DEAL WITH ALL AND EVERY
PART OF THE PROPERTY AND CONDUCT THE BUSINESS
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THEREAT; (II) COMPLETE ANY CONSTRUCTION ON THE PROPERTY IN SUCH MANNER AND FORM
AS MORTGAGEE DEEMS ADVISABLE; (III) MAKE ALTERATIONS, ADDITIONS, RENEWALS
REPLACEMENTS AND IMPROVEMENTS TO OR ON THE PROPERTY; (IV) EXERCISE ALL RIGHTS
AND POWERS OF MORTGAGOR WITH RESPECT TO THE PROPERTY, WHETHER IN THE NAME OF
MORTGAGOR OR OTHERWISE, INCLUDING, WITHOUT LIMITATION, THE RIGHT TO MAKE,
CANCEL, ENFORCE OR MODIFY LEASES, OBTAIN AND EVICT TENANTS, AND DEMAND, SUE FOR,
COLLECT AND RECEIVE ALL RENTS OF THE PROPERTY AND EVERY PART THEREOF;
(V) REQUIRE MORTGAGOR TO PAY MONTHLY IN ADVANCE TO MORTGAGEE, OR ANY RECEIVER
APPOINTED TO COLLECT THE RENTS, THE FAIR AND REASONABLE RENTAL VALUE FOR THE USE
AND OCCUPATION OF SUCH PART OF THE PROPERTY AS MAY BE OCCUPIED BY MORTGAGOR;
(VI) REQUIRE MORTGAGOR TO VACATE AND SURRENDER POSSESSION OF THE PROPERTY TO
MORTGAGEE OR TO SUCH RECEIVER AND, IN DEFAULT THEREOF, MORTGAGOR MAY BE EVICTED
BY SUMMARY PROCEEDINGS OR OTHERWISE; AND (VII) APPLY THE RECEIPTS FROM THE
PROPERTY TO THE PAYMENT AND PERFORMANCE OF THE OBLIGATIONS (INCLUDING, WITHOUT
LIMITATION, THE INDEBTEDNESS), IN SUCH ORDER, PRIORITY AND PROPORTIONS AS
MORTGAGEE SHALL DEEM APPROPRIATE IN ITS SOLE DISCRETION AFTER DEDUCTING
THEREFROM ALL EXPENSES (INCLUDING REASONABLE ATTORNEYS' FEES) ACTUALLY INCURRED
IN CONNECTION WITH THE AFORESAID OPERATIONS AND ALL AMOUNTS NECESSARY TO PAY THE
IMPOSITIONS, OTHER CHARGES, INSURANCE AND OTHER EXPENSES IN CONNECTION WITH THE
PROPERTY, AS WELL AS JUST AND REASONABLE COMPENSATION FOR THE SERVICES OF
MORTGAGEE, ITS COUNSEL, AGENTS AND EMPLOYEES; PROVIDED, THAT SUCH LICENSE SHALL
BE REINSTATED UPON THE CURE OF SUCH EVENT OF DEFAULT;
(J)
EXERCISE ANY AND ALL RIGHTS AND REMEDIES GRANTED TO A SECURED PARTY UPON
DEFAULT UNDER THE UNIFORM COMMERCIAL CODE, INCLUDING, WITHOUT LIMITING THE
GENERALITY OF THE FOREGOING: (I) THE RIGHT TO TAKE POSSESSION OF THE FIXTURES,
THE EQUIPMENT AND THE PERSONAL PROPERTY, OR ANY PART THEREOF, AND TO TAKE SUCH
OTHER MEASURES AS MORTGAGEE MAY DEEM NECESSARY FOR THE CARE, PROTECTION AND
PRESERVATION OF THE FIXTURES, THE EQUIPMENT AND THE PERSONAL PROPERTY, AND
(II) REQUEST MORTGAGOR AT ITS EXPENSE TO ASSEMBLE THE FIXTURES, THE EQUIPMENT
AND THE PERSONAL PROPERTY AND MAKE IT AVAILABLE TO MORTGAGEE AT A CONVENIENT
PLACE REASONABLY ACCEPTABLE TO MORTGAGEE.
ANY NOTICE OF SALE, DISPOSITION OR
OTHER INTENDED ACTION BY MORTGAGEE WITH RESPECT TO THE FIXTURES, THE EQUIPMENT
AND/OR THE PERSONAL PROPERTY SENT TO MORTGAGOR IN ACCORDANCE WITH THE PROVISIONS
HEREOF AT LEAST TEN (10) DAYS PRIOR TO SUCH ACTION, SHALL CONSTITUTE
COMMERCIALLY REASONABLE NOTICE TO MORTGAGOR;
(K)
APPLY ANY SUMS THEN DEPOSITED OR HELD IN ESCROW OR OTHERWISE BY OR ON
BEHALF OF MORTGAGEE IN ACCORDANCE WITH THE TERMS OF THE LOAN AGREEMENT, THIS
MORTGAGE OR ANY OTHER LOAN DOCUMENT TO THE PAYMENT OF THE FOLLOWING ITEMS IN ANY
ORDER IN ITS UNCONTROLLED DISCRETION:
(I)
IMPOSITIONS
AND OTHER CHARGES;
(II)
INSURANCE
PREMIUMS;
(III)
INTEREST ON
THE UNPAID PRINCIPAL BALANCE OF THE NOTE;
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(IV)
AMORTIZATION
OF THE UNPAID PRINCIPAL BALANCE OF