THE PROPERTY
(INCLUDING SAID FIXTURES) IS SITUATED. AS SUCH, THIS MORTGAGE COVERS ALL ITEMS
OF THE COLLATERAL THAT ARE OR ARE TO BECOME FIXTURES. INFORMATION CONCERNING THE
SECURITY INTEREST HEREIN GRANTED MAY BE OBTAINED FROM THE PARTIES AT THE
ADDRESSES OF THE PARTIES SET FORTH IN THE FIRST PARAGRAPH OF THIS MORTGAGE. IF
AN EVENT OF DEFAULT SHALL OCCUR, LENDER, IN ADDITION TO ANY OTHER RIGHTS AND
REMEDIES WHICH IT MAY HAVE, SHALL HAVE AND MAY EXERCISE IMMEDIATELY AND WITHOUT
DEMAND, ANY AND ALL RIGHTS AND REMEDIES GRANTED TO A SECURED PARTY UPON DEFAULT
UNDER THE UCC, INCLUDING, WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE
RIGHT TO TAKE POSSESSION OF THE COLLATERAL OR ANY PART THEREOF, AND TO TAKE SUCH
OTHER MEASURES AS LENDER MAY DEEM NECESSARY FOR THE CARE, PROTECTION AND
PRESERVATION OF THE COLLATERAL. UPON REQUEST OR DEMAND OF LENDER, BORROWER SHALL
AT ITS EXPENSE ASSEMBLE THE COLLATERAL AND MAKE IT AVAILABLE TO LENDER AT A
CONVENIENT PLACE ACCEPTABLE TO LENDER. BORROWER SHALL PAY TO LENDER ON DEMAND
ANY AND ALL EXPENSES, INCLUDING REASONABLE ATTORNEYS' FEES AND DISBURSEMENTS,
INCURRED OR PAID BY LENDER IN PROTECTING ITS INTEREST IN THE COLLATERAL AND IN
ENFORCING ITS RIGHTS HEREUNDER WITH RESPECT TO THE COLLATERAL. ANY NOTICE OF
SALE, DISPOSITION OR OTHER INTENDED ACTION BY LENDER WITH RESPECT TO THE
COLLATERAL, SENT TO BORROWER IN ACCORDANCE WITH THE PROVISIONS HEREOF AT LEAST
TEN (10) DAYS PRIOR TO SUCH ACTION, SHALL CONSTITUTE COMMERCIALLY REASONABLE
NOTICE TO BORROWER. THE PROCEEDS OF ANY DISPOSITION OF THE COLLATERAL, OR ANY
PART THEREOF, MAY BE APPLIED BY LENDER TO THE PAYMENT OF THE DEBT IN SUCH
PRIORITY AND PROPORTIONS AS LENDER IN ITS SOLE DISCRETION SHALL DEEM PROPER. IN
10
THE EVENT OF ANY CHANGE IN NAME, IDENTITY OR STRUCTURE OF BORROWER, BORROWER
SHALL NOTIFY LENDER THEREOF AND PROMPTLY AFTER REQUEST SHALL EXECUTE, FILE AND
RECORD SUCH UCC FORMS AS ARE NECESSARY TO MAINTAIN THE PRIORITY OF LENDER'S LIEN
UPON AND SECURITY INTEREST IN THE COLLATERAL, AND SHALL PAY ALL EXPENSES AND
FEES IN CONNECTION WITH THE FILING AND RECORDING THEREOF. IF LENDER SHALL
REQUIRE THE FILING OR RECORDING OF ADDITIONAL UCC FORMS OR CONTINUATION
STATEMENTS, BORROWER SHALL, PROMPTLY AFTER REQUEST, EXECUTE, FILE AND RECORD
SUCH UCC FORMS OR CONTINUATION STATEMENTS AS LENDER SHALL DEEM NECESSARY, AND
SHALL PAY ALL EXPENSES AND FEES IN CONNECTION WITH THE FILING AND RECORDING
THEREOF, IT BEING UNDERSTOOD AND AGREED, HOWEVER, THAT NO SUCH ADDITIONAL
DOCUMENTS SHALL INCREASE BORROWER'S OBLIGATIONS UNDER THE LOAN DOCUMENTS.
BORROWER HEREBY IRREVOCABLY APPOINTS LENDER AS ITS ATTORNEY-IN-FACT, COUPLED
WITH AN INTEREST, TO FILE WITH THE APPROPRIATE PUBLIC OFFICE ON ITS BEHALF ANY
FINANCING OR OTHER STATEMENTS (BE THEY UNSIGNED OR SIGNED ONLY BY LENDER, AS
SECURED PARTY) IN CONNECTION WITH THE COLLATERAL COVERED BY THIS MORTGAGE.
13.
ACTIONS AND PROCEEDINGS. LENDER 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 BORROWER,