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HomeMy WebLinkAbout29LL�_ (d) to the payment of all amounts owing under the Junior Note and the Junior Deed of Trust in such manner and order of preference as Beneficiary in its sole discretion may determine; and (c) the balance, if any, to the payment of the persons legally entitled tbereto. Section 4.8 occupancy After Ebreclosure. The Purchaser at any foreclosure We pursuant to Section 4.1 shall become the legal owner of the Mortgaged Property. All occupants of the Mortgaged Property shall, at the option of such purchaser, become tenants of the purchaser at the foreclosure sale and shall deliver possession thereof immediately to the purchaser upon demand. It shallnot be necessary for the purchaser at said sale to bring any action for possession of the Mortgaged Property other than the statutory action of forcible detainer in any justice court having jurisdiction over the Mortgaged Property, Section 4.9 Additional Advances and Disbursementst Coaty_Qf ElIfu CC1119 . (a) If any Event of Default exists, Beneficiary shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of Grantor. All sums advanced and expenses incurred at any time by Beneficiary under this Section 4.9, or otherwise under this Deed of Trust or any of the other Loan Documents or applicable law, shall bear interest from the date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the Default Pate (as defined in the Loan Agreement), and all such sums, together with interest thereon, shall be secured by this Deed of Trust. (b) Grantor shall pay all expenses (including reasonable attorneys' fees and expenses) of or incidental co the perfection and enforcement of this Deed of Trust and the other Loan Documents, or the enforcement, compromise or settlement of the Indebtedness or any claim under this Dad of Trust and the other Doan Document, and for the curing thereof; or for defending cr asserting the rights and claims of Beneficiary in respect thereof, by litigation or otherwise. Section 4.10 No MoriggZmAlTiluation. Neither the cuforcement of any of the remedies under this Article 4, the assignment of the Rents and Leases under Article S, the security interests under Artick. 6, nor any other remedies afforded to Beneficiary under the Loan Documents, at law or in equity shall cause Beneficiary or Trustee to be deemed or construed to be a mortgagee in possmion of the Mortgaged Property, to obligate Beneficiary or Trustee to lease the Mortgaged Property or attempt to do so, or to take any action, incur any expense, or perform or discharge any obligation, duty or Lability whatsoever under any of thr. Leases or otherwise-