Deed - 1302-1314 Marina Blvd & 2001-2085 Wayne Ave - File 1308, 1996

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r"' ^97416 discontinued at any time prior to five days before sale of the Property pursuant to the power of sale contained in this Deed of Trust or at any time prior to entry of a judgment enforcing this Deed of Trust if: (a) Borrower pays Lender all sums which would be then due under this Deed of Trust if the Note had no acceleration provision; (b) Borrower cures all breaches of any other covenants or agreements of Borrower contained in this Deed of Trust; (c) Borrower pays all reasonable expenses incurred by Lender and Trustee in enforcing the covenants and agreements of Borrower contained in this Deed of Trust, and in enforcing Lender's and Trustee's remedies as provided herein, including, but not limited to, reasonable attorney's fees; and (d) Borrower takes such action as Lender may reasonably require to assure that the lien of this Deed of Trust, Lender's interest in the Property and Borrower's obligation to pay the sums secured by this Deed of Trust shall continue unimpaired. Upon such payment and cure by Borrower, this Deed of Trust and the obligations secured hereby shall remain in full force and effect as if no acceleration had occurred. 16. Assignment of Rents: Appointment of Receiver: Lender in Possession. As additional security hereunder, Borrower hereby absolutely assigns to Lender the rents of the Property, provided that Borrower shall, prior to default hereunder or abandonment of the Property, have a revocable license to collect and retain such rents as they become due and payable. Upon default hereunder or abandonment of the Property, Borrower's license to collect and retain rents shall immediately be revoked without the necessity of notice, and Lender, in person, by agent or by judicially appointed receiver shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. All rents collected by Lender or the receiver shall be applied first to premiums on receiver's bonds expenses and fees are approved by the Court, and reasonable attorney's fees, and then to the sums secured by this Deed of Trust. Lender and the receiver shall be liable to account only for those rents actually received. 17. Subordination. Lender and Borrower acknowledge and agree that this Deed of Trust is subject and subordinate in all respects to the liens, terms, covenants and conditions of the that certain Deed of Trust, Assignment of rents and Security Agreement (the "Senior Deed of Trust") recorded March 13, 1986, as Instrument No. 86-059690 in the official records of Alameda County, securing a promissory note to First Nationwide Bank, the remaining principal balance of which is, as of this date, in the amount of One Million Two Hundred Five Thousand Four Hundred and Sixty Nine Dollars and Ninety -Eight Cents ($1,205,469.98.). This Senior Deed of Trust is Economic Development Agency Page 7 of 10 Subordinate Deed of Trust