AND OTHER REPRESENTATIVES OF
LENDER; AND
(V)
EXERCISE SUCH REMEDIES AS ARE AVAILABLE TO LENDER UNDER THE LOAN
INSTRUMENTS OR AT LAW OR IN EQUITY.
Lender shall surrender possession of the Mortgaged Property to Mortgagor only
when all Mortgagor's Liabilities shall have been paid in full and all other
defaults have been cured.
However, the same right to take possession shall
exist if any subsequent Event of Default shall occur.
3.4.
LEASES.
LENDER IS AUTHORIZED TO FORECLOSE THIS MORTGAGE SUBJECT TO
THE RIGHTS, IF ANY, OF ANY OR ALL TENANTS OF THE MORTGAGED PROPERTY, EVEN IF THE
RIGHTS OF ANY SUCH TENANTS ARE OR WOULD BE SUBORDINATE TO THE LIEN OF THIS
MORTGAGE.
LENDER MAY ELECT TO FORECLOSE THE RIGHTS OF SOME SUBORDINATE TENANTS
WHILE FORECLOSING SUBJECT TO THE RIGHTS OF OTHER SUBORDINATE TENANTS.
3.5.
PURCHASE BY LENDER.
UPON ANY FORECLOSURE SALE, LENDER MAY BID FOR
AND PURCHASE ALL OR ANY PORTION OF THE MORTGAGED PROPERTY AND, UPON COMPLIANCE
WITH THE TERMS OF THE SALE, MAY HOLD, RETAIN AND POSSESS AND DISPOSE OF SUCH
PROPERTY IN ITS OWN ABSOLUTE RIGHT WITHOUT FURTHER ACCOUNTABILITY.
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3.6.
APPLICATION OF FORECLOSURE SALE PROCEEDS.
THE PROCEEDS OF ANY
FORECLOSURE SALE OF THE MORTGAGED PROPERTY OR ANY PART THEREOF RECEIVED BY
LENDER SHALL BE APPLIED BY LENDER TO THE INDEBTEDNESS SECURED HEREBY IN SUCH
ORDER AND MANNER AS LENDER MAY ELECT.
3.7.
APPLICATION OF INDEBTEDNESS TOWARD PURCHASE PRICE. UPON ANY
FORECLOSURE SALE, LENDER MAY APPLY ANY OR ALL OF THE INDEBTEDNESS AND OTHER SUMS
DUE TO LENDER UNDER THE GUARANTY, THIS MORTGAGE OR ANY OTHER LOAN INSTRUMENT TO
THE PRICE PAID BY LENDER AT THE FORECLOSURE SALE.
3.8.
WAIVER OF APPRAISEMENT, VALUATION, STAY, EXTENSION AND REDEMPTION
LAWS.
MORTGAGOR HEREBY WAIVES ANY AND ALL RIGHTS OF REDEMPTION.
MORTGAGOR
FURTHER AGREES, TO THE FULL EXTENT PERMITTED BY LAW, THAT IN CASE OF AN EVENT OF
DEFAULT, NEITHER MORTGAGOR NOR ANYONE CLAIMING THROUGH OR UNDER IT WILL SET UP,
CLAIM OR SEEK TO TAKE ADVANTAGE OF ANY REINSTATEMENT, APPRAISEMENT, VALUATION,
STAY OR EXTENSION LAWS NOW OR HEREAFTER IN FORCE, OR TAKE ANY OTHER ACTION WHICH
WOULD PREVENT OR HINDER THE ENFORCEMENT OR FORECLOSURE OF THIS MORTGAGE OR THE
ABSOLUTE SALE OF THE MORTGAGED PROPERTY OR THE FINAL AND ABSOLUTE PUTTING INTO
POSSESSION THEREOF, IMMEDIATELY AFTER SUCH SALE, OF THE PURCHASER THEREAT.
MORTGAGOR, FOR ITSELF AND ALL WHO MAY AT ANY TIME CLAIM THROUGH OR UNDER IT,
HEREBY WAIVES, TO THE FULL EXTENT THAT IT MAY LAWFULLY SO DO, THE BENEFIT OF ALL
SUCH LAWS, AND ANY AND ALL RIGHT TO HAVE THE ASSETS COMPRISING THE MORTGAGED
PROPERTY MARSHALLED UPON ANY FORECLOSURE OF THE LIEN HEREOF AND AGREES THAT
LENDER OR ANY COURT HAVING JURISDICTION TO FORECLOSE SUCH LIEN MAY SELL THE
MORTGAGED PROPERTY IN PART OR AS AN ENTIRETY.
3.9.
RECEIVER - LENDER IN POSSESSION.
IF AN EVENT OF DEFAULT SHALL HAVE
OCCURRED, LENDER, TO THE EXTENT PERMITTED BY LAW AND WITHOUT REGARD TO THE VALUE
OF THE MORTGAGED PROPERTY OR THE ADEQUACY OF THE SECURITY FOR