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80A - SETTLEMENT AGMT FINAL VERSION
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80A - SETTLEMENT AGMT FINAL VERSION
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1/3/2012 3:47:44 PM
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Agenda Packet
Date
4/18/2011
Destruction Year
2016
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FINAL VERSION
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continue as such and exercise all such powers until the date of confirmation of sale of the <br />Property, unless such receivership is sooner terminated. <br />Section 4.6 Remedies Cumulative. No right, power or remedy conferred upon or <br />reserved to the Beneficiary by this Deed of Trust is intended to be exclusive of any other right, <br />power or remedy, but each and every such right, power and remedy shall be cumulative and <br />concurrent and shall be in addition to any other right, power and remedy given hereunder or now <br />or hereafter existing at law or in equity. <br />Section 4.7 No Waiver. <br />(a) No delay or omission of the Beneficiary to exercise any right, power or remedy <br />accruing upon any Default shall exhaust or impair any such right, power or remedy, or shall be <br />construed to be a waiver of any such Default or acquiescence therein; and every right, power and <br />remedy given by this Deed of Trust to the Beneficiary may be exercised from time to time and as <br />often as may be deemed expeditious by the Beneficiary. No consent or waiver, expressed or <br />implied, by the Beneficiary to or of any breach by the Trustor in the performance of the <br />obligations hereunder shall be deemed or construed to be a consent to or waiver of obligations of <br />the Trustor hereunder. Failure on the part of the Beneficiary to complain of any act or failure to <br />act or to declare an Event of Default, irrespective of how long such failure continues, shall not <br />constitute a waiver by the Beneficiary of its right hereunder or impair any rights, powers or <br />remedies consequent on any breach or Default by the Trustor. <br />(b) If the Beneficiary (i) grants forbearance or an extension of time for the payment <br />of any sums secured hereby, (ii) takes other or additional security or the payment of any sums <br />secured hereby, (iii) waives or does not exercise any right granted herein, or in the Agreement, <br />(iv) releases any part of the Security from the lien of this Deed of Trust, or otherwise changes <br />any of the terms, covenants, conditions or agreements of this Deed of Trust or the Agreement, <br />(v) consents to the filing of any map, plat or replat affecting the Security, (vi) consents to the <br />granting of any easement or other right affecting the Security, or (vii) makes or consents to any <br />agreement subordinating the lien hereof, any such act or omission shall not release, discharge, <br />modify, change or affect the original liability under this Deed of Trust, or any other obligation of <br />the Trustor or any subsequent purchaser of the Security or any part thereof, or any maker, co- <br />signer, endorser, surety or guarantor (unless expressly released); nor shall any such act or <br />omission preclude the Beneficiary from exercising any right, power or privilege herein granted <br />or intended to be granted in the event of any Default then made or of any subsequent Default, <br />nor, except as otherwise expressly provided in an instrument or instruments executed by the <br />Beneficiary shall the lien of this Deed of Trust be altered thereby. In the event of the sale or <br />transfer by operation of law or otherwise of all or any part of the Property, the Beneficiary, <br />without notice, is hereby authorized and empowered to deal with any such vendee or transferee <br />with reference to the Security (or a part thereof) or the indebtedness secured hereby, or with <br />reference to any of the terms, covenants, conditions or agreements hereof, as fully and to the <br />same extent as it might deal with the Trustor and without in any way releasing or discharging <br />any liabilities, obligations or undertakings of the Trustor. <br />Section 4.8 Suits to Protect the Security. The Beneficiary shall have power (upon <br />ninety (90) days notice to the Trustor) to (a) institute and maintain such suits and proceedings as <br />ATTACHMENT NO. 9-6 <br />DOCSOG1400673v 1412002720001
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