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<br />2005J2483 <br /> <br />4.10 Rescission of Notice of Default. Beneficiary (on bchalf of the Lenders) may from <br />time to time rescind any notice of default or notice of sale before any Trustee's sale as provided <br />above, by executing and delivering to Trustee a written notice of such rescission, which such <br />notice, when recorded, shall also constitute a cancellation of any prior declaration of default and <br />demand for sale. The exercise by Beneficiary of such right of rescission shall not constitute a <br />waiver of any breach or default then existing or subsequently occurring, or impair the right of <br />Beneficiary to execute and deliver to Trustee, as above provided, other declarations or notices of <br />default to satisfy the obligations of this Deed of Trust or the obligations secured hereby, nor <br />otherwise affect any provision, covenant or condition of any Loan Document or any of the rights, <br />obligations or remedies of Trustee, Beneficiary or the Lenders hereunder or thereunder. <br /> <br />4.11 Application of Proceeds of Foreclosure Sale. The proceeds of any foreclosure <br />sale of the Property shall be distributed and applied in the following order of priority: first, to all <br />costs and expenses incident to the foreclosure proceedings, including all such items as are <br />mentioned in Section 4.4 hereof; second, to all other items which may under the terms hereof <br />constitute Secured Indebtedness additional to that evidenced by the Notes, with interest thereon <br />as provided herein or in the other Loan Documents; third, to all principal and interest remaining <br />unpaid on the Notes; and fourth, any surplus to Trustor, its successors or assigns, as their rights <br />may appear or to any other party legally entitled thereto. <br /> <br />4.12 Adjournment of Foreclosure Sale. Beneficiary may adjourn from time to time <br />any sale by it to be made under or by virtue of this Deed of Trust by announcement at the time <br />and place appointed for such sale or for such adjourned sale or sales, and, except as otherwise <br />provided by any applicable provision of law, Beneficiary, without further notice or publication, <br />may make such sale at the time and place to which the same shall be so adjourned. <br /> <br />4.13 Insurance Upon Foreclosure. In case of an insured loss after foreclosure <br />proceedings have been instituted, the proceeds of any insurance policy or policies, if not applied <br />in repairing, restoring, replacing or rebuilding any portion of the Property, shall be used to pay <br />the amount due in accordance with any decree of foreclosure that may be entered in any such <br />proceedings, and the balance, if any, shall be paid as the court may direct. In case of the <br />foreclosure of this Deed of Trust, the court in its judgment may provide that the judgment <br />creditor may cause a new or additional loss clause to be attached to each of said policies making <br />the loss thereunder payable to said judgment creditor; and any such foreclosure judgment may <br />further provide, unless the right of redemption has been waived, that in case of redemption under <br />said judgment, then, and in every such case, the redemptory may cause the preceding loss clause <br />attached to each insurance policy to be canceled and a new loss clause to be attached thereto, <br />making the loss thereunder payable to such redemptory. <br /> <br />4.14 Waiver of Statutory Rights. Trustor shall not apply for or avail itself of any <br />appraisement, valuation, redemption, stay, extension, or exemption laws, or any so-called <br />"moratorium laws," now existing or hereafter enacted, in order to prevent or hinder the <br />enforcement or foreclosure of this Deed of Trust, and Trustor hereby waives the benefit of such <br />laws. Trustor, for itself and all who may claim through or under it, waives any and all rights to <br />have the Property and estates comprising the Property marshaled upon any foreclosure of the lien <br />of this Deed of Trust, and agrees that any court having jurisdiction to foreclose such lien may <br />order the Property sold in its entirety. Trustor further waives any and all rights of redemption <br /> <br />- 14 - <br />