THE SECURED INDEBTEDNESS IS SUBJECT TO ACCELERATION IN THE
EVENT OF A TRANSFER WHICH IS PROHIBITED UNDER THIS CLAUSE (D).
(E)
GRANT OF EASEMENT, ETC.
WITHOUT THE PRIOR
WRITTEN CONSENT OF HOLDER, GRANTOR GRANTS ANY EASEMENT OR DEDICATION, OR FILES
ANY PLAT, CONDOMINIUM DECLARATION OR RESTRICTION, OR OTHERWISE ENCUMBERS THE
PROPERTY, OR SEEKS OR PERMITS ANY ZONING RECLASSIFICATION OR VARIANCE, UNLESS
SUCH ACTION IS EXPRESSLY PERMITTED BY THE LOAN DOCUMENTS OR DOES NOT AFFECT THE
PROPERTY.
(F)
ABANDONMENT.
THE OWNER OF THE PROPERTY
ABANDONS ANY OF THE PROPERTY.
(G)
DEFAULT UNDER OTHER LIEN.
A DEFAULT OR
EVENT OF DEFAULT OCCURS UNDER ANY LIEN, SECURITY INTEREST OR ASSIGNMENT COVERING
THE PROPERTY OR ANY PART THEREOF (WHETHER OR NOT HOLDER AND LENDERS HAVE
CONSENTED, AND WITHOUT HEREBY IMPLYING ANY CONSENT BY HOLDER OR LENDERS, TO ANY
SUCH LIEN, SECURITY INTEREST OR ASSIGNMENT NOT CREATED HEREUNDER), OR THE HOLDER
OF ANY SUCH LIEN, SECURITY INTEREST OR ASSIGNMENT DECLARES A DEFAULT OR
INSTITUTES FORECLOSURE OR OTHER PROCEEDINGS FOR THE ENFORCEMENT OF ITS REMEDIES
THEREUNDER.
(H)
DESTRUCTION.
THE PROPERTY IS SO DEMOLISHED,
DESTROYED OR DAMAGED THAT IN THE REASONABLE OPINION OF HOLDER, IT CANNOT BE
RESTORED OR REBUILT WITH AVAILABLE FUNDS TO A PROFITABLE CONDITION WITHIN A
REASONABLE PERIOD OF TIME AND IN ANY EVENT PRIOR TO THE FINAL MATURITY DATE OF
THE LOAN.
(I)
CONDEMNATION.
(I) ANY GOVERNMENTAL
AUTHORITY REQUIRES OR COMMENCES ANY PROCEEDING FOR THE DEMOLITION OF ANY
BUILDING OR STRUCTURE COMPRISING A PART OF THE PREMISES, OR (II) THERE IS
COMMENCED ANY PROCEEDING TO CONDEMN OR OTHERWISE TAKE PURSUANT TO THE POWER OF
EMINENT DOMAIN, OR A CONTRACT FOR SALE OR A CONVEYANCE IN LIEU OF SUCH A TAKING
IS EXECUTED WHICH PROVIDES FOR THE TRANSFER OF, A MATERIAL PORTION OF THE
PREMISES, INCLUDING THE TAKING (OR TRANSFER IN LIEU THEREOF) OF ANY PORTION
WHICH WOULD RESULT IN THE BLOCKAGE OR SUBSTANTIAL IMPAIRMENT OF
24
ACCESS OR UTILITY SERVICE TO THE IMPROVEMENTS OR WHICH WOULD CAUSE THE PREMISES
TO FAIL TO COMPLY WITH ANY LEGAL REQUIREMENT.
SECTION 4.2
NOTICE AND CURE.
IF ANY
PROVISION OF THIS DEED OF TRUST OR ANY OTHER LOAN DOCUMENT PROVIDES FOR HOLDER
TO GIVE TO GRANTOR ANY NOTICE REGARDING A DEFAULT OR INCIPIENT DEFAULT, THEN IF
HOLDER SHALL FAIL TO GIVE SUCH NOTICE TO GRANTOR AS PROVIDED, THE SOLE AND
EXCLUSIVE REMEDY OF GRANTOR FOR SUCH FAILURE SHALL BE TO SEEK APPROPRIATE
EQUITABLE RELIEF TO ENFORCE THE AGREEMENT TO GIVE SUCH NOTICE AND TO HAVE ANY
ACCELERATION OF THE MATURITY OF THE LOAN AND THE SECURED INDEBTEDNESS POSTPONED
OR REVOKED AND FORECLOSURE PROCEEDINGS IN CONNECTION THEREWITH DELAYED OR
TERMINATED PENDING OR UPON THE CURING OF SUCH DEFAULT IN THE MANNER AND DURING
THE PERIOD OF TIME PERMITTED BY SUCH AGREEMENT, IF ANY, AND GRANTOR SHALL HAVE
NO RIGHT TO DAMAGES OR ANY OTHER TYPE OF RELIEF NOT HEREIN SPECIFICALLY SET OUT
AGAINST HOLDER OR LENDERS, ALL OF WHICH DAMAGES OR OTHER RELIEF ARE HEREBY
WAIVED BY GRANTOR.
NOTHING HEREIN OR IN ANY OTHER LOAN DOCUMENT SHALL