AFTER PAYMENT OF ALL
NECESSARY CHARGES AND EXPENSES, ON ACCOUNT OF THE OBLIGATIONS SECURED HEREBY;
PROVIDED, HOWEVER, THAT BENEFICIARY HEREBY GRANTS TO GRANTOR A LIMITED LICENSE
(THE "LICENSE"), NONEXCLUSIVE WITH THE RIGHTS OF BENEFICIARY, TO EXERCISE AND
ENJOY ALL INCIDENCES OF OWNERSHIP OF THE LEASES AND THE RENTS, INCLUDING,
WITHOUT LIMITATION, THE RIGHT TO COLLECT, DEMAND, SUE FOR, ATTACH, LEVY, RECOVER
AND RECEIVE THE RENTS, SO LONG AS NO EVENT OF DEFAULT HAS OCCURRED HEREUNDER.
UPON THE OCCURRENCE OF ANY SUCH EVENT OF DEFAULT, THE LICENSE HEREBY GIVEN TO
GRANTOR SHALL TERMINATE AND SUCH LICENSE SHALL NOT BE REINSTATED UPON A CURE OF
SUCH EVENT OF DEFAULT WITHOUT BENEFICIARY'S SPECIFIC WRITTEN CONSENT.
(C)
ENFORCEMENT OF LEASES.
(I)
SO LONG AS THE LICENSE IS IN EFFECT, GRANTOR SHALL (A) DULY AND
PUNCTUALLY PERFORM AND COMPLY WITH ANY AND ALL REPRESENTATIONS, WARRANTIES,
COVENANTS AND AGREEMENTS EXPRESSED AS BINDING ON IT UNDER ANY LEASE, (B)
MAINTAIN EACH OF THE LEASES IN FULL FORCE AND EFFECT DURING THE TERM THEREOF,
(C) APPEAR IN AND DEFEND ANY ACTION OR PROCEEDING IN ANY MANNER CONNECTED WITH
ANY OF THE LEASES, (D) DELIVER TO BENEFICIARY EXECUTION COUNTERPARTS OF ALL
LEASES PROMPTLY UPON BENEFICIARY'S REQUEST, AND (E) DELIVER TO BENEFICIARY SUCH
FURTHER INFORMATION, AND EXECUTE AND DELIVER TO BENEFICIARY SUCH FURTHER
ASSURANCES AND ASSIGNMENTS, WITH RESPECT TO THE LEASES AS BENEFICIARY MAY FROM
TIME TO TIME REQUEST.
(II)
WITHOUT BENEFICIARY'S PRIOR WRITTEN CONSENT, SO LONG AS THE
LICENSE IS IN EFFECT, GRANTOR SHALL NOT (A) DO OR KNOWINGLY PERMIT TO BE DONE
ANYTHING TO IMPAIR THE VALUE OF ANY OF THE LEASES, (B) ACCEPT DEPOSITS TO EXCEED
ONE (1) MONTH'S RENT FOR ANY ONE LESSEE, (C) COLLECT ANY OF THE RENT MORE THAN
THIRTY (30) DAYS IN ADVANCE OF THE TIME WHEN THE SAME BECOMES DUE UNDER THE
TERMS OF ANY LEASE, (D) DISCOUNT ANY FUTURE ACCRUING RENT, (E) AMEND, MODIFY OR
TERMINATE ANY LEASE OR (F) ASSIGN OR GRANT A SECURITY INTEREST IN OR TO THE
LICENSE OR ANY OF THE LEASES.
(D)
REMEDIES.
UPON OR AT ANY TIME AFTER THE OCCURRENCE OF ANY EVENT
OF DEFAULT, BENEFICIARY, AT ITS OPTION AND IN ADDITION TO THE REMEDIES PROVIDED
IN ARTICLE 3 HEREOF, SHALL HAVE THE COMPLETE, CONTINUING AND ABSOLUTE RIGHT,
POWER AND AUTHORITY TO TERMINATE THE LICENSE. THEREAFTER, BENEFICIARY SHALL HAVE
THE EXCLUSIVE RIGHT, POWER AND AUTHORITY (BUT NOT THE OBLIGATION) REGARDLESS OF
WHETHER A FORECLOSURE SALE OF THE REMAINDER OF THE MORTGAGED PROPERTY HAS
OCCURRED UNDER THIS DEED OF TRUST, OR WHETHER BENEFICIARY HAS TAKEN POSSESSION
OF THE REMAINDER OF THE MORTGAGED PROPERTY OR ATTEMPTED TO DO ANY OF THE SAME
(BUT NOT THE OBLIGATION) TO COLLECT, DEMAND, SUE FOR, ATTACH, LEVY, RECOVER AND
RECEIVE ANY RENT, TO GIVE PROPER RECEIPTS, RELEASES AND ACQUITTANCES THEREFOR
AND, AFTER DEDUCTING THE EXPENSES OF COLLECTION, TO APPLY THE NET PROCEEDS
THEREOF AS A CREDIT UPON ANY PORTION OF THE OBLIGATIONS SELECTED BY BENEFICIARY,
NOTWITHSTANDING THAT SUCH PORTION SELECTED MAY NOT THEN BE DUE AND PAYABLE OR
THAT SUCH PORTION