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(ii) Borrower hereby constitutes and appoints Lender its true and <br /> lawful attorney-in-fact with full power of substitution either in the <br /> name of Lender or in the name of Borrower or in the name of both, <br /> for the following purposes: (a) to purchase the Equipment; to <br /> collect and use any funds of Borrower; to use any funds which may <br /> remain unadvanced under this Agreement; to enter into such <br /> contracts and arrangements as Lender reasonably deems necessary <br /> for such purposes; to prosecute and defend all actions or <br /> proceedings in connection with the Loan Property or the <br /> Equipment and do any and every act which Borrower might do in <br /> its own behalf, (b) OMITTED; (c) to perform each of the terms, <br /> covenants and conditions to be kept and performed by Borrower <br /> under any contracts and/or leases obtained or held by Borrower in <br /> connection with the operation of the Improvements or the purchase <br /> of the Equipment, and any other contracts; (d) without limiting the <br /> foregoing, to perform each of the terms, covenants and conditions <br /> to be kept or performed by Borrower under this Agreement, the <br /> Security Agreement and any other instrument required under this <br /> Agreement, the Bank Loan Documents, the City Loan Documents, <br /> County Loan Documents or the Microloan Documents; and (e) to <br /> do all things that Lender reasonably deems necessary or advisable <br /> for the purpose of carrying out the powers enumerated in (a), (b), <br /> (c) and (d) of this Subparagraph (ii); <br /> 0, he powers herein granted Lender shall be deemed to be powers <br /> coupled with an interest and the same are irrevocable; <br /> (4) cancel this Agreement; <br /> (5) ;bring appropriate action to enforce such performance and the <br /> correction of such Event of Default; <br /> - (6) declare the entire unpaid principal of the Note and all accrued <br /> interest thereon immediately due and payable without notice; <br /> N(7exercise any remedies under the Security Agreement, foreclose the <br /> Mortgage and any other security instrument referred to in this Agreement and/or <br /> exercise any other rights or remedies it may have under the Security Agreement, <br /> the Mortgage and such other security instrument. <br /> 16. Default under Note and Security Agreement. The failure by Borrower to <br /> keep or perform any of the terms, covenants and conditions to be kept or performed by it <br /> under this Agreement shall constitute a default under the Note, the Security Agreement <br /> and any other security instrument held by Lender in connection with the Loan. <br /> -13- <br />