TO WHICH
APPOINTMENT BORROWER DOES HEREBY CONSENT AND SUCH RECEIVER OR OTHER OFFICIAL
SHALL HAVE ALL RIGHTS AND POWERS PERMITTED BY APPLICABLE LAW AND SUCH OTHER
RIGHTS AND POWERS AS THE COURT MAKING SUCH APPOINTMENT MAY CONFER, BUT THE
APPOINTMENT OF SUCH RECEIVER OR OTHER OFFICIAL SHALL NOT IMPAIR OR IN ANY MANNER
PREJUDICE THE RIGHTS OF LENDER TO RECEIVE THE RENT WITH RESPECT TO ANY OF THE
PROPERTY PURSUANT TO THIS SECURITY INSTRUMENT OR THE ASSIGNMENT; OR (X) REQUIRE,
AT LENDER'S OPTION, BORROWER TO PAY MONTHLY IN ADVANCE TO LENDER, OR ANY
RECEIVER APPOINTED TO COLLECT THE RENTS, THE FAIR AND REASONABLE RENTAL VALUE
FOR THE USE AND OCCUPATION OF ANY PORTION OF THE PROPERTY OCCUPIED BY BORROWER
AND MAY REQUIRE BORROWER TO VACATE AND SURRENDER POSSESSION TO LENDER OF THE
PROPERTY OR TO SUCH RECEIVER AND BORROWER MAY BE EVICTED BY SUMMARY PROCEEDINGS
OR OTHERWISE; OR (XI) WITHOUT NOTICE TO BORROWER (A) APPLY ALL OR ANY PORTION OF
THE CASH COLLATERAL IN ANY SUB-ACCOUNT AND ESCROW ACCOUNT, INCLUDING ANY
INTEREST AND/OR EARNINGS THEREIN, TO CARRY OUT THE OBLIGATIONS OF BORROWER UNDER
THIS SECURITY INSTRUMENT AND THE OTHER LOAN DOCUMENTS, TO PROTECT AND PRESERVE
THE PROPERTY AND FOR ANY OTHER PURPOSE PERMITTED UNDER THIS SECURITY INSTRUMENT
AND THE OTHER LOAN DOCUMENTS AND/OR (B) HAVE ALL OR ANY PORTION OF SUCH CASH
COLLATERAL IMMEDIATELY PAID TO LENDER TO BE APPLIED AGAINST THE DEBT IN THE
ORDER AND PRIORITY SET FORTH IN THE NOTE; OR (XII) PURSUE ANY OR ALL SUCH OTHER
RIGHTS OR REMEDIES AS LENDER AND TRUSTEE MAY HAVE UNDER APPLICABLE LAW OR IN
EQUITY; PROVIDED, HOWEVER, THAT THE PROVISIONS OF THIS SECTION 13.02(A) SHALL
NOT BE CONSTRUED TO EXTEND OR MODIFY ANY OF THE NOTICE REQUIREMENTS OR GRACE
PERIODS PROVIDED FOR HEREUNDER OR UNDER ANY OF THE OTHER LOAN DOCUMENTS.
BORROWER HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LEGAL REQUIREMENTS,
ANY DEFENSE BORROWER MIGHT OTHERWISE RAISE OR HAVE BY THE FAILURE TO MAKE ANY
TENANTS PARTIES DEFENDANT TO A FORECLOSURE PROCEEDING AND TO FORECLOSE THEIR
RIGHTS IN ANY PROCEEDING INSTITUTED BY LENDER OR TRUSTEE.
(B)
TO THE EXTENT NOT PROHIBITED BY LAW, ANY TIME AFTER AND DURING THE
CONTINUANCE OF AN EVENT OF DEFAULT, TRUSTEE, AT THE REQUEST OF LENDER, SHALL
HAVE THE POWER TO SELL THE PROPERTY OR ANY PART THEREOF AT PUBLIC AUCTION, IN
SUCH MANNER, AT SUCH TIME AND PLACE, UPON SUCH TERMS
88
AND CONDITIONS, AND UPON SUCH PUBLIC NOTICE AS LENDER MAY DEEM BEST FOR THE
INTEREST OF LENDER, OR AS MAY BE REQUIRED OR PERMITTED BY APPLICABLE LAW,
CONSISTING OF ADVERTISEMENT IN A NEWSPAPER OF GENERAL CIRCULATION IN THE
JURISDICTION AND FOR SUCH PERIOD AS APPLICABLE LAW MAY REQUIRE AND AT SUCH OTHER
TIMES AND BY SUCH OTHER METHODS, IF ANY, AS MAY BE REQUIRED BY LAW TO CONVEY THE
PROPERTY IN FEE SIMPLE BY TRUSTEE'S DEED WITH SPECIAL WARRANTY OF TITLE TO AND
AT THE COST OF THE PURCHASER, WHO SHALL NOT BE LIABLE TO SEE TO THE APPLICATION