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Beneficiary's option, upon notice to Trustor, may make such appearances, disburse such sums and
<br />take such action as it determines necessary to protect the Beneficiary's interest, including, but not
<br />limited to, disbursement of reasonable attorneys' fees and entry upon the Security to make repairs.
<br />Any amounts disbursed by the Beneficiary pursuant to this paragraph, with interest thereon,
<br />will become an indebtedness of Trustor secured by this Deed of Trust. Unless Trustor and the
<br />Beneficiary agree to other terms of payment, such amount will be payable upon notice from the
<br />Beneficiary to Trustor requesting payment thereof, and will bear interest from the date of
<br />disbursement at the rate payable from time to time on outstanding principal under the Agency
<br />Promissory Note, unless payment of interest at such rate would be contrary to applicable law, in
<br />which event such amounts will bear interest at the highest rate permissible under applicable law.
<br />Nothing contained in this paragraph will require the Beneficiary to insure any expense or take any
<br />action hereunder.
<br />9. Inspection. The Beneficiary may make, or cause to be made, reasonable entries
<br />upon and inspections of the Security upon reasonable prior notice during normal business hours;
<br />provided that, the Beneficiary will give Trustor reasonable notice of inspection.
<br />10. Forbearance by the Beneficiary Not a Waiver. Any forbearance by the Beneficiary
<br />in exercising any right or remedy will not be a waiver of the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes or other liens or charges by the Beneficiary
<br />will not be a waiver of the Beneficiary's right to accelerate the maturity of the indebtedness secured
<br />by this Deed of Trust.
<br />11. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and
<br />cumulative to any other right or remedy under this Deed of Trust, or any other document, or
<br />afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />12. Successors and Assigns Bound. The covenants and agreements herein contained
<br />shall bind, and the rights hereunder shall inure to, the respective successors and assigns of the
<br />Beneficiary and Trustor subject to the provisions of this Deed of Trust.
<br />13. Joint and Several Liability. All covenants and agreements of Trustor shall be joint
<br />and several.
<br />14. Notice. Except for any notice required rider applicable law to be given in another
<br />manner: (a) any notice to Trustor provided for in this Agency Deed of Trust will be given by
<br />certified mail, return receipt requested, addressed to Trustor at 3416 Via Oporto, Suite 301,
<br />Newport Beach, CA 92663 with a copy to R4 Capital LLC at 780 Third Avenue, 161 Floor, New
<br />York, New York 10017, Attention: Marc Schnitzer, and to Frost Brown Todd LLC at 400 West
<br />Market Street, Suite 3200, Louisville, Kentucky 40202, Attention: Amy Curry, Esq.; (b) any notice
<br />to the Beneficiary will be given by certified mail, return receipt requested, to the Beneficiary at 20
<br />Civic Center Plaza, P.O. Box 1988, Santa Ana, California 92702, Attention: Housing Division
<br />Manager, or at such other address as the Beneficiary may designate by notice to Trustor as provided
<br />above; and, (c) to Trustee at 888 S. Figueroa Street, Suite 2100, Los Angeles, CA 90017. Notice
<br />shall be effective as of the date received as shown on the return receipt.
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<br />80A-164
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