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200210067 portion thereof. If Beneficiary elects not to participate in such proceedings, then Grantor shall, at its expense, diligently prosecute any such proceeding and shall consult with Beneficiary, its attorneys and experts and cooperate with them in any defense of any such proceedings and Grantor agrees to execute any such assignments of all such awards as Beneficiary may reasonably request. (b) If Grantor undertakes to restore or repair the Property after the occurrence of a casualty or partial taking of the Property, Grantor shall promptly and diligently, at Grantor's sole cost and expense and regardless of whether the insurance proceeds or condemnation award, as appropriate, shall be sufficient for the purpose, restore, repair, replace and rebuild the Property as nearly as possible to its value condition and character immediately prior to such casualty or partial taking and Grantor shall pay to Beneficiary all reasonable costs and expenses of Beneficiary incurred in administering said rebuilding, restoration or repair, provided that Beneficiary makes such proceeds or award available for such purpose. Upon the occurrence of a Property Loss Event, Grantor agrees to execute and deliver from time to time such further instruments as may be requested by Beneficiary to confirm the foregoing assignment to Beneficiary of any award, damage, insurance proceeds, payment or other compensation. Grantor hereby irrevocably constitutes and appoints Beneficiary the attorney -in -fact of Grantor (which power of attorney shall be irrevocable so long as any indebtedness secured hereby is outstanding, shall be deemed coupled with an interest, shall survive the voluntary or involuntary dissolution of Grantor and shall not be affected by any disability or incapacity suffered by Grantor subsequent to the date hereof), with full power of substitution, subject to the terms of this Section 5 and the Credit Agreement, but only upon the occurrence of a Property Loss Event, to settle for, collect and receive any such awards, damages, insurance proceeds, payments or other compensation from the parties or authorities making the same, to appear in and prosecute any proceedings therefor and to give receipts and acquittance therefor. 6. Beneficiary's Rieht to Perform. Pursuant to the terms of the Credit Agreement, if Grantor fails to perform certain covenants or agreements of Grantor under the Credit Agreement relating to the Property, the Beneficiary may, at any time (but shall be under no obligation to) pay or perform the same, provided that (other than in the case of an emergency or after an Event of Default shall have occurred), the Beneficiary shall have first given ten (10) days' written notice to Grantor of the Beneficiary's intention to do so, and the amount or cost of any such payment or performance, with interest at the rate specified in Section 2.10 (c) of the Credit Agreement (the "Applicable Rate "), shall immediately be due from Grantor to Beneficiary (as the case may be) and shall be added to the Secured Obligations, and the same shall be secured by this Deed of Trust and shall be an encumbrance on the Property prior to any right, title to, interest in or claim upon the Property attaching subsequent to the lien of this Deed of Trust. Event of Default: Remedies. (a) It shall be an "Event of Default" under this Deed of Trust if any Event of Default (as defined in the Credit Agreement) shall exist pursuant to the Credit NY2 \1178150@9T92AN1 \35899.00]9 11