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11/30/66 11:33 i34U2 JAB 1146 hl Al I:0 (A entitled to exercise rights and remedies pursuant to the Deed of Trust. All capitalized terms used herein shall have the same meaning as in this Deed of Trust, unless otherwise defined. (b) Rights of Parties as Active Lender. (i) Notwithstanding any other provision of this Deed of Trust to the contrary and except as otherwise provided in this Section, the Agency shall be the Active Lender and as such shall be entitled and empowered to enforce the provisions of this Deed of Trust and the Promissory Note unilaterally without notice to or the consent of MBIA, and for so long as the Agency shall be the Active Lender, MBIA shall not be entitled to enforce the provisions of this Deed of Trust and the Promissory Note without the prior written consent of the Agency (so long as the Agency has any interest secured thereby). (ii) MBIA shall become the Active Lender only at such time as (A) any Event of Default occurs pursuant to this Deed of Trust and, as a consequence of such default, MBIA duly makes a payment pursuant to its policy of insurance for the bonds (the "Bonds ") issued to finance the loan to the Borrower (the "Policy "), (B) MBIA shall have made full payment under the Policy in such amounts so that sufficient funds have been paid to the Co- Trustee for the Bonds or the Holders of the Bonds such that such Bonds are defeased as set forth in Section 1201 of the Indenture securing the Bonds, (C) the Co- Trustee shall have made a charge upon the Bond Reserve Account pursuant to Section 507 of the Indenture and the amount so charged shall not have been credited to the Bond Reserve Account within six (6) months of the date of such charge or (D) the funds on deposit in the Bond Reserve Account are insufficient to meet the next payment of principal and interest due on the Bonds. At such time as MBIA so becomes the Active Lender, MBIA shall be entitled to enforce this Deed of Trust and the Promissory Note unilaterally without notice to or the consent of the Agency and the rights of the Agency hereunder shall be null and void ab initio (except with respect to the rights described in the remainder of this paragraph 2(b), which rights shall survive); provided, however, that nothing herein shall affect the ability of the Agency to enforce all its rights and remedies pursuant to the Regulatory Agreement; and provided, however, that upon the consent of MBIA, the Agency may become the Active Lender again and as such shall have all of its rights hereunder. 61771 -2- �, .) i UUU