AND REMEDIES
AVAILABLE PURSUANT TO A FORECLOSURE OF REAL ESTATE.
7.6
DUE ON SALE OR MORTGAGING, ETC.
IN THE
EVENT OF A TRANSFER (AS DEFINED BELOW) WITHOUT THE WRITTEN CONSENT OF THE LENDER
BEING FIRST OBTAINED, WHETHER VOLUNTARILY, INVOLUNTARILY, OR BY OPERATION OF
LAW, THEN AT THE SOLE OPTION OF THE LENDER, THE LENDER MAY UPON NOTICE TO THE
BORROWER DECLARE THE ENTIRE PRINCIPAL BALANCE TOGETHER WITH ACCRUED INTEREST,
DUE AND PAYABLE IN FULL.
ANY SUCH PAYMENT SHALL BE SUBJECT TO THE REQUIREMENTS,
IF ANY, IN THE NOTE PROVIDING FOR THE PAYMENT OF A PREPAYMENT PREMIUM IN THE
EVENT OF A NON-PERMITTED TRANSFER.
A CONSENT BY THE LENDER AS TO ANY ONE
TRANSFER SHALL NOT BE DEEMED TO BE A WAIVER OF THE RIGHT TO REQUIRE CONSENT TO A
FUTURE TRANSFER.
AS USED HEREIN, THE TERM "TRANSFER" SHALL INCLUDE ANY SALE,
PLEDGE, ASSIGNMENT, MORTGAGE, ENCUMBRANCE, SECURITY INTEREST, CONSENSUAL LIEN,
HYPOTHECATION, TRANSFER OR DIVESTURE OR OTHERWISE OF OR IN I) THE BORROWER'S
LEGAL OR EQUITABLE INTEREST IN THE PREMISES OR II) THE BORROWER, EITHER DIRECTLY
OR INDIRECTLY, INCLUDING AN INTEREST TAKEN AS SECURITY; WHETHER OR NOT OF RECORD
AND WHETHER OR NOT FOR CONSIDERATION SHALL BE DEEMED A TRANSFER.
7.7
RIGHTS CUMULATIVE.
EACH RIGHT, POWER OR
REMEDY HEREIN CONFERRED UPON THE LENDER IS CUMULATIVE AND IN ADDITION TO EVERY
OTHER RIGHT, POWER OR REMEDY, EXPRESS OR IMPLIED, NOW OR HEREAFTER ARISING,
AVAILABLE TO LENDER, AT LAW OR IN EQUITY, OR UNDER ANY OTHER AGREEMENT, AND EACH
AND EVERY RIGHT, POWER AND REMEDY HEREIN SET FORTH OR OTHERWISE SO EXISTING MAY
BE EXERCISED FROM TIME TO TIME AS OFTEN AND IN SUCH ORDER AS MAY BE DEEMED
EXPEDIENT BY THE LENDER AND SHALL NOT BE A WAIVER OF THE RIGHT TO EXERCISE AT
ANY TIME THEREAFTER ANY OTHER RIGHT, POWER OR REMEDY.
NO DELAY OR OMISSION BY
THE LENDER IN THE EXERCISE OF ANY RIGHT, POWER OR REMEDY ARISING HEREUNDER OR
ARISING OTHERWISE SHALL IMPAIR ANY SUCH RIGHT, POWER OR REMEDY OR THE RIGHT OF
THE LENDER TO RESORT THERETO AT A LATER DATE OR BE CONSTRUED TO BE A WAIVER OF
ANY DEFAULT OR EVENT OF DEFAULT UNDER THIS MORTGAGE OR THE NOTE.
7.8
RIGHT TO DISCONTINUE PROCEEDINGS.
IN THE
EVENT LENDER SHALL HAVE PROCEEDED TO INVOKE ANY RIGHT, REMEDY OR RECOURSE
PERMITTED UNDER THIS MORTGAGE AND SHALL THEREAFTER ELECT TO DISCONTINUE OR
ABANDON THE SAME FOR ANY REASON, LENDER SHALL HAVE THE UNQUALIFIED RIGHT TO DO
SO AND IN SUCH EVENT BORROWER AND LENDER SHALL BE RESTORED TO THEIR FORMER
POSITIONS WITH RESPECT TO THE INDEBTEDNESS SECURED HEREBY.
THIS MORTGAGE, THE
PREMISES AND ALL RIGHTS, REMEDIES AND RECOURSE OF THE LENDER SHALL CONTINUE AS
IF THE SAME HAD NOT BEEN INVOKED.
7.9
ACKNOWLEDGMENT OF WAIVER OF HEARING BEFORE
SALE.
BORROWER UNDERSTANDS AND AGREES THAT IF ANY EVENT OF DEFAULT IS MADE
UNDER THE TERMS OF THIS MORTGAGE, LENDER HAS THE RIGHT, INTER ALIA, TO FORECLOSE
THIS MORTGAGE PURSUANT TO SDCL CHAPTERS 21-47, 21-48 AND 21-48A, AS HEREAFTER
AMENDED, OR PURSUANT