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 PRIOR 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.
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 SECURITY
INSTRUMENT.
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 SECURITY INSTRUMENT 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 LENDER EXTENDING THE TIME OF PAYMENT OR OTHERWISE MODIFYING OR
SUPPLEMENTING THE TERMS OF THE NOTE, THIS SECURITY INSTRUMENT OR THE OTHER LOAN
DOCUMENTS.
(B)
IT IS AGREED THAT THE RISK OF LOSS OR DAMAGE TO THE
PROPERTY IS ON BORROWER, AND LENDER SHALL HAVE NO LIABILITY WHATSOEVER FOR
DECLINE IN VALUE OF THE PROPERTY, FOR FAILURE TO MAINTAIN THE POLICIES, OR FOR
FAILURE TO DETERMINE WHETHER INSURANCE IN FORCE IS ADEQUATE AS TO THE AMOUNT OF
RISKS INSURED.
POSSESSION BY LENDER SHALL NOT BE DEEMED AN ELECTION OF JUDICIAL
RELIEF, IF ANY SUCH POSSESSION IS REQUESTED OR OBTAINED, WITH RESPECT TO ANY
PROPERTY OR COLLATERAL NOT IN LENDER'S POSSESSION.
(C)
UPON AN EVENT OF DEFAULT AND DURING THE CONTINUANCE
THEREOF, LENDER MAY RESORT FOR THE PAYMENT OF THE DEBT TO ANY OTHER SECURITY
HELD BY LENDER IN SUCH ORDER AND MANNER AS LENDER, IN ITS DISCRETION, MAY
ELECT.
UPON AN EVENT OF DEFAULT AND DURING THE CONTINUANCE THEREOF, LENDER MAY
TAKE ACTION TO RECOVER THE DEBT, OR ANY PORTION THEREOF, OR TO ENFORCE ANY
COVENANT HEREOF WITHOUT PREJUDICE TO THE RIGHT OF LENDER THEREAFTER TO FORECLOSE
THIS SECURITY INSTRUMENT.
THE RIGHTS OF LENDER UNDER THIS SECURITY INSTRUMENT
SHALL BE SEPARATE, DISTINCT AND CUMULATIVE AND NONE SHALL BE GIVEN EFFECT TO THE
EXCLUSION OF THE OTHERS.
NO ACT OF LENDER SHALL BE CONSTRUED AS AN ELECTION TO
PROCEED UNDER ANY ONE PROVISION HEREIN TO THE
18
EXCLUSION OF ANY OTHER PROVISION.
LENDER SHALL NOT BE LIMITED EXCLUSIVELY TO
THE RIGHTS AND REMEDIES HEREIN STATED BUT SHALL BE ENTITLED TO EVERY RIGHT AND
REMEDY NOW OR HEREAFTER AFFORDED