Entering into Possession Sample Clauses

Entering into Possession. Upon every such entering and taking of possession, Beneficiary or the Trustee, as applicable, may hold, store, use, operate, manage, control, and maintain the Property and conduct the business thereof, which right shall include, without limitation, the right to (1) make all necessary and proper repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase and otherwise acquire additional fixtures, personalty, and other property as may be necessary to preserve, maintain or restore the value thereof to the condition required herein or in any other Loan Document; (2) insure the Property or keep the Property insured; (3) manage and operate the Property and exercise all the rights and powers of the Grantor, in its name or otherwise, with respect to the Property; and (4) enter into any agreements with respect to the exercise by others of any of the powers herein granted to Beneficiary or the Trustee, all as Beneficiary or the Trustee may from time to time determine to be necessary or desirable. Beneficiary or the Trustee also may collect and receive all of the earnings, income, rents, profits, issues and revenues of the Property or any part thereof, including those past due as well as those accruing thereafter; provided, however, that any amount so received by Beneficiary or the Trustee shall be applied as provided in Section 3.12 hereof. Beneficiary or the Trustee shall not be liable for or by reason of any such entry, taking of possession or removal, or holding, operation or management, except for liability arising out of the gross negligence or willful misconduct of the Beneficiary, the Trustee, or the agents, officers, directors or employees of Beneficiary or the Trustee. All sums expended by Beneficiary or the Trustee pursuant to this Section 3.4.2, including any such amount in excess of the principal amount of the Mortgage Note, shall be deemed to have been advanced to Grantor by the Beneficiary, shall be secured by this Deed of Trust and shall be paid by Grantor to Beneficiary upon demand therefor and, if not so paid within ten (10) days after written demand, shall thereafter bear interest at the Default Interest Rate.