THE NOTE;
(V)
ALL OTHER
SUMS PAYABLE PURSUANT TO THE NOTE, THE LOAN AGREEMENT, THIS MORTGAGE AND THE
OTHER LOAN DOCUMENTS, INCLUDING WITHOUT LIMITATION ADVANCES MADE BY MORTGAGEE
PURSUANT TO THE TERMS OF THIS MORTGAGE;
(L)
PURSUE SUCH OTHER REMEDIES AS MORTGAGEE MAY HAVE UNDER APPLICABLE LAW;
AND/OR
(M) APPLY THE UNDISBURSED BALANCE OF ANY DEFICIENCY DEPOSIT, TOGETHER WITH
INTEREST THEREON, TO THE PAYMENT OF THE INDEBTEDNESS IN SUCH ORDER, PRIORITY AND
PROPORTIONS AS MORTGAGEE SHALL DEEM TO BE APPROPRIATE IN ITS DISCRETION.
In the event of a sale, by foreclosure, power of sale or otherwise, of less than
all of the Property, this Mortgage shall continue as a Lien and security
interest on the remaining portion of the Property unimpaired and without loss of
priority.
SECTION 7.2
APPLICATION OF PROCEEDS.
THE PURCHASE MONEY, PROCEEDS AND
AVAILS OF ANY DISPOSITION OF THE PROPERTY, AND OR ANY PART THEREOF, OR ANY OTHER
SUMS COLLECTED BY MORTGAGEE PURSUANT TO THE NOTE, THIS MORTGAGE OR THE OTHER
LOAN DOCUMENTS, MAY BE APPLIED BY MORTGAGEE TO THE PAYMENT OF THE INDEBTEDNESS
IN SUCH PRIORITY AND PROPORTIONS AS MORTGAGEE IN ITS DISCRETION SHALL DEEM
PROPER.
SECTION 7.3
RIGHT TO CURE DEFAULTS.
UPON THE OCCURRENCE AND DURING THE
CONTINUANCE OF ANY EVENT OF DEFAULT OR IF MORTGAGOR FAILS TO MAKE ANY PAYMENT OR
TO DO ANY ACT AS REQUIRED TO BE MADE OR DONE BY IT PURSUANT TO THE TERMS HEREOF
UPON THE EXPIRATION OF ANY GRACE OR CURE PERIOD, MORTGAGEE MAY, BUT WITHOUT ANY
OBLIGATION TO DO SO AND WITHOUT NOTICE TO OR DEMAND ON MORTGAGOR AND WITHOUT
RELEASING MORTGAGOR FROM ANY OBLIGATION HEREUNDER, MAKE OR DO THE SAME IN SUCH
MANNER AND TO SUCH EXTENT AS MORTGAGEE MAY DEEM NECESSARY TO PROTECT THE
SECURITY HEREOF.
MORTGAGEE IS AUTHORIZED TO ENTER UPON THE PROPERTY FOR SUCH
PURPOSES, OR APPEAR IN, DEFEND, OR BRING ANY ACTION OR PROCEEDING TO PROTECT ITS
INTEREST IN THE PROPERTY OR TO FORECLOSE THIS MORTGAGE OR COLLECT THE
INDEBTEDNESS, AND THE REASONABLE COST AND EXPENSE THEREOF (INCLUDING REASONABLE
ATTORNEYS' FEES TO THE EXTENT PERMITTED BY LAW), WITH INTEREST AS PROVIDED IN
THIS SECTION 7.3, SHALL CONSTITUTE A PORTION OF THE INDEBTEDNESS AND SHALL BE
DUE AND PAYABLE TO MORTGAGEE UPON DEMAND.
ALL SUCH REASONABLE COSTS AND
EXPENSES INCURRED BY MORTGAGEE IN REMEDYING SUCH EVENT OF DEFAULT OR SUCH FAILED
PAYMENT OR ACT OR IN APPEARING IN, DEFENDING, OR BRINGING ANY SUCH ACTION OR
PROCEEDING SHALL BEAR INTEREST AT THE DEFAULT RATE, FOR THE PERIOD BEGINNING ON
THE FIRST DAY AFTER NOTICE FROM MORTGAGEE THAT SUCH COST OR EXPENSE WAS INCURRED
AND CONTINUING UNTIL THE DATE OF PAYMENT TO MORTGAGEE.
ALL SUCH REASONABLE
COSTS AND EXPENSES INCURRED BY MORTGAGEE TOGETHER WITH INTEREST THEREON
CALCULATED AT THE DEFAULT RATE SHALL BE DEEMED TO CONSTITUTE A PORTION OF THE
INDEBTEDNESS AND BE SECURED BY THIS MORTGAGE AND THE OTHER LOAN DOCUMENTS AND
SHALL BE IMMEDIATELY DUE AND PAYABLE UPON DEMAND BY MORTGAGEE THEREFOR.
SECTION 7.4
ACTIONS AND PROCEEDINGS.
MORTGAGEE HAS THE RIGHT TO APPEAR