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<br /> v`~0 P, W)~a 200908y742
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<br /> its;sole: discretion,, to, apply, said awards, to,Sbe Indebtedness, whether or not then due or otherwise in accordance
<br /> with applicable law. Unless Lender otherwise., agrees in,w itiri any app.lipation of proceeds to tlxe,Itidebtedness
<br /> shall not extend or postpone the dueidate of the payments due under the Indebtedness or change the amount of
<br /> .tiv r~ P:af t a I b,
<br /> GRANTOR'S ASSURANCES. At any time, upon a request of Lender, Grantor will 'execute and deliver Fto
<br /> Lender, and if appropriate, cause to be retarded, such further mortgages, assignments, assignments of leases and
<br /> rents, security agreements,.pledges, ' f Wanting 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 /> ATTORNEY-IN-FACT. 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.
<br /> EVENTS OF DEFAULT. The following events shall constitute default under this Secarity Instrument (each an
<br /> "Event of Default"):
<br /> (a) Failure to make required payments when due under Indebtedness;
<br /> (b) Failure to perform or keep any of the 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 assertion to 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 /> „ (eAny, assignment by Grantor for the benefit of Grantor's creditors
<br /> (f) A material adverse change occurs in the financial condition, ownership or %anaptneg qf,O antor, or
<br /> any person obligated on the Indebtedness; or
<br /> (gj'` 'I ender deenis`its`elf rosecurefor, nyreasbn wfiatsoever.- '
<br /> REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default, Lender may without demand or
<br /> notice, pay any or all takes, assessnients, premiums, and liens required to be paid by `Grantor, effect any insurance
<br /> provided for herein, make such repairs, cause the abstracts of title or title insurance policy and tax histories of the
<br /> Property to be certified to date, or procure new 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 purposes will be added to the Indebtedness 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 of Lender" All abstracts of title,,,.title.iusuraece, tax..tkistortes,.surye,ys,;and other documents pertaining, to
<br /> the Indebtedness will remain in Lender's possession until the Indebtedness is paid in full.
<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 LENDER EXERCISES ITS RIGHTS UNDER THE ASSIGNMENT OF LEASES AND RENTS, THE
<br /> LENDER SHALL PROVIDE ALL STATUTORILY REQUIRED NOTICES OF SALE AND NOTICES OF
<br /> JUDICIAL HEARINGS BEFORE LENDER EXERCISES ANY OF ITS RIGHTS UNDER THIS
<br /> INSTRUMENT.
<br /> Upon the occurrence of an Event of Default, Lender may, without notice unless required by law, and at its optior,
<br /> declare the entire Indebtedness due and payable as it mad!. elect, regardless of the date or. dates of maturity thereof
<br /> ,and,if:permitted"by stAe` law;' is authorized :and empowered to self ; or to cause th6:Property to be sold at:public
<br /> auction, and to execute and dehver to the purchaser.or purphasersiat such sale any deeds of conveyance good and
<br /> sufficient at law, pursuant to the statute in'such case made and provided; and`out oi` the proceeds of the sale to
<br /> retain the sums then due.hereunder'and all costs. and, charges of`th&'Shce, 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 evidence of the
<br /> truth of the statements 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.
<br /> Upon the occurrence of an Event of Default, Lender shall immediately be entitled to make application for and
<br /> obtain the 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 the appointments confers. Grantor hereby irrevocably consents to such appointment
<br /> and waives notice of any application therefor.
<br /> NO WAIVER. No delay or failure of Lender to exercise any right, remedy, power or privilege hereunder shall
<br /> affect that right, remedy, power or privilege nor shall any single or partial exercise thereof preclude the exercise of
<br /> any right, remedy, power or privilege. No Lender delay or failure to demand strict adherence to the terms of this
<br /> Security Instrument shall be deemed to constitute a course of conduct inconsistent with Lender's right at any time,
<br /> before or after an event of default, to demand strict adherence to the terms of this Security Instrument and the
<br /> Related Documents.
<br /> SUBSTITUTE TRUSTEE. Lender, at its option, may from time to time remove Trustee and appoint a successor
<br /> trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Security
<br /> 2004-2007 Gapyright Compliance Systems. Inc. 23FA-9604 - 2007.07.200 rr wwtyc'gvmeliapcc6ystemflpvln
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