RATE SHALL BE DEEMED TO
CONSTITUTE A PORTION OF THE DEBT AND BE SECURED BY THIS MORTGAGE AND THE OTHER
LOAN DOCUMENTS AND SHALL BE IMMEDIATELY DUE AND PAYABLE UPON DEMAND BY LENDER
THEREFOR.
SECTION 7.4.
ACTIONS AND PROCEEDINGS. LENDER HAS THE RIGHT TO APPEAR
IN AND DEFEND ANY ACTION OR PROCEEDING BROUGHT WITH RESPECT TO THE PROPERTY AND
TO BRING ANY ACTION OR PROCEEDING, IN THE NAME AND ON BEHALF OF BORROWER, WHICH
LENDER, IN ITS DISCRETION, DECIDES SHOULD BE BROUGHT TO PROTECT ITS INTEREST IN
THE PROPERTY.
SECTION 7.5.
RECOVERY OF SUMS REQUIRED TO BE PAID. LENDER SHALL HAVE
THE RIGHT FROM TIME TO TIME TO TAKE ACTION TO RECOVER ANY SUM OR SUMS WHICH
CONSTITUTE A PART OF THE DEBT AS THE SAME BECOME DUE, WITHOUT REGARD TO WHETHER
OR NOT THE BALANCE OF THE DEBT SHALL BE DUE, AND WITHOUT PREJUDICE TO THE RIGHT
OF LENDER THEREAFTER TO BRING AN ACTION OF FORECLOSURE, OR ANY OTHER ACTION, FOR
A DEFAULT OR DEFAULTS BY BORROWER EXISTING AT THE TIME SUCH EARLIER ACTION WAS
COMMENCED.
SECTION 7.6.
EXAMINATION OF BOOKS AND RECORDS. AT REASONABLE TIMES
AND UPON REASONABLE NOTICE, LENDER, ITS AGENTS, ACCOUNTANTS AND ATTORNEYS SHALL
HAVE THE RIGHT TO EXAMINE
17
THE RECORDS, BOOKS, MANAGEMENT AND OTHER PAPERS OF BORROWER WHICH REFLECT UPON
THEIR FINANCIAL CONDITION, AT THE PROPERTY OR AT ANY OFFICE REGULARLY MAINTAINED
BY BORROWER WHERE THE BOOKS AND RECORDS ARE LOCATED. LENDER AND ITS AGENTS SHALL
HAVE THE RIGHT TO MAKE COPIES AND EXTRACTS FROM THE FOREGOING RECORDS AND OTHER
PAPERS. IN ADDITION, AT REASONABLE TIMES AND UPON REASONABLE NOTICE, LENDER, ITS
AGENTS, ACCOUNTANTS AND ATTORNEYS SHALL HAVE THE RIGHT TO EXAMINE AND AUDIT THE
BOOKS AND RECORDS OF BORROWER PERTAINING TO THE INCOME, EXPENSES AND OPERATION
OF THE PROPERTY DURING REASONABLE BUSINESS HOURS AT ANY OFFICE OF BORROWER WHERE
THE BOOKS AND RECORDS ARE LOCATED. THIS SECTION 7.6 SHALL APPLY THROUGHOUT THE
TERM OF THE NOTE AND WITHOUT REGARD TO WHETHER AN EVENT OF DEFAULT HAS OCCURRED
OR IS CONTINUING. THE ACTION CONTEMPLATED BY THIS SECTION 7.6 SHALL BE AT
LENDER'S SOLE COST AND EXPENSE, UNLESS AN EVENT OF DEFAULT SHALL BE CONTINUING,
IN WHICH EVENT SUCH ACTION SHALL BE AT BORROWER'S SOLE COST AND EXPENSE.
SECTION 7.7.
OTHER RIGHTS, ETC.
(A)
THE FAILURE OF LENDER TO INSIST UPON STRICT PERFORMANCE OF ANY
TERM HEREOF SHALL NOT BE DEEMED TO BE A WAIVER OF ANY TERM OF THIS MORTGAGE.
BORROWER SHALL NOT BE RELIEVED OF BORROWER'S OBLIGATIONS HEREUNDER BY REASON OF
(I) THE FAILURE OF LENDER TO COMPLY WITH ANY REQUEST OF BORROWER OR ANY
GUARANTOR OR INDEMNITOR WITH RESPECT TO THE LOAN TO TAKE ANY ACTION TO FORECLOSE
THIS MORTGAGE OR OTHERWISE ENFORCE ANY OF THE PROVISIONS HEREOF OR OF THE NOTE
OR THE OTHER LOAN DOCUMENTS, (II) THE RELEASE, REGARDLESS OF CONSIDERATION, OF
THE WHOLE OR ANY PART OF THE PROPERTY, OR OF ANY PERSON LIABLE FOR THE DEBT OR
ANY PORTION THEREOF, OR (III) ANY AGREEMENT OR STIPULATION BY