SECTION 13.05.
INTEREST AFTER DEFAULT.
IF ANY AMOUNT DUE UNDER THE NOTE, THIS
SECURITY INSTRUMENT OR ANY OF THE OTHER LOAN DOCUMENTS IS NOT PAID WITHIN ANY
APPLICABLE NOTICE AND GRACE PERIOD AFTER SAME IS DUE, WHETHER SUCH DATE IS THE
STATED DUE DATE, ANY ACCELERATED DUE DATE OR ANY OTHER DATE OR AT ANY OTHER TIME
SPECIFIED UNDER ANY OF THE TERMS HEREOF OR THEREOF, THEN, IN SUCH EVENT,
BORROWER SHALL PAY INTEREST ON THE AMOUNT NOT SO PAID FROM AND AFTER THE DATE ON
WHICH SUCH AMOUNT FIRST BECOMES DUE AT THE DEFAULT RATE; AND SUCH INTEREST SHALL
BE DUE AND PAYABLE AT SUCH RATE UNTIL THE EARLIER OF THE CURE OF ALL EVENTS OF
DEFAULT OR THE PAYMENT OF THE ENTIRE AMOUNT DUE TO LENDER, WHETHER OR NOT ANY
ACTION SHALL HAVE BEEN TAKEN OR PROCEEDING COMMENCED TO RECOVER THE SAME OR TO
FORECLOSE THIS SECURITY INSTRUMENT.
ALL UNPAID AND ACCRUED INTEREST SHALL BE
SECURED BY THIS SECURITY INSTRUMENT AS PART OF THE DEBT.
NOTHING IN THIS
SECTION 13.05 OR IN ANY OTHER PROVISION OF THIS SECURITY INSTRUMENT SHALL
CONSTITUTE AN EXTENSION OF THE TIME FOR PAYMENT OF THE DEBT.
SECTION 13.06.
BORROWER'S ACTIONS AFTER DEFAULT.
UPON THE OCCURRENCE AND
DURING THE CONTINUANCE OF ANY EVENT OF DEFAULT AND IMMEDIATELY UPON THE
COMMENCEMENT OF ANY ACTION, SUIT OR OTHER LEGAL PROCEEDINGS BY LENDER TO OBTAIN
JUDGMENT FOR THE DEBT, OR OF ANY OTHER NATURE
91
IN AID OF THE ENFORCEMENT OF THE LOAN DOCUMENTS, BORROWER WILL (A) AFTER RECEIPT
OF NOTICE OF THE INSTITUTION OF ANY SUCH ACTION, WAIVE THE ISSUANCE AND SERVICE
OF PROCESS AND ENTER ITS VOLUNTARY APPEARANCE IN SUCH ACTION, SUIT OR
PROCEEDING, AND (B) IF REQUIRED BY LENDER, CONSENT TO THE APPOINTMENT OF A
RECEIVER OR RECEIVERS OF THE PROPERTY OR ANY PART THEREOF AND OF ALL THE
EARNINGS, REVENUES, RENTS, ISSUES, PROFITS AND INCOME THEREOF.
SECTION 13.07.
CONTROL BY LENDER AFTER DEFAULT.
NOTWITHSTANDING THE
APPOINTMENT OF ANY CUSTODIAN, RECEIVER, LIQUIDATOR OR TRUSTEE OF BORROWER, OR OF
ANY OF ITS PROPERTY, OR OF THE PROPERTY OR ANY PART THEREOF, TO THE EXTENT
PERMITTED BY LEGAL REQUIREMENTS, LENDER SHALL BE ENTITLED TO OBTAIN POSSESSION
AND CONTROL OF ALL PROPERTY NOW AND HEREAFTER COVERED BY THIS SECURITY
INSTRUMENT AND THE ASSIGNMENT IN ACCORDANCE WITH THE TERMS HEREOF.
SECTION 13.08.
RIGHT TO CURE DEFAULTS.
(A) UPON THE OCCURRENCE AND DURING THE
CONTINUANCE OF ANY EVENT OF DEFAULT, LENDER OR ITS AGENTS MAY, BUT WITHOUT ANY
OBLIGATION TO DO SO AND WITHOUT NOTICE TO OR DEMAND ON BORROWER AND WITHOUT
RELEASING BORROWER FROM ANY OBLIGATION HEREUNDER, MAKE OR DO THE SAME IN SUCH
MANNER AND TO SUCH EXTENT AS LENDER MAY DEEM NECESSARY TO PROTECT THE SECURITY
HEREOF.
LENDER AND ITS AGENTS ARE AUTHORIZED TO ENTER UPON THE PROPERTY OR ANY
PART THEREOF FOR SUCH PURPOSES, OR APPEAR IN, DEFEND, OR BRING ANY ACTION OR
PROCEEDINGS TO PROTECT LENDER'S INTEREST IN THE PROPERTY OR ANY PART THEREOF OR
TO FORECLOSE THIS SECURITY INSTRUMENT OR COLLECT THE