WHETHER VOLUNTARY OR NOT, OR WHETHER OR NOT LENDER HAS CONSENTED TO ANY PREVIOUS
SALE, CONVEYANCE, MORTGAGE, GRANT, BARGAIN, ENCUMBRANCE, PLEDGE, ASSIGNMENT, OR
TRANSFER OF THE PROPERTY.
ARTICLE 7
RIGHTS AND REMEDIES UPON DEFAULT
SECTION 7.1.
REMEDIES. UPON THE OCCURRENCE AND DURING THE CONTINUANCE
OF ANY EVENT OF DEFAULT, BORROWER AGREES THAT LENDER MAY TAKE SUCH ACTION,
WITHOUT NOTICE OR DEMAND, AS IT DEEMS ADVISABLE TO PROTECT AND ENFORCE ITS
RIGHTS AGAINST BORROWER AND IN AND TO THE
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PROPERTY, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING ACTIONS, EACH OF WHICH
MAY BE PURSUED CONCURRENTLY OR OTHERWISE, AT SUCH TIME AND IN SUCH ORDER AS
LENDER MAY DETERMINE, IN ITS SOLE DISCRETION, WITHOUT IMPAIRING OR OTHERWISE
AFFECTING THE OTHER RIGHTS AND REMEDIES OF LENDER:
(A)
DECLARE THE ENTIRE UNPAID DEBT TO BE IMMEDIATELY DUE AND PAYABLE;
(B)
INSTITUTE PROCEEDINGS, JUDICIAL OR OTHERWISE, FOR THE COMPLETE
FORECLOSURE OF THIS MORTGAGE UNDER ANY APPLICABLE PROVISION OF LAW, IN WHICH
CASE THE PROPERTY OR ANY INTEREST THEREIN MAY BE SOLD FOR CASH OR UPON CREDIT IN
ONE OR MORE PARCELS OR IN SEVERAL INTERESTS OR PORTIONS AND IN ANY ORDER OR
MANNER;
(C)
WITH OR WITHOUT ENTRY, TO THE EXTENT PERMITTED AND PURSUANT TO THE
PROCEDURES PROVIDED BY APPLICABLE LAW, INSTITUTE PROCEEDINGS FOR THE PARTIAL
FORECLOSURE OF THIS MORTGAGE FOR THE PORTION OF THE DEBT THEN DUE AND PAYABLE,
SUBJECT TO THE CONTINUING LIEN AND SECURITY INTEREST OF THIS MORTGAGE FOR THE
BALANCE OF THE DEBT NOT THEN DUE, UNIMPAIRED AND WITHOUT LOSS OF PRIORITY;
(D)
SELL FOR CASH OR UPON CREDIT THE PROPERTY OR ANY PART THEREOF AND
ALL ESTATE, CLAIM, DEMAND, RIGHT, TITLE AND INTEREST OF BORROWER THEREIN AND
RIGHTS OF REDEMPTION THEREOF, PURSUANT TO POWER OF SALE OR OTHERWISE, AT ONE OR
MORE SALES, AS AN ENTITY OR IN PARCELS, AT SUCH TIME AND PLACE, UPON SUCH TERMS
AND AFTER SUCH NOTICE THEREOF AS MAY BE REQUIRED OR PERMITTED BY LAW;
(E)
INSTITUTE AN ACTION, SUIT OR PROCEEDING IN EQUITY FOR THE SPECIFIC
PERFORMANCE OF ANY COVENANT, CONDITION OR AGREEMENT CONTAINED HEREIN, IN THE
NOTE, THE LOAN AGREEMENT OR IN THE OTHER LOAN DOCUMENTS;
(F)
RECOVER JUDGMENT ON THE NOTE EITHER BEFORE, DURING OR AFTER ANY
PROCEEDINGS FOR THE ENFORCEMENT OF THIS MORTGAGE OR THE OTHER LOAN DOCUMENTS;
(G)
APPLY FOR THE APPOINTMENT OF A RECEIVER, TRUSTEE, LIQUIDATOR OR
CONSERVATOR OF THE PROPERTY, WITHOUT NOTICE AND WITHOUT REGARD FOR THE ADEQUACY
OF THE SECURITY FOR THE DEBT AND WITHOUT REGARD FOR THE SOLVENCY OF BORROWER,
ANY GUARANTOR, INDEMNITOR WITH RESPECT TO THE LOAN OR OF ANY PERSON, LIABLE FOR
THE PAYMENT OF THE DEBT;
(H)
THE LICENSE GRANTED TO BORROWER UNDER SECTION 1.2 HEREOF SHALL
AUTOMATICALLY BE REVOKED AND LENDER MAY, TO THE EXTENT PERMITTED PURSUANT TO
PROCEDURES PROVIDED BY APPLICABLE LAW, ENTER INTO OR UPON THE PROPERTY, EITHER
PERSONALLY OR BY ITS AGENTS, NOMINEES OR ATTORNEYS AND DISPOSSESS BORROWER AND
ITS AGENTS AND SERVANTS THEREFROM, WITHOUT LIABILITY FOR TRESPASS, DAMAGES OR
OTHERWISE AND EXCLUDE BORROWER AND ITS AGENTS