THEREOF; OR (IV) BORROWER SHALL TAKE ANY ACTION IN FURTHERANCE OF, OR
INDICATING ITS CONSENT TO, APPROVAL OF, OR ACQUIESCENCE IN, ANY OF THE ACTS SET
FORTH IN CLAUSE (I), (II), OR (III) ABOVE;
(M)
ANY JUDGMENT FOR MONETARY DAMAGES IS ENTERED
AGAINST BORROWER WHICH, IN LENDER'S SOLE JUDGMENT, HAS A MATERIAL ADVERSE EFFECT
OR IS NOT COVERED TO LENDER'S SATISFACTION BY COLLECTIBLE INSURANCE PROCEEDS; OR
(N)
IF A TRANSFER, OTHER THAN A PERMITTED
TRANSFER, OCCURS WITHOUT LENDER'S PRIOR WRITTEN CONSENT OR IN VIOLATION OF THE
TERMS OF LENDER'S CONSENT.
6.2
RIGHTS AND REMEDIES.
UPON THE OCCURRENCE AND
DURING THE CONTINUANCE OF AN EVENT OF DEFAULT, UNLESS SUCH EVENT OF DEFAULT IS
SUBSEQUENTLY WAIVED IN WRITING BY LENDER, LENDER SHALL BE ENTITLED, AT THE
OPTION OF LENDER, TO EXERCISE ANY OR ALL OF THE FOLLOWING RIGHTS AND REMEDIES,
CONSECUTIVELY OR SIMULTANEOUSLY, AND IN ANY ORDER:
(A)
LENDER MAY DECLARE THE ENTIRE UNPAID
PRINCIPAL BALANCE OF THE LOAN AMOUNT TO BE IMMEDIATELY DUE AND PAYABLE, TOGETHER
WITH ACCRUED AND UNPAID INTEREST ON SUCH ADVANCES, WITHOUT NOTICE TO OR DEMAND
ON BORROWER.
(B)
LENDER MAY EXERCISE ANY OR ALL REMEDIES
SPECIFIED HEREIN AND IN THE OTHER LOAN DOCUMENTS, INCLUDING (WITHOUT LIMITING
THE GENERALITY OF THE FOREGOING) THE RIGHT TO FORECLOSE THE DEED OF TRUST,
AND/OR ANY OTHER REMEDIES WHICH IT MAY HAVE THEREFOR AT LAW, IN EQUITY OR UNDER
STATUTE.
(C)
LENDER MAY CURE THE EVENT OF DEFAULT ON
BEHALF OF BORROWER, AND, IN DOING SO, MAY ENTER UPON THE PROPERTY, AND MAY
EXPEND SUCH SUMS AS IT MAY DEEM DESIRABLE, INCLUDING ATTORNEYS' FEES, EVEN
THOUGH CAUSING THE LOAN TO EXCEED THE FACE AMOUNT OF THE NOTE, SHALL BEAR
INTEREST AT THE DEFAULT RATE AND SHALL BE PAYABLE BY BORROWER ON DEMAND.
23
VII.
RESERVED
VIII.
MISCELLANEOUS
8.1
BINDING EFFECT; WAIVERS; CUMULATIVE RIGHTS AND
REMEDIES.
THE PROVISIONS OF THIS AGREEMENT SHALL INURE TO THE BENEFIT OF AND BE
BINDING UPON THE PARTIES HERETO AND THEIR RESPECTIVE HEIRS, EXECUTORS,
ADMINISTRATORS, PERSONAL REPRESENTATIVES, LEGAL REPRESENTATIVES, SUCCESSORS AND
ASSIGNS; PROVIDED, HOWEVER, THAT NEITHER THIS AGREEMENT NOR THE PROCEEDS OF THE
LOAN MAY BE ASSIGNED BY BORROWER VOLUNTARILY, BY OPERATION OF LAW OR OTHERWISE,
WITHOUT THE PRIOR WRITTEN CONSENT OF LENDER, IN LENDER'S SOLE DISCRETION.
NO
DELAY ON THE PART OF LENDER IN EXERCISING ANY RIGHT, REMEDY, POWER OR PRIVILEGE
HEREUNDER SHALL OPERATE AS A WAIVER THEREOF, NOR SHALL ANY SINGLE OR PARTIAL
EXERCISE OF ANY RIGHT, REMEDY, POWER OR PRIVILEGE HEREUNDER CONSTITUTE SUCH A
WAIVER OR EXHAUST THE SAME, ALL OF WHICH SHALL BE CONTINUING.
THE RIGHTS AND
REMEDIES OF LENDER SPECIFIED IN THIS AGREEMENT SHALL BE IN ADDITION TO, AND NOT
EXCLUSIVE OF, ANY OTHER RIGHTS AND REMEDIES WHICH LENDER WOULD OTHERWISE HAVE AT
LAW, IN EQUITY OR BY STATUTE, AND ALL SUCH RIGHTS AND REMEDIES, TOGETHER WITH
LENDER'S RIGHTS AND REMEDIES UNDER THE OTHER LOAN DOCUMENTS, ARE CUMULATIVE AND
MAY BE EXERCISED INDIVIDUALLY, CONCURRENTLY, SUCCESSIVELY AND IN ANY ORDER.
8.2
SURVIVAL.
ALL AGREEMENTS, REPRESENTATIONS AND
WARRANTIES MADE IN THIS AGREEMENT OR ANY