PARTIES SHALL HAVE RESPONSIBILITY FOR
TAKING ANY NECESSARY STEPS TO PRESERVE RIGHTS AGAINST ANY PERSON WITH RESPECT TO
ANY MORTGAGED PROPERTY.
(III)
THE MORTGAGEE SHALL BE ENTITLED TO RELY UPON ANY WRITTEN NOTICE,
STATEMENT, CERTIFICATE, ORDER OR OTHER DOCUMENT OR ANY TELEPHONE MESSAGE
BELIEVED BY IT TO BE GENUINE AND CORRECT AND TO HAVE BEEN SIGNED, SENT OR MADE
BY THE PROPER PERSON, AND, WITH RESPECT TO ALL MATTERS PERTAINING TO THIS
MORTGAGE AND ITS DUTIES HEREUNDER, UPON ADVICE OF COUNSEL SELECTED BY IT.
(IV)
IF ANY PORTION OF THE MORTGAGED PROPERTY ALSO CONSTITUTES
COLLATERAL GRANTED TO THE MORTGAGEE UNDER ANY OTHER DEED OF TRUST, MORTGAGE,
SECURITY AGREEMENT, PLEDGE OR INSTRUMENT OF ANY TYPE, IN THE EVENT OF ANY
CONFLICT BETWEEN THE PROVISIONS HEREOF AND THE PROVISIONS OF SUCH OTHER DEED OF
TRUST, MORTGAGE, SECURITY AGREEMENT, PLEDGE OR INSTRUMENT OF ANY TYPE IN RESPECT
OF SUCH COLLATERAL, THE MORTGAGEE, IN ITS SOLE DISCRETION, SHALL SELECT WHICH
PROVISION OR PROVISIONS SHALL CONTROL.
30
SECTION 14.4
MORTGAGEE MAY PERFORM; MORTGAGEE APPOINTED ATTORNEY-IN-FACT.
IF
THE MORTGAGOR SHALL FAIL TO PERFORM ANY COVENANTS CONTAINED IN THIS MORTGAGE,
SUBJECT TO ANY APPLICABLE GRACE PERIODS OR CONTEST RIGHTS PERMITTED PURSUANT TO
ARTICLE IX HEREOF (INCLUDING, WITHOUT LIMITATION, THE MORTGAGOR'S COVENANTS TO
(I) PAY THE PREMIUMS IN RESPECT OF ALL REQUIRED INSURANCE POLICIES HEREUNDER,
(II) PAY CHARGES, (III) MAKE REPAIRS, (IV) DISCHARGE LIENS OR (V) PAY OR PERFORM
ANY OBLIGATIONS OF THE MORTGAGOR UNDER ANY MORTGAGED PROPERTY) OR IF ANY
WARRANTY ON THE PART OF THE MORTGAGOR CONTAINED HEREIN SHALL BE BREACHED, THE
MORTGAGEE MAY (BUT SHALL NOT BE OBLIGATED TO) DO THE SAME OR CAUSE IT TO BE DONE
OR REMEDY ANY SUCH BREACH, AND MAY EXPEND FUNDS FOR SUCH PURPOSE; PROVIDED,
HOWEVER, THAT THE MORTGAGEE SHALL IN NO EVENT BE BOUND TO INQUIRE INTO THE
VALIDITY OF ANY TAX, LIEN, IMPOSITION OR OTHER OBLIGATION WHICH THE MORTGAGOR
FAILS TO PAY OR PERFORM AS AND WHEN REQUIRED HEREBY AND WHICH THE MORTGAGOR DOES
NOT CONTEST IN ACCORDANCE WITH THE PROVISIONS OF ARTICLE IX HEREOF.
ANY AND ALL
AMOUNTS SO EXPENDED BY THE MORTGAGEE SHALL BE PAID BY THE MORTGAGOR IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 14.5 HEREOF.
NEITHER THE PROVISIONS
OF THIS SECTION 14.4 NOR ANY ACTION TAKEN BY THE MORTGAGEE PURSUANT TO THE
PROVISIONS OF THIS SECTION 14.4 SHALL PREVENT ANY SUCH FAILURE TO OBSERVE ANY
COVENANT CONTAINED IN THIS MORTGAGE NOR ANY BREACH OF WARRANTY FROM CONSTITUTING
AN EVENT OF DEFAULT.
UPON THE OCCURRENCE OF AN EVENT OF DEFAULT, THE MORTGAGOR
HEREBY APPOINTS THE MORTGAGEE ITS ATTORNEY-IN-FACT, WITH FULL AUTHORITY IN THE
PLACE AND STEAD OF THE MORTGAGOR AND IN THE NAME OF THE MORTGAGOR TO TAKE ANY
ACTION AND TO EXECUTE ANY INSTRUMENT CONSISTENT WITH THE TERMS HEREOF AND THE
OTHER SECURITY DOCUMENTS WHICH THE MORTGAGEE MAY DEEM NECESSARY OR ADVISABLE TO
ACCOMPLISH THE PURPOSES HEREOF.
THE FOREGOING GRANT OF AUTHORITY IS A POWER OF
ATTORNEY COUPLED WITH AN INTEREST AND SUCH APPOINTMENT SHALL BE IRREVOCABLE FOR
THE TERM HEREOF.
THE