RIGHT TO APPEAR IN AND
DEFEND ANY ACTION OR PROCEEDING BROUGHT WITH RESPECT TO THE PROPERTY AND TO
BRING ANY ACTION OR PROCEEDING, IN THE NAME AND ON BEHALF OF BORROWER, WHICH
LENDER, IN ITS SOLE DISCRETION, DECIDES SHOULD BE BROUGHT TO PROTECT ITS OR
THEIR INTEREST IN THE PROPERTY.
LENDER SHALL, AT ITS OPTION, BE SUBROGATED TO
THE LIEN OF ANY MORTGAGE, DEED OF TRUST OR OTHER SECURITY INSTRUMENT DISCHARGED
IN WHOLE OR IN PART BY THE DEBT, AND ANY SUCH SUBROGATION RIGHTS SHALL
CONSTITUTE ADDITIONAL SECURITY FOR THE PAYMENT OF THE DEBT.
14.
MARSHALLING AND OTHER MATTERS.
BORROWER HEREBY WAIVES, TO THE
EXTENT PERMITTED BY LAW, THE BENEFIT OF ALL HOMESTEAD, APPRAISEMENT, VALUATION,
STAY, EXTENSION, REINSTATEMENT AND REDEMPTION LAWS NOW OR HEREAFTER IN FORCE AND
ALL RIGHTS OF MARSHALLING IN THE EVENT OF ANY SALE HEREUNDER OF THE PROPERTY OR
ANY PART THEREOF OR ANY INTEREST THEREIN.
FURTHER, BORROWER HEREBY EXPRESSLY
WAIVES ANY AND ALL RIGHTS OF REDEMPTION FROM SALE UNDER ANY ORDER OR DECREE OF
FORECLOSURE OF THIS SECURITY INSTRUMENT ON BEHALF OF BORROWER, AND ON BEHALF OF
EACH AND EVERY PERSON ACQUIRING ANY INTEREST IN OR TITLE TO THE PROPERTY
SUBSEQUENT TO THE DATE OF THIS SECURITY INSTRUMENT AND ON BEHALF OF ALL PERSONS
TO THE EXTENT PERMITTED BY APPLICABLE LAW.
THE LIEN OF THIS SECURITY INSTRUMENT
SHALL BE ABSOLUTE AND UNCONDITIONAL AND SHALL NOT IN ANY MANNER BE AFFECTED OR
IMPAIRED BY ANY ACTS OR OMISSIONS WHATSOEVER OF LENDER AND, WITHOUT LIMITING THE
GENERALITY OF THE FOREGOING, THE LIEN HEREOF SHALL NOT BE IMPAIRED BY (I) ANY
ACCEPTANCE BY LENDER OF ANY OTHER SECURITY FOR ANY PORTION OF THE DEBT, (II) ANY
FAILURE, NEGLECT OR OMISSION ON THE PART OF LENDER TO REALIZE UPON OR PROTECT
ANY PORTION OF THE DEBT OR ANY COLLATERAL SECURITY THEREFOR OR (III) ANY RELEASE
(EXCEPT AS TO THE PROPERTY RELEASED), SALE, PLEDGE, SURRENDER, COMPROMISE,
SETTLEMENT, RENEWAL, EXTENSION, INDULGENCE, ALTERATION, CHANGING, MODIFICATION
OR DISPOSITION OF ANY PORTION OF THE DEBT OR OF ANY OF THE COLLATERAL SECURITY
THEREFOR; AND LENDER MAY FORECLOSE, OR EXERCISE ANY OTHER REMEDY AVAILABLE TO
LENDER UNDER OTHER LOAN DOCUMENTS WITHOUT FIRST EXERCISING OR ENFORCING ANY OF
ITS REMEDIES UNDER THIS SECURITY INSTRUMENT, AND ANY EXERCISE OF THE RIGHTS AND
REMEDIES OF LENDER HEREUNDER SHALL NOT IN ANY MANNER IMPAIR THE DEBT OR THE
LIENS OF ANY OTHER LOAN DOCUMENT OR ANY OF LENDER'S RIGHTS AND REMEDIES
THEREUNDER.
15.
NOTICES.
ALL NOTICES, CONSENTS, APPROVALS AND REQUESTS REQUIRED
OR PERMITTED HEREUNDER SHALL BE IN WRITING, AND SHALL BE SENT, AND SHALL BE
DEEMED EFFECTIVE, AS PROVIDED IN THE LOAN AGREEMENT.
16.
INAPPLICABLE PROVISIONS.
IF ANY TERM, COVENANT OR CONDITION OF
THIS SECURITY INSTRUMENT IS HELD TO BE INVALID, ILLEGAL OR UNENFORCEABLE IN ANY
RESPECT, THIS SECURITY INSTRUMENT SHALL BE CONSTRUED WITHOUT SUCH PROVISION.
17.
HEADINGS.
THE PARAGRAPH HEADINGS IN THIS SECURITY INSTRUMENT ARE
FOR CONVENIENCE OF REFERENCE ONLY AND ARE NOT TO BE CONSTRUED AS DEFINING OR
LIMITING, IN ANY WAY, THE SCOPE OR INTENT OF