A WRIT OF PREJUDGMENT REMEDY WITHOUT COURT ORDER.
FURTHER,
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BORROWER HEREBY WAIVES, TO THE EXTENT PERMITTED BY LAW, THE BENEFITS OF ALL
VALUATION, APPRAISEMENTS, HOMESTEAD, EXEMPTION, STAY, REDEMPTION AND MORATORIUM
LAWS NOW IN FORCE OR WHICH MAY HEREAFTER BECOME LAWS. BORROWER ACKNOWLEDGES THAT
IT IS ENGAGED PRIMARILY IN COMMERCIAL PURSUITS AND THAT THE PROCEEDS FROM THIS
MORTGAGE ARE TO BE UTILIZED IN BUSINESS ACTIVITIES AND WILL NOT BE UTILIZED FOR
CONSUMER PURPOSES.
FURTHER, IN THE EVENT LENDER SEEKS TO TAKE POSSESSION OF ANY OR ALL OF THE
PROPERTY BY COURT PROCESS OR OTHER METHOD AVAILABLE UNDER THE LAW, BORROWER
IRREVOCABLY WAIVES ANY BOND AND ANY SURETY OR SECURITY RELATING THERETO REQUIRED
BY ANY STATUTE, COURT RULE OR OTHERWISE AS AN INCIDENT TO SUCH POSSESSION, AND
WAIVES ANY DEMAND FOR POSSESSION PRIOR TO THE COMMENCEMENT OF ANY SUIT OR ACTION
TO RECOVER WITH RESPECT THERETO.
SPECIFICALLY, BORROWER RECOGNIZES AND UNDERSTANDS THAT THE EXERCISE OF THE
RIGHTS DESCRIBED ABOVE MAY RESULT IN THE ATTACHMENT OF OR LEVY AGAINST
BORROWER'S PROPERTY, AND SUCH WRIT FOR A PREJUDGMENT REMEDY WILL NOT HAVE THE
PRIOR WRITTEN APPROVAL OR SCRUTINY OF A COURT OF LAW OR OTHER JUDICIAL OFFICER
AND BORROWER WILL NOT HAVE THE RIGHT TO ANY NOTICE OR PRIOR HEARING WHERE
BORROWER MIGHT CONTEST SUCH A PROCEDURE.
THE INTENT OF BORROWER IS TO GRANT TO LENDER FOR GOOD AND VALUABLE
CONSIDERATION, THE RIGHT TO OBTAIN SUCH A PREJUDGMENT REMEDY AND TO EXPRESS ITS
BELIEF THAT ANY SUCH PREJUDGMENT REMEDY OBTAINED IS VALID AND CONSTITUTIONAL
UNLESS A COURT OF COMPETENT JURISDICTION SHOULD DETERMINE OTHERWISE.
FURTHER, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BORROWER HEREBY
WAIVES DEMAND, PRESENTMENT FOR PAYMENT, PROTEST, NOTICE OF PROTEST, NOTICE OF
DISHONOR, DILIGENCE IN COLLECTION, NOTICE OF NONPAYMENT OF THE CREDIT AGREEMENT
AND THE NOTES AND ANY AND ALL NOTICES OF A LIKE NATURE.
FURTHER, TO THE EXTENT
NOT OTHERWISE EXPRESSLY PROVIDED HEREIN, BORROWER EXPRESSLY WAIVES ALL DEFENSES
BASED UPON SURETYSHIP OR IMPAIRMENT OF COLLATERAL.
4.14
Further Assurances; After-Acquired Property.
At any
time, and from time to time, at Borrower's expense and upon request by Lender,
Borrower shall make, execute and deliver or cause to be made, executed and
delivered, to Lender and, where appropriate, cause to be recorded and/or filed
and from time to time thereafter to be re-recorded and/or refilled at such time
and in such offices and places as shall be deemed desirable by Lender, any and
all such other and further deeds to secure debt, mortgages, deeds of trust,
security agreements, financing statements, continuation statements, instruments
of further assurances, certificates and other documents as may, in the opinion
of Lender, be necessary or desirable in order to effectuate,
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complete or perfect, or to continue and preserve, [i] the obligations of
Borrower described in the Note and under this Mortgage and [ii] the lien of this
Mortgage as a first and prior lien upon and security interest in and to all of
the Property, whether now owned or hereafter acquired by Borrower, subject