Common use of COLLATERAL SECURITY INSTRUMENTS Clause in Contracts

COLLATERAL SECURITY INSTRUMENTS. Grantor covenants and agrees that if Grantee at any time holds additional security for any obligations secured by this Deed To Secure Debt, it may enforce its rights and remedies with respect to the security, at its option, either before, concurrently or after a sale of the Property is made pursuant to the terms of this Deed To Secure Debt. Grantee may apply the proceeds of the additional security to the Secured Indebtedness without affecting or waiving any right to any other security, including the security under this Deed To Secure Debt, and without waiving any breach or default of Grantor under this Deed To Secure Debt or any other Loan Document.