Common use of Foreclosure Clause in Contracts

Foreclosure. Beneficiary may institute any one or more actions of foreclosure against all or any part of the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the Securities. Without limiting the foregoing, Beneficiary may cause the foreclosure of this Deed of Trust and exercise its rights as a secured party for all or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust for the balance not then due and payable. In case of any sale of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary in its sole discretion may elect. Grantor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of Trust, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Property.

Foreclosure. Beneficiary may institute any one or more actions of foreclosure against all or any part of the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the SecuritiesTranche A Loans. Without limiting the foregoing, Beneficiary may cause the foreclosure of this Deed of Trust and exercise its rights as a secured party for all or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust for the balance not then due and payable. In case of any sale of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary in its sole discretion may elect. Grantor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of Trust, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Property.

Foreclosure. Beneficiary Mortgagee may institute any one or more actions of mortgage foreclosure against all or any part of the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust Mortgage and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the SecuritiesDefault Rate. Without limiting the foregoing, Beneficiary Mortgagee may cause the foreclosure of foreclose this Deed of Trust Mortgage and exercise its rights as a secured party for all or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust Mortgage for the balance not then due and payable. In case of any sale of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary Mortgagee in its sole discretion may elect. GrantorMortgagor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary Mortgagee shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of TrustMortgage, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and GrantorMortgagor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor Mortgagor as a defense in any proceeding instituted by Beneficiary Mortgagee to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Property.

Foreclosure. Beneficiary Mortgagee may institute any one or more actions of mortgage foreclosure against all or any part of the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust Mortgage and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the Securities. Without limiting the foregoing, Beneficiary Mortgagee may cause the foreclosure of foreclose this Deed of Trust Mortgage and exercise its rights as a secured party for all or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust Mortgage for the balance not then due and payable. In case of any sale of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary Mortgagee in its sole discretion may elect. GrantorMortgagor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary Mortgagee shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of TrustMortgage, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and GrantorMortgagor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor Mortgagor as a defense in any proceeding instituted by Beneficiary Mortgagee to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Property.

Foreclosure. Beneficiary During the continuance of an Event of Default hereunder, Lender may institute any one or more actions of foreclosure against all or any part of an action to foreclose this Mortgage as to the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the Securities. Without limiting the foregoing, Beneficiary may cause the foreclosure of this Deed of Trust and exercise its rights as a secured party for all or any portion of the Liabilities which are then amount so declared due and payable, subject to the continuing lien of this Deed of Trust for the balance not then due and payable. In case of any sale of thereupon the Property by judicial proceedings(or any portion thereof) shall be sold according to law to satisfy and pay the same, the together with all costs, expenses and allowances thereof, including, without limitation, Reasonable Attorneys' Fees. The Property may be sold in one parcel parcel, several parcels or in such groups of parcels, manner or order as Beneficiary in its sole discretion may elect. Grantorand Lender shall be entitled to bid at the sale and, if Lender is the highest bidder for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder part or otherwise appertaining parts thereof, Lender shall be entitled to purchase the same. If, following the acceleration of the Note but prior to the Liabilities foreclosure of this Mortgage against the Property, Borrower shall tender to Lender payment of an amount sufficient to pay the entire secured indebtedness, such tender shall be deemed to be a voluntary prepayment under the Note and, consequently, Borrower shall also pay to Lender any Prepayment Premium (to the extent permitted by the Laws of the State) required under the Note to be paid in order to prepay principal and, if such principal payment is made during any period when prepayment is prohibited by this Mortgage or the Note, the applicable charge or Prepayment Premium (to the extent permitted by the Laws of the State) shall be the maximum Prepayment Premium provided for in the Note; provided, however, that in no event shall any amount payable under this Section or any other obligation Section relating to Prepayment Premiums or otherwise, when added to the interest otherwise payable on the Note and the other secured by this Deed of Trustindebtedness, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect exceed the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Propertymaximum interest permitted under applicable law.

Foreclosure. Beneficiary Mortgagee may institute any one or more actions of mortgage foreclosure against all or any part of the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust Mortgage and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the SecuritiesTranche A Loans. Without limiting the foregoing, Beneficiary Mortgagee may cause the foreclosure of foreclose this Deed of Trust Mortgage and exercise its rights as a secured party for all or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust Mortgage for the balance not then due and payable. In case of any sale of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary Mortgagee in its sole discretion may elect. GrantorMortgagor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary Mortgagee shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of TrustMortgage, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and GrantorMortgagor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor Mortgagor as a defense in any proceeding instituted by Beneficiary Mortgagee to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Property.

Foreclosure. If any Event of Default shall have occurred, Beneficiary may institute at any one time proceed, at law or more actions of foreclosure against all in equity or any part otherwise, to enforce the payment of the PropertyNote in accordance with the terms thereof and, if the Note has been declared due and payable: (a) to institute an action to foreclose its interest under the Lien of this Deed of Trust against the Trust Property by judicial foreclosure sale or strict foreclosure in one proceeding or against portions of the Trust Property in a series of separate proceedings, and to have the same sold under the judgment or decree of a court of competent jurisdiction or proceed to take any of such actions; (b) to take such other action at law, law or in equity or by contract otherwise for the enforcement of this Deed of Trust and realization the realization, upon obtaining a judgment for foreclosure, on the security or any other security herein or elsewhere provided for, in such manner and at such times as the law may allow, and may proceed therein to the extent permitted, and subject to the limitations imposed, by law to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance Debt, together with all other sums payable by Trustor in accordance with the provisions of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgmentsNote, or (b) the rate borne by the Securities. Without limiting the foregoing, Beneficiary may cause the foreclosure of this Deed of Trust and exercise its rights the other Loan Documents, and all sums which may have been advanced by Beneficiary for Taxes and Other Charges, water or sewer rents, charges or claims, payment on prior liens, insurance or repairs to the Trust Property, all costs of suit, together with interest thereon at such interest rate as a secured party for may be awarded in any judgment obtained by Beneficiary, as the case may be, from and after the date of any foreclosure sale until actual payment is made to Beneficiary of the full amount due Beneficiary, and attorneys' fees through and including all appellate levels; and/or (c) to sell, assign, transfer and deliver the whole or, from time to time, any part of the Trust Property, or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust for the balance not then due and payable. In case of any sale of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary in its sole discretion may elect. Grantor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or interest in any part thereof, at any private sale or at public auction permitted by law, with such demand, advertisement or notice as required by law, and on such other security hereunder terms as required or otherwise appertaining to the Liabilities or any other obligation secured permitted by this Deed of Trust, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Propertylaw.

Foreclosure. Beneficiary Mortgagee may institute any one or more actions of mortgage foreclosure against all or any part of the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust Mortgage and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the SecuritiesDefault Rate. Without limiting the foregoing, Beneficiary Mortgagee may cause the foreclosure of foreclose this Deed of Trust Mortgage and exercise its rights as a secured party for all or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust Mortgage for the balance not then due and payable. In case of any sale of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary Mortgagee in its sole discretion may elect. GrantorMortgagor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary Mortgagee shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of TrustMortgage, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereofmanner. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor Mortgagor as a defense in any proceeding instituted by Beneficiary Mortgagee to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Property.

Foreclosure. The Beneficiary may may, subject to applicable federal and state laws and regulations, institute any one or more actions an action of foreclosure against all or any part of the Propertyforeclosure, or take such other action as the law may allow, at lawlaw or in equity, equity or by contract for the enforcement of this Deed of Trust and realization on the security herein or elsewhere provided for, as the law may allowTrust, and may proceed therein thereon to final judgment and execution for of the entire unpaid balance amount secured hereby including costs of the Liabilities. The unpaid balance of any judgment shall bear suit, interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the Securities. Without limiting the foregoing, Beneficiary may cause the foreclosure of this Deed of Trust and exercise its rights as a secured party for all or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust for the balance not then due and payablereasonable attorneys' fees. In case of any sale of the Trust Property by virtue of judicial proceedings, the Trust Property may be sold in one parcel and as an entirety or in such parcels, manner or order as the Beneficiary in its sole discretion may elect. Grantor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of Trust, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a party defendant to a foreclosure proceeding shall and to foreclose its rights will not be asserted by the Grantor as a defense in any proceeding instituted by the Beneficiary to collect the Liabilities obligations secured hereby or any deficiency remaining unpaid after the foreclosure sale of the Trust Property. Costs and expenses incurred by the Beneficiary under this Section shall become part of the Secured Indebtedness secured hereby. Proceeds realized from a foreclosure of this Deed of Trust shall be applied in accord with the provisions of the Intercreditor Agreement and Section 4 of this Article 3 hereof and, in any event, in accord with the provisions of applicable law. (a) If Beneficiary elects to have foreclosure by exercise of the power of sale granted herein: (i) Upon such election, Beneficiary or Trustee shall give such notice of an Event of Default and election to sell as may then be required by applicable law, and shall advertise the sale in the manner prescribed by applicable law. Upon the obtaining of any court approvals, expiration of such time following the advertisement of sale, and the giving of such notice of sale as may then be required by applicable law, and without the necessity of any demand on Grantor, Trustee, at the time and place specified in the notice and advertisement of sale, shall sell all or any portion of the Trust Property, upon such terms and conditions as shall be required under applicable law. Trustee may, and upon request of Beneficiary shall, from time to time postpone any sale by public announcement at the time and place noticed therefor. Any person, including Grantor, Trustee or Beneficiary, may purchase at any sale. (ii) Upon any sale, Trustee shall execute and deliver to the purchaser a deed conveying the Trust Property sold, with special warranty, and the purchaser shall be let into immediate possession. If Grantor, or its heir, executor, administrator, successor or assign, occupies the Trust Property at the time of its sale: (x) each and all shall immediately become the tenant of the purchaser, under a tenancy from day to day, terminable at the will of either tenant or landlord, at a reasonable rent per day based upon the value of the Trust Property, such rent to be due daily to the purchaser; (y) an action in unlawful detainer shall lie if the tenant holds over after a demand in writing for possession of the Trust Property; and (z) this agreement and the Trustee's deed shall constitute the agreement under which any such tenant's possession arose and continued. The recitals in any deed delivered by Trustee of facts, such as the occurrence of an Event of Default, the giving of notice of default and notice and notice of sale, demand that such sale be made, postponement of sale, terms of sale, sale, purchase, payment of purchase money and other facts affecting the regularity or validity of such sale or disposition, shall be prima facie proof of the truth of such facts. (iii) Trustee is hereby irrevocably appointed the true and lawful attorney-in-fact of Grantor to make all necessary conveyances, assignments, transfers and deliveries of the Trust Property and rights so-sold and to execute all necessary instruments of conveyance, assignment and transfer. Trustee may substitute one or more Persons with like power. Grantor hereby ratifies and confirms all that Trustee or any substitute shall lawfully do by virtue-hereof. Nevertheless, upon request by Trustee or Beneficiary, Grantor shall ratify and confirm any sale by executing and delivering to Trustee or the purchaser all instruments requested by Trustee or Beneficiary. (b) Upon any sale made under this Deed of Trust, whether made under or by virtue of the power of sale herein granted, judicial proceedings or a judgment or decree of foreclosure and sale, Beneficiary may bid for and acquire the Trust Property by crediting the sales price (after deducting the costs and expenses of sale and any other sums which Trustee or Beneficiary is authorized to deduct) upon the indebtedness or other sums secured by this Deed of Trust. (c) Any sale made under this Deed of Trust, whether made under or by virtue of the power of sale herein granted, judicial proceedings or a judgment or decree of foreclosure and sale, shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Grantor in and to the Trust Property and rights so sold, and shall be a perpetual bar, both at law and in equity, against Grantor and all Persons who may at any time claim the same, or any part thereof, from, through or under Grantor. Grantor hereby expressly waives any right to direct the order in which the Trust Property shall be sold pursuant hereto. (d) To the fullest extent permitted by law, Grantor will not at any time insist upon, plead, or in any manner whatsoever claim, take or insist upon any benefit or advantage of any stay, extension or moratorium law; any law pertaining to the marshaling of assets or the administration of estates or decedents; any exemption from execution or sale (including, but not limited to, any exemption of homestead); any law providing for valuation or appraisal prior to any sale pursuant to this Deed of Trust, or any decree, judgment or order of any court of competent jurisdiction; any law allowing redemption of Trust Property sold; or any law, now or at any time hereafter in force, which may affect the covenants and terms or performance of this Deed of Trust; and Grantor (for itself and all who claim under it) hereby expressly waives all benefit or advantage of such laws, and covenants not to hinder, delay or impede the execution of any power herein granted or delegated to Trustee or Beneficiary, but to suffer and permit the execution of every power as though no such laws had been made or enacted. (e) Grantor hereby requests that a copy of any Notice of Default and a copy of any Notice of Sale under this Deed of Trust be mailed to Grantor at Grantor's address for Notices as set forth in Section 2 of Article IV.

Foreclosure. Beneficiary may institute any one or more actions of foreclosure against all or any part of the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) If any monthly payment due under any Home Loan is not paid when the statutory rate provided for judgments, or (b) the rate borne by the Securities. Without limiting the foregoing, Beneficiary may cause the foreclosure of this Deed of Trust and exercise its rights as a secured party for all or any portion of the Liabilities which are then same is due and payable, subject or if the Obligor fails to perform any other covenant or obligation under such Home Loan and such failure continues beyond any applicable grace period, the Servicer shall, in accordance with the standard of care specified in Section 4.01(a), take such action as it shall deem to be in the best interest of the Securityholders, including but not limited to proceeding against the Mortgaged Property securing such Home Loan, and any other actions that in the reasonable judgment of the Servicer will be likely to maximize the proceeds realizable therefrom under the circumstances. In the event that the Servicer determines not to proceed against the Mortgaged Property or Obligor, as applicable, on or before the Determination Date following such determination, the Servicer shall determine in good faith in accordance with customary servicing practices that all amounts which it expects to receive with respect to such Home Loan have been received. If the Servicer makes such a determination, it shall give notice to such effect to the continuing lien Issuer and the Indenture Trustee. (b) In accordance with the criteria for proceeding against the Mortgaged Property set forth in subsection (a) of this Deed Section 4.10, unless otherwise prohibited by applicable law or court or administrative order, the Servicer, on behalf of Trust for the balance not then due Issuer and payablethe Indenture Trustee, may, at any time, institute foreclosure proceedings to the extent permitted by law, exercise any power of sale to the extent permitted by law, obtain a deed in lieu of foreclosure, or otherwise acquire possession of or title to the related Mortgaged Property, by operation of law or otherwise. In case accordance with the criteria for proceeding against the Mortgaged Property set forth in subsection (a) of this Section 4.10, the Servicer shall institute foreclosure proceedings, repossess, exercise any power of sale to the extent permitted by law, obtain a deed in lieu of foreclosure or otherwise acquire possession of or title to any Property, by operation of law or otherwise, only in the event that in the Servicer's reasonable judgment such action is likely to result in a positive economic benefit to the Owner Trust by creating net liquidation proceeds (after reimbursement of all amounts owed with respect to such Home Loan to the Servicer). Prior to acquiring any Foreclosure Property, however, the Servicer shall cause a review to be performed, in accordance with Accepted Servicing Procedures, on the related Mortgaged Property by judicial proceedingsa company such as Equifax, Inc. or Toxicheck, and the scope of such review shall be limited to the review of public records and documents for indications that such Mortgaged Property may be sold in one parcel or in such parcelshas on it, manner or order as Beneficiary in its sole discretion may elect. Grantor, for itself and anyone claiming by, through or has under it, hereby agrees or is near hazardous or toxic material or waste. If such review reveals that Beneficiary shall in no mannerthe Mortgaged Property has on it, in law under it or in equity, be limited, except as herein provided, in the exercise of its rights in the Property is near hazardous or in toxic material or waste or reveals any other security hereunder or otherwise appertaining environmental problem, the Servicer shall provide a copy to the Liabilities or any other obligation secured by this Deed Indenture Trustee of Trust, whether by any statute, rule or precedent which may otherwise require said security the related report with an attached certification of a Responsible Officer that based on an analysis of all available information (including potential clean up costs and liability claims) at the time it is the best judgment of such Responsible Officer that such foreclosure shall increase Net Liquidation Proceeds to be marshalled in any manner the Owner Trust and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right the Owner Trust shall take title to or benefit thereofsuch Mortgaged Property. The failure Indenture Trustee shall promptly forward such report and certification to make the Noteholders. (c) The Indenture Trustee shall furnish the Servicer, within 5 days after request of the Servicer therefor, any tenant a defendant powers of attorney and other documents necessary and appropriate to a foreclosure proceeding carry out its duties hereunder, including any documents or powers of attorney necessary to foreclose any Mortgage and the Indenture Trustee shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect accountable for the Liabilities or any deficiency remaining unpaid after the foreclosure sale actions of the PropertyServicer under such powers of attorney or other documents and shall be indemnified by the Servicer with respect to such actions. The forms of any such powers or documents shall be appended to such requests.

Foreclosure. Beneficiary (a) Upon the occurrence of a default, Trustee is authorized and empowered and it shall be Trustee's special duty at the request of Agent to sell the Deed of Trust Mortgaged Properties, or any part thereof, as an entirety or in parcels as Agent may institute elect, at such place or places and otherwise in the manner and upon such notice as may be required by law or, in the absence of any such requirement, as Trustee may deem appropriate. If Trustee shall have given notice of sale hereunder, any successor or substitute Trustee thereafter appointed may complete the sale and the conveyance of the property pursuant thereto as if such notice had been given by the successor or substitute Trustee conducting the sale. (b) Upon the occurrence of a default (i) this Mortgage may be foreclosed as to the Other Mortgaged Properties, or any part thereof, in any manner permitted by applicable law, or (ii) the Agent may, to the extent permitted by applicable law, sell the Other Mortgaged Properties, or any part thereof, as an entirety or in parcels as Agent may elect, at such place or places and otherwise in the manner and upon such notice as may be required by law or, in the absence of any such requirement, as the Agent may deem appropriate (Mortgagor expressly granting to the Agent the power of sale). (c) Upon the occurrence of a default, Agent may exercise its rights of enforcement with respect to the Collateral under the Uniform Commercial Code or any other statute in force in any state to the extent the same is applicable law. Cumulative of the foregoing and the other provisions of this Section 4.4: (i) To the extent permitted by law, Agent may enter upon the Mortgaged Properties or otherwise upon Mortgagor's premises to take possession of, assemble and collect the Collateral or to render it unusable; and (ii) Agent may require Mortgagor to assemble the Collateral and make it available at a place Agent designates which is mutually convenient to allow Agent to take possession or dispose of the Collateral; and (iii) Written notice mailed to Mortgagor as provided herein at least five (5) days prior to the date of public sale of the Collateral or prior to the date after which private sale of the Collateral will be made shall constitute reasonable notice; and (iv) in the event of a foreclosure of the liens and/or security interests evidenced hereby, the Collateral, or any part thereof, and the Mortgaged Properties, or any part thereof, may, at the option of Agent, be sold, as a whole or in parts, together or separately (including, without limitation, where a portion of the Mortgaged Properties is sold, the Collateral related thereto may be sold in connection therewith); and (v) the expenses of sale provided for in clause FIRST of Section 4.7 shall include the reasonable expenses of retaking the Collateral, or any part thereof, holding the same and preparing the same for sale or other disposition; and (vi) should, under this subsection, the Collateral be disposed of other than by sale, any proceeds of such disposition shall be treated under Section 4.7 as if the same were sales proceeds. (d) To the extent permitted by applicable law, the sale hereunder of less than the whole of the Property shall not exhaust the powers of sale herein granted or the right to judicial foreclosure, and successive sale or sales may be made until the whole of the Property shall be sold, and, if the proceeds of such sale of less than the whole of the Property shall be less than the aggregate of the indebtedness secured hereby and the expense of conducting such sale, this Mortgage and the liens and security interests hereof shall remain in full force and effect as to the unsold portion of the Property just as though no sale had been made; provided, however, that Mortgagor shall never have any right to require the sale of less than the whole of the Property. In the event any sale hereunder is not completed or is defective in the opinion of Agent, such sale shall not exhaust the powers of sale hereunder or the right to judicial foreclosure, and Agent shall have the right to cause a subsequent sale or sales to be made. Any sale may be adjourned by announcement at the time and place appointed for such sale without further notice except as may be required by law. The Trustee or his successor or substitute, and the Agent acting under power of sale, may appoint or delegate any one or more actions persons as agent to perform any act or acts necessary or incident to any sale held by it (including, without limitation, the posting of foreclosure against notices and the conduct of sale), and such appointment need not be in writing or recorded, Any and all statements of fact or other recitals made in any part deed or deeds, or other instruments of transfer, given in connection with a sale as to nonpayment of the Propertysecured indebtedness or as to the occurrence of any default, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance all of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the Securities. Without limiting the foregoing, Beneficiary may cause the foreclosure of this Deed of Trust and exercise its rights as a secured party for all or any portion of the Liabilities which are then indebtedness having been declared to be due and payable, subject or as to the continuing lien request to sell, or as to notice of this Deed time, place and terms of Trust sale and the properties to be sold having been duly given, or, with respect to any sale by the Trustee, or any successor or substitute trustee, as to the refusal, failure or inability to act of Trustee or any substitute or successor trustee or the appointment of any substitute or successor trustee, or as to any other act or thing having been duly done, shall be taken as prima facie evidence of the truth of the facts so stated and recited. Notwithstanding any reference herein to the Notes or the Credit Agreement or any other Loan Document, all persons dealing with the Mortgaged Properties shall be entitled to rely on any document, or certificate, of the Agent as to the occurrence of an event, such as an Event of Default, and shall not be charged with or forced to review any provision of any other document to determine the accuracy thereof. With respect to any sale held in foreclosure of the liens and/or security interests covered hereby, it shall not be necessary for the balance not then due and payable. In case of Trustee, Agent, any sale public officer acting under execution or order of the Property by judicial proceedingscourt or any other party to have physically present or constructively in his/her or its possession, either at the time of or prior to such sale, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary in its sole discretion may elect. Grantor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of Trust, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit part thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Property.

Foreclosure. Beneficiary (i) Lender, with or without entry, personally or by its agents or attorneys, insofar as applicable, and in addition to any and every other remedy, may (i) sell to the extent permitted by law and pursuant to the power of sale granted herein, all and singular, the Property, and all estate, right, title and interest, claim and demand therein, and right of redemption thereof, at one or more sales, as an entirety or in parcels, and at such times and places as required or permitted by law and as are customary in the county in which the Property is located and upon such terms as Lender may fix and specify in the notice of sale to be given to Borrower (and on such other notice published or otherwise given as provided by law), or as may be required by law; (ii) institute proceedings for the complete or partial foreclosure of this Security Instrument under the provisions of the laws of the jurisdiction or jurisdictions in which the Property or any part thereof is located, or under any other applica- ble provision of law; or (iii) take all steps to protect and enforce the rights of Lender, whether by action, suit or proceeding in equity or at law (for the specific performance of any covenant, condition or agreement contained in this Security Instrument, or in aid of the execution of any power herein granted, or for any foreclosure hereunder, or for the enforcement of any other appropriate legal or equitable remedy), or otherwise, as Lender, being advised by counsel and its financial advisor, shall deem most advisable to protect and enforce any of their rights or duties hereunder. (ii) Lender may conduct any number of sales from time to time. The power of sale shall not be exhausted by any one or more actions of foreclosure against all or such sales as to any part of the PropertyProperty remaining unsold, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for but shall continue unimpaired until the entire unpaid balance of Property shall have been sold. (iii) Upon taking title to the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of Property (awhether by foreclosure, deed in lieu or otherwise) the statutory rate provided for judgments, or (b) the rate borne by the Securities. Without limiting the foregoing, Beneficiary may cause the foreclosure of this Deed of Trust and exercise its rights as a secured party for all Lender or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust for the balance not then due and payable. In case of any sale other purchaser or assignee of the Property by judicial proceedingsafter an Event of Default, Borrower shall assign and transfer all of its right, title and interest in and to the Property to Lender. Borrower hereby irrevocably appoints Lender as its attorney-in-fact to execute all documents and take all actions necessary to effectuate such assignment and transfer, provided that such power may only be sold in one parcel or in such parcels, manner or order as Beneficiary in its sole discretion may elect. Grantor, for itself exercised by Lender while an Event of Default exists and anyone claiming by, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of Trust, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Propertyis continuing.

Foreclosure. Beneficiary (a) Upon the occurrence and during the continuance of a default, the Holder may take such action, without notice or demand, as it deems advisable to protect and enforce its rights against Mortgagor and in and to the Property, including, but not limited to, the following actions, each of which may be pursued concurrently or otherwise, at such time and in such order as the Holder may determine, in its sole discretion, without impairing or otherwise affecting the other rights and remedies of the Holder: (i) institute proceedings for the complete foreclosure of this Mortgage in which case the Property or any part thereof may be sold for cash or upon credit in one or more actions of foreclosure against all portions, under executory process or any part of other legal process; or (ii) to the Property, or take such other action at extent permitted and pursuant to the procedures provided by applicable law, equity or by contract institute proceedings for the enforcement of this Deed of Trust and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the Securities. Without limiting the foregoing, Beneficiary may cause the partial foreclosure of this Deed of Trust and exercise its rights as a secured party Mortgage for all or any the portion of the Liabilities which are secured indebtedness then due and payable, subject to the continuing lien Lien of this Deed of Trust Mortgage for the balance of the secured indebtedness not then due and payable. In case due; or (iii) institute an action, suit or proceeding in equity for the specific performance of any covenant, condition or agreement contained in this Mortgage or the Transaction Documents; or (iv) recover judgment on the Secured Notes or the Guaranty either before, during or after any proceedings for the enforcement of this Mortgage; or (v) apply for the appointment of a trustee, receiver, keeper, liquidator or conservator of the Property, without regard for the adequacy of the security for the secured indebtedness and without regard for the solvency of Mortgagor or of any person, firm or other entity liable for the payment of the secured indebtedness; or (vi) pursue such other remedies as the Holder may have under applicable law. (b) Upon the occurrence and during the continuance of a default, Holder may exercise its rights of enforcement with respect to the Collateral under the Uniform Commercial Code or any other statute in force in any state to the extent the same is applicable law. Cumulative of the foregoing and the other provisions of this Section 4.4; (i) Holder may enter upon the Mortgaged Properties or otherwise upon Mortgagor's premises to take possession of, assemble and collect the Collateral or to render it unusable; and (ii) Holder may require Mortgagor to assemble the Collateral and make it available at a place Holder designates which is mutually convenient to allow Holder to take possession or dispose of the Collateral; and (iii) written notice mailed to Mortgagor as provided herein at least ten (10) days prior to the date of public sale of the Property by judicial proceedingsCollateral or prior to the date after which private sale of the Collateral will be made shall constitute reasonable notice; and (iv) in the event of a foreclosure of the liens and/or security interests evidenced hereby, the Property Collateral, or any part thereof, and the Mortgaged Properties, or any part thereof, may, at the option of Holder, be sold, as a whole or in parts, together or separately (including where a portion of the Mortgaged Properties is sold, the Collateral related thereto may be sold in one parcel connection therewith); and (v) the expenses of sale provided for in clause FIRST of Section 4.7 shall include the reasonable expenses of retaking the Collateral, or any part thereof, holding the same and preparing the same for sale or other disposition; and (vi) should, under this subsection, the Collateral be disposed of other than by sale, any proceeds of such disposition shall be treated under Section 4.7 as if the same were sales proceeds. (c) To the extent permitted by applicable law, the sale hereunder of less than the whole of the Property shall not exhaust the right to judicial foreclosure, and successive sale or sales may be made until the whole of the Property shall be sold, and, if the proceeds of such sale of less than the whole of the Property shall be less than the aggregate of the indebtedness secured hereby and the expense of conducting such sale, this Mortgage and the liens and security interests hereof shall remain in full force and effect as to the unsold portion of the Property just as though no sale had been made; provided, however, that Mortgagor shall never have any right to require the sale of less than the whole of the Property. Any sale may be adjourned by announcement at the time and place appointed for such parcelssale without further notice except as may be required by law. Any and all statements of fact or other recitals made in any deed or deeds, manner or other instruments of transfer, given in connection with a sale as to nonpayment of the secured indebtedness or as to the occurrence of any default, or as to all of the secured indebtedness having been declared to be due and payable, or as to the request to sell, or as to notice of time, place and terms of sale and the properties to be sold having been duly given, or as to any other act or thing having been duly done, shall be taken as prima facie evidence of the truth of the facts so stated and recited. Notwithstanding any reference herein to the Secured Notes or any other Transaction Document, all persons dealing with the Mortgaged Properties shall be entitled to rely on any document, or certificate, of Holder as to the occurrence of an event, such as an Event of Default, and shall not be charged with or forced to review any provision of any other document to determine the accuracy thereof. With respect to any sale held in foreclosure of the liens and/or security interests covered hereby, it shall not be necessary for the Holder, any public officer acting under execution or order as Beneficiary of the court or any other party to have physically present or constructively in his/her or its sole discretion may elect. Grantorpossession, for itself and anyone claiming byeither at the time of or prior to such sale, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of Trust, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit part thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Property.

Foreclosure. Beneficiary (i) Lender, with or without entry, personally or by its agents or attorneys, insofar as applicable, and in addition to any and every other remedy, may (i) sell to the extent permitted by law and pursuant to the power of sale granted herein, all and singular, the Property, and all estate, right, title and interest, claim and demand therein, and right of redemption thereof, at one or more sales, as an entirety or in parcels, and at such times and places as required or permitted by law and as are customary in the county in which the Property is located and upon such terms as Lender may fix and specify in the notice of sale to be given to Borrower (and on such other notice published or otherwise given as provided by law), or as may be required by law; (ii) institute proceedings for the complete or partial foreclosure of this Security Instrument under the provisions of the laws of the jurisdiction or jurisdictions in which the Property or any part thereof is located, or under any other applicable provision of law; or (iii) take all steps to protect and enforce the rights of Lender, whether by action, suit or proceeding in equity or at law (for the specific performance of any covenant, condition or agreement contained in this Security Instrument, or in aid of the execution of any power herein granted, or for any foreclosure hereunder, or for the enforcement of any other appropriate legal or equitable remedy), or otherwise, as Lender, being advised by counsel and its financial advisor, shall deem advisable to protect and enforce any of their rights or duties hereunder. (ii) Lender may conduct any number of sales from time to time. The power of sale shall not be exhausted by any one or more actions of foreclosure against all or such sales as to any part of the PropertyProperty remaining unsold, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for but shall continue unimpaired until the entire unpaid balance Property shall have been sold. (iii) Upon taking title to the Commercial Units and the Improvements (whether by foreclosure, deed in lieu or otherwise) by Lender or any other purchaser or assignee of the Liabilities. The unpaid balance Commercial Units and the Improvements after an Event of any judgment Default, Borrower shall bear assign and transfer all of its right, title and interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the Securities. Without limiting the foregoing, Beneficiary may cause the foreclosure of this Deed of Trust in and exercise its rights as a secured party for to all or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust for the balance not then due and payable. In case of any sale other portions of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary in its sole discretion may elect. Grantor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of Trust, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the PropertyLender.