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 LENDER EXTENDING THE TIME OF PAYMENT OR OTHERWISE MODIFYING OR
SUPPLEMENTING THE TERMS OF THE NOTE, THIS MORTGAGE 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)
LENDER OR TRUSTEE MAY RESORT FOR THE
PAYMENT OF THE DEBT TO ANY OTHER SECURITY HELD BY LENDER OR TRUSTEE IN SUCH
ORDER AND MANNER AS LENDER, IN ITS DISCRETION, MAY ELECT. LENDER OR TRUSTEE
MAY TAKE ACTION TO RECOVER THE DEBT, OR ANY PORTION THEREOF, OR TO ENFORCE ANY
COVENANT HEREOF WITHOUT PREJUDICE TO THE RIGHT OF LENDER OR TRUSTEE THEREAFTER
TO FORECLOSE THIS MORTGAGE. THE RIGHTS OF LENDER OR TRUSTEE UNDER THIS MORTGAGE
SHALL BE SEPARATE, DISTINCT AND CUMULATIVE AND NONE SHALL BE GIVEN EFFECT TO THE
EXCLUSION OF THE OTHERS. NO ACT OF LENDER OR TRUSTEE SHALL BE CONSTRUED AS AN
ELECTION TO PROCEED UNDER ANY ONE PROVISION HEREIN TO THE EXCLUSION OF ANY OTHER
PROVISION. LENDER OR TRUSTEE 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 AT LAW OR IN EQUITY.
SECTION 7.8.
RIGHT TO RELEASE ANY PORTION OF
THE PROPERTY. LENDER MAY RELEASE ANY PORTION OF THE PROPERTY FOR SUCH
CONSIDERATION AS LENDER MAY REQUIRE WITHOUT, AS TO THE REMAINDER OF THE
PROPERTY, IN ANY WAY IMPAIRING OR AFFECTING THE LIEN OR PRIORITY OF THIS
MORTGAGE, OR IMPROVING THE POSITION OF ANY SUBORDINATE LIENHOLDER WITH RESPECT
THERETO, EXCEPT TO THE EXTENT THAT THE OBLIGATIONS HEREUNDER SHALL HAVE BEEN
REDUCED BY THE ACTUAL MONETARY CONSIDERATION, IF ANY, RECEIVED BY LENDER FOR
SUCH RELEASE, AND