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201400400 exercise in Lender's discretion, any and all rights and remedies afforded Lender under Section 2938 of the California Civil Code. 8. The following provision is hereby added to paragraph 7 of this Security Instrument as subsection (d): (d) Upon the foreclosure of the lien created by this Security Instrument on the Mortgaged Property pursuant to the provisions hereof, any Lease then existing and affecting all or any portion of the Mortgaged Property shall not be destroyed or terminated by application of the law of merger or as a matter of law or as a result of such foreclosure unless Lender or any purchaser at such foreclosure sale shall so elect. No act by or on behalf of Lender or any such purchaser shall constitute a termination of any Lease unless Lender or such purchaser shall give written notice of such termination to such tenant or subtenant. If both the Lessor's and Lessee's estate under any Lease or any portion thereof which constitute a part of the Mortgaged Property shall at any time become vested in one owner, this Security Instrument and the lien created hereby shall not be destroyed or terminated by application of the doctrine of merger unless Lender so elects as evidenced by recording a written declaration so stating, and, unless and until Lender so elects, Lender shall continue to have and enjoy all of the rights and privileges of Lender hereunder as to the separate estates.