PROCEEDING COMMENCED TO RECOVER THE SAME OR TO FORECLOSE THIS
AGREEMENT.
ALL UNPAID AND ACCRUED INTEREST SHALL BE SECURED BY THIS AGREEMENT
AS PART OF THE DEBT.
NOTHING IN THIS SECTION OR IN ANY OTHER PROVISION OF THIS
AGREEMENT SHALL CONSTITUTE AN EXTENSION OF THE TIME FOR PAYMENT OF THE DEBT.
SECTION 3.11.
LATE PAYMENT CHARGE.
IF ANY PORTION OF THE DEBT IS NOT PAID IN
FULL ON OR BEFORE THE DATE ON WHICH IT IS DUE AND PAYABLE HEREUNDER (OTHER THAN
THE PRINCIPAL PORTION OF THE DEBT DUE ON THE MATURITY DATE), BORROWER SHALL PAY
TO LENDER AN AMOUNT EQUAL TO FIVE PERCENT (5%) OF SUCH UNPAID PORTION OF THE
DEBT ("LATE CHARGE") TO DEFRAY THE EXPENSE INCURRED BY LENDER IN HANDLING AND
PROCESSING SUCH DELINQUENT PAYMENT, AND SUCH AMOUNT SHALL CONSTITUTE A PART OF
THE DEBT.
SECTION 3.12.
RECOVERY OF SUMS REQUIRED TO BE PAID.
LENDER SHALL HAVE THE
RIGHT FROM TIME TO TIME TO TAKE ACTION TO RECOVER ANY SUM OR SUMS WHICH
CONSTITUTE A PART OF THE DEBT AS THE SAME BECOME DUE AND PAYABLE HEREUNDER
(AFTER THE EXPIRATION OF ANY GRACE PERIOD OR THE GIVING
42
OF ANY NOTICE HEREIN PROVIDED, IF ANY), WITHOUT REGARD TO WHETHER OR NOT THE
BALANCE OF THE DEBT SHALL BE DUE, AND WITHOUT PREJUDICE TO THE RIGHT OF LENDER
THEREAFTER TO BRING AN ACTION OF FORECLOSURE, OR ANY OTHER ACTION, FOR A DEFAULT
OR DEFAULTS BY BORROWER EXISTING AT THE TIME SUCH EARLIER ACTION WAS COMMENCED.
SECTION 3.13.
CONTROL BY LENDER AFTER DEFAULT.
NOTWITHSTANDING THE APPOINTMENT
OF ANY CUSTODIAN, RECEIVER, LIQUIDATOR OR TRUSTEE OF BORROWER, OR OF ANY OF ITS
PROPERTY, OR OF THE COLLATERAL OR ANY PART THEREOF, TO THE EXTENT PERMITTED BY
LEGAL REQUIREMENTS, LENDER SHALL BE ENTITLED TO OBTAIN POSSESSION AND CONTROL OF
ALL COLLATERAL.
ARTICLE IV.
INDEMNIFICATION
SECTION 4.01.
INDEMNIFICATION COVERING PROPERTY.
IN ADDITION, AND WITHOUT
LIMITATION, TO ANY OTHER PROVISION OF THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT,
BORROWER SHALL PROTECT, INDEMNIFY AND SAVE HARMLESS LENDER AND ITS SUCCESSORS
AND ASSIGNS, AND EACH OF THEIR AGENTS, EMPLOYEES, OFFICERS, DIRECTORS,
STOCKHOLDERS, PARTNERS AND MEMBERS (COLLECTIVELY, "INDEMNIFIED PARTIES") FOR,
FROM AND AGAINST ANY CLAIMS, DEMANDS, PENALTIES, FINES, LIABILITIES,
SETTLEMENTS, DAMAGES, COSTS AND EXPENSES OF WHATEVER KIND OR NATURE, KNOWN OR
UNKNOWN, CONTINGENT OR OTHERWISE, WHETHER INCURRED OR IMPOSED WITHIN OR OUTSIDE
THE JUDICIAL PROCESS, INCLUDING, WITHOUT LIMITATION, REASONABLE ATTORNEYS' FEES
AND DISBURSEMENTS IMPOSED UPON OR INCURRED BY OR ASSERTED AGAINST ANY OF THE
INDEMNIFIED PARTIES BY REASON OF (A) OWNERSHIP OF THIS AGREEMENT OR THE
COLLATERAL; (B) ANY ACCIDENT, INJURY TO OR DEATH OF ANY PERSON OR LOSS OF OR
DAMAGE TO PROPERTY OCCURRING IN, ON OR ABOUT THE PREMISES OR THE COLLATERAL OR
ANY PART THEREOF OR ON THE ADJOINING SIDEWALKS, CURBS, PARKING AREAS, STREETS OR
WAYS; (C) ANY USE, NONUSE OR CONDITION IN, ON OR ABOUT, OR POSSESSION,
ALTERATION, REPAIR, OPERATION, MAINTENANCE OR MANAGEMENT OF, THE PREMISES OR ANY
PART THEREOF OR ON THE ADJOINING SIDEWALKS, CURBS, PARKING AREAS, STREETS OR
WAYS; (D)