THE
ASSIGNMENTS, LIENS, AND SECURITY INTERESTS HEREOF SUBJECT TO THE TERMS OF THE
LOAN DOCUMENTS AND APPLICABLE NEVADA LAW.
IF A NONJUDICIAL FORECLOSURE
HEREUNDER IS COMMENCED BY BENEFICIARY, BENEFICIARY, AT ANY TIME BEFORE THE SALE,
MAY ABANDON THE SALE AND JUDICIALLY FORECLOSE AND/OR ENFORCE THE ASSIGNMENTS,
LIENS AND SECURITY INTERESTS HEREOF SUBJECT TO THE TERMS OF THE LOAN DOCUMENTS
AND APPLICABLE NEVADA LAW.
IF BENEFICIARY SHOULD INSTITUTE A SUIT FOR JUDICIAL
FORECLOSURE OR ENFORCEMENT OF THE ASSIGNMENTS, LIENS, AND SECURITY INTERESTS
HEREOF, IT MAY, TO THE EXTENT PERMITTED BY APPLICABLE LAW, AT ANY TIME BEFORE
THE ENTRY OF A FINAL JUDGMENT IN SAID SUIT, DISMISS THE SAME, AND SELL THE
PROPERTY, OR ANY PART THEREOF, IN ACCORDANCE WITH THE POWER OF SALE PROVISIONS
OF THIS SECURITY INSTRUMENT.
TO THE EXTENT APPLICABLE, WITH RESPECT TO
FIXTURES, BENEFICIARY OR TRUSTEE MAY ELECT TO TREAT SAME AS EITHER REAL PROPERTY
OR PERSONAL PROPERTY AND PROCEED TO EXERCISE SUCH RIGHTS AND REMEDIES APPLICABLE
TO THE CATEGORIZATION SO CHOSEN.
BENEFICIARY MAY PROCEED AGAINST THE ITEMS OF
REAL PROPERTY AND ANY ITEMS OF COLLATERAL SEPARATELY OR TOGETHER IN ANY ORDER
WHATSOEVER, WITHOUT IN ANY WAY AFFECTING OR WAIVING BENEFICIARY'S RIGHTS AND
REMEDIES UNDER THE UCC, THIS SECURITY INSTRUMENT, THE NOTES AND THE OTHER LOAN
DOCUMENTS.
TRUSTOR ACKNOWLEDGES AND AGREES THAT BENEFICIARY'S RIGHTS AND
REMEDIES UNDER THIS SECURITY INSTRUMENT, THE NOTES, AND THE OTHER LOAN DOCUMENTS
SHALL BE CUMULATIVE AND SHALL BE IN ADDITION TO EVERY OTHER RIGHT AND REMEDY NOW
OR HEREAFTER EXISTING AT LAW, IN EQUITY, BY STATUTE OR BY AGREEMENT OF THE
PARTIES.
SECTION 7.13.
LIMITATION ON FORECLOSURE.
BENEFICIARY AND TRUSTEE
ACKNOWLEDGE AND UNDERSTAND THAT (I) THE PRIOR APPROVAL OF THE GAMING AUTHORITIES
OF THE STATE OF NEVADA MAY BE REQUIRED PURSUANT TO APPLICABLE LAW FOR THE
EXERCISE, OPERATION AND EFFECTIVENESS OF CERTAIN REMEDIES HEREUNDER OR UNDER ANY
OTHER LOAN DOCUMENT, OR THE TAKING OF CERTAIN OTHER ACTIONS THAT MAY BE TAKEN BY
BENEFICIARY OR TRUSTEE HEREUNDER OR UNDER ANY OTHER LOAN DOCUMENT, INCLUDING
WITHOUT LIMITATION THE DISPOSITION OF COLLATERAL CONSISTING OF GAMING EQUIPMENT
AND (II) AS A CONDITION OF SUCH APPROVAL, THE BENEFICIARY OR TRUSTEE MAY BE
SUBJECT TO BEING CALLED FORWARD FOR LICENSING OR A FINDING OF SUITABILITY.
ARTICLE VIII.
INDEMNIFICATION
SECTION 8.1.
GENERAL INDEMNIFICATION.
TRUSTOR SHALL, AT ITS SOLE
COST AND EXPENSE, PROTECT, DEFEND, INDEMNIFY, RELEASE AND HOLD HARMLESS THE
INDEMNIFIED PARTIES (HEREINAFTER DEFINED) FROM AND AGAINST ANY AND ALL CLAIMS,
SUITS, LIABILITIES (INCLUDING, WITHOUT LIMITATION, STRICT LIABILITIES), ACTIONS,
PROCEEDINGS, OBLIGATIONS, DEBTS, DAMAGES, LOSSES, COSTS, EXPENSES, DIMINUTIONS
IN VALUE, FINES, PENALTIES, CHARGES, FEES, EXPENSES, JUDGMENTS, AWARDS, AMOUNTS
PAID IN SETTLEMENT, PUNITIVE DAMAGES, FORESEEABLE AND UNFORESEEABLE
CONSEQUENTIAL DAMAGES, OF WHATEVER KIND OR NATURE (INCLUDING, BUT NOT LIMITED,
TO REASONABLE ATTORNEYS' FEES AND OTHER COSTS OF DEFENSE) (COLLECTIVELY, THE
"LOSSES") IMPOSED UPON OR INCURRED BY OR ASSERTED AGAINST ANY INDEMNIFIED
PARTIES AND DIRECTLY OR INDIRECTLY ARISING OUT OF OR IN ANY WAY RELATING TO ANY
ONE OR
20
MORE OF THE FOLLOWING: (A) OWNERSHIP OF THIS SECURITY INSTRUMENT, THE PROPERTY
OR ANY