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200002666 advances made or incurred by the Beneficiary under this Deed of Trust in connection with the enforcement hereof, together with interest, on all advances at the rate of 15 percent per annum; fourth, to the Bonds then due and unpaid with interest (together with penalty interest at the rate of 15 percent per annum) up to the time of such payment; fifth, to the payment of junior trust deeds, mortgages or other lienholders; and sixth, the balance, if any, to the Company or any other person or persons legally entitled thereto. The Deed Trustee, at the direction of the Bond Trustee, may also choose to foreclose the lien of this Deed of Trust and apply the proceeds from such foreclosure sale in the same manner as aforementioned with regard to the Deed Trustee's power of sale hereunder. If the Project is sold or foreclosed on pursuant to this Section 7, the Deed Trustee shall have all of the right, title and interest of Trustor in and to any insurance policies maintained with respect to the Project and unearned premiums thereon and in and to any proceeds thereof resulting from any damage to the Project prior to such sale or foreclosure. Upon any sale pursuant to this Section 7, the Bond Trustee and the owner or owners of any Bonds may bid for and purchase the property being sold. No remedy herein conferred upon or reserved to the Deed Trustee or the Beneficiary is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. No delay or omission of the Deed Trustee or the Beneficiary, in exercising any right or power, shall be construed to be a waiver of any event of default or any acquiescence therein; and every power and remedy given by this Deed of Trust to the Deed Trustee or the Beneficiary may be exercised from time to time as often as may be deemed expedient by the Deed Trustee or the Beneficiary. Nothing in this Deed of Trust or in the Indenture or the Bonds shall affect the obligation of the Trustor to pay the principal of and interest on the Bonds, or the obligation of the Company to pay all amounts specified in the Agreement, in the amounts, in the manner and at the times and places therein respectively expressed. 8. ACCELERATION OF MATURITY AND FORECLOSURE. Upon the occurrence of an "Event of Default" (as that term is defined in the Indenture) under the Indenture while any Bonds remain outstanding thereunder, and acceleration of payment of principal of and interest on the Bonds by the Bond Trustee pursuant to the Indenture, the Bond Trustee may, at its option, direct the Deed Trustee to foreclose on this lien and, upon commencement of foreclosure proceedings, shall be entitled to have a receiver appointed to take possession and charge of the Project and sell or lease the subject premises or any part thereof, and collect, receive and sequester any rentals, earnings, income, revenues, payments or moneys therefrom (as may be permitted by law) and apply such amounts received, net after payment of the Beneficiary's reasonable compensation, and reasonable compensation of its agents, counsel and any payment agents, and any taxes and assessments and other charges prior to the lien created by this Deed of Trust which the Beneficiary may deem it wise to pay, and such other reasonable and necessary expenses 337230.3 -5-