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law made and provided. The receiver shall collect the rents, and all other income of any <br /> kind; manage the Mortgaged Property so to prevent waste; execute.leases within or <br /> beyond the period of receivership, pay all expenses for normal maintenance of the <br /> Mortgaged Property and perform the terms of this Mortgage and apply the rents, issues <br /> and profits in the following order to (i) payment of the reasonable fees of said receiver, <br /> (ii) application of tenant security deposits as required by Minnesota Statutes § 504B.178, <br /> (iii) payment when due of prior or current real estate taxes or special assessments with <br /> respect to the Mortgaged Property or, if this Mortgage so requires,to the periodic escrow <br /> for the payment thereof, (iv)the payment when due of premiums for insurance of the type <br /> required by this Mortgage or, if this Mortgage so requires, to the periodic escrow for the <br /> payment thereof; and (v) as further provided in any Assignment of Rents executed by <br /> Mortgagor as further security for the Obligations (whether included in this Mortgage or <br /> separate instrument), including but not limited to applying the same to the costs and <br /> expenses of the receivership, including reasonable attorney's fees,to the repayment of the <br /> Obligations and to the operation, maintenance, upkeep and repair of the Mortgaged <br /> Property, including payment of taxes and payments of premiums of insurance. <br /> Mortgagor does hereby irrevocably consent to such appointment. <br /> 3.5 Specific Performance. Mortgagee may bring suit for specific performance <br /> of any covenant or warranty hereunder. <br /> 3.6 Forbearance and Other Rights of Mortgagee. Any delay by Mortgagee in <br /> exercising any right or remedy hereunder, or otherwise afforded by law or equity, shall <br /> not be a waiver of or preclude the exercise of such right or remedy or any other right or <br /> remedy hereunder or at law or in equity. The failure of Mortgagee to exercise any option <br /> to accelerate maturity of the Obligations secured by the Mortgage, the forbearance by <br /> Mortgagee before or after the exercise of such option, or the withdrawal or abandonment <br /> of proceedings provided for by this Mortgage shall not be a waiver of the right to exercise <br /> such option or to accelerate the maturity of such Obligations by reason of any past, <br /> present or future event which would permit acceleration. The procurement of insurance <br /> or the payment of taxes or other liens or charges by Mortgagee shall not be a waiver of <br /> Mortgagee's right to accelerate the maturity of the Obligations. Mortgagee's receipt of <br /> any awards, proceeds or damages shall not operate to cure or waive default by <br /> Mortgagor. Mortgagee may at any time, without notice, release any person liable for <br /> payment of any Obligations, extend the time or agree to alter the terms of payment of any <br /> of the Obligations, accept additional security of any kind, release any plat or map of the <br /> Mortgaged Property or the creation of any easement thereon or any covenants restricting <br /> use or occupancy thereof, or agree to alter or amend the terms of this Mortgage in any <br /> way. No such release, modification, addition or change shall affect the liability of any <br /> person other than the person so released, for payment of any Obligations, nor affect the <br /> priority and first lien status of this Mortgage upon any property not so released. <br /> -11- <br />