Agenda - 11-16-1993 - VIII-A (2)

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the persons entitled thereto under the Trust Indenture unless otherwise provided by law. 3 . 3 Foreclosure Sale. At such sale, the Beneficiary may bid for and acquire all or any part or parts of the Mortgaged Property and in lieu of paying cash therefor may make settlement for the purchase price by crediting upon the sums due and payable under and secured by this Deed of Trust, the net sales price, which shall be the proceeds of sale after deducting therefrom the expenses, taxes and assessments referred to above. At any sale, the Deed of Trust Trustee shall require the successful bidder immediately to deposit with the Deed of Trust Trustee cash or a certified check in the amount equal to 10% of the first $1, 000 of the successful bid and 5% of any amount in excess thereof, and notice of such requirement shall be included in the advertisement of the notice of such sale . SECTION 4 Additional Rights and Remedies of Beneficiary and Deed of Trust Trustee 4 . 1 Rights upon Default . Upon the occurrence of an Event of Default, the Beneficiary and the Deed of Trust Trustee shall be entitled to exercise all the rights and remedies provided in this Deed of Trust or as otherwise provided by law or in equity, including, without limiting the generality of the foregoing, the right to have judicially appointed a receiver of the Mortgaged Property, the right to judicial foreclosure and the right to enter the Mortgaged Property and to operate, maintain, control and lease the same. No remedy of the Beneficiary under this Deed of Trust is intended to be exclusive of any remedy now or hereafter existing at law or in equity, by statute, or under this Deed of Trust or the Trust Indenture. No delay or omission of the Deed of Trust Trustee or the Beneficiary to exercise any right or power accruing upon any Event of Default shall impair such right or power or shall be construed to be a waiver of any such Event of Default or acquiescence therein. Every power or remedy given by this Deed of Trust to the Deed of Trust Trustee or the Beneficiary may be exercised from time to time as often as may be deemed expedient by the Deed of Trust Trustee or the Beneficiary. The Grantor hereby waives any and all rights to require marshalling of assets in connection with the exercise of any remedies provided herein or as permitted by law. 4 .2 Additional Rights upon Default . Upon the occurrence of an Event of Default, the Grantor agrees that the Beneficiary has the right to inspect the Mortgaged Property for the purpose of determining whether the property either is contaminated by any Hazardous Materials (as defined in the Trust Indenture) or is being used or has been used for any activity directly or indirectly involving any Hazardous Materials which could result in liability to the trust created by this Deed of Trust or the Beneficiary. In the event of the presence of any Hazardous Materials at the 6