NOTICE TO OR DEMAND ON TRUSTOR AND WITHOUT
RELEASING TRUSTOR FROM ANY OBLIGATION HEREUNDER, MAKE ANY PAYMENT OR DO ANY ACT
REQUIRED OF TRUSTOR HEREUNDER IN SUCH MANNER AND TO SUCH EXTENT AS BENEFICIARY
MAY DEEM NECESSARY TO PROTECT THE SECURITY HEREOF.
BENEFICIARY IS AUTHORIZED TO
ENTER UPON THE PROPERTY FOR SUCH PURPOSES, OR APPEAR IN, DEFEND, OR BRING ANY
ACTION OR PROCEEDING TO PROTECT ITS INTEREST IN THE PROPERTY OR TO FORECLOSE
THIS SECURITY INSTRUMENT OR COLLECT THE DEBT, AND THE COST AND EXPENSE THEREOF
(INCLUDING REASONABLE ATTORNEYS' FEES TO THE EXTENT PERMITTED BY LAW), WITH
INTEREST AS PROVIDED IN THIS SECTION 7.4, SHALL CONSTITUTE A PORTION OF THE DEBT
AND SHALL BE DUE AND PAYABLE TO BENEFICIARY UPON DEMAND.
ALL SUCH COSTS AND
EXPENSES INCURRED BY BENEFICIARY IN REMEDYING SUCH EVENT OF DEFAULT OR SUCH
FAILED PAYMENT OR ACT OR IN APPEARING IN, DEFENDING, OR BRINGING ANY SUCH ACTION
OR PROCEEDING SHALL BEAR INTEREST AT THE DEFAULT RATE, FOR THE PERIOD AFTER SUCH
COST OR EXPENSE WAS INCURRED TO THE DATE OF PAYMENT TO BENEFICIARY.
ALL SUCH
COSTS AND EXPENSES INCURRED BY BENEFICIARY TOGETHER WITH INTEREST THEREON
CALCULATED AT THE DEFAULT RATE SHALL BE DEEMED TO CONSTITUTE A PORTION OF THE
DEBT AND BE SECURED BY THIS SECURITY INSTRUMENT AND THE OTHER LOAN DOCUMENTS AND
SHALL BE IMMEDIATELY DUE AND PAYABLE UPON DEMAND BY BENEFICIARY THEREFOR.
SECTION 7.5.
ACTIONS AND PROCEEDINGS.
BENEFICIARY HAS THE RIGHT TO
APPEAR IN AND DEFEND ANY ACTION OR PROCEEDING BROUGHT WITH RESPECT TO THE
PROPERTY AND TO BRING ANY ACTION OR PROCEEDING, IN THE NAME AND ON BEHALF OF
TRUSTOR, WHICH BENEFICIARY, IN ITS DISCRETION, DECIDES SHOULD BE BROUGHT TO
PROTECT ITS INTEREST IN THE PROPERTY.
SECTION 7.6.
RECOVERY OF SUMS REQUIRED TO BE PAID.
TO THE EXTENT
PERMITTED BY APPLICABLE LAW, UPON THE OCCURRENCE OF AN EVENT OF DEFAULT,
BENEFICIARY SHALL HAVE THE RIGHT FROM TIME TO TIME TO TAKE ACTION TO RECOVER ANY
SUM OR SUMS WHICH CONSTITUTE A PART OF THE DEBT AS THE SAME BECOME DUE, WITHOUT
REGARD TO WHETHER OR NOT THE BALANCE OF THE DEBT SHALL BE DUE, AND WITHOUT
PREJUDICE TO THE RIGHT OF BENEFICIARY THEREAFTER TO BRING AN ACTION OF
FORECLOSURE, OR ANY OTHER ACTION, FOR A DEFAULT OR DEFAULTS BY TRUSTOR EXISTING
AT THE TIME SUCH EARLIER ACTION WAS COMMENCED.
SECTION 7.7.
OTHER RIGHTS, ETC.
(A)
THE FAILURE OF BENEFICIARY TO
INSIST UPON STRICT PERFORMANCE OF ANY TERM HEREOF SHALL NOT BE DEEMED TO BE A
WAIVER OF ANY TERM OF THIS SECURITY INSTRUMENT.
TRUSTOR SHALL NOT BE RELIEVED
OF TRUSTOR'S OBLIGATIONS HEREUNDER BY REASON OF (I) THE FAILURE OF BENEFICIARY
TO COMPLY WITH ANY REQUEST OF TRUSTOR OR ANY GUARANTOR OR INDEMNITOR WITH
RESPECT TO THE LOAN TO TAKE ANY ACTION TO FORECLOSE THIS SECURITY INSTRUMENT OR
OTHERWISE ENFORCE ANY OF THE PROVISIONS HEREOF OR OF THE NOTE OR THE OTHER LOAN
DOCUMENTS, (II) THE RELEASE, REGARDLESS OF CONSIDERATION, OF THE WHOLE OR ANY
PART OF THE PROPERTY, OR OF ANY PERSON LIABLE