PROVIDED HEREUNDER ARE CUMULATIVE AND ARE IN ADDITION TO ALL RIGHTS AND REMEDIES
PROVIDED BY APPLICABLE LAW (INCLUDING SPECIFICALLY THAT OF FORECLOSURE OF THIS
MORTGAGE) OR IN THIS MORTGAGE OR IN ANY OTHER AGREEMENTS BETWEEN MORTGAGOR AND
MORTGAGEE.
NO FAILURE ON THE PART OF MORTGAGEE TO EXERCISE ANY OF ITS RIGHTS
HEREUNDER ARISING UPON ANY DEFAULT SHALL BE CONSTRUED TO PREJUDICE ITS RIGHTS
UPON THE OCCURRENCE OF ANY OTHER OR SUBSEQUENT DEFAULT.
NO DELAY ON THE PART OF
MORTGAGEE IN EXERCISING ANY SUCH RIGHTS SHALL BE CONSTRUED TO PRECLUDE IT FROM
THE EXERCISE THEREOF AT ANY TIME WHILE THAT DEFAULT IS CONTINUING.
MORTGAGEE
MAY ENFORCE ANY ONE OR MORE REMEDIES OR RIGHTS HEREUNDER SUCCESSIVELY OR
CONCURRENTLY.
BY ACCEPTING PAYMENT OR PERFORMANCE OF ANY OF THE SECURED
OBLIGATIONS AFTER ITS DUE DATE, MORTGAGEE SHALL NOT THEREBY WAIVE THE AGREEMENT
CONTAINED HEREIN THAT TIME IS OF THE ESSENCE, NOR SHALL MORTGAGEE WAIVE EITHER
ITS RIGHT TO REQUIRE PROMPT PAYMENT OR PERFORMANCE WHEN DUE OF THE REMAINDER OF
THE SECURED OBLIGATIONS OR ITS RIGHT TO CONSIDER THE FAILURE TO SO PAY OR
PERFORM A DEFAULT.
ARTICLE 7.
STATE-SPECIFIC PROVISIONS
7.1
PRINCIPAL OF CONSTRUCTION.
IN THE EVENT OF ANY
INCONSISTENCIES BETWEEN THE TERMS AND CONDITIONS OF THIS ARTICLE 7 AND THE OTHER
TERMS AND CONDITIONS OF THIS MORTGAGE, THE TERMS AND CONDITIONS OF THIS ARTICLE
7 SHALL CONTROL AND BE BINDING.
7.2
REMEDIES.
WITHOUT LIMITING ANY OTHER REMEDIES
AVAILABLE UNDER THIS MORTGAGE, UNDER ANY OF THE OTHER LOAN DOCUMENTS OR UNDER
APPLICABLE LAW, FOLLOWING A DEFAULT HEREUNDER THAT IS CONTINUING, MORTGAGEE
SHALL BE ENTITLED TO EXERCISE ANY REMEDIES AVAILABLE UNDER HAWAII REVISED
STATUTES CHAPTER 667, INCLUDING, WITHOUT LIMITATION, A POWER OF SALE FORECLOSURE
PURSUANT TO SUCH CHAPTER 667.
7.3
INSURANCE.
NOTICE IS HEREBY GIVEN BY MORTGAGEE TO
MORTGAGOR THAT MORTGAGEE MAY NOT CONDITION THE GRANTING OF THE LOAN SECURED BY
THIS MORTGAGE ON MORTGAGOR PROCURING ANY INSURANCE THAT MORTGAGOR IS REQUIRED TO
OBTAIN UNDER THIS MORTGAGE OR UNDER ANY OF THE OTHER LOAN DOCUMENTS FROM ANY
SPECIFIC INSURANCE COMPANY OR ASSOCIATION DESIGNATED BY MORTGAGEE.
7.4
OTHER.
THIS MORTGAGE SHALL BE DEEMED TO BE AND SHALL
BE CONSTRUED AS A MORTGAGE OF REAL PROPERTY AS WELL AS A SECURITY AGREEMENT,
FINANCING STATEMENT, FIXTURE FILING AND ASSIGNMENT
18
OF LEASES AND RENTS.
MORTGAGOR IS, FOR THE PURPOSE OF THIS MORTGAGE, DEEMED TO
BE THE "DEBTOR", AND MORTGAGEE IS DEEMED TO BE THE "SECURED PARTY", AS THOSE
TERMS ARE USED IN THE UNIFORM COMMERCIAL CODE.
THE ADDRESSES OF THE SECURED
PARTY AND THE DEBTOR, FROM WHICH INFORMATION CONCERNING THE SECURITY AGREEMENT
MAY BE OBTAINED, ARE SET FORTH IN THE INITIAL PARAGRAPH OF THIS MORTGAGE.
ARTICLE 8.
MISCELLANEOUS PROVISIONS
8.1
ADDITIONAL PROVISIONS.
THE LOAN DOCUMENTS CONTAIN OR
INCORPORATE BY REFERENCE THE ENTIRE AGREEMENT OF THE PARTIES WITH RESPECT TO
MATTERS CONTEMPLATED HEREIN AND SUPERSEDE ALL PRIOR NEGOTIATIONS.
THE LOAN
DOCUMENTS GRANT FURTHER RIGHTS TO MORTGAGEE AND CONTAIN FURTHER AGREEMENTS AND
AFFIRMATIVE AND NEGATIVE COVENANTS BY MORTGAGOR WHICH APPLY TO THIS MORTGAGE AND
TO THE SUBJECT PROPERTY AND