PORTION THEREOF, OR (III) ANY AGREEMENT OR
STIPULATION BY MORTGAGEE EXTENDING THE TIME OF PAYMENT OR OTHERWISE MODIFYING OR
SUPPLEMENTING THE TERMS OF THE NOTE, THIS MORTGAGE OR THE OTHER LOAN DOCUMENTS.
14
(B)
IT IS AGREED THAT THE RISK OF LOSS OR DAMAGE TO THE PROPERTY
IS ON MORTGAGOR, AND MORTGAGEE SHALL HAVE NO LIABILITY WHATSOEVER FOR ANY
DECLINE IN VALUE OF THE PROPERTY, FOR FAILURE TO MAINTAIN THE POLICIES, OR FOR
FAILURE TO DETERMINE WHETHER INSURANCE IN FORCE IS ADEQUATE AS TO THE AMOUNT OF
RISKS INSURED.
POSSESSION BY MORTGAGEE SHALL NOT BE DEEMED AN ELECTION OF
JUDICIAL RELIEF, IF ANY SUCH POSSESSION IS REQUESTED OR OBTAINED, WITH RESPECT
TO ANY PROPERTY OR COLLATERAL NOT IN MORTGAGEE'S POSSESSION.
(C)
UPON THE OCCURRENCE AND DURING THE CONTINUANCE OF AN EVENT OF
DEFAULT, MORTGAGEE MAY RESORT FOR THE PAYMENT AND PERFORMANCE OF THE OBLIGATIONS
(INCLUDING, BUT NOT LIMITED TO, THE PAYMENT OF THE DEBT) TO ANY OTHER SECURITY
HELD BY MORTGAGEE IN SUCH ORDER AND MANNER AS MORTGAGEE, IN ITS DISCRETION, MAY
ELECT.
MORTGAGEE MAY TAKE ACTION TO RECOVER THE DEBT, OR ANY PORTION THEREOF,
OR TO ENFORCE THE OTHER OBLIGATIONS, WITHOUT PREJUDICE TO THE RIGHT OF MORTGAGEE
THEREAFTER TO FORECLOSE THIS MORTGAGE.
THE RIGHTS OF MORTGAGEE UNDER THIS
MORTGAGE SHALL BE SEPARATE, DISTINCT AND CUMULATIVE AND NONE SHALL BE GIVEN
EFFECT TO THE EXCLUSION OF THE OTHERS.
NO ACT OF MORTGAGEE SHALL BE CONSTRUED
AS AN ELECTION TO PROCEED UNDER ANY ONE PROVISION HEREIN TO THE EXCLUSION OF ANY
OTHER PROVISION.
MORTGAGEE SHALL NOT BE LIMITED EXCLUSIVELY TO THE RIGHTS AND
REMEDIES HEREIN STATED BUT SHALL BE ENTITLED TO EVERY RIGHT AND REMEDY NOW OR
HEREAFTER AFFORDED AT LAW OR IN EQUITY.
SECTION 7.05
RIGHT TO RELEASE ANY PORTION OF THE PROPERTY.
SUBJECT TO
THE TERMS OF SECTION 7.2 AND 7.4 OF THE LOAN AGREEMENT, MORTGAGEE MAY RELEASE
ANY PORTION OF THE PROPERTY FOR SUCH CONSIDERATION AS MORTGAGEE MAY REQUIRE
WITHOUT, AS TO THE REMAINDER OF THE PROPERTY, IN ANY WAY IMPAIRING OR AFFECTING
THE LIEN OR PRIORITY OF THIS MORTGAGE, OR IMPROVING THE POSITION OF ANY
SUBORDINATE LIENHOLDER WITH RESPECT THERETO, EXCEPT TO THE EXTENT THAT THE DEBT
SHALL HAVE BEEN REDUCED BY THE ACTUAL MONETARY CONSIDERATION, IF ANY, RECEIVED
BY MORTGAGEE FOR SUCH RELEASE, AND MORTGAGEE MAY ACCEPT BY ASSIGNMENT, PLEDGE OR
OTHERWISE ANY OTHER PROPERTY IN PLACE THEREOF AS MORTGAGEE MAY REQUIRE WITHOUT
BEING ACCOUNTABLE FOR SO DOING TO ANY OTHER LIENHOLDER.
THIS MORTGAGE SHALL
CONTINUE AS A LIEN AND SECURITY INTEREST IN THE REMAINING PORTION OF THE
PROPERTY.
SECTION 7.06
RIGHT OF ENTRY.
MORTGAGEE AND ITS AGENTS SHALL HAVE THE
RIGHT TO ENTER AND INSPECT THE PROPERTY ON THE TERMS SET FORTH IN SECTION 4.10
OF THE LOAN AGREEMENT.
ARTICLE VIII.
INDEMNIFICATION
SECTION 8.01
MORTGAGE AND/OR INTANGIBLE TAX.
MORTGAGOR SHALL, AT ITS
SOLE COST AND EXPENSE, PROTECT, DEFEND, INDEMNIFY, RELEASE AND HOLD HARMLESS
MORTGAGEE AND ANY PERSON CLAIMING BY OR THROUGH MORTGAGEE (COLLECTIVELY WITH
MORTGAGEE, THE "INDEMNIFIED PARTIES") FROM AND AGAINST ANY AND ALL