201000751 - Laserfiche WebLink

Browse

2oiooo751 written demand be due from Mortgagor to Agent and the same shall be secured by this Deed of Trust and shall be a lien on the Mortgaged Property prior to any right, title to, interest in, ar claim upon the Mortgaged Property attaching subsequent to the lien of this Deed of Trust. No payment or advance of money by Agent under this Section 12 shall be deemed or construed to cure Mortgagor's default or waive any right or remedy of Agent, 13. Events of Default. The occurrence of an Event of Default under the Credit Agreements or any other Lender Agreement by Mortgagor shall constitute an "Event of Default" hereunder. 14. Remedies. (a) Upan the occurrence and during the continuance of any Event of Default, Agent or Trustee, as applicable, may immediately take such action, without notice or demand, as it deems advisable to protect and enforce its rights against Mortgagor and in and to the Mortgaged Property, including, but not limited to, the following actions, each of which may be pursued concurrently or otherwise, at such time and in such manner as Agent or Trustee, as applicable, may determine, in its sole discretion, without impairing or otherwise affecting the other rights and remedies available to Agent or Trustee hereunder or under applicable law: (i) Agent may, to the extent permitted by applicable law, (A) institute and maintain an action of mortgage foreclosure against all or any part of the Mortgaged Property, either by judicial action or through the Trustee, as provided in 14(b) below, (B) institute and maintain an action on the Credit Agreements, any Guaranty or any other Lender Agreement, (C) sell all or part of the Mortgaged Property (Mortgagor expressly granting to Agent the power of sale), or (D) take such other action at law or in equity for the enforcement of this Deed of Trust or any of the Lender Agreements as the law may allow. Agent may proceed in any such action to final judgment and execution thereon far all sums due hereunder, together with interest thereon at the interest rate as set forth in the Credit Agreements and al] costs of suit, including, without limitation, reasonable attorneys' fees and disbursements. Interest at the interest rate as set forth in the Credit Agreements shall be due on any judgment obtained by Agent from the date of judgment until actual payment is made of the full amount of the judgment; and (ii) To the extent permitted under applicable law, Agent may personally, or by its agents, attorneys and employees, and without regard to the adequacy or inadequacy of the Mortgaged Property or any other collateral as security for the Lender Obligations, enter into and upon the Mortgaged Property and each and every part thereof and exclude Mortgagor and its agents and employees therefrom without liability for trespass, damage or otherwise (Mortgagor hereby agreeing to surrender possession of the Mortgaged Property to Agent upon demand at any such time), and use, operate, manage, maintain and control the Mortgaged Property and every part thereof. Following such entry and taking of possession, Agent shall be entitled, without limitation other than limitations under applicable law, (A) to lease all or any part or parts of the Mortgaged Property for such periods of time and upon such conditions as Agent 1..1BD/1907386.1 9