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gx11~90~G1~~2 <br /> desires to foreclose said loan for non-payment thereof or to accept <br /> an assignment of this lease in lieu of such foreclosure, then <br /> and in that event the rights of the parties shall be as follows: <br /> 1. The LESSOR shall have the right and option to cure the default <br /> and take possession subject to the obligations of the note and <br /> deed of trust which is in default and substitute itself in place <br /> and instead of the LESSEE as to such loan and deed of trust. Such <br /> option shall expire upon the sale of the leasehold estate at public <br /> or private sale or pursuant to a sale upon order of a court of <br /> competent jurisdiction. <br /> 2. The LESSOR shall have the right and option to substitute a <br /> new LESSEE and borrower in place of the LESSEE; provided that there <br /> is paid to the lender the amount as follows: the installments <br /> then due and delinquent, accrued interest, foreclosure costs and <br /> a reasonable attorney's fees, and, provided further, that the fi- <br /> nancial condition of the new lessee is approved by the lender, <br /> which approval shall not be unreasonably withheld. Such right <br /> and option shall commence upon the recording of a notice of default <br /> under the note and deed of trust and shall expire upon the sale <br /> of the leasehold estate at public or private sale or pursuant to <br /> a sale upon order of a court of competent jurisdiction. <br /> 3. The LESSOR shall be entitled to bid in at any foreclosure sale. <br /> 4. In the event the lender acquires the leasehold estate by <br /> foreclosure or by assignment in lieu of foreclosure, the lender <br /> shall have the right to further assign and sell such leasehold <br /> interest to third parties. The LESSOR shall and does hereby give <br /> <br /> its consent to such assignment, provided, however, that the LESSOR <br /> 3 <br /> <br />