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200511357 Third, to satisfy the outstanding balance of obligations secured by any junior liens or encumbrances in the order of their priority; and Fourth, to Borrower or Borrower's successor in interest, or in the event the Property has been sold or transferred to another, to the vested owner of record at the time of Trustee's sale. 7.5 WAIVER OF MARSHALING RIGHTS. Borrower, for itself and for all parties claiming through or under Borrower, and for all parties who may acquire a lien on or interest in the Property, hereby waives all rights to have the Property and/or any other property, including, without limitation, the Collateral, which is now or later may be security for any Secured Obligation, marshaled upon any foreclosure of this Security Instrument or on a foreclosure of any other security for any of the Secured Obligations. 7.6 NO CURE OR WAIVER. Neither Lender's nor Trustee's nor any receiver's entry upon and taking possession of all or any part of the Property, nor any collection of rents, issues, profits, insurance proceeds, condemnation proceeds or damages, other security or proceeds of other security, or other sums, nor the application of any collected sum to any Secured Obligation, nor any the exercise of any other right or remedy by Lender or Trustee or any receiver shall cure or waive any Default or notice of default under this Security Instrument, or nullify the effect of any notice of default or sale (unless all Secured Obligations then due have been paid or performed and Borrower has cured all other Defaults hereunder), or impair the status of the security, or prejudice Lender or Trustee in the exercise of any right or remedy, or be construed as an affirmation by Lender of any tenancy, lease or option or a subordination of the lien of this Security Instrument. 7.7 PAYMENT OF COSTS, EXPENSES AND ATTORNEYS' FEES. Borrower agrees to pay to Lender immediately and upon demand all costs and expenses incurred by Trustee and Lender in the enforcement of the terms and conditions of this Security Instrument (including, without limitation, statutory trustee's fees, court costs and reasonable attorneys' fees, whether incurred in litigation or not) with interest from the date of expenditure until said sums have been paid at the rate of interest applicable to the principal balance of the Note as specified therein. 7.8 POWER TO FILE NOTICES AND CURE DEFAULTS. Borrower hereby irrevocably appoints Lender and its successors and assigns, as its attorney-in-fact, which agency is coupled with an interest, to perform any obi igation of Borrower hereunder upon the occurrence of an event, act or omission which, with notice or passage of time or both, would constitute a Default, orovided, however, that: (a) Lender as such attorney-in- fact shall only be accountable for such funds as are actually received by Lender; and (b) Lender shall not be liable to Borrower or any other person or entity for any failure to act under this Section. 7.9 REMEDIES CUMULATIVE. All rights and remedies of Lender and Trustee under this Security Instrument and the other Loan Documents are cumulative and are in addition to all rights and remedies provided by applicable law (including specifically that of foreclosure of this Security Instrument as though it were a mortgage). Lender may enforce anyone or more remedies or rights under the Loan Documents either successively or concurrently. BORROWER HEREBY REQUESTS THAT, UNLESS OTHERWISE PRESCRIBED BY LAW, A COPY OF ANY NOTICE OF DEF AUL T OR NOTICE OF SALE PURSUANT TO THE NONJUDICIAL FORECLOSURE OF THIS SECURITY INSTRUMENT BE MAILED TO BORROWER AT BORROWER'S MAILING ADDRESS SET FORTH HEREIN. ARTICLE 8. MISCELLANEOUS PROVISIONS 8.1 ADDITIONAL PROVISIONS. The Loan Documents contain or incorporate by reference the entire agreement of the parties with respect to matters contemplated herein and supersede all prior negotiations. The Loan Documents grant further rights to Lender and contain further agreements and affirmative and negative covenants by Borrower which apply to this Security Instrument and to the Property and such further rights and agreements are incorporated herein by this reference. THE OBLIGATIONS AND LIABILITIES OF BORROWER UNDER THIS SECURITY INSTRUMENT AND THE OTHER LOAN DOCUMENTS ARE SUBJECT TO THE PROVISIONS OF THE SECTION IN THE NOTE ENTITLED "BORROWER'S LIABILITY." 25 1244250.5