ITSELF PERFORM OR COMPLY, OR OTHERWISE CAUSE PERFORMANCE OR COMPLIANCE,
WITH SUCH AGREEMENT, THE REASONABLE EXPENSES OF LENDER INCURRED IN CONNECTION
WITH SUCH PERFORMANCE OR COMPLIANCE, TOGETHER WITH INTEREST AT THE DEFAULT RATE
IF SUCH EXPENSES ARE NOT PAID ON DEMAND, SHALL BE PAYABLE BY BORROWER TO LENDER
PROMPTLY AFTER DEMAND THEREFORE AND SHALL CONSTITUTE OBLIGATIONS SECURED HEREBY.
9.
REMEDIES.
IF AN EVENT OF DEFAULT SHALL OCCUR AND BE CONTINUING,
LENDER MAY EXERCISE, IN ADDITION TO ALL OTHER RIGHTS AND REMEDIES GRANTED IN
THIS AGREEMENT AND IN ANY OTHER INSTRUMENT OR AGREEMENT SECURING, EVIDENCING OR
RELATING TO THE DEBT, ALL TO THE EXTENT PERMITTED BY APPLICABLE LAW:
(A)
ALL RIGHTS AND REMEDIES OF A SECURED PARTY UNDER THE CODE IN
EFFECT IN EACH APPLICABLE JURISDICTION AND SUCH ADDITIONAL RIGHTS AND REMEDIES
TO WHICH A SECURED PARTY IS ENTITLED AT LAW OR IN EQUITY, INCLUDING, WITHOUT
LIMITATION, THE RIGHT, TO THE MAXIMUM EXTENT PERMITTED BY LAW, TO EXERCISE ALL
VOTING, CONSENSUAL AND OTHER POWERS OF OWNERSHIP PERTAINING TO THE COLLATERAL AS
IF LENDER WERE THE SOLE AND ABSOLUTE OWNER THEREOF (AND BORROWER AGREES TO TAKE
ALL SUCH ACTION AS MAY BE REASONABLY APPROPRIATE TO GIVE EFFECT TO SUCH RIGHT);
(B)
LENDER MAY MAKE ANY REASONABLE COMPROMISE OR SETTLEMENT DEEMED
DESIRABLE WITH RESPECT TO ANY OF THE COLLATERAL AND MAY EXTEND THE TIME OF
PAYMENT, ARRANGE FOR PAYMENT IN INSTALLMENTS, OR OTHERWISE MODIFY THE TERMS OF,
ANY OF THE COLLATERAL;
(C)
LENDER IN ITS DISCRETION MAY, IN ITS NAME OR IN THE NAME OF
BORROWER OR OTHERWISE, DEMAND, SUE FOR, COLLECT, DIRECT PAYMENT OF OR RECEIVE
ANY MONEY OR PROPERTY AT ANY TIME PAYABLE OR RECEIVABLE ON ACCOUNT OF OR IN
EXCHANGE FOR ANY OF THE COLLATERAL, BUT SHALL BE UNDER NO OBLIGATION TO DO SO.
Without limiting the generality of the foregoing but to the extent permitted by
Applicable Law, Lender, without demand of performance or other demand,
presentment, protest, advertisement or notice of any kind (except any notice
required by law referred to below or otherwise required hereby) to or upon
Borrower, Mortgage Borrower or any other Person (all and each of which demands,
presentments, protests, advertisements and notices, or other defenses, are
hereby waived to the extent permitted under applicable law), may in such
circumstances forthwith collect, receive, appropriate and realize upon the
Collateral, or any part thereof, and/or may forthwith sell, assign, give option
or options to purchase or otherwise dispose of and deliver the Collateral or any
part thereof (or contract to do any of the foregoing), in one or more parcels at
public or private sale or sales, in the over-the-counter market, at any
exchange, broker's board or office of Lender or elsewhere upon such terms and
conditions as it may deem advisable and at such prices as it may deem best in
its sole discretion, for cash or on credit or for future delivery without
assumption of any credit risk.
Lender shall have the right, without notice or
publication, to adjourn any public or private