OR IN PARCELS OR UNITS AND AT SUCH TIMES AND
PLACE (AT ONE OR MORE SALES) AND UPON SUCH TERMS AS IT MAY DEEM EXPEDIENT UNLESS
PROHIBITED BY LAW FROM SO ACTING.
(D)
RECEIVER.
LENDER MAY APPLY FOR THE APPOINTMENT OF A RECEIVER,
TRUSTEE, LIQUIDATOR OR CONSERVATOR OF THE PROPERTY, WITHOUT REGARD FOR THE
ADEQUACY OF THE SECURITY FOR THE DEBT OR A SHOWING OF INSOLVENCY, FRAUD OR
MISMANAGEMENT ON THE PART OF BORROWER.
ANY RECEIVER OR OTHER PARTY SO APPOINTED
HAS ALL POWERS PERMITTED BY LAW WHICH MAY BE NECESSARY OR USUAL IN SUCH CASES
FOR THE PROTECTION, POSSESSION, CONTROL, MANAGEMENT AND OPERATION OF THE
PROPERTY.
BORROWER HEREBY CONSENTS, TO THE EXTENT PERMITTED UNDER APPLICABLE
LAW, TO THE APPOINTMENT OF A RECEIVER OR TRUSTEE OF THE PROPERTY UPON LENDER'S
REQUEST IF AN EVENT OF DEFAULT HAS OCCURRED.
AT LENDER'S OPTION, SUCH RECEIVER
OR TRUSTEE SHALL SERVE WITHOUT ANY REQUIREMENT OF POSTING A BOND.
(E)
RECOVERY OF POSSESSION.
LENDER MAY ENTER INTO OR UPON THE
PROPERTY, EITHER PERSONALLY OR BY ITS AGENTS, AND DISPOSSESS AND EXCLUDE
BORROWER AND ITS AGENTS AND SERVANTS THEREFROM (WITHOUT LIABILITY FOR TRESPASS,
DAMAGES OR OTHERWISE), AND TAKE POSSESSION OF ALL BOOKS, RECORDS AND ACCOUNTS
RELATING TO THE PROPERTY, AND BORROWER AGREES TO SURRENDER POSSESSION OF THE
PROPERTY AND ALL OTHER PROPERTY, INCLUDING WITHOUT LIMITATION, ALL DOCUMENTS,
BOOKS, RECORDS AND ACCOUNTS RELATING TO THE PROPERTY, TO LENDER UPON DEMAND.
AS
A
65
MORTGAGEE-IN-POSSESSION OF THE PROPERTY, LENDER SHALL HAVE ALL RIGHTS AND
REMEDIES PERMITTED BY LAW OR IN EQUITY TO A MORTGAGEE-IN-POSSESSION, INCLUDING,
WITHOUT LIMITATION, THE RIGHT TO CHARGE BORROWER THE FAIR AND REASONABLE RENTAL
VALUE FOR BORROWER'S USE AND OCCUPATION OF ANY PART OF THE PROPERTY THAT MAY BE
OCCUPIED OR USED BY BORROWER AND THE RIGHT TO EXERCISE ALL RIGHTS AND POWERS OF
BORROWER WITH RESPECT TO THE PROPERTY, WHETHER IN THE NAME OF BORROWER OR
OTHERWISE (INCLUDING, WITHOUT LIMITATION, THE RIGHT TO MAKE, CANCEL, ENFORCE OR
MODIFY LEASES, OBTAIN AND EVICT TENANTS, AND DEMAND, SUE FOR, COLLECT AND
RECEIVE ALL RENTS OF THE PROPERTY).
(F)
UCC REMEDIES.
LENDER MAY EXERCISE WITH RESPECT TO THE PROPERTY,
EACH RIGHT, POWER OR REMEDY GRANTED TO A SECURED PARTY UNDER THE UCC, INCLUDING,
WITHOUT LIMITATION, (I) THE RIGHT TO TAKE POSSESSION OF THE PROPERTY AND TO TAKE
SUCH OTHER MEASURES AS LENDER DEEMS NECESSARY FOR THE CARE, PROTECTION AND
PRESERVATION OF THE PROPERTY, AND (II) THE RIGHT TO REQUIRE THAT BORROWER, AT
ITS EXPENSE, ASSEMBLE THE PROPERTY AND MAKE IT AVAILABLE TO LENDER AT A
CONVENIENT PLACE ACCEPTABLE TO LENDER.
ANY NOTICE OF SALE, DISPOSITION OR OTHER
INTENDED ACTION BY LENDER WITH RESPECT TO THE PROPERTY SENT TO BORROWER IN
ACCORDANCE WITH THE PROVISIONS HEREOF AT LEAST TEN (10) DAYS PRIOR TO SUCH
ACTION, SHALL CONSTITUTE REASONABLE NOTICE TO BORROWER.
LENDER SHALL NOT HAVE
ANY OBLIGATION TO CLEAN-UP OR OTHERWISE PREPARE THE PROPERTY FOR SALE.
(G)
APPLY FUNDS IN RESERVE ACCOUNTS.
LENDER MAY APPLY ANY FUNDS THEN
DEPOSITED IN ANY OR ALL OF THE RESERVE ACCOUNTS