HEREOF OR ANY OF THE OTHER LOAN INSTRUMENTS;
(B) TO FORECLOSE THIS MORTGAGE AND TO HAVE SOLD, AS AN ENTIRETY OR IN SEPARATE
LOTS OR PARCELS, THE MORTGAGED PROPERTY; AND (C) TO PURSUE ANY OTHER REMEDY
AVAILABLE TO IT.
LENDER MAY TAKE ACTION EITHER BY SUCH PROCEEDINGS OR BY THE
EXERCISE OF ITS POWERS WITH RESPECT TO ENTRY OR TAKING POSSESSION, OR BOTH, AS
LENDER MAY DETERMINE.
WITHOUT LIMITATION OF THE FOREGOING, IF AN EVENT OF
DEFAULT SHALL HAVE OCCURRED, AS AN ALTERNATIVE TO THE RIGHT OF FORECLOSURE FOR
THE FULL INDEBTEDNESS EVIDENCED BY THE GUARANTY AND THE INTEREST ACCRUED THEREON
AND ANY OTHER MORTGAGOR'S LIABILITIES, AFTER ACCELERATION THEREOF, LENDER SHALL
HAVE THE RIGHT TO INSTITUTE PARTIAL FORECLOSURE PROCEEDINGS WITH RESPECT TO THE
PORTION OF MORTGAGOR'S LIABILITIES SO IN DEFAULT, AS IF UNDER A FULL
FORECLOSURE, AND WITHOUT DECLARING ALL OF MORTGAGOR'S LIABILITIES TO BE
IMMEDIATELY DUE AND PAYABLE (SUCH PROCEEDINGS BEING REFERRED TO HEREIN AS
"PARTIAL FORECLOSURE"), AND PROVIDED THAT, IF LENDER HAS NOT ELECTED TO
ACCELERATE ALL OF MORTGAGOR'S LIABILITIES AND A FORECLOSURE SALE IS MADE BECAUSE
OF DEFAULT IN PAYMENT OF ONLY A PART OF MORTGAGOR'S LIABILITIES, SUCH SALE MAY
BE MADE SUBJECT TO THE CONTINUING LIEN OF THIS MORTGAGE FOR THE UNMATURED PART
OF MORTGAGOR'S LIABILITIES.
ANY SALE PURSUANT TO A PARTIAL FORECLOSURE, IF SO
MADE, SHALL NOT IN ANY MANNER AFFECT THE UNMATURED PORTION OF MORTGAGOR'S
LIABILITIES, BUT AS TO SUCH UNMATURED PORTION, THIS MORTGAGE AND THE LIEN
THEREOF SHALL REMAIN IN FULL FORCE AND EFFECT JUST AS THOUGH NO FORECLOSURE SALE
HAD BEEN MADE.
NOTWITHSTANDING THE FILING OF ANY PARTIAL FORECLOSURE OR ENTRY
OF A DECREE OF SALE THEREIN, LENDER MAY ELECT, AT ANY TIME PRIOR TO A
FORECLOSURE SALE PURSUANT TO SUCH DECREE, TO DISCONTINUE SUCH PARTIAL
FORECLOSURE AND TO ACCELERATE MORTGAGOR'S LIABILITIES BY REASON OF ANY EVENT OF
DEFAULT UPON WHICH SUCH PARTIAL FORECLOSURE WAS PREDICATED OR BY REASON OF ANY
OTHER DEFAULTS, AND PROCEED WITH FULL
22
FORECLOSURE PROCEEDINGS.
LENDER MAY PROCEED WITH ONE OR MORE PARTIAL
FORECLOSURES WITHOUT EXHAUSTING ITS RIGHT TO PROCEED WITH A FULL OR PARTIAL
FORECLOSURE SALE FOR ANY UNMATURED PORTION OF MORTGAGOR'S LIABILITIES, IT BEING
THE PURPOSE TO PERMIT, FROM TIME TO TIME A PARTIAL FORECLOSURE SALE FOR ANY
MATURED PORTION OF MORTGAGOR'S LIABILITIES WITHOUT EXHAUSTING THE POWER TO
FORECLOSE AND TO SELL THE MORTGAGED PROPERTY PURSUANT TO ANY PARTIAL FORECLOSURE
IN RESPECT OF ANY OTHER PORTION OF MORTGAGOR'S LIABILITIES, WHETHER MATURED AT
THE TIME OR SUBSEQUENTLY MATURING, AND WITHOUT EXHAUSTING AT ANY TIME THE RIGHT
OF ACCELERATION AND THE RIGHT TO PROCEED WITH A FULL FORECLOSURE.
3.3.
LENDER'S RIGHT TO ENTER AND TAKE POSSESSION, OPERATE AND APPLY
INCOME.
(A)
IF AN EVENT OF DEFAULT SHALL HAVE OCCURRED, (I) MORTGAGOR, UPON
DEMAND OF LENDER, SHALL FORTHWITH SURRENDER TO LENDER THE ACTUAL POSSESSION OF
THE MORTGAGED PROPERTY, AND TO THE EXTENT PERMITTED BY LAW, LENDER ITSELF, OR BY
SUCH OFFICERS OR AGENTS AS IT MAY APPOINT, IS HEREBY EXPRESSLY AUTHORIZED TO
ENTER AND TAKE POSSESSION OF