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expenses incurred by it in connection with any such settlement or adjustment. All or any part of the amounts so collected and recovered by the Agency may be released to Borrower upon such conditions as the Agency may impose for its disposition. Application of all or any part of the amounts collected and received by the Agency or the release thereof shall not cure or waive any default under this Deed of Trust. 5.2 Sales and Encumbrances Prohibited. Borrower shall not make any sale, assignment or conveyance, or transfer in any other form, nor any further pledge, encumbrance or mortgaging, of the Property, or any part thereof or of any of its interest therein, without the prior written consent of the Beneficiary. In the event that the Property becomes encumbered by mortgage(s) or deed(s) of trust other than this Deed of Trust, then a default under such other mortgage(s) or deed(s) of trust shall constitute a default under this Deed of Trust. 5.3 Sale or Forebearance. No sale of the Property, forebearances on the part of the Agency or extension of the time for payment of the indebtedness hereby secured shall operate to release, discharge, waive, modify, change or affect the liability of Borrower either in whole or in part. 5.4 Late Payment. The Agency's acceptance of late payment of any sum shall not constitute a waiver of it; to require prompt payment when due of all other indebtedness, or to declare a default for any failure so to pay, or to proceed with foreclosure or sale for any other default then existing. The Agency's acceptance of partial payment of any sum after default shall not cure such default or affect any notice of default unless such notice of default is expressly revoked in writing by the Agency. 5.5 The Agency's Rights to Release. Without affecting the liability of any person for payment of any indebtedness hereby secured (other than any person released pursuant hereto), including without limitation any one or more endorsers or guarantors, and without affecting the lien hereof upon any of the Property not released pursuant hereto, at any time and from time to time without notice: (a) The Agency may, at its sole discretion, (i) release any person now or hereafter liable for payment of any or all such indebtedness, (ii) extend the time for or agree to alter the terms of payment of any or all of such indebtedness, and (iii) release or accept additional security for such indebtedness, or subordinate the lien or charge hereof; and (b) Trustee, acting pursuant to the written request of the Agency, may reconvey all or any part of the Property, consent to the CHFA 52P 6/1/88 V01642 -7-