Common use of COLLATERAL SECURITY INSTRUMENTS Clause in Contracts

COLLATERAL SECURITY INSTRUMENTS. Mortgagor covenants and agrees that if Mortgagee at any time holds additional security for any obligations secured by this Mortgage, it may, upon the occurrence of an Event of Default, 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 Mortgage. Mortgagee 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 Mortgage, and without waiving any breach or default of Mortgagor under this Mortgage, any other Loan Document, or the Unsecured Indemnity Agreement.

COLLATERAL SECURITY INSTRUMENTS. Mortgagor covenants and ------------------------------- agrees that if Mortgagee at any time holds additional security for any obligations secured by this Mortgage, it may, upon the occurrence of an Event of Default, 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 Mortgage. Mortgagee 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 Mortgage, and without waiving any breach or default of Mortgagor under this Mortgage, Mortgage or any other Loan Document, or the Unsecured Indemnity Agreement.