ACT FILING") WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
THE SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED (THE "EXCHANGE ACT"), OR
PROVIDED OR MADE AVAILABLE TO INVESTORS OR PROSPECTIVE INVESTORS IN THE
SECURITIES, THE RATING AGENCIES, AND SERVICE PROVIDERS RELATING TO THE
SECURITIZATION.
IN THE EVENT THAT THE DISCLOSURE DOCUMENT IS REQUIRED TO BE
REVISED PRIOR TO THE SALE OF ALL SECURITIES, BORROWER WILL COOPERATE WITH THE
HOLDER OF THE NOTE IN UPDATING THE PROVIDED INFORMATION BY PROVIDING ALL CURRENT
INFORMATION REASONABLY NECESSARY TO KEEP THE PROVIDED INFORMATION ACCURATE AND
COMPLETE IN ALL MATERIAL RESPECTS.
SECTION 9.3
SERVICER.
AT THE OPTION OF LENDER, THE LOAN MAY BE
SERVICED BY A SERVICER/TRUSTEE (THE "SERVICER") SELECTED BY LENDER AND LENDER
MAY DELEGATE ALL OR ANY PORTION OF ITS RESPONSIBILITIES UNDER THIS AGREEMENT AND
THE OTHER LOAN DOCUMENTS TO THE SERVICER PURSUANT TO A SERVICING AGREEMENT (THE
"SERVICING AGREEMENT") BETWEEN LENDER AND SERVICER. BORROWER MAY RELY UPON THE
WRITTEN INSTRUCTIONS, APPROVALS, ACCEPTANCES, WAIVERS AND DECISIONS GIVEN TO
BORROWER BY SERVICER AS IF MADE BY LENDER AND LENDER AGREES TO BOUND THEREBY.
SECTION 9.4
RECOURSE.
The Debt shall be fully recourse to Borrower.
SECTION 9.5
WAIVERS.
(A)
BORROWER WAIVES:
(A)
ANY RIGHT TO REQUIRE LENDER TO PROCEED AGAINST ANY OTHER PERSON OR
TO PROCEED AGAINST OR EXHAUST ANY SECURITY HELD BY LENDER AT ANY TIME OR TO
PURSUE ANY OTHER REMEDY IN LENDER'S POWER BEFORE PROCEEDING AGAINST BORROWER;
(B)
ANY DEFENSE BASED UPON ANY LEGAL DISABILITY OR OTHER DEFENSE OF,
ANY GUARANTOR OF ANY OTHER PERSON OR BY REASON OF THE CESSATION OR LIMITATION OF
THE LIABILITY OF ANY GUARANTOR FROM ANY CAUSE OTHER THAN FULL PAYMENT OF ALL
SUMS PAYABLE UNDER THE NOTE, THIS AGREEMENT AND ANY OF THE OTHER LOAN DOCUMENTS;
(C)
ANY DEFENSE BASED UPON ANY STATUTE OR RULE OF LAW WHICH PROVIDES
THAT THE OBLIGATION OF A SURETY MUST BE NEITHER LARGER IN AMOUNT NOR IN ANY
OTHER RESPECTS MORE BURDENSOME THAN THAT OF A PRINCIPAL;
80
(D)
ANY DEFENSE BASED UPON ANY FAILURE BY LENDER TO OBTAIN COLLATERAL
FOR THE INDEBTEDNESS OR FAILURE BY LENDER TO PERFECT A LIEN ON ANY COLLATERAL;
(E)
PRESENTMENT, DEMAND, PROTEST AND NOTICE OF ANY KIND EXCEPT AS SET
FORTH IN THIS AGREEMENT;
(F)
ANY DEFENSE BASED UPON ANY FAILURE OF LENDER TO GIVE NOTICE OF
SALE OR OTHER DISPOSITION OF ANY COLLATERAL TO ANY OTHER PERSON OR ENTITY OR ANY
DEFECT IN ANY NOTICE THAT MAY BE GIVEN IN CONNECTION WITH ANY SALE OR
DISPOSITION OF ANY COLLATERAL;
(G)
ANY DEFENSE BASED UPON ANY ELECTION BY LENDER, IN ANY BANKRUPTCY
PROCEEDING, OF THE APPLICATION OR NON-APPLICATION OF SECTION 1111(6)(2) OF THE
BANKRUPTCY CODE OR ANY SUCCESSOR STATUTE;
(H)
ANY DEFENSE BASED UPON ANY USE OF CASH COLLATERAL UNDER SECTION 363
OF THE BANKRUPTCY CODE;
(I)
ANY DEFENSE BASED UPON ANY AGREEMENT OR STIPULATION ENTERED INTO
BY LENDER WITH RESPECT TO THE PROVISION OF ADEQUATE PROTECTION IN ANY BANKRUPTCY
PROCEEDING;