LIABILITY FOR TRESPASS, DAMAGES OR OTHERWISE AND EXCLUDE
TRUSTOR AND ITS AGENTS OR SERVANTS WHOLLY THEREFROM, AND TAKE POSSESSION OF ALL
BOOKS, RECORDS AND ACCOUNTS RELATING THERETO AND TRUSTOR AGREES TO SURRENDER
POSSESSION OF THE PROPERTY AND OF SUCH BOOKS, RECORDS AND ACCOUNTS TO
BENEFICIARY UPON DEMAND, AND THEREUPON BENEFICIARY MAY (I) USE, OPERATE, MANAGE,
CONTROL, INSURE, MAINTAIN, REPAIR, RESTORE AND OTHERWISE DEAL WITH ALL AND EVERY
PART OF THE PROPERTY AND CONDUCT THE BUSINESS THEREAT; (II) COMPLETE ANY
CONSTRUCTION ON THE PROPERTY IN SUCH MANNER AND FORM AS BENEFICIARY DEEMS
ADVISABLE; (III) MAKE ALTERATIONS, ADDITIONS, RENEWALS, REPLACEMENTS AND
IMPROVEMENTS TO OR ON THE PROPERTY; (IV) EXERCISE ALL RIGHTS AND POWERS OF
TRUSTOR WITH RESPECT TO THE PROPERTY, WHETHER IN THE NAME OF TRUSTOR OR
OTHERWISE, INCLUDING, WITHOUT LIMITATION, THE RIGHT TO MAKE, CANCEL, ENFORCE OR
MODIFY LEASES, OBTAIN AND EVICT TENANTS, AND DEMAND, SUE FOR, COLLECT AND
RECEIVE ALL RENTS; (V) REQUIRE TRUSTOR TO PAY MONTHLY IN ADVANCE TO BENEFICIARY,
OR ANY RECEIVER APPOINTED TO COLLECT RENTS, THE FAIR AND REASONABLE RENTAL VALUE
FOR THE USE AND OCCUPATION OF SUCH PART OF THE PROPERTY AS MAY BE OCCUPIED BY
TRUSTOR; (VI) REQUIRE TRUSTOR TO VACATE AND SURRENDER POSSESSION OF THE PROPERTY
TO BENEFICIARY OR TO SUCH RECEIVER AND, IN DEFAULT THEREOF, TRUSTOR MAY BE
EVICTED BY SUMMARY PROCEEDINGS OR OTHERWISE; AND (VII) APPLY THE RECEIPTS FROM
THE PROPERTY TO THE PAYMENT OF THE DEBT, IN SUCH ORDER, PRIORITY AND PROPORTIONS
AS BENEFICIARY SHALL DEEM APPROPRIATE IN ITS SOLE DISCRETION AFTER DEDUCTING
THEREFROM ALL EXPENSES (INCLUDING REASONABLE ATTORNEYS' FEES) INCURRED IN
CONNECTION WITH THE AFORESAID OPERATIONS AND ALL AMOUNTS NECESSARY TO PAY THE
TAXES, OTHER CHARGES, INSURANCE PREMIUMS AND OTHER EXPENSES IN CONNECTION WITH
THE PROPERTY, AS WELL AS JUST AND REASONABLE COMPENSATION FOR THE SERVICES OF
BENEFICIARY, ITS COUNSEL, AGENTS AND EMPLOYEES;
(I)
EXERCISE ANY AND ALL RIGHTS AND REMEDIES GRANTED TO A SECURED
PARTY UPON DEFAULT UNDER THE UNIFORM COMMERCIAL CODE, INCLUDING, WITHOUT
LIMITING THE GENERALITY OF THE FOREGOING: (I) THE RIGHT TO TAKE POSSESSION OF
THE FIXTURES, THE EQUIPMENT, THE PERSONAL PROPERTY, ANY OTHER COLLATERAL OR ANY
PART THEREOF, AND TO TAKE SUCH OTHER MEASURES AS BENEFICIARY MAY DEEM NECESSARY
FOR THE CARE, PROTECTION AND PRESERVATION OF THE FIXTURES, THE EQUIPMENT, THE
PERSONAL PROPERTY, ANY OTHER COLLATERAL OR ANY PART THEREOF AND (II) REQUEST
TRUSTOR AT ITS EXPENSE TO ASSEMBLE THE FIXTURES, THE EQUIPMENT, THE PERSONAL
PROPERTY, ANY OTHER COLLATERAL OR ANY PART THEREOF AND MAKE IT AVAILABLE TO
BENEFICIARY AT A CONVENIENT PLACE ACCEPTABLE TO BENEFICIARY;
(J)
APPLY ANY SUMS THEN DEPOSITED OR HELD IN THE ACCOUNTS, ESCROW OR
OTHERWISE BY OR ON BEHALF OF BENEFICIARY IN ACCORDANCE WITH THE TERMS OF THE
LOAN AGREEMENT, THIS SECURITY INSTRUMENT OR ANY OTHER LOAN DOCUMENT TO THE
PAYMENT OF THE FOLLOWING ITEMS IN ANY ORDER IN ITS SOLE DISCRETION: (I) TAXES
AND OTHER CHARGES; (II) INSURANCE PREMIUMS; (III) INTEREST ON THE UNPAID
PRINCIPAL BALANCE OF THE NOTE; (IV) AMORTIZATION OF THE UNPAID PRINCIPAL
16
balance of the