Common use of Waiver of Notices and Consent to Remedies Clause in Contracts

Waiver of Notices and Consent to Remedies. Unless otherwise expressly ------------------------------------------ provided herein or in the other Loan Documents, any right or remedy may be pursued without notice to or further consent of Mortgagor, both of which Mortgagor waives. 7.4.3 Each right or remedy under the Loan Documents is distinct from but cumulative to each other right or remedy and may be exercised independently of, concurrently with, or successively to any other rights and remedies. 7.4.4 No extension of time for or modification of amortization of the loan shall release the liability or bar the availability of any right or remedy against Mortgagor or any successor in interest, and Mortgagee shall not be required to commence proceedings against Mortgagor or any successor or to extend time for payment or otherwise to modify amortization of the loan secured by this Mortgage by reason of any demand by Mortgagor or any successor. 7.4.5 Mortgagee has the right to proceed at its election against all security or against any item or items of such security from time to time, and no action against any item or items of security shall bar subsequent actions against any item or items of security. 7.4.6 No forbearance in exercising any right or remedy shall operate as a waiver thereof; no forbearance in exercising any right or remedy on any one or more occasion shall operate as a waiver thereof on any further occasion; and no single or partial exercise of any right or remedy shall preclude any other exercise thereof or the exercise of any other right or remedy. 7.4.7 Failure by Mortgagee to insist upon the strict performance of any of the covenants and agreements herein set forth or to exercise any rights or remedies upon default by Mortgagor hereunder shall not be considered or taken as a waiver or relinquishment for the future of the right to insist upon and to enforce by mandamus or other appropriate legal or equitable remedy strict compliance by Mortgagor with all of the covenants and conditions hereof, or of the rights to exercise any such rights or remedies, if such default by Mortgagor is continued or repeated, or of the right to recover possession of the Property by reason thereof. To the extent permitted by law, any two or more of such rights or remedies may be exercised at the same time. 7.4.8 If any covenant or agreement contained in any Loan Document is breached by Mortgagor and thereafter waived by Mortgagee, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other breach hereunder. No waiver shall be binding unless it is in writing and signed by Mortgagee. No course of dealing between Mortgagee and Mortgagor, nor any delay or omission on the part of Mortgagee in exercising any rights under any of the Loan Documents, shall operate as a waiver. 7.4.9

Waiver of Notices and Consent to Remedies. Unless otherwise expressly ------------------------------------------ provided herein or in the other Loan Documents, any right or remedy may be pursued without notice to or further consent of MortgagorTrustor, both of which Mortgagor Trustor waives. 7.4.3 Each right or remedy under the Loan Documents is distinct from but cumulative to each other right or remedy and may be exercised independently of, concurrently with, or successively to any other rights and remedies. 7.4.4 No extension of time for or modification of amortization of the loan shall release the liability or bar the availability of any right or remedy against Mortgagor Trustor or any successor in interest, and Mortgagee Beneficiary shall not be required to commence proceedings against Mortgagor Trustor or any successor or to extend time for payment or otherwise to modify amortization of the loan secured by this Mortgage Deed of Trust by reason of any demand by Mortgagor Trustor or any successor. 7.4.5 Mortgagee Beneficiary has the right to proceed at its election against all security or against any item or items of such security from time to time, and no action against any item or items of security shall bar subsequent actions against any item or items of security. 7.4.6 No forbearance in exercising any right or remedy shall operate as a waiver thereof; no forbearance in exercising any right or remedy on any one or more occasion shall operate as a waiver thereof on any further occasion; and no single or partial exercise of any right or remedy shall preclude any other exercise thereof or the exercise of any other right or remedy. 7.4.7 Failure by Mortgagee Beneficiary to insist upon the strict performance of any of the covenants and agreements herein set forth or to exercise any rights or remedies upon default by Mortgagor Trustor hereunder shall not be considered or taken as a waiver or relinquishment for the future of the right to insist upon and to enforce by mandamus or other appropriate legal or equitable remedy strict compliance by Mortgagor Trustor with all of the covenants and conditions hereof, or of the rights to exercise any such rights or remedies, if such default by Mortgagor Trustor is continued or repeated, or of the right to recover possession of the Property by reason thereof. To the extent permitted by law, any two or more of such rights or remedies may be exercised at the same time. 7.4.8 If any covenant or agreement contained in any Loan Document is breached by Mortgagor Trustor and thereafter waived by MortgageeBeneficiary, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other breach hereunder. No waiver shall be binding unless it is in writing and signed by MortgageeBeneficiary. No course of dealing between Mortgagee Beneficiary and MortgagorTrustor, nor any delay or omission on the part of Mortgagee Beneficiary in exercising any rights under any of the Loan Documents, shall operate as a waiver. 7.4.97.4.9 Pursuant to this Deed of Trust, Trustor has granted to Beneficiary a security interest in the personal property and Fixtures comprising a part of the Property to further secure the Secured Obligations. Trustor hereby authorizes Beneficiary to file financing and continuation statements with respect to such collateral (including Fixtures) in which Trustor has an interest, without the signature of Trustor whenever lawful, and upon request, Trustor shall promptly execute financing and continuation statements in form satisfactory to Beneficiary to perfect and maintain perfected Beneficiary's security interest in such collateral, and shall pay all filing fees in connection therewith. If Trustor fails to execute any such statement pursuant to Beneficiary's request, Beneficiary may execute such statement as Trustor's attorney-in-fact pursuant to the power of attorney made by Trustor under 7.2 hereof. In the event of the occurrence of one or more Events of Default, Beneficiary, pursuant to the applicable provision of Article 9, shall have the option of proceeding as to both real and personal property in accordance with its rights and remedies in respect of the Property, in which event the default provisions of Article 9 shall not apply. The parties agree that in the event Beneficiary elects to proceed with respect to collateral constituting personal property or Fixtures separately from the other Property, the giving of five days' notice by Beneficiary, sent by an overnight mail service, postage prepaid, to Trustor at its address referred to in the introductory paragraph herein, designating the place and time of any public sale or the time after which any private sale or other intended disposition of such collateral is to be made, shall be deemed to be reasonable notice thereof and Trustor waives any other notice with respect thereto. 7.4.10 Trustor and any other person now or hereafter obligated for the payment or performance of all or any part of the Note shall not be released from paying and performing under the Note, and the lien of this Deed of Trust shall not be affected by reason of [i] the failure of Beneficiary to comply with any request of Trustor (or of any other person so obligated), to take action to foreclose this Deed of Trust or otherwise enforce any of the provisions of this Deed of Trust or of any of the Secured Obligations, or [ii] the release, regardless of consideration, of the obligations of any person liable for payment or performance of the Note, or any part thereof, or [iii] any agreement or stipulation extending the time of payment or modifying the terms of the Note, and in the event of such agreement or stipulation, Trustor and all such other persons shall continue to be liable under such documents, as amended by such agreement or stipulation, unless expressly released and discharged in writing by Beneficiary. 7.4.11