LENDER EXTENDING
THE TIME OF PAYMENT OR OTHERWISE MODIFYING OR SUPPLEMENTING THE TERMS OF THE
NOTE, THIS MORTGAGE OR THE OTHER LOAN DOCUMENTS.
(B)
IT IS AGREED THAT THE RISK OF LOSS OR DAMAGE TO THE PROPERTY IS ON
BORROWER, AND LENDER SHALL HAVE NO LIABILITY WHATSOEVER FOR DECLINE IN VALUE OF
THE PROPERTY, FOR FAILURE TO MAINTAIN THE POLICIES, OR FOR FAILURE TO DETERMINE
WHETHER INSURANCE IN FORCE IS ADEQUATE AS TO THE AMOUNT OF RISKS INSURED.
POSSESSION BY LENDER SHALL NOT BE DEEMED AN ELECTION OF JUDICIAL RELIEF, IF ANY
SUCH POSSESSION IS REQUESTED OR OBTAINED, WITH RESPECT TO ANY PROPERTY OR
COLLATERAL NOT IN LENDER'S POSSESSION.
(C)
LENDER MAY RESORT FOR THE PAYMENT OF THE DEBT TO ANY OTHER
SECURITY HELD BY LENDER IN SUCH ORDER AND MANNER AS LENDER, IN ITS DISCRETION,
MAY ELECT. LENDER MAY TAKE ACTION TO RECOVER THE DEBT, OR ANY PORTION THEREOF,
OR TO ENFORCE ANY COVENANT HEREOF WITHOUT PREJUDICE TO THE RIGHT OF LENDER
THEREAFTER TO FORECLOSE THIS MORTGAGE. THE RIGHTS OF LENDER UNDER THIS MORTGAGE
SHALL BE SEPARATE, DISTINCT AND CUMULATIVE AND NONE SHALL BE GIVEN EFFECT TO THE
EXCLUSION OF THE OTHERS. NO ACT OF LENDER SHALL BE CONSTRUED AS AN ELECTION TO
PROCEED UNDER ANY ONE PROVISION HEREIN TO THE EXCLUSION OF ANY OTHER PROVISION.
LENDER SHALL NOT BE LIMITED EXCLUSIVELY TO THE RIGHTS AND REMEDIES HEREIN STATED
BUT SHALL BE ENTITLED TO EVERY RIGHT AND REMEDY NOW OR HEREAFTER AFFORDED AT LAW
OR IN EQUITY.
SECTION 7.8.
RIGHT TO RELEASE ANY PORTION OF THE PROPERTY. LENDER MAY
RELEASE ANY PORTION OF THE PROPERTY FOR SUCH CONSIDERATION AS LENDER MAY REQUIRE
WITHOUT, AS TO THE REMAINDER OF THE PROPERTY, IN ANY WAY IMPAIRING OR AFFECTING
THE LIEN OR PRIORITY OF THIS MORTGAGE, OR IMPROVING THE POSITION OF ANY
SUBORDINATE LIENHOLDER WITH RESPECT THERETO, EXCEPT TO THE EXTENT THAT THE
OBLIGATIONS HEREUNDER SHALL HAVE BEEN REDUCED BY THE ACTUAL MONETARY
CONSIDERATION, IF ANY, RECEIVED BY LENDER FOR SUCH RELEASE, AND MAY ACCEPT BY
ASSIGNMENT, PLEDGE OR OTHERWISE ANY
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OTHER PROPERTY IN PLACE THEREOF AS LENDER MAY REQUIRE WITHOUT BEING ACCOUNTABLE
FOR SO DOING TO ANY OTHER LIENHOLDER. THIS MORTGAGE SHALL CONTINUE AS A LIEN AND
SECURITY INTEREST IN THE REMAINING PORTION OF THE PROPERTY.
SECTION 7.9.
VIOLATION OF LAWS. IF THE PROPERTY IS NOT IN MATERIAL
COMPLIANCE WITH LEGAL REQUIREMENTS, LENDER MAY IMPOSE ADDITIONAL REQUIREMENTS
UPON BORROWER IN CONNECTION HEREWITH INCLUDING, WITHOUT LIMITATION, MONETARY
RESERVES OR FINANCIAL EQUIVALENTS.
SECTION 7.10.
RECOURSE AND CHOICE OF REMEDIES. NOTWITHSTANDING ANY
OTHER PROVISION OF THIS MORTGAGE OR THE LOAN AGREEMENT, INCLUDING, WITHOUT
LIMITATION, SECTION 9.4 OF THE LOAN AGREEMENT, LENDER AND OTHER INDEMNIFIED
PARTIES (AS HEREINAFTER DEFINED) ARE ENTITLED TO ENFORCE THE OBLIGATIONS OF
BORROWER, ANY GUARANTOR OR INDEMNITOR CONTAINED IN SECTIONS 9.2, 9.3 AND 9.4
HEREIN AND SECTION 9.4 OF THE LOAN AGREEMENT WITHOUT FIRST RESORTING TO OR
EXHAUSTING ANY SECURITY OR COLLATERAL AND WITHOUT FIRST HAVING RECOURSE TO THE
NOTE OR ANY OF THE PROPERTY, THROUGH FORECLOSURE OR ACCEPTANCE