Laserfiche WebLink
actions or enforcement proceedings with respect to any security for the repayment of the Loan <br />and any amounts derived therefrom, together with an accounting of the applications of such <br />amounts. <br /> <br />9. This Participation Agreement incorporates the terms of all mortgages, agreements, instruments <br />or documents securing the repayment of the Loan, if any, which are attached hereto as exhibits, <br />and are incorporated by reference herein. <br /> <br />10. This Participation Agreement shall continue in full force and effect until all amounts payable <br />under the Loan have been paid in full. <br /> <br />11. The Financial Institution shall not execute a satisfaction of any mortgage, agreement or <br />document securing the repayment of the Loan without the prior written consent of the <br />Authority. <br /> <br />12. The Financial Institution is hereby granted, subject to paragraphs 7 and 11, the power and <br />authority to administer, manage and service the Loan; to waive the performance of obligations <br />of the Borrower; to excuse the non-occurrence of conditions; to exercise collection rights with <br />respect to any collateral; to foreclose against any collateral or to accept a transfer in lieu of <br />foreclosure; to collect and receive any and all payments, collections and proceeds of collateral <br />made or delivered by or for the account of the Borrower and at its sole discretion to release <br />such payments, collections and proceeds to the Borrower or apply the same to the payment of <br />indebtedness; to enforce rights against third parties; to manage and control proceedings in the <br />BorrowerÓs bankruptcy; and otherwise to do and refrain from doing any and all acts and things <br />which the Financial Institution would be required or permitted to do or refrain from doing in <br />connection with the Loan if it had retained its entire interest as lender in the loan, but acting <br />on behalf of the Authority and all other participants, if any. <br /> <br />13. Neither the Financial Institution nor any of its directors, officers, employees or agents shall be <br />liable for any action taken or omitted by the Financial Institution or any of them except in the <br />case of gross negligence or willful misconduct. <br /> <br />14. Neither the Financial Institution nor the Authority (i) shall be liable or responsible for any <br />representations or warranties made by, or for obligations binding upon or assumed by, the <br />Borrower or anyone else; or (ii) make any representation or warranty as to the genuineness, <br />legality, validity, perfection, priority, enforceability or sufficiency of the Loan; or of any <br />securing interests, mortgage liens, guaranties, or other collateral rights and remedies securing <br />the Loan; or of any of the documents evidencing the Loan or any other agreement made or <br />instrument, document or writing issued thereunder, in connection therewith, or as a result <br />thereof; or (iii) make any representation or warranty as to the Borrower, as to any financial <br />statements or collateral reports submitted by or for the Borrower, as to any risk of loss with <br />respect to the Loan, or as to any matter whatsoever; or (iv) shall have any right or recourse <br />against the other party hereto. <br /> <br /> <br />18 <br />23 <br /> <br />