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Section 4.01. Section 4.02. Section 4.03. Section 4.04. Section 4.05. Section 4.06. Section 4.07. Section 4.08. Section 5.01. Section 5.02. Section 5.03. Section 5.04. Section 5.05. Section 5.06. Section 5.07. Section 5.08. Section 5.09. Section 5.10. Section 5.11. 200709869 ARTICLE IV EVENTS OF DEFAULT AND REMEDIES UPON DEFAULT Events of Default ....... ......... ..... .................. ...... .............................................................. 10 Acceleration Upon Default; Additional Remedies......................................................... 11 Exercise of Power of Sale ......................................................... ....... ................... ........... 12 Appointment of Receiver ...................... ......................................................................... 13 Remedies Not Exclusive...... ...................... ......... .................. ........... ..................... ......... 13 Possession of Encumbered Property .............................................................................. 14 Cash Collateral......... ..... .......... ......... ................ ....................... ....................................... 14 Limited Obligation of County ........................................................................................ 14 ARTICLE V MISCELLANEOUS Governing Law ........................................... ................................................................... 15 Waiver of Rights............................................................................. ..................... .......... 15 Limitation of Interest ..... ............ ............. ........................... ............................................ 15 Notices........................................................................................................................... 16 Captions........................................................................ ............... ........ ............. ............. 16 Invalidity of Certain Provisions; Conflicting Provisions ............................................... 16 Subrogation .............. .......... ........................ ................... ........ ............... ..... ............... ...... 17 Change in Ownership ........... ................... ......................................... ................. ............. 17 Assignment of the Beneficiary's Interest .................................... ......................... .......... 17 Time Is of the Essence................................................................................................... 17 Ohligations of Grantor................................................... ......... ............................ ........... 17 Signatures... .......... ................. ........ ....................... ..... ........... .............. .......................................... S-l Exhihit A - Legal Description Exhibit B - Permitted Title Encumbrances (ii)