THE EVENT
BENEFICIARY SHALL TAKE CHARGE AND ENTER AS HEREINBEFORE PROVIDED.
3.4
REMEDIES CUMULATIVE, CONCURRENT AND NONEXCLUSIVE.
BENEFICIARY
SHALL HAVE ALL
22
RIGHTS, REMEDIES AND RECOURSES GRANTED IN THE CREDIT DOCUMENTS AND AVAILABLE AT
LAW OR EQUITY (INCLUDING SPECIFICALLY THOSE GRANTED BY THE UNIFORM COMMERCIAL
CODE IN EFFECT AND APPLICABLE TO THE MORTGAGED PROPERTY, THE LEASES, OR ANY
PORTION THEREOF); AND SAME (A) SHALL BE CUMULATIVE AND CONCURRENT, (B) MAY BE
PURSUED SEPARATELY, SUCCESSIVELY OR CONCURRENTLY AGAINST GRANTOR, OR OTHERS
OBLIGATED UNDER THE CREDIT DOCUMENTS, OR AGAINST THE MORTGAGED PROPERTY, OR
AGAINST ANY ONE OR MORE OF THEM AT THE SOLE DISCRETION OF BENEFICIARY, (C) MAY
BE EXERCISED AS OFTEN AS OCCASION THEREFOR SHALL ARISE, IT BEING AGREED BY
GRANTOR THAT THE EXERCISE OR FAILURE TO EXERCISE ANY OF SAME SHALL IN NO EVENT
BE CONSTRUED AS A WAIVER OR RELEASE THEREOF OR OF ANY OTHER RIGHT, REMEDY OR
RECOURSE, AND (D) ARE INTENDED TO BE, AND SHALL BE, NONEXCLUSIVE.
3.5
NO CONDITIONS PRECEDENT TO EXERCISE OF REMEDIES.
NEITHER GRANTOR
NOR ANY OTHER PERSON OR ENTITY HEREAFTER OBLIGATED FOR PAYMENT OF ALL OR ANY
PART OF, OR FULFILLMENT OF ALL OR ANY OF, THE OBLIGATIONS, SHALL BE RELIEVED OF
SUCH OBLIGATION BY REASON OF (A) THE FAILURE OF BENEFICIARY TO COMPLY WITH ANY
REQUEST OF GRANTOR OR OF ANY OTHER PERSON OR ENTITY SO OBLIGATED, OR THE FAILURE
OF BENEFICIARY OR ANY OTHER PERSON OR ENTITY TO FORECLOSE THE DEED OF TRUST OR
TO ENFORCE ANY PROVISIONS OF THE OTHER CREDIT DOCUMENTS, (B) THE RELEASE,
REGARDLESS OF CONSIDERATION, OF THE MORTGAGED PROPERTY OR THE ADDITION OF ANY
OTHER PROPERTY TO THE MORTGAGED PROPERTY, (C) ANY AGREEMENT OR STIPULATION
BETWEEN ANY SUBSEQUENT OWNER OF THE MORTGAGED PROPERTY AND BENEFICIARY
EXTENDING, RENEWING, REARRANGING OR IN ANY OTHER WAY MODIFYING THE TERMS OF THE
CREDIT DOCUMENTS WITHOUT FIRST HAVING OBTAINED THE CONSENT OF, GIVEN NOTICE TO
OR PAID ANY CONSIDERATION TO GRANTOR OR SUCH OTHER PERSON OR ENTITY, AND IN SUCH
EVENT, GRANTOR AND ALL SUCH OTHER PERSONS AND ENTITIES SHALL CONTINUE TO BE
LIABLE TO MAKE PAYMENT ACCORDING TO THE TERMS OF ANY SUCH EXTENSION OR
MODIFICATION AGREEMENT UNLESS EXPRESSLY RELEASED AND DISCHARGED, IN WRITING, BY
BENEFICIARY, OR (D) BY ANY OTHER ACT OR OCCURRENCE, SAVE AND EXCEPT THE COMPLETE
PAYMENT AND THE COMPLETE FULFILLMENT OF ALL OF THE OBLIGATIONS.
3.6
RELEASE OF AND RESORT TO COLLATERAL.
BENEFICIARY MAY RELEASE,
REGARDLESS OF CONSIDERATION, ANY PART OF THE MORTGAGED PROPERTY OR OTHER
COLLATERAL FOR THE OBLIGATIONS WITHOUT IN ANY WAY IMPAIRING, AFFECTING,
SUBORDINATING OR RELEASING THE CONVEYANCE, LIEN OR SECURITY INTERESTS CREATED IN
OR EVIDENCED BY THE CREDIT DOCUMENTS OR THE DEED OF TRUST OR THEIR STATURE AS A
FIRST AND PRIOR SECURITY DEED, LIEN OR SECURITY INTEREST IN AND TO THE MORTGAGED
PROPERTY OR THE OTHER COLLATERAL GRANTED UNDER THE CREDIT DOCUMENTS. FOR PAYMENT
OF THE OBLIGATIONS, BENEFICIARY MAY RESORT TO ANY SECURITY THEREFOR HELD BY
BENEFICIARY IN SUCH ORDER AND MANNER AS BENEFICIARY MAY ELECT.
3.7
WAIVER OF APPRAISEMENT, VALUATION,