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O'Q1411G <br />12. Governing Law: Severabilijy. The state and local laws applicable to this <br />Deed of Trust shall be the laws of the State of California. The foregoing sentence <br />shall not limit the applicability of Federal law to this Deed of Trust. In the event <br />that any provision or clause of this Deed of Trust or the Note conflicts with <br />applicable law, such conflict shall not affect other provisions of this Deed of Trust or <br />the Note which can be given effect without the conflicting provision, and to this end <br />the provisions of this Deed of Trust and the Note are declared to be severable. As <br />used herein, "costs", "expenses" and "attorneys' fees" include all sums to the extent <br />not prohibited by applicable law or limited herein. <br />13. Transfer of the Property or a Beneficial Interest in Borrower. If all or <br />any part of the Property or any interest in it is sold or transferred (or if a beneficial <br />interest in Borrower is sold or transferred and Borrower is not a natural person), <br />Lender may, at its option, require immediate payment in full of all sums secured by <br />this Deed of Trust. However, this option shall not be exercised by Lender if exercise <br />is prohibited by federal law as of the date of this Deed of Trust, or if Lender has <br />executed a separate written waiver of this option. <br />If Lender exercises this option, Lender shall give Borrower notice of <br />acceleration. The notice shall provide a period of not less than thirty (30) days from <br />the date the notice is delivered or mailed within which Borrower must pay all sums <br />secured by this Deed of Trust. If Borrower fails to pay these sums prior to the <br />expiration of this period, Lender may invoke any remedies permitted by this Deed of <br />Trust without further notice or demand on Borrower. <br />Notwithstanding the foregoing, if Borrower wishes to transfer, assign, sell or <br />convey real property or personal property assets from corpus of the Batarse Family <br />Trust, U.T.A. dated May 7, 1987, Anthony'PBatarse, Jr., trustee, such a transfer <br />shall be permitted so Ion� as the net value of the Batarse Family Trust, U.T.A. dated <br />May 7, 1987, AnthonyA. Batarse, Jr., trustee, trust corpus remains at a minimum of <br />Three Million Dollars ($3,000,000.), which minimum amount shall be based upon <br />an audited financial statement prepared by a certified public accountant. <br />NON -UNIFORM COVENANTS. Borrower and Lender further covenant and <br />agree as follows: <br />14. Acceleration: Remedies. Except as provided in paragraph 13 hereof, <br />upon Borrower's breach of any covenant or agreement of Borrower in this Deed of <br />Trust, including the covenants to pay when due any sums secured by this Deed of <br />Economic Development Agency Page 5 of 10 <br />Subordinate Deed of Trust <br />