TIME INSIST UPON, PLEAD, CLAIM OR TAKE THE BENEFIT OR ADVANTAGE OF
ANY LAW NOW OR HEREAFTER IN FORCE PROVIDING FOR ANY APPRAISEMENT, VALUATION,
STAY, EXTENSION OR REDEMPTION, HOMESTEAD, MORATORIUM, REINSTATEMENT, MARSHALING
OR FORBEARANCE, AND GRANTOR, FOR GRANTOR, GRANTOR'S REPRESENTATIVES, SUCCESSORS
AND ASSIGNS, AND FOR ANY AND ALL PERSONS EVER CLAIMING ANY INTEREST IN THE
PROPERTY, TO THE EXTENT PERMITTED BY APPLICABLE LAW,
30
HEREBY WAIVES AND RELEASES ALL RIGHTS OF REDEMPTION, VALUATION, APPRAISEMENT,
STAY OF EXECUTION AND ALL RIGHTS TO A MARSHALING OF ASSETS OF GRANTOR, INCLUDING
THE PROPERTY, OR TO A SALE IN INVERSE ORDER OF ALIENATION IN THE EVENT OF
FORECLOSURE OF THE LIENS AND/OR SECURITY INTERESTS HEREBY CREATED.
GRANTOR
SHALL NOT HAVE OR ASSERT ANY RIGHT UNDER ANY STATUTE OR RULE OF LAW PERTAINING
TO THE MARSHALING OF ASSETS, SALE IN INVERSE ORDER OF ALIENATION, THE EXEMPTION
OF HOMESTEAD, THE ADMINISTRATION OF ESTATES OF DECEDENTS, OR OTHER MATTERS
WHATSOEVER TO DEFEAT, REDUCE OR AFFECT THE RIGHT OF HOLDER AND LENDERS UNDER THE
TERMS OF THIS DEED OF TRUST TO A SALE OF THE PROPERTY FOR THE COLLECTION OF THE
SECURED INDEBTEDNESS WITHOUT ANY PRIOR OR DIFFERENT RESORT FOR COLLECTION, OR
THE RIGHT OF HOLDER AND LENDERS UNDER THE TERMS OF THIS DEED OF TRUST TO THE
PAYMENT OF THE SECURED INDEBTEDNESS OUT OF THE PROCEEDS OF SALE OF THE PROPERTY
IN PREFERENCE TO EVERY OTHER CLAIMANT WHATSOEVER.
SECTION 5.7
DELIVERY OF POSSESSION AFTER
FORECLOSURE.
IN THE EVENT THERE IS A FORECLOSURE SALE HEREUNDER AND AT THE TIME
OF SUCH SALE, GRANTOR OR GRANTOR'S REPRESENTATIVES, OR SUCCESSORS AS OWNERS OF
THE PROPERTY ARE OCCUPYING OR USING THE PROPERTY, OR ANY PART THEREOF, EACH AND
ALL SHALL IMMEDIATELY BECOME THE TENANT OF THE PURCHASER AT SUCH SALE, WHICH
TENANCY SHALL BE A TENANCY FROM DAY TO DAY, TERMINABLE AT THE WILL OF PURCHASER,
AT A REASONABLE RENTAL PER DAY BASED UPON THE VALUE OF THE PROPERTY OCCUPIED,
SUCH RENTAL TO BE DUE DAILY TO THE PURCHASER; AND TO THE EXTENT PERMITTED BY
APPLICABLE LAW, THE PURCHASER AT SUCH SALE SHALL, NOTWITHSTANDING ANY LANGUAGE
HEREIN APPARENTLY TO THE CONTRARY, HAVE THE SOLE OPTION TO DEMAND IMMEDIATE
POSSESSION FOLLOWING THE SALE OR TO PERMIT THE OCCUPANTS TO REMAIN AS TENANTS AT
WILL.
ARTICLE 6
MISCELLANEOUS
SECTION 6.1
SCOPE OF DEED OF TRUST.
THIS
DEED OF TRUST IS A DEED OF TRUST WITH RESPECT TO THAT PORTION OF THE PROPERTY
WHICH IS REAL PROPERTY, A SECURITY AGREEMENT WITH RESPECT TO THAT PORTION OF THE
PROPERTY WHICH IS PERSONAL PROPERTY (IT BEING AGREED THAT, WHENEVER POSSIBLE,
COMPONENTS OF THE PROPERTY SHALL BE DEEMED TO BE REAL PROPERTY RATHER THAN
PERSONAL PROPERTY), AN ASSIGNMENT OF RENTS AND LEASES, A FINANCING STATEMENT AND
FIXTURE FILING AND A COLLATERAL ASSIGNMENT.
IN ADDITION TO THE FOREGOING, THIS
DEED OF TRUST COVERS ALL PROCEEDS.
SECTION 6.2
EFFECTIVE AS A FINANCING
STATEMENT AND FIXTURE FILING.
THIS DEED OF TRUST SHALL BE EFFECTIVE AS A
FINANCING STATEMENT FILED AS A FIXTURE FILING WITH RESPECT TO ALL FIXTURES
INCLUDED