ENTITLED TO PROVE THE WHOLE
AMOUNT OF PRINCIPAL AND INTEREST AND OTHER PAYMENTS, CHARGES AND COSTS DUE IN
RESPECT OF THE SECURED OBLIGATIONS TO THE FULL AMOUNT THEREOF WITHOUT DEDUCTING
THEREFROM ANY PROCEEDS OBTAINED FROM THE SALE OF THE WHOLE OR ANY PART OF THE
MORTGAGED PROPERTY; PROVIDED, HOWEVER, THAT IN NO CASE SHALL THE MORTGAGEE
RECEIVE A GREATER AMOUNT THAN THE AGGREGATE OF SUCH PRINCIPAL, INTEREST AND SUCH
OTHER PAYMENTS, CHARGES AND COSTS (WITH INTEREST AT THE DEFAULT RATE) FROM THE
PROCEEDS OF THE SALE OF THE MORTGAGED PROPERTY AND THE DISTRIBUTION FROM THE
ESTATE OF THE MORTGAGOR.
(II)
ANY RECOVERY OF ANY JUDGMENT BY THE MORTGAGEE AND ANY LEVY OF ANY
EXECUTION UNDER ANY JUDGMENT UPON THE MORTGAGED PROPERTY SHALL NOT AFFECT IN ANY
MANNER OR TO ANY EXTENT THE LIEN AND SECURITY INTERESTS CREATED AND EVIDENCED
HEREBY UPON THE MORTGAGED PROPERTY OR ANY PART THEREOF, OR ANY CONVEYANCES,
POWERS, RIGHTS AND REMEDIES OF THE MORTGAGEE HEREUNDER, BUT SUCH CONVEYANCES,
POWERS, RIGHTS AND REMEDIES SHALL CONTINUE UNIMPAIRED AS BEFORE.
(III)
ANY MONIES COLLECTED BY THE MORTGAGEE UNDER THIS SECTION 11.4
SHALL BE APPLIED IN ACCORDANCE WITH THE PROVISIONS OF SECTION 11.3(III).
SECTION 11.5
LEGAL PROCEEDINGS AFTER AN EVENT OF DEFAULT.
(I)
AFTER THE OCCURRENCE OF ANY EVENT OF DEFAULT AND IMMEDIATELY UPON
THE COMMENCEMENT OF ANY ACTION, SUIT OR LEGAL PROCEEDINGS TO OBTAIN JUDGMENT FOR
THE SECURED OBLIGATIONS OR ANY PART THEREOF, OR OF ANY PROCEEDINGS TO FORECLOSE
THE LIEN AND SECURITY INTEREST CREATED AND EVIDENCED HEREBY OR OTHERWISE ENFORCE
THE PROVISIONS HEREOF OR OF ANY OTHER PROCEEDINGS IN AID OF THE ENFORCEMENT
HEREOF, THE MORTGAGOR SHALL ENTER ITS VOLUNTARY APPEARANCE IN SUCH ACTION, SUIT
OR PROCEEDING.
(II)
UPON THE OCCURRENCE AND DURING THE CONTINUANCE OF AN EVENT OF
DEFAULT, THE MORTGAGEE SHALL BE ENTITLED FORTHWITH AS A MATTER OF RIGHT,
CONCURRENTLY OR INDEPENDENTLY OF ANY OTHER RIGHT OR REMEDY HEREUNDER EITHER
BEFORE OR AFTER DECLARING THE SECURED OBLIGATIONS OR ANY PART THEREOF TO BE DUE
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AND PAYABLE, TO THE APPOINTMENT OF A RECEIVER WITHOUT GIVING NOTICE TO ANY PARTY
AND WITHOUT REGARD TO THE ADEQUACY OR INADEQUACY OF ANY SECURITY FOR THE SECURED
OBLIGATIONS OR THE SOLVENCY OR INSOLVENCY OF ANY PERSON OR ENTITY THEN LEGALLY
OR EQUITABLY LIABLE FOR THE SECURED OBLIGATIONS OR ANY PORTION THEREOF.
THE
MORTGAGOR HEREBY CONSENTS TO THE APPOINTMENT OF SUCH RECEIVER.
NOTWITHSTANDING
THE APPOINTMENT OF ANY RECEIVER, THE MORTGAGEE SHALL BE ENTITLED AS PLEDGEE TO
THE POSSESSION AND CONTROL OF ANY CASH, DEPOSITS OR INSTRUMENTS AT THE TIME HELD
BY OR PAYABLE OR DELIVERABLE UNDER THE TERMS OF THE INDENTURE TO THE MORTGAGEE.
(III)
THE MORTGAGOR SHALL NOT (A) AT ANY TIME INSIST UPON, OR PLEAD, OR
IN ANY MANNER WHATSOEVER CLAIM OR TAKE ANY BENEFIT OR ADVANTAGE OF ANY STAY OR
EXTENSION OR MORATORIUM LAW, ANY EXEMPTION FROM EXECUTION OR SALE OF THE
MORTGAGED PROPERTY OR ANY PART THEREOF, WHEREVER ENACTED, NOW OR AT ANY TIME
HEREAFTER IN FORCE, WHICH MAY AFFECT THE COVENANTS AND TERMS OF PERFORMANCE