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20000151
<br />money judgment or personal liability shall be sought against Borrower or any
<br />beneficiaries, trustees, partners, members, managers, the economic and beneficial owners
<br />of Borrower or any partners, managers or members (or other constituent party(ies)) of
<br />Borrower or of any beneficial owners, officers, directors or trustees of Borrower or any
<br />partners, managers, officers, shareholders, members or directors of any thereof
<br />(collectively, the "Released Parties"), except that Lender may bring a foreclosure action,
<br />an action for specific performance or any other appropriate action or proceeding to enable
<br />Lender to enforce and realize upon its interests under the Note, this Security Instrument
<br />or the other Laan Documents or in the Mortgaged Property, or any other collateral given
<br />by Borrower pursuant to this Security Instrument and the other Loan Documents;
<br />provided, however, that, except as specifically provided herein, any judgment in any such
<br />action or proceeding shall be enforceable against Borrower and/or the Released Parties
<br />only to the extent of Borrower's interest in the Mortgaged Froperty and in any other
<br />collateral given to Lender, and Lender, by accepting this Security Instrument, the Nate
<br />and the other Laan Documents, agrees that it shall not sue for, seek or demand any
<br />deficiency judgment against Borrower or any of the Released Parties in any such action
<br />or proceeding under, or by reason of, or in connection with this Security Instrument, the
<br />Note or the other Loan Documents. The provisions of this paragraph shall not, however,
<br />(a) constitute a waiver, release or impairment of any obligation evidenced or secured by
<br />this Security Instrument, the Note or any of the other Loan Documents; (b) impair the
<br />right of Lender to name Borrower as a party defendant in any action or suit for
<br />foreclosure and sale under this Security Instrument; (c) affect the validity or
<br />enforceability of any guaranty made in connection with the Debt or any of the rights and
<br />remedies of the Lender thereunder; (d) impair the right of Lender to obtain the
<br />appointment of a receiver; (e) impair the enforcement of the Assignment; or (f) constitute
<br />a waiver of the right of Lender to enforce the liability and obligation of Borrower, by
<br />money judgment or otherwise, to the extent of any loss, damage, cost, expense, liability,
<br />claim or other obligation incurred by Lender (including attorneys' fees and costs
<br />reasonably incurred) arising out of or in connection with the following:
<br />(i) the failure of Borrower to account for Lessee's security deposits, if any, or any
<br />other similar payment collected from Lessee by Borrower under the Lease;
<br />(ii) after notice of an uncured Event of Default and during the continuance of such
<br />Event of Default, the failure of Borrower to apply 100% of any and all net income
<br />(i.e., after payment of operating expenses relating to the Mortgaged Property)
<br />derived from the Mortgaged Property and received by Borrower, to the repayment
<br />of the Note;
<br />(iii) a material misrepresentation made by Borrower, or the holders of beneficial or
<br />ownership interests in Borrower, in the Loan Documents;
<br />(iv) any attempt by Borrower to divert or otherwise cause to be diverted any amounts
<br />payable to Lender far the benefit of Lender in accordance with the Loan
<br />Documents;
<br />-57-
<br />15445229.4.BUSINESS
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