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200605846 Borrower shall be deemed to have assumed and agreed to pay the amount owing under the Revolving Loan Agreement and the other indebtedness secured hereby and be bound by the terms hereof, whether or not the instrument evidencing such sale or transfer expressly so provides, and this covenant shall run with the Real Property and remain in full force and effect until the entire amount owing under the Revolving Loan Agreement and the other indebtedness secured hereby is paid or discharged in fulL Upon the occurrence of any of the foregoing events and consent thereto having not been given by Lender, the mere fact of a lapse of time or the acceptance of payments subsequent to any of such events shall not be deemed a waiver of Lender's right to make such election, nor shall Lender be estopped therefrom by virtue thereof. Borrower shall be required to notifY Lender upon the occurrence of any of the events affecting title as above-described, and failure to do so shall constitute a default hereunder. No sale of the Real Property, assumption or other event specified above and approved by Lender shall operate to release or affect the original liability of Borrower, either in whole or in part, unless Borrower is expressly released in writing by Lender. 20. ACCELERATION; REMEDIES. (a) Acceleration and Power of Sale. Upon (i) Borrower's breach of any covenant or agreement of Borrower in this Instrument and the failure to cure the same within twenty (20) days after notice thereof by Lender to Borrower or (ii) the OCcurrence of an Event of Default (as such term is defined in the Revolving Loan Agreement), Lender, at Lender's option, may declare all of the sums secured by this Instrument to be immediately due and payable without further demand, and may invoke the power of sale and other remedies permitted by applicable law or provided herein. Lender shall be entitled to collect all costs and expenses incurred in pursuing such remedies, including, but not limited to, reasonable attorneys' fees and costs of documentary evidence, abstracts and title reports. If Lender invokes the power of sale, Lender and Trustee shall execute or cause to be executed a written notice of the occurrence of an Event of Default and of Lender's election to cause the Real Property to be sold or shall comply with such requirements and procedures as required by the law of the State in which this instrument is recorded for foreclosure under a power of sale. Trustee shall sell the Real Property according to applicable law. Trustee may sell the Real Property at the time and place and under the terms designated in the notice of sale in one or more parcels and in such order as Trustee may determine. Trustee may postpone sale of all or any parcel of the Real Property by public announcement at the time and place of any previously scheduled sale and in accordance with applicable law. Lender or Lender's designee may purchase the Real Property at any sale. The Trustee shall deliver to the purchaser a Trustee's deed upon sale conveying the Real Property so sold without any covenant or warranty, expressed or implied, except as required by applicable law. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Except as otherwise required by applicable law, Trustee shall apply the proceeds of the sale in the following order: (i) to all costs and expenses of the sale, including, but not limited to, Trustee's and attorneys' fees actually incurred and costs of title evidence, with Trustee's fees not to exceed five percent (5%) of the proceeds of the sale; (ii) to all sums secured by this Instrument in such order as Lender, in Lender's sole discretion, directs; (iii) to the payment of junior trust deeds, mortgages or other lienholders; and (iv) the excess, if any, to the person or persons legally entitled thereto. (b) Foreclosure as Mortgage. This Instrument shall be effective as a mortgage as well as a deed of trust and may be foreclosed as a deed of trust or a mortgage as to any of the 13