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<br />Section 3.3 No Liability of Beneficiary. Beneficiary's acceptance of this assignment sha11 not be
<br />deemed to constitute Beneficiary a"mortgagee in possession," nor obligate Beneficiary to appeaz in or defend any
<br />proceeding relating to any Lease or to the Mortgaged Property, or to take any action hereunder, expend any money,
<br />incur any expenses, or perform any obligation or liability under any Lease, or assume any obligation for any deposit
<br />delivered to Trustor by any tenant and not as such delivered to and accepted by Beneficiary. Beneficiary shall not be
<br />liable for any injury or damage to person or prnperty in or about the Mortgaged Properly, or for Beneficiary's failure
<br />to collect or to exercise diligence in collecting Rents, but shall be accountable only for Rents that it shall actually
<br />receive. Neither the assignment of Leases and Rents nor enforcement of Beneficiary's rights regarding Leases and
<br />Rents (including collecrion of Rents) nor possession of the Mortgaged Property by Beneficiary or by a keeper
<br />appointed at Beneficiary's request nor Beneficiary's consent to or approval of any Lease (nor all of the same), sha11
<br />render Beneficiary liable on any obligarion under or with respect to any Lease or constitute affirmarion of, or any
<br />subordination to, any Lease, occupancy, use or option. If Beneficiary seeks or obtains any judicial relief regarding
<br />Rents or Leases, the same shall in no way prevent the concurrent or subsequent employment of any other
<br />appropriate rights or remedies nor shall same constitute an election of judicial relief for any foreclosure or any other
<br />purposes. Beneficiary neither has nor assumes any obligations as lessor or landlord with respect to any Lease. The
<br />rights of Beneficiary under this Article 3 shall be cumulative of all other rights of Beneficiary under the Credit
<br />Documents or otherwise.
<br />ARTICLE 4 - DEFAULT
<br />Section 4.1 Events of Default. The occurrence of anyone of the following shall be a default under
<br />this Deed of Trust (each a"default"):
<br />(a) Failure to Pay Obligations. Any of the Obligations is not timely paid when due, on demand or
<br />otherwise.
<br />(b) Nonperformance of Covenants. Any covenant, agreement or condition herein or in any other
<br />Credit Document (other than covenants otherwise addressed in another paragraph of this Section, such as covenants
<br />to pay the Obligations) is not fully and timely performed, observed or kept, and any such failure under this Deed of
<br />Trust is not cured within forty five (45) days after written notice thereof and any such failure under any other Credit
<br />Document is not cured within the applicable grace period (if any) provided for herein or in such other Credit
<br />Document
<br />(c) Representations. Any statement, representation or warra.nty in any of the Credit Documents, or in
<br />any financial statement or any other writing heretofore or hereafter delivered to Beneficiary in connection with the
<br />Obligations is false, misleading or erroneous in any material respect on the date hereof or on the date as of which
<br />such sta.tement, representation or wazranty is made, and such statement, representation or wa.rranty is not made true
<br />and correct (as of the time such corrective action is taken) within the applicable grace period (if any) provided for in
<br />such Credit Document.
<br />(d) Bankruptcy or Insolvency. The owner of the Mortgaged Property or any person liable, directly
<br />or indirectly, for any of the Obligations (or any guarantor, general partner or joint venturer of such owner or other
<br />person):
<br />(1) (i) Executes an assignment for the benefit of creditors, or talces any action in furtherance
<br />thereof; (ii) admits in writing its inability to pay, or fails to pay, its debts generally as they become due; (iii) as a
<br />debtor, files a petition, case, proceeding or other action pursuant to, or voluntarily seeks the benefit or benefits of:
<br />Title 11 of the United States Code as now or hereafter in effect or any other law, domestic or foreign, as now or
<br />hereafter in effect relating to bankruptcy, insolvency, liquidarion, receivership, reorganization, arrangement,
<br />composition, extension or adjustment of debts, or similaz laws affecting the rights of creditors (Title 11 of the United
<br />States Code and such other laws being herein called "Debtor Relief Laws"), or takes any action in furtherance
<br />thereof; or (iv) seeks the appointment of a receiver, trustee, custodian or liquidator of the Mortgaged Property or any
<br />part thereof or of any significant portion) of its other property; or
<br />(2) Suffers the filing of a petition, case, proceeding or other action against it as a debtor
<br />under any Debtor Relief Law or seeking appointment of a receiver, trustee, custodian or liquidator of the Mortgaged
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