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201007174 ARTICLE IV Acceleration; Foreclosure 4.1 Accelerarion of Secured Obli ations. Upon the occurrence of an Event of Default, subject to applicable law, the entire balance of all or any portion of the Secured Obligations, including all accrued interest, shall, at the option of the Agent, become immediately due and payable. 4.2 Foreclosure. Upon the occurrence of an Event of Default, the Agent may foreclose or cause the Trustee to foreclose the lien of this Security Instrument by judicial or nonjudicial proceeding in a manner permitted by applicable law. Ta the maximum extent permitted by applicable law, the Grantor hereby waives any statutory right of redemption in connection with such foreclosure proceeding. 4.3 Proceeds of Sale. Following a foreclosure sale, the proceeds of such sale shall, subject to applicable law, be applied in accordance with the Intercreditor Agreement. 4.4 Delive of Possession After Foreclosure. In the event there is a foreclosure sale hereunder and at the time of such sale, the Grantor or the Grantor's heirs, devisees, representatives, successors or assigns are occupying or using the Premises, or any part thereof, each and all immediately shall become the tenant of the purchaser at such sale, which tenancy shall be a tenancy from day to day, terminable at the will of either landlord or tenant, at a reasonable rental per day based upon the value of the property occupied, such rental to be due daily to the purchaser; and to the extent permitted by applicable law, the purchaser at such sale, notwithstanding any language herein apparently to the contrary, shall have the sole option to demand possession immediately following the sale or to permit the occupants to remain as tenants at will. In the event the tenant fails to surrender possession of said property upon demand, the purchaser shall be entitled to institute and maintain a summary action for possession of the property (such as an action for forcible detainer) in any court having jurisdiction. ARTICLE V Additional Rights and Remedies of Agent 5.1 Ri is U on Maturit or an Event of Default. Upon the occurrence of an Event of Default (after giving effect to any applicable grace or cure periods), the Agent, immediately and without additional notice and without liability therefor to the Grantor and to the extexxt permitted by law, except for its own gross negligence, willful misconduct or breach in bad faith of its obligations hereunder, may do or cause to be done any or all of the following: (a) take physical possession of the Premises; (b) exercise its right to collect the Rents and Profits; (c) enter into contracts for the completion, repair and maintenance of the Improvements thereon; (d) expend loan funds and any income or Rents and Profits derived from the Premises for payment of any taxes, insurance premiums, assessments and charges far completion, repair and maintenance of the Improvements, preservation of the lien of this Security Instrument and satisfaction and fulfillment of any liabilities or obligations of the Grantor arising out of or in any CHART\1182503x1 10