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201400400 and place of any public or private sale of any real or personal property security for the Debt or other guaranty of the Debt; or (iii) pursue any other remedy in Lender 's power whatsoever. Until the Debt shall have been paid in full, Borrower: (i) shall not have any right of subrogation to any of the rights of Lender against any guarantor, maker or endorser; (ii) waives any right to enforce any remedy which Lender now has or may hereafter have against any other guarantor, maker or endorser; (iii) waives any benefit of, and any other right to participate in, any collateral security for the Debt or any guaranty of the Debt now or hereafter held by Lender. Borrower hereby authorizes and empowers Lender in its sole discretion, without any notice or demand and without affecting the lien and charge of this Security Instrument, to exercise any right or remedy which Lender may have available to it, including, but not limited to, judicial foreclosure, exercise of rights of power of sale without judicial action as to any collateral security for the Debt, whether real, personal or intangible property. Borrower expressly waives suretyship defenses that Borrower may have under California law and the laws of any other state. Without limiting the foregoing, Borrower specifically agrees that any action maintained by Lender for the appointment of any receiver, trustee or custodian to collect rents, issues or profits or to obtain possession of the Mortgaged Property shall not constitute an "action" within the meaning of § 726 of the California Code of Civil Procedure. Notwithstanding anything to the contrary set forth herein, this Security Instrument shall not be deemed to secure the obligations of Borrower under that certain Hazardous Substances Indemnity Agreement dated as of the date hereof. The power of sale conferred by this Security Instrument and by the California Deeds of Trust Act is not an exclusive remedy, and when not exercised, Lender may judicially foreclose this Security Instrument as a mortgage, on the condition, however, that any judgment obtained by Lender against Borrower by judicially foreclosing this Security Instrument or otherwise shall be subject to the terms of paragraph 51 hereof. Deed of Trust Trustee may, at any time upon written request of Lender, and upon payment of its fees and presentation of this Security Instrument and the Note for endorsement (in case of full reconveyance, for cancellation and retention), without affecting the liability of any person for the payment of any obligations secured by this Security Instrument: (i) consent to the making of any map or plat of the Mortgaged Property or any part thereof, (ii) join in granting any easement or creating any restriction thereon; (iii) join in any subordination or other agreement affecting this Security Instrument or the lien or charge thereof; (iv) reconvey, without warranty, all or any part of the Mortgaged Property. The grantee in any reconveyance may be described as the "person or persons legally entitled thereto," and the recitals therein of any matters or facts shall be conclusive proof of the truthfulness thereof. Borrower agrees to pay a reasonable trustee's fee for full or partial reconveyance, together with a recording fee if Deed of Trust Trustee, at its option, elects to record said reconveyance. In case of a non judicial sale under this Security Instrument, the Mortgaged Property and any property therein contained, real, personal and mixed, may be sold in one parcel or in separate parcels and in such order as Deed of Trust Trustee shall determine. - 88 -