A PART OF THE DEBT AS THE SAME BECOME DUE AND PAYABLE HEREUNDER
(AFTER THE EXPIRATION OF ANY GRACE PERIOD OR THE GIVING OF ANY NOTICE HEREIN
PROVIDED, IF ANY), WITHOUT REGARD TO WHETHER OR NOT THE BALANCE OF THE DEBT
SHALL BE DUE, AND WITHOUT PREJUDICE TO THE RIGHT OF LENDER THEREAFTER TO BRING
AN ACTION OF FORECLOSURE, OR ANY OTHER ACTION, FOR A DEFAULT OR DEFAULTS BY
BORROWER EXISTING AT THE TIME SUCH EARLIER ACTION WAS COMMENCED.
SECTION 13.11.
MARSHALLING AND OTHER MATTERS.
BORROWER HEREBY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY LAW, THE BENEFIT OF ALL APPRAISEMENT, VALUATION,
STAY, EXTENSION, REINSTATEMENT, REDEMPTION (BOTH EQUITABLE AND STATUTORY) AND
HOMESTEAD 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, WHETHER EQUITABLE OR STATUTORY AND ON BEHALF
OF EACH AND EVERY PERSON ACQUIRING ANY INTEREST IN OR TITLE TO THE PROPERTY OR
ANY PART THEREOF SUBSEQUENT TO THE DATE OF THIS SECURITY INSTRUMENT AND ON
BEHALF OF ALL PERSONS TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW.
SECTION 13.12.
TAX REDUCTION PROCEEDINGS.
UPON THE OCCURRENCE AND DURING THE
CONTINUANCE OF AN EVENT OF DEFAULT, BORROWER SHALL BE DEEMED TO HAVE APPOINTED
LENDER AS ITS ATTORNEY-IN-FACT TO SEEK A REDUCTION OR REDUCTIONS IN THE ASSESSED
VALUATION OF THE PROPERTY FOR REAL PROPERTY TAX PURPOSES OR FOR ANY OTHER
PURPOSE AND TO PROSECUTE ANY ACTION OR PROCEEDING IN CONNECTION THEREWITH.
THIS
POWER, BEING COUPLED WITH AN INTEREST, SHALL BE IRREVOCABLE FOR SO LONG AS ANY
PART OF THE DEBT REMAINS UNPAID AND ANY EVENT OF DEFAULT SHALL BE CONTINUING.
SECTION 13.13.
GENERAL PROVISIONS REGARDING REMEDIES.
(A)
RIGHT TO TERMINATE PROCEEDINGS.
LENDER OR TRUSTEE MAY TERMINATE
OR RESCIND ANY PROCEEDING OR OTHER ACTION BROUGHT IN CONNECTION WITH ITS
EXERCISE OF THE REMEDIES PROVIDED IN SECTION 13.02 AT ANY TIME BEFORE THE
CONCLUSION THEREOF, AS DETERMINED IN LENDER'S SOLE DISCRETION AND WITHOUT
PREJUDICE TO LENDER OR TRUSTEE.
(B)
NO WAIVER OR RELEASE.
THE FAILURE OF LENDER OR TRUSTEE TO
EXERCISE ANY RIGHT, REMEDY OR OPTION PROVIDED IN THE LOAN DOCUMENTS SHALL NOT BE
DEEMED A WAIVER OF SUCH RIGHT, REMEDY OR OPTION OR OF ANY COVENANT OR OBLIGATION
CONTAINED IN THE LOAN DOCUMENTS.
NO ACCEPTANCE BY LENDER OF ANY PAYMENT UPON
THE OCCURRENCE AND DURING THE CONTINUANCE OF AN EVENT OF DEFAULT AND NO PAYMENT
BY LENDER OF ANY PAYMENT OR OBLIGATION FOR WHICH BORROWER IS LIABLE HEREUNDER
SHALL BE DEEMED TO WAIVE OR CURE ANY EVENT OF DEFAULT.
NO SALE OF ALL OR ANY
PORTION OF THE PROPERTY, NO FORBEARANCE ON THE PART OF LENDER, AND NO EXTENSION
OF TIME FOR THE PAYMENT OF THE WHOLE OR ANY PORTION OF THE DEBT OR ANY OTHER
INDULGENCE GIVEN BY LENDER TO
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BORROWER OR ANY