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<br />(c) Upon any sale of the Grantor’s interest in any or all of the Property, whether by
<br />other foreclosure or judicial proceedings, the proceeds of such sale, together with any other sum then held
<br />as security hereunder or due under any of the provisions hereof as part of the Property (after paying all
<br />expenses of sale, including reasonable attorneys’ fees, and all taxes, assessments or impositions in
<br />connection with the Property which the Beneficiary deems it advisable or expedient to pay and all sums
<br />advanced, with interest thereon, as herein provided shall be applied) to the payment of the Secured
<br />Obligations then due and owing under the Funding Loan Documents and secured hereby and interest
<br />thereon to the date of payment and prepayment fees, if any, paying over the surplus, if any, less the
<br />expense, if any, of obtaining possession, to the Grantor or any person entitled thereto upon the surrender
<br />and delivery to the purchaser of possession of the Property.
<br />Section 3.05. Appointment of Receiver. The Beneficiary, acting at the written direction of the
<br />Controlling Person, may apply for the appointment of a receiver of the Premises and/or the Rents, without
<br />notice except as required by law, and shall be entitled to the appointment of the receiver as a matter of
<br />right, without consideration of the value of the Premises, the solvency of any person liable for the
<br />payment of the Secured Obligations, or the effect of the receivership on the operation of the Premises or
<br />the Grantor’s business thereon.
<br />Section 3.06. Application of Funds After Default. Except as otherwise herein provided or
<br />provided in the other Funding Loan Documents, upon the occurrence of an Event of Default hereunder,
<br />the Beneficiary, acting at the written direction of the Controlling Person, may, at any time without notice,
<br />apply any or all sums or amounts received and held by the Beneficiary (other than the secur ity deposits
<br />from tenant leases) to pay insurance premiums, taxes, assessments and other impositions in connection
<br />with the Property, or apply amounts received as rents or income of the Property, or as insurance or
<br />condemnation proceeds, and all other sums or amounts received by the Beneficiary from or on account of
<br />the Grantor or the Property, or otherwise, to any of the Secured Obligations then due and payable, in such
<br />manner and order as the Beneficiary, acting at the written direction of the Controlling Person, may elect,
<br />notwithstanding that said indebtedness or the performance of said obligation may not yet be due. The
<br />receipt, use or application of any such sum or amount shall not be construed (i) to affect the maturity of
<br />any Secured Obligations or any of the rights or powers of the Beneficiary hereunder or under the terms of
<br />the Funding Loan Documents; or (ii) any of the obligations of the Grantor or any guarantor hereunder or
<br />under the Funding Loan Documents; or (iii) to cure or waive any default or notice of default hereunder or
<br />under any of the Funding Loan Documents; or (iv) to invalidate any act of the Beneficiary.
<br />Section 3.07. Costs of Enforcement. If any Event of Default occurs, the Beneficiary and the
<br />Controlling Person may employ an attorney or attorneys to protect their respective rights hereunder. The
<br />Grantor agrees to pay to the Beneficiary or the Controlling Person (as applicable), on demand, the fees
<br />and expenses of such attorneys and all other costs of enforcing the obligations secured hereby, including
<br />recording fees, receivers’ fees and expenses, and all other expenses, of whatever kind or nature, incurred
<br />by the Beneficiary, in connection with the enforcement of the Secured Obligations, whether or not such
<br />enforcement includes the filing of a lawsuit. Until paid, such sums shall be secured hereby and shall bear
<br />interest, from date of expenditure, at the Default Rate.
<br />Section 3.08. Remedies Not Exclusive. The Beneficiary shall be entitled to enforce payment
<br />and performance of any Secured Obligations and to exercise all rights and powers under this Mortgage or
<br />under any Funding Loan Documents or other agreement or any law now or hereafter in force,
<br />notwithstanding some or all of the Secured Obligations may now or hereafter be otherwise secured,
<br />whether by guaranty, mortgage, deed of trust, deed to secure debt, pledge, lien, assignment or otherwise.
<br />Neither the acceptance of this Mortgage nor its enforcement, whether by court action or pursuant to the
<br />power of sale or other powers herein contained, shall prejudice or in any manner affect the Beneficiary’s
<br />rights to realize upon or enforce any other security now or hereafter held by the Beneficiary, it being
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