OBLIGATIONS OF THE SELLER UNDER ANY CONTRACTS, AND COLLECT
THE RENTS, PROFITS AND ALL RECEIPTS OF EVERY NATURE THEREFROM AS AGENT SHALL
DEEM BEST.
B.
REPAIRS AND IMPROVEMENTS.
UPON EVERY
SUCH ENTRY, AGENT MAY, BUT SHALL NOT BE OBLIGATED TO, EXERCISE ALL RIGHTS AND
POWERS OF MORTGAGOR, EITHER IN THE NAME OF MORTGAGOR, OR OTHERWISE AS AGENT
SHALL DETERMINE.
WITHOUT LIMITATION EXPRESS OR IMPLIED UPON THE GENERALITY OF
THE FOREGOING, AGENT SHALL HAVE THE RIGHT TO DO ALL THINGS NECESSARY OR
DESIRABLE IN ORDER TO KEEP IN FULL FORCE AND EFFECT ALL APPLICABLE LICENSES,
PERMITS AND AUTHORIZATIONS AND ANY AMENDMENTS THERETO.
10
C.
PAY COSTS AND EXPENSES.
UPON SUCH
ENTRY, AGENT MAY, AT ITS OPTION, BUT WITHOUT ANY OBLIGATION TO DO SO, DO ANY ONE
OR MORE OF THE FOLLOWING: PAY AND INCUR ALL EXPENSES NECESSARY OR DEEMED BY IT
APPROPRIATE FOR THE HOLDING AND OPERATING OF THE MORTGAGED PROPERTY, THE CONDUCT
OF ANY BUSINESS THEREON, THE MAINTENANCE OF THE MORTGAGED PROPERTY, INCLUDING
WITHOUT LIMITATION PAYMENTS OF TAXES, ASSESSMENTS, INSURANCE, WAGES OF EMPLOYEES
CONNECTED WITH THE MORTGAGED PROPERTY OR ANY BUSINESS CONDUCTED THEREON, CHARGES
AND REASONABLE COMPENSATION FOR SERVICES OF AGENT, ITS ATTORNEYS AND ACCOUNTANTS
AND ALL OTHER PERSONS ENGAGED OR EMPLOYED IN CONNECTION WITH THE MORTGAGED
PROPERTY OR OF ANY BUSINESS CONDUCTED THEREON AND, IN ADDITION, AGENT, AT ITS
OPTION, MAY, BUT SHALL NOT BE OBLIGATED TO, MAKE PAYMENTS OR INCUR LIABILITY
WITH RESPECT TO OBLIGATIONS ARISING PRIOR TO THE DATE IT TAKES POSSESSION.
D.
ADD TO SECURED INDEBTEDNESS.
ALL
OBLIGATIONS SO PAID OR INCURRED BY AGENT SHALL BE REIMBURSED OR PAID FOR BY
MORTGAGOR UPON DEMAND AND PRIOR TO THE REPAYMENT THEREOF SHALL BE ADDED TO THE
DEBT SECURED HEREBY AND SHALL BEAR INTEREST AT THE DEFAULT RATE PROVIDED FOR IN
THE GUARANTY OR THE LOAN AGREEMENT, AND SHALL BE SECURED HEREBY EQUALLY AND
RATABLY.
AGENT MAY ALSO REIMBURSE ITSELF THEREFOR FROM THE INCOME OR RECEIPTS
OF THE MORTGAGED PROPERTY OR ANY BUSINESS CONDUCTED THEREON, OR FROM THE SALE OF
ALL OR ANY PORTION OF THE MORTGAGED PROPERTY.
AGENT MAY ALSO APPLY TOWARD ANY
OF THE OBLIGATIONS ANY TAX OR INSURANCE RESERVE ACCOUNT, DEPOSIT OR ANY SUM
CREDITED OR DUE FROM AGENT TO MORTGAGOR WITHOUT FIRST ENFORCING ANY OTHER RIGHTS
OF AGENT AGAINST MORTGAGOR OR THE AGAINST ANY OTHER GUARANTOR OF ANY OF THE
OBLIGATIONS OR AGAINST THE MORTGAGED PROPERTY.
E.
ATTORNEY-IN-FACT.
MORTGAGOR HEREBY
IRREVOCABLY CONSTITUTES AND APPOINTS AGENT, OR ANY AGENT DESIGNATED BY AGENT,
FOR SO LONG AS THIS MORTGAGE REMAINS UNDISCHARGED OF RECORD, AS ATTORNEY-IN-FACT
OF MORTGAGOR TO EXECUTE, ACKNOWLEDGE, SEAL AND DELIVER ALL INSTRUMENTS,
AGREEMENTS, DEEDS, CERTIFICATES AND OTHER DOCUMENTS OF EVERY NATURE AND
DESCRIPTION IN ORDER TO CARRY OUT OR IMPLEMENT THE EXERCISE OF AGENT'S RIGHTS
HEREUNDER AND UNDER THE OTHER LOAN DOCUMENTS.
F.
FORECLOSURE.
AGENT MAY INSTITUTE AN
ACTION OF MORTGAGE FORECLOSURE, OR TAKE SUCH OTHER ACTION AT LAW OR IN EQUITY
FOR THE ENFORCEMENT OF THIS MORTGAGE AND REALIZATION ON THE MORTGAGE SECURITY OR
ANY OTHER SECURITY HEREIN OR ELSEWHERE PROVIDED