THE PROPERTY OR TO FORECLOSE
THIS SECURITY INSTRUMENT OR COLLECT THE DEBT, AND THE COST AND EXPENSE THEREOF
(INCLUDING REASONABLE ATTORNEYS' FEES TO THE EXTENT PERMITTED BY LAW), WITH
INTEREST AS PROVIDED IN THIS SECTION 7.4, SHALL CONSTITUTE A PORTION OF THE DEBT
AND SHALL BE DUE AND PAYABLE TO BENEFICIARY UPON DEMAND.
ALL SUCH COSTS AND
EXPENSES INCURRED BY BENEFICIARY IN REMEDYING SUCH EVENT OF DEFAULT OR SUCH
FAILED PAYMENT OR ACT OR IN APPEARING IN, DEFENDING, OR BRINGING ANY SUCH ACTION
OR PROCEEDING SHALL BEAR INTEREST AT THE DEFAULT RATE, FOR THE PERIOD AFTER SUCH
COST OR EXPENSE WAS INCURRED TO THE DATE OF PAYMENT TO BENEFICIARY.
ALL SUCH
COSTS AND EXPENSES INCURRED BY BENEFICIARY TOGETHER WITH INTEREST THEREON
CALCULATED AT THE DEFAULT RATE SHALL BE DEEMED TO CONSTITUTE A PORTION OF THE
DEBT AND BE SECURED BY THIS SECURITY INSTRUMENT AND THE OTHER LOAN DOCUMENTS AND
SHALL BE IMMEDIATELY DUE AND PAYABLE UPON DEMAND BY BENEFICIARY THEREFOR.
SECTION 7.5.
ACTIONS AND PROCEEDINGS.
BENEFICIARY HAS THE RIGHT TO
APPEAR 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
TRUSTOR, WHICH BENEFICIARY, IN ITS DISCRETION, DECIDES SHOULD BE BROUGHT TO
PROTECT ITS INTEREST IN THE PROPERTY.
SECTION 7.6.
OTHER RIGHTS, ETC.
(A)
THE FAILURE OF BENEFICIARY TO
INSIST UPON STRICT PERFORMANCE OF ANY TERM HEREOF SHALL NOT BE DEEMED TO BE A
WAIVER OF ANY TERM OF THIS SECURITY INSTRUMENT.
TRUSTOR SHALL NOT BE RELIEVED
OF TRUSTOR'S OBLIGATIONS HEREUNDER BY REASON OF (I) THE FAILURE OF BENEFICIARY
TO COMPLY WITH ANY REQUEST OF TRUSTOR, BORROWER OR ANY GUARANTOR OR INDEMNITOR
WITH RESPECT TO THE LOAN TO TAKE ANY ACTION TO FORECLOSE THIS SECURITY
INSTRUMENT 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 DEBT OR ANY
PORTION THEREOF, OR (III) ANY AGREEMENT OR STIPULATION BY BENEFICIARY
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EXTENDING THE TIME OF PAYMENT OR OTHERWISE MODIFYING OR SUPPLEMENTING THE TERMS
OF THE NOTE, THIS SECURITY INSTRUMENT OR THE OTHER LOAN DOCUMENTS.
(B)
IT IS AGREED THAT THE RISK OF LOSS OR DAMAGE TO THE PROPERTY IS ON
TRUSTOR, AND BENEFICIARY SHALL HAVE NO LIABILITY WHATSOEVER FOR DECLINE IN VALUE
OF THE PROPERTY, FOR FAILURE TO MAINTAIN THE POLICIES, OR FOR FAILURE TO
DETERMINE WHETHER INSURANCE IN FORCE IS ADEQUATE AS TO THE AMOUNT OF RISKS
INSURED.
POSSESSION BY BENEFICIARY SHALL NOT BE DEEMED AN ELECTION OF JUDICIAL
RELIEF IF ANY SUCH POSSESSION IS REQUESTED OR OBTAINED WITH RESPECT TO ANY
PROPERTY OR COLLATERAL NOT IN BENEFICIARY'S POSSESSION.
(C)
BENEFICIARY MAY RESORT FOR THE PAYMENT OF THE DEBT TO ANY OTHER
SECURITY HELD BY BENEFICIARY IN SUCH ORDER AND MANNER AS BENEFICIARY, IN ITS
DISCRETION, MAY ELECT.
TO THE EXTENT PERMITTED BY APPLICABLE LAW, BENEFICIARY
MAY TAKE ACTION TO RECOVER THE DEBT,