PART OF ITS ASSETS WHICH RESULTS
IN THE ENTRY OF ANY ORDER FOR ANY SUCH RELIEF WHICH SHALL NOT HAVE BEEN VACATED,
DISCHARGED, OR STAYED OR BONDED PENDING APPEAL WITHIN NINETY (90) DAYS FROM THE
ENTRY THEREOF; OR (IV) BORROWER SHALL TAKE ANY ACTION IN FURTHERANCE OF, OR
INDICATING ITS CONSENT TO, APPROVAL OF, OR ACQUIESCENCE IN, ANY OF THE ACTS SET
FORTH IN CLAUSE (I), (II), OR (III) ABOVE;
(M)
ANY JUDGMENT FOR MONETARY DAMAGES IS ENTERED AGAINST BORROWER
WHICH, IN LENDER'S SOLE JUDGMENT, HAS A MATERIAL ADVERSE EFFECT OR IS NOT
COVERED TO LENDER'S SATISFACTION BY COLLECTIBLE INSURANCE PROCEEDS;
(N)
IF A TRANSFER, OTHER THAN A PERMITTED TRANSFER, OCCURS WITHOUT
LENDER'S PRIOR WRITTEN CONSENT OR IN VIOLATION OF THE TERMS OF LENDER'S CONSENT;
OR
6.2
RIGHTS AND REMEDIES.
UPON THE OCCURRENCE AND DURING THE
CONTINUANCE OF AN EVENT OF DEFAULT, UNLESS SUCH EVENT OF DEFAULT IS SUBSEQUENTLY
WAIVED IN WRITING BY LENDER, LENDER SHALL BE ENTITLED, AT THE OPTION OF LENDER,
TO EXERCISE ANY OR ALL OF THE FOLLOWING RIGHTS AND REMEDIES, CONSECUTIVELY OR
SIMULTANEOUSLY, AND IN ANY ORDER:
(A)
LENDER MAY DECLARE THE ENTIRE UNPAID PRINCIPAL BALANCE OF THE
LOAN AMOUNT TO BE IMMEDIATELY DUE AND PAYABLE, TOGETHER WITH ACCRUED AND UNPAID
INTEREST ON SUCH ADVANCES, WITHOUT NOTICE TO OR DEMAND ON BORROWER.
20
(B)
LENDER MAY EXERCISE ANY OR ALL REMEDIES SPECIFIED HEREIN AND IN
THE OTHER LOAN DOCUMENTS, INCLUDING (WITHOUT LIMITING THE GENERALITY OF THE
FOREGOING) THE RIGHT TO FORECLOSE THE DEED OF TRUST, AND/OR ANY OTHER REMEDIES
WHICH IT MAY HAVE THEREFOR AT LAW, IN EQUITY OR UNDER STATUTE.
(C)
LENDER MAY CURE THE EVENT OF DEFAULT ON BEHALF OF BORROWER,
AND, IN DOING SO, MAY ENTER UPON THE PROPERTY, AND MAY EXPEND SUCH SUMS AS IT
MAY DEEM DESIRABLE, INCLUDING ATTORNEYS' FEES, EVEN THOUGH CAUSING THE LOAN TO
EXCEED THE FACE AMOUNT OF THE NOTE, SHALL BEAR INTEREST AT THE DEFAULT RATE AND
SHALL BE PAYABLE BY BORROWER ON DEMAND.
VII.
RESERVED
VIII.
MISCELLANEOUS
8.1
BINDING EFFECT; WAIVERS; CUMULATIVE RIGHTS AND REMEDIES.
THE
PROVISIONS OF THIS AGREEMENT SHALL INURE TO THE BENEFIT OF AND BE BINDING UPON
THE PARTIES HERETO AND THEIR RESPECTIVE HEIRS, EXECUTORS, ADMINISTRATORS,
PERSONAL REPRESENTATIVES, LEGAL REPRESENTATIVES, SUCCESSORS AND ASSIGNS;
PROVIDED, HOWEVER, THAT NEITHER THIS AGREEMENT NOR THE PROCEEDS OF THE LOAN MAY
BE ASSIGNED BY BORROWER VOLUNTARILY, BY OPERATION OF LAW OR OTHERWISE, WITHOUT
THE PRIOR WRITTEN CONSENT OF LENDER, IN LENDER'S SOLE DISCRETION.
NO DELAY ON
THE PART OF LENDER IN EXERCISING ANY RIGHT, REMEDY, POWER OR PRIVILEGE HEREUNDER
SHALL OPERATE AS A WAIVER THEREOF, NOR SHALL ANY SINGLE OR PARTIAL EXERCISE OF
ANY RIGHT, REMEDY, POWER OR PRIVILEGE HEREUNDER CONSTITUTE SUCH A WAIVER OR
EXHAUST THE SAME, ALL OF WHICH SHALL BE CONTINUING.
THE RIGHTS AND REMEDIES OF
LENDER SPECIFIED IN THIS AGREEMENT SHALL BE IN ADDITION TO, AND NOT EXCLUSIVE
OF, ANY OTHER RIGHTS AND REMEDIES WHICH LENDER WOULD OTHERWISE HAVE AT LAW, IN
EQUITY OR BY STATUTE, AND ALL SUCH RIGHTS AND REMEDIES, TOGETHER