201108089
<br /> Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such
<br /> discontinuance or abandonment shall waive any Event of Default which may then exist or the right of
<br /> Trustee, Beneficiary or any other Secured Party thereafter to exercise any right, remedy or recourse under
<br /> the Loan Documents for such Event of Default.
<br /> Section 5.7 Apulication of Proceeds. The proceeds of any sale of, and the Rents
<br /> and other amounts generated by the holding, leasing, management, operation or other use of the
<br /> Mortgaged Property shall be applied by Beneficiary or Trustee (or the receiver, if one is appointed) in
<br /> accordance with Section 4.1 of the Intercreditor Agreement.
<br /> Section 5.8 Occupancv After Foreclosure. Any sale of the Mortgaged Property or
<br /> any part thereof in accordance with Section 5.1(d) will divest all right, title and interest of Grantor in and
<br /> to the property sold. Subject to applicable law, any purchaser at a foreclosure sale will receive immediate
<br /> possession of the properiy purchased. If Grantor retains possession of such property or any part thereof
<br /> subseyuent to such sale, Grantor will be considered a tenant at sufferance of the purchaser, and will, if
<br /> Grantor remains in possession after demand to remove, be subject to eviction and removal, forcible or
<br /> otherwise, with or without process of law.
<br /> Section 5.9 Additional Advances and Disbursements; Costs of Enforcement.
<br /> (a) Upon the occurrence and during the continuance of any Event of Default,
<br /> Beneficiary and each of the other Secured Parties shall have the right, but not the obligation, to cure such
<br /> Event of Default in the name and on behalf of Grantor. All sums advanced and expenses incurred at any
<br /> time by Beneficiary or any other Secured Party under this Section 5.9, or otherwise under this Deed of
<br /> Trust or any of the other Loan Documents or applicable law, shall bear interest from the date that such
<br /> sum is advanced or expense incurred,to and including the date of reimbursement,computed at the highest
<br /> rate at which interest is then computed on any portion of the Indebtedness, and all such sums, together
<br /> with interest thereon, shall be secured by this Deed of Trust.
<br /> (b) Grantor shall pay all expenses (including reasonable attorneys' fees and
<br /> expenses) of or incidental to the perfection and enforcement of this Deed of Trust and the other Loan
<br /> Documents, or the enforcement, compromise or settlement of the Indebtedness or any claim under this
<br /> Deed of Trust and the other Loan Documents, and for the curing thereof, or for defending or asserting the
<br /> rights and claims of Beneficiary in respect thereof, by litigation or otherwise.
<br /> Section 5.10 No Beneficiary in Possession. Neither the enforcement of any of the
<br /> remedies under this Article 5, the assignment of the Rents and Leases under Article 6, the security
<br /> interests under Article 7, nor any other remedies afforded to Beneficiary under the Loan Documents, at
<br /> law or in equity shall cause Trustee, Beneficiary or any other Secured Pariy to be deemed or construed to
<br /> be a mortgagee in possession of the Mortgaged Property, to obligate Trustee, Beneficiary or any other
<br /> Secured Party to lease the Mortgaged Property or attempt to do so, or to take any action, incur any
<br /> expense, or perform or discharge any obligation, duty or liability whatsoever under any of the Leases or
<br /> otherwise.
<br /> ARTICLE 6
<br /> ASSIGNMENT OF RENTS AND LEASES
<br /> Section 6.1 Assi�nment. In furtherance of and in addition to the assignment made
<br /> by Grantor in Sections 2.1 of this Deed of Trust, Grantor hereby absolutely and unconditionally assigns,
<br /> sells, transfers and conveys to Trustee(for the benefit of Beneficiary)and to Beneficiary, on behalf of the
<br /> Secured Parties, all of its right, title and interest in and to all Leases, whether now existing or hereafter
<br /> 6
<br /> 5 09265-1598-00754-Acti ve.12645 846.2
<br />
|