REMEDIES.
UPON THE OCCURRENCE OF ANY EVENT OF DEFAULT AND IN ADDITION
TO ALL REMEDIES CONFERRED UPON LENDER BY LAW OR IN EQUITY, BY THE TERMS OF THE
LOAN DOCUMENTS, OR BY THE TERMS OF ANY OTHER DOCUMENTS SERVING AS SECURITY FOR
BORROWER'S INDEBTEDNESS, LENDER MAY PURSUE ANY ONE OR MORE OF THE FOLLOWING
REMEDIES:
(A)
TO CANCEL THIS AGREEMENT BY WRITTEN NOTICE TO BORROWER, IN WHICH
EVENT LENDER SHALL BE FULLY RELEASED AND RELIEVED OF ALL OBLIGATIONS AND
LIABILITIES TO BORROWER.
(B)
TO INSTITUTE APPROPRIATE PROCEEDINGS TO SPECIFICALLY ENFORCE
PERFORMANCE HEREOF.
(C)
TO WITHHOLD FURTHER ADVANCES HEREUNDER.
(D)
TO TAKE IMMEDIATE POSSESSION OF THE PROJECT AND BORROWER'S
LEASEHOLD INTEREST IN THE PROPERTY, AS WELL AS ALL OTHER PROPERTY TO WHICH FEE
OR LEASEHOLD TITLE IS HELD BY BORROWER (AND WHICH LENDER HAS A SECURITY
INTEREST) AS IS NECESSARY TO FULLY COMPLETE ALL ON-SITE AND OFF-SITE
IMPROVEMENTS CONTEMPLATED TO BE DEVELOPED AND/OR CONSTRUCTED UNDER THIS
AGREEMENT.
(E)
TO APPOINT A RECEIVER AS A MATTER OF STRICT RIGHT WITHOUT REGARD
TO THE SOLVENCY OF BORROWER FOR THE PURPOSE OF PRESERVING THE PROPERTY ABOVE
DESCRIBED, PREVENTING WASTE, AND TO PROTECT ALL RIGHTS ACCRUING TO LENDER BY
VIRTUE OF THIS AGREEMENT, OR UNDER THE LOAN DOCUMENTS AND EXPRESSLY TO MAKE ANY
AND ALL FURTHER IMPROVEMENTS, WHETHER ON-SITE OR OFF-SITE, AS MAY BE DETERMINED
BY LENDER FOR THE PURPOSE OF COMPLETING THE PROJECT IN ACCORDANCE WITH THIS
AGREEMENT.
ALL EXPENSE INCURRED IN CONNECTION WITH THE APPOINTMENT OF SAID
RECEIVER, OR IN PROTECTING, PRESERVING, OR IMPROVING THE PROPERTY OR THE
PROJECT, SHALL BE CHARGEABLE AGAINST BORROWER AND SHALL BE ENFORCED AS A LIEN
AGAINST THE PROPERTY AND THE PROJECT.
(F)
TO ACCELERATE MATURITY OF THE LEASEHOLD MORTGAGE, AND/OR THE
NOTES, AND DEMAND PAYMENT OF THE PRINCIPAL SUMS DUE THEREUNDER WITH INTEREST,
ADVANCES, AND COSTS, AND IN DEFAULT OF SAID PAYMENT OR ANY PART THEREOF, TO
EXERCISE THE POWER OF SALE IF GIVEN AND AVAILABLE, AND PURSUE ITS OTHER RIGHTS
AND REMEDIES UNDER THE LEASEHOLD MORTGAGE OR THE OTHER LOAN DOCUMENTS.
(G)
TO FORECLOSE AND TO ENFORCE COLLECTION OF SUCH PAYMENT BY
FORECLOSURE UNDER THE LEASEHOLD MORTGAGE, AND/OR OTHER APPROPRIATE ACTION IN ANY
COURT OF COMPETENT JURISDICTION.
(H)
UPON OR AFTER THE OCCURRENCE AND DURING THE CONTINUATION OF ANY
EVENT OF DEFAULT, LENDER IS HEREBY AUTHORIZED AT ANY TIME AND FROM TIME TO TIME,
WITHOUT NOTICE TO THE BORROWER (ANY SUCH NOTICE BEING HEREBY WAIVED BY THE
BORROWER), TO SET-OFF AND APPLY ANY AND ALL DEPOSITS (GENERAL OR SPECIAL, TIME
OR DEMAND, PROVISIONAL OR FINAL) AT ANY TIME HELD AND OTHER INDEBTEDNESS AT ANY
TIME OWING BY LENDER TO OR FOR THE CREDIT OR THE ACCOUNT OF THE BORROWER AGAINST
ANY AND ALL OF THE OBLIGATIONS OF BORROWER TO LENDER IRRESPECTIVE OF WHETHER OR
NOT LENDER SHALL HAVE MADE ANY DEMAND UNDER THIS AGREEMENT OR THE OTHER LOAN
DOCUMENTS AND ALTHOUGH SUCH OBLIGATIONS MAY BE UNMATURED.
THE RIGHTS OF LENDER
HEREUNDER ARE IN ADDITION TO OTHER RIGHTS AND REMEDIES (INCLUDING, WITHOUT
LIMITATION, OTHER RIGHTS OF SET-OFF)