FILING, REGISTERING OR RECORDING THIS SECURITY INSTRUMENT OR FOR FACILITATING
THE SALE AND TRANSFER OF THE LOAN AND THE LOAN DOCUMENTS IN CONNECTION WITH A
SECONDARY MARKET TRANSACTION AS DESCRIBED IN SECTION 9.1 OF THE LOAN AGREEMENT.
UPON FORECLOSURE, THE
APPOINTMENT OF A RECEIVER OR ANY OTHER RELEVANT ACTION, BORROWER SHALL, AT ITS
SOLE COST, COOPERATE FULLY AND COMPLETELY TO EFFECT THE ASSIGNMENT OR TRANSFER
OF ANY LICENSE, PERMIT, AGREEMENT OR ANY OTHER RIGHT NECESSARY OR USEFUL TO THE
OPERATION OF THE PROPERTY.
BORROWER GRANTS TO LENDER AN IRREVOCABLE POWER OF
ATTORNEY COUPLED WITH AN INTEREST FOR THE PURPOSE OF EXERCISING AND PERFECTING
ANY AND ALL RIGHTS AND REMEDIES AVAILABLE TO LENDER AT LAW AND IN EQUITY,
INCLUDING SUCH RIGHTS AND REMEDIES AVAILABLE TO LENDER PURSUANT TO THIS
PARAGRAPH.
NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THE IMMEDIATELY
PRECEDING SENTENCE, LENDER SHALL NOT EXECUTE ANY DOCUMENT AS ATTORNEY-IN-FACT OF
BORROWER UNLESS (X)
BORROWER SHALL HAVE FAILED OR REFUSED TO EXECUTE THE SAME
WITHIN FIVE (5) BUSINESS DAYS AFTER LENDER'S REQUEST THEREFOR, OR (Y) IN
LENDER'S GOOD FAITH DETERMINATION IT WOULD BE MATERIALLY PREJUDICED BY THE DELAY
INVOLVED IN MAKING SUCH A REQUEST.
LENDER SHALL GIVE PROMPT NOTICE TO BORROWER
OF ANY EXERCISE OF THE POWER OF ATTORNEY AS PROVIDED FOR IN THIS PARAGRAPH 7,
ALONG WITH COPIES OF ALL DOCUMENTS EXECUTED IN CONNECTION THEREWITH.
8.
RECORDING OF SECURITY INSTRUMENT, ETC.
BORROWER FORTHWITH UPON THE EXECUTION AND DELIVERY OF THIS SECURITY INSTRUMENT
AND THEREAFTER, FROM TIME TO TIME, SHALL CAUSE THIS SECURITY INSTRUMENT, AND ANY
SECURITY INSTRUMENT CREATING A LIEN OR SECURITY INTEREST OR EVIDENCING THE LIEN
HEREOF UPON THE PROPERTY AND EACH INSTRUMENT OF FURTHER ASSURANCE TO BE FILED,
REGISTERED OR RECORDED IN SUCH MANNER AND IN SUCH PLACES AS MAY BE REQUIRED BY
ANY PRESENT OR FUTURE LAW IN ORDER TO PUBLISH NOTICE OF AND FULLY TO PROTECT THE
LIEN OR SECURITY INTEREST HEREOF UPON, AND THE INTEREST OF LENDER IN, THE
PROPERTY.
BORROWER SHALL PAY ALL FILING, REGISTRATION OR RECORDING FEES, ALL
EXPENSES INCIDENT TO THE PREPARATION, EXECUTION AND ACKNOWLEDGMENT OF AND ALL
FEDERAL, STATE, COUNTY AND MUNICIPAL, TAXES, DUTIES, IMPOSTS, DOCUMENTARY
STAMPS, ASSESSMENTS AND CHARGES ARISING OUT OF OR IN CONNECTION WITH THE
EXECUTION AND DELIVERY OF, THIS SECURITY INSTRUMENT, ANY SECURITY INSTRUMENT
SUPPLEMENTAL HERETO, ANY SECURITY INSTRUMENT WITH RESPECT TO THE PROPERTY OR ANY
INSTRUMENT OF FURTHER ASSURANCE, EXCEPT WHERE PROHIBITED BY LAW SO TO DO.
BORROWER SHALL HOLD HARMLESS AND INDEMNIFY LENDER, ITS SUCCESSORS AND ASSIGNS,
AGAINST ANY LIABILITY INCURRED BY REASON OF THE IMPOSITION OF ANY TAX ON THE
MAKING OR RECORDING OF THIS SECURITY INSTRUMENT.
9.
RIGHT TO CURE DEFAULTS.
UPON THE
OCCURRENCE OF ANY EVENT OF DEFAULT, LENDER MAY, BUT WITHOUT ANY OBLIGATION TO DO
SO AND WITHOUT NOTICE TO OR DEMAND ON BORROWER AND WITHOUT RELEASING BORROWER
FROM ANY OBLIGATION HEREUNDER, PERFORM THE OBLIGATIONS IN DEFAULT IN SUCH MANNER
AND TO SUCH EXTENT AS LENDER MAY DEEM NECESSARY TO PROTECT THE SECURITY HEREOF.
LENDER IS AUTHORIZED TO ENTER UPON THE PROPERTY