured indebtedness in its entirety to be
<br />immediately due and payable, and the liens and security interests evidenced hereby shall be
<br />subject to foreclosure in any manner provided for herein or provided for by law as Secured Party
<br />may elect.
<br />(b) Upon the occurrence of a Default, Secured Party is authorized prior or
<br />subsequent to the institution of any foreclosure proceedings to enter upon the Mortgaged
<br />Property, or any part thereof, and to take possession of the Mortgaged Property and of all books,
<br />records and accounts relating thereto and to exercise without interference from Debtor any and
<br />all rights which Debtor has with respect to the management, possession, operation, protection or
<br />preservation of the Mortgaged Property, including the right to rent the same for the account of
<br />Debtor and to deduct from such rents all reasonable costs, expenses and liabilities of every
<br />character incurred by Secured Party in collecting such rents and in managing, operating,
<br />maintaining, protecting or preserving the Mortgaged Property and to apply the remainder of such
<br />rents on the secured indebtedness in such manner as Secured. Party may elect. All such costs,
<br />expenses and liabilities incurred by Secured Party in collecting such rents and in managing,
<br />operating, maintaining, protecting or preserving the Mortgaged Property, if not paid out of rents
<br />as hereinabove provided, shall constitute a demand obligation owing by Debtor and shall bear
<br />interest from the date of expenditure until paid at a rate of interest per annum as provided in
<br />Section 8.2(d) of the Loan Agreement. If necessary to obtain the possession provided for above,
<br />Secured Party may invoke any and all legal remedies to dispossess Debtor, including specifically
<br />one or more actions for forcible entry and detainer, trespass to try title and restitution. In
<br />connection with any action taken by Secured Party pursuant to this Section 5.1(b), Secured Party
<br />shall not be liable for any loss sustained by Debtor resulting from any failure to let the
<br />Mortgaged Property, or any part thereof, or from any other act or omission of Secured Party in
<br />managing the Mortgaged Property, unless such loss is caused by the negligence or willful
<br />misconduct of Secured Party, and Secured Party shall not be obligated to perform or discharge
<br />any obligation, duty or liability under any lease agreement covering the Mortgaged Property or
<br />any part thereof or under or by reason of this instrument or the exercise of rights or remedies
<br />hereunder. Should Secured Party incur any such liability, the amount thereof, including
<br />reasonable costs, expenses and reasonable attorneys' fees, shall be secured hereby, and Debtor
<br />shall reimburse Secured Party therefor immediately upon demand. Nothing in this Section 5.1(b)
<br />shall impose any duty, obligation or responsibility upon Secured Party for the control, care,
<br />management or repair of the Mortgaged Property, or shall operate to make Secured Party
<br />responsible or liable for any waste committed on the Mortgaged Property or by any other parties
<br />or for any dangerous or defective condition of the Mortgaged Property, or for any negligence in
<br />the management, upkeep, operation, repair or control of the Mortgaged Property resulting in loss
<br />or injury or death to any tenant, licensee, employee or stranger, unless such waste, dangerous or
<br />defective condition or injury or death is directly a result of negligence or willful misconduct by
<br />Secured Party. Debtor hereby assents to, ratifies and confirms any and all actions of Secured
<br />Party with respect to the Mortgaged Property taken under this Section 5.1(b).
<br />(c) Upon the occurrence of a Default, Trustee or his or her successor or
<br />substitute is authorized and empowered under the power of sale which is hereby conferred and it
<br />shall be his or her special duty at the request of Secured Party to sell the Mortgaged Property or
<br />DEED OF TRUST— Page 9
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