With Respect to Units Sample Clauses

With Respect to Units. During the continuance of any Event of Default, Lender shall have the right, but not the obligation, to enter into possession of the Units, to perform all work necessary to complete the construction of the Improvements, and to employ watchmen and other safeguards to protect the Units. Borrower hereby appoints Lender as the attorney-in-fact of Borrower, with full power of substitution, and in the name of Borrower, if Lender elects to do so, upon the occurrence of an Event to Default, to (a) use such sums as are necessary, including any remaining proceeds of the Loan, make such changes or corrections in the Plans, and employ such architects, engineers, and contractors as may be required for the purpose of completing the construction of the Improvements, (b) execute all applications and certificates in the name of Borrower which may be required for completion of construction of the Improvements, (c) endorse the name of Borrower on any checks or instruments payable to Borrower with respect to the Units, including, without limitation, checks representing proceeds from the Insurance Policies, and to receive and use the proceeds thereof to complete the construction of the Improvements or to reimburse Lender for funds, including the Loan, theretofore advanced by Lender to or for the benefit or account of Borrower, (d) do every act with respect to the construction of the Improvements which Borrower may do, and (e) prosecute or defend any action or proceeding incident to the Units. The power-of-attorney granted hereby is a power coupled with an interest and is irrevocable and shall be binding upon Borrower's heirs, executors, administrators, legal representatives, successors and assigns.