CURE OR WAIVER.
NEITHER MORTGAGEE'S NOR ANY RECEIVER'S
ENTRY UPON AND TAKING POSSESSION OF ALL OR ANY PART OF THE SUBJECT PROPERTY AND
COLLATERAL, NOR ANY COLLECTION OF RENTS, ISSUES, PROFITS, INSURANCE PROCEEDS,
CONDEMNATION PROCEEDS OR DAMAGES, OTHER SECURITY OR PROCEEDS OF OTHER SECURITY,
OR OTHER SUMS, NOR THE APPLICATION OF ANY COLLECTED SUM TO ANY SECURED
OBLIGATION, NOR THE EXERCISE OR FAILURE TO EXERCISE OF ANY OTHER RIGHT OR REMEDY
BY MORTGAGEE OR ANY RECEIVER SHALL CURE OR WAIVE ANY BREACH, DEFAULT OR NOTICE
OF DEFAULT UNDER THIS MORTGAGE, OR NULLIFY THE EFFECT OF ANY NOTICE OF DEFAULT
OR SALE (UNLESS ALL SECURED OBLIGATIONS THEN DUE HAVE BEEN PAID AND PERFORMED
AND MORTGAGOR HAS CURED ALL OTHER DEFAULTS), OR IMPAIR THE STATUS OF THE
SECURITY, OR PREJUDICE MORTGAGEE IN THE EXERCISE OF ANY RIGHT OR REMEDY, OR BE
CONSTRUED AS AN AFFIRMATION BY MORTGAGEE OF ANY TENANCY, LEASE OR OPTION OR A
SUBORDINATION OF THE LIEN OF OR SECURITY INTEREST CREATED BY THIS MORTGAGE.
6.11
PAYMENT OF COSTS, EXPENSES AND ATTORNEYS' FEES.
MORTGAGOR
AGREES TO PAY TO MORTGAGEE IMMEDIATELY AND WITHOUT DEMAND ALL REASONABLE COSTS
AND EXPENSES INCURRED BY MORTGAGEE PURSUANT TO THAT CERTAIN SECTION ENTITLED
RIGHTS AND REMEDIES (INCLUDING, WITHOUT LIMITATION, COURT COSTS AND ATTORNEYS'
FEES, WHETHER INCURRED IN LITIGATION OR NOT) WITH INTEREST FROM THE DATE OF
EXPENDITURE UNTIL SAID SUMS HAVE BEEN PAID AT THE RATE OF INTEREST THEN
APPLICABLE TO THE PRINCIPAL BALANCE OF THE NOTES AS SPECIFIED THEREIN OR AS
ALLOWED BY APPLICABLE LAW.
17
6.12
POWER TO FILE NOTICES AND CURE DEFAULTS.
MORTGAGOR HEREBY
IRREVOCABLY APPOINTS MORTGAGEE AND ITS SUCCESSORS AND ASSIGNS, AS ITS
ATTORNEY-IN-FACT, WHICH AGENCY IS COUPLED WITH AN INTEREST, (A) TO EXECUTE
AND/OR RECORD ANY NOTICES OF COMPLETION, CESSATION OF LABOR, OR ANY OTHER
NOTICES THAT MORTGAGEE DEEMS APPROPRIATE TO PROTECT MORTGAGEE'S INTEREST, (B)
UPON THE ISSUANCE OF A DEED PURSUANT TO THE FORECLOSURE OF THE LIEN OF THIS
MORTGAGE OR THE DELIVERY OF A DEED IN LIEU OF FORECLOSURE, TO EXECUTE ALL
INSTRUMENTS OF ASSIGNMENT OR FURTHER ASSURANCE WITH RESPECT TO THE SUBJECT
PROPERTY AND COLLATERAL, LEASES AND PAYMENTS IN FAVOR OF THE GRANTEE OF ANY SUCH
DEED, AS MAY BE NECESSARY OR DESIRABLE FOR SUCH PURPOSE, (C) TO PREPARE, EXECUTE
AND FILE OR RECORD FINANCING STATEMENTS, CONTINUATION STATEMENTS, APPLICATIONS
FOR REGISTRATION AND LIKE PAPERS NECESSARY TO CREATE, PERFECT OR PRESERVE
MORTGAGEE'S SECURITY INTERESTS AND RIGHTS IN OR TO ANY OF THE SUBJECT PROPERTY
AND COLLATERAL, AND (D) UPON THE OCCURRENCE OF AN EVENT, ACT OR OMISSION WHICH,
WITH NOTICE OR PASSAGE OF TIME OR BOTH, WOULD CONSTITUTE A DEFAULT, MORTGAGEE
MAY PERFORM ANY OBLIGATION OF MORTGAGOR HEREUNDER; PROVIDED, HOWEVER, THAT: (I)
MORTGAGEE AS SUCH ATTORNEY-IN-FACT SHALL ONLY BE ACCOUNTABLE FOR SUCH FUNDS AS
ARE ACTUALLY RECEIVED BY MORTGAGEE; AND (II) MORTGAGEE SHALL NOT BE LIABLE TO
MORTGAGOR OR ANY OTHER PERSON OR ENTITY FOR ANY FAILURE TO ACT (WHETHER SUCH
FAILURE CONSTITUTES NEGLIGENCE) BY MORTGAGEE UNDER THIS SECTION.
6.13
REMEDIES CUMULATIVE. ALL RIGHTS AND REMEDIES OF MORTGAGEE