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<br />First: <br /> To the payment of all reasonable costs and expenses of Beneficiary (including fees and expenses of its agents <br />and counsel) incurred or accrued in connection with (a) the operation, maintenance or repair of the Premises and the <br />Collateral and any and all businesses operated thereon; (b) any proceedings brought by Beneficiary; and (c) any sale <br />(public or private) or other disposition of the Premises and the Collateral. <br />Second: <br /> To the payment of all amounts as provided for in the Note and this Deed of Trust, and the other Loan <br />Documents, whether for principal, interest or otherwise, in whatever order Beneficiary, exercising its sole discretion, <br />may elect. <br />Third: <br /> To the payment of any surplus to Grantor or any other person legally entitled thereto. <br /> <br />5.3Rights Cumulative. <br /> All rights and remedies from time to time conferred upon or <br />reserved to Beneficiary are cumulative, and none is intended to be exclusive of any other. No <br />delay or omission in insisting upon the strict observance or performance of any provision of this <br />Deed of Trust, or to exercise any right or remedy, shall be construed as a waiver or <br />relinquishment of such provision, nor shall it impair such right or remedy. Every right and <br />remedy may be exercised from time to time and as often as deemed expedient. <br /> <br />5.4Appointment of Receiver. <br /> If an Event of Default shall occur, then with or <br />without the filing of judicial proceedings to foreclose this Deed of Trust or otherwise to enforce <br />the rights of Beneficiary, Beneficiary, to the maximum extent permitted by law, and without <br />prior notice to Grantor, shall be entitled as a matter of right to the appointment of a receiver or <br />receivers of the Premises and the Collateral, pending such proceedings, with such powers as are <br />conferred upon Beneficiary herein and as shall be conferred by the court making such <br />appointment; but notwithstanding the appointment of any receiver, trustee, or other custodian, <br />Beneficiary shall be entitled to the possession and control of any cash, or other instruments at the <br />time held by, or payable or deliverable under the terms of this Deed of Trust to Beneficiary. The <br />receiver may serve without bond if permitted by law. Beneficiary's right to the appointment of a <br />receiver shall exist whether or not apparent value of the Premises and Collateral exceeds the <br />indebtedness by a substantial amount. Grantor hereby irrevocably consents to the appointment <br />of a receiver on the terms set forth herein. Employment by Beneficiary shall not disqualify a <br />person from serving as receiver. <br /> <br />5.5Suits to Protect the Premises and the Collateral. <br /> Beneficiary shall have power: <br /> <br />(a)To institute and maintain such suits and proceedings as it may deem <br />expedient to prevent any impairment of the Premises by any acts which may be unlawful or a <br />violation of the Deed of Trust; and <br /> <br />(b)To preserve or protect its interest in the Premises and in the income, <br />revenues, rents and profits arising therefrom. <br /> <br />5.6Beneficiary's Power of Enforcement. <br /> If an Event of Default shall have <br />occurred, Beneficiary may, either with or without entry or taking possession as hereinabove <br />provided or otherwise, proceed by suit or suits at law or in equity or by any other appropriate <br />proceeding or remedy (a) to foreclose this Deed of Trust as a mortgage and to sell, as an entirety <br />or in separate lots, units or parcels, the Premises and the Collateral, under the judgement or <br />decree of a court or courts of competent jurisdiction; and (b) to pursue any other remedy <br />available to it, all as Beneficiary shall deem most effectual for such purposes. Beneficiary shall <br /> - 57 - <br /> <br /> <br />