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 MORTGAGOR, WHICH
MORTGAGEE, IN ITS REASONABLE DISCRETION, DECIDES SHOULD BE BROUGHT TO PROTECT
ITS INTEREST IN THE PROPERTY.
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SECTION 7.5
RECOVERY OF SUMS REQUIRED TO BE PAID.
MORTGAGEE SHALL HAVE THE
RIGHT FROM TIME TO TIME TO TAKE ACTION TO RECOVER ANY SUM OR SUMS WHICH
CONSTITUTE A PART OF THE INDEBTEDNESS AS THE SAME BECOME DUE, WITHOUT REGARD TO
WHETHER OR NOT THE BALANCE OF THE INDEBTEDNESS SHALL BE DUE, AND WITHOUT
PREJUDICE TO THE RIGHT OF MORTGAGEE THEREAFTER TO BRING AN ACTION OF
FORECLOSURE, OR ANY OTHER ACTION, FOR ANY DEFAULT OR EVENT OF DEFAULT BY
MORTGAGOR EXISTING AT THE TIME SUCH EARLIER ACTION WAS COMMENCED.
SECTION 7.6
EXAMINATION OF BOOKS AND RECORDS.
AT REASONABLE TIMES AND UPON
REASONABLE NOTICE, MORTGAGEE, ITS AGENTS, ACCOUNTANTS AND ATTORNEYS SHALL HAVE
THE RIGHT TO EXAMINE THE RECORDS, BOOKS, MANAGEMENT AND OTHER PAPERS OF
MORTGAGOR WHICH REFLECT UPON ITS FINANCIAL CONDITION, AT THE PROPERTY OR AT ANY
OFFICE REGULARLY MAINTAINED BY MORTGAGOR WHERE THE BOOKS AND RECORDS ARE
LOCATED.
MORTGAGEE AND ITS AGENTS SHALL HAVE THE RIGHT TO MAKE COPIES AND
EXTRACTS FROM THE FOREGOING RECORDS AND OTHER PAPERS.
IN ADDITION, AT
REASONABLE TIMES AND UPON REASONABLE NOTICE, MORTGAGEE, ITS AGENTS, ACCOUNTANTS
AND ATTORNEYS SHALL HAVE THE RIGHT TO EXAMINE AND AUDIT THE BOOKS AND RECORDS OF
MORTGAGOR PERTAINING TO THE INCOME, EXPENSES AND OPERATION OF THE PROPERTY
DURING REASONABLE BUSINESS HOURS AT ANY OFFICE OF MORTGAGOR WHERE THE BOOKS AND
RECORDS ARE LOCATED.
SO LONG AS NO EVENT OF DEFAULT HAS OCCURRED AND IS
CONTINUING, MORTGAGEE MAY EXERCISE ITS RIGHTS UNDER THIS SECTION 7.6 NO MORE
THAN ONCE PER YEAR.
SECTION 7.7
OTHER RIGHTS, ETC.
(N) THE FAILURE OF MORTGAGEE TO INSIST UPON
STRICT PERFORMANCE OF ANY TERM HEREOF SHALL NOT BE DEEMED TO BE A WAIVER OF ANY
TERM OF THIS MORTGAGE.
MORTGAGOR SHALL NOT BE RELIEVED OF MORTGAGOR'S
OBLIGATIONS HEREUNDER BY REASON OF (I) THE FAILURE OF MORTGAGEE TO COMPLY WITH
ANY REQUEST OF MORTGAGOR OR ANY GUARANTOR OR INDEMNITOR WITH RESPECT TO THE LOAN
TO TAKE ANY ACTION TO FORECLOSE THIS MORTGAGE 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 FOR THE OBLIGATIONS OR ANY PORTION THEREOF OR (III) ANY AGREEMENT
OR STIPULATION BY MORTGAGEE EXTENDING THE TIME OF PAYMENT OR OTHERWISE MODIFYING
OR SUPPLEMENTING THE TERMS OF THE NOTE, THIS MORTGAGE OR THE OTHER LOAN
DOCUMENTS.
(O)
IT IS AGREED THAT THE RISK OF LOSS OR DAMAGE TO THE PROPERTY IS ON
MORTGAGOR, AND MORTGAGEE SHALL HAVE NO LIABILITY WHATSOEVER FOR DECLINE IN VALUE
OF THE PROPERTY, FOR FAILURE TO MAINTAIN THE INSURANCE POLICIES, OR FOR FAILURE
TO DETERMINE WHETHER INSURANCE IN FORCE IS ADEQUATE AS TO THE AMOUNT