of any one
or more of the following:
6.1
PAYMENT OF INDEBTEDNESS. GRANTOR SHALL FAIL, REFUSE, OR NEGLECT TO
PAY, IN FULL, ANY INSTALLMENT OR PORTION OF THE INDEBTEDNESS AS AND WHEN THE
SAME SHALL BECOME DUE AND PAYABLE, WHETHER AT THE DUE DATE THEREOF STIPULATED IN
THE LOAN DOCUMENTS, UPON ACCELERATION OR OTHERWISE, AND SUCH FAILURE CONTINUES
FOR A PERIOD OF TEN (10) DAYS AFTER THE DATE THE SAME IS DUE; PROVIDED, HOWEVER,
THAT IF SUCH INSTALLMENT OR PORTION OF THE INDEBTEDNESS BECOMES DUE AND PAYABLE
AS A RESULT OF BENEFICIARY'S ACCELERATING THE MATURITY OF THE INDEBTEDNESS IN
ACCORDANCE WITH THE LOAN DOCUMENTS, THE TEN (10) DAY PERIOD FOR PAYMENT SET
FORTH IN THIS SECTION SHALL NOT APPLY TO THE ACCELERATED DUE DATE.
6.2
PERFORMANCE OF OBLIGATIONS. GRANTOR SHALL FAIL, REFUSE OR NEGLECT
OR CAUSE THE FAILURE, REFUSAL, OR NEGLECT TO COMPLY WITH, PERFORM AND DISCHARGE
FULLY AND TIMELY AS AND WHEN REQUIRED ANY OF THE OBLIGATIONS OTHER THAN A
FAILURE, BREACH OR DEFAULT REFERRED TO IN SECTIONS 6.1, 6.3, 6.5, 6.6, 6.8 AND
6.9, (INCLUSIVE) AND SUCH FAILURE, BREACH OR DEFAULT SHALL EITHER NOT BE CURABLE
OR, IF CURABLE, SHALL REMAIN UNCURED FOR A PERIOD OF THIRTY (30) DAYS AFTER THE
EARLIER TO OCCUR OF (I) THE DATE BENEFICIARY (OR TRUSTEE) GIVES WRITTEN NOTICE
THEREOF TO GRANTOR OR (II) THE DATE UPON WHICH GRANTOR HAD ACTUAL KNOWLEDGE OF
THE TERM TO BE PERFORMED; PROVIDED, HOWEVER, THAT IF SUCH FAILURE, BREACH OR
DEFAULT IS CURABLE BUT REQUIRES WORK TO BE PERFORMED, ACTS TO BE DONE OR
CONDITIONS TO BE REMEDIED WHICH, BY THEIR NATURE, CANNOT BE PERFORMED, DONE OR
REMEDIED, AS THE CASE MAY BE, WITHIN SUCH THIRTY (30) DAY PERIOD, NO EVENT OF
DEFAULT SHALL BE DEEMED TO HAVE OCCURRED IF GRANTOR COMMENCES SAME WITHIN SUCH
THIRTY (30) DAY PERIOD AND THEREAFTER DILIGENTLY AND CONTINUOUSLY PROSECUTES THE
SAME TO COMPLETION WITHIN SIXTY (60) DAYS AFTER SUCH NOTICE OR DATE OF ACTUAL
KNOWLEDGE.
6.3
FALSE REPRESENTATION. ANY REPRESENTATION, WARRANTY, OR STATEMENT
MADE BY GRANTOR OR OTHERS UNDER OR PURSUANT TO THE LOAN DOCUMENTS OR ANY
AFFIDAVIT OR OTHER INSTRUMENT EXECUTED OR DELIVERED WITH RESPECT TO THE LOAN
DOCUMENTS OR THE INDEBTEDNESS IS DETERMINED BY BENEFICIARY TO BE FALSE OR
MISLEADING IN ANY MATERIAL RESPECT AS OF THE DATE HEREOF OR WHEN MADE.
16
6.4
DEFAULT UNDER OTHER LIEN DOCUMENT. GRANTOR SHALL DEFAULT OR COMMIT
AN EVENT OF DEFAULT UNDER AND PURSUANT TO ANY OTHER MORTGAGE OR SECURITY
AGREEMENT WHICH COVERS OR AFFECTS ANY PART OF THE MORTGAGED PROPERTY.
6.5
INSOLVENCY; BANKRUPTCY. GRANTOR (I) SHALL EXECUTE AN ASSIGNMENT
FOR THE BENEFIT OF CREDITORS OR AN ADMISSION IN WRITING BY GRANTOR OF GRANTOR'S
INABILITY TO PAY, OR GRANTOR'S FAILURE TO PAY, DEBTS GENERALLY AS THE DEBTS
BECOME DUE; OR (II) SHALL ALLOW THE LEVY AGAINST THE MORTGAGED PROPERTY OR ANY
PART THEREOF, OF ANY EXECUTION, ATTACHMENT, SEQUESTRATION OR OTHER WRIT WHICH IS
NOT VACATED WITHIN SIXTY (60) DAYS AFTER THE LEVY; OR (III) SHALL ALLOW THE
APPOINTMENT OF A RECEIVER,