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09/04/2009 12:10 209-955_2 CBSJ • PAGE 09 �r(a which they release herein, and that they have not heretofore assigned or transferred,or purported to assign or transfer,to any person, firm, or entity any claims or other matters herein released. 6- Covenants by OBLIGORS, In consideration of the Forbearance and the other covenants and agreements set forth herein, each of OBLIGORS hereby covenants and agrees as follows.Each of OBLIGORS understands and agrees that the breach of any of the following covenants shall represent an Event of Default under the Forbearance Agreement, and under the loan documents referred to in the Recitals(some of which are attached as Exhibits A through F to this Forbearance Agreement). (a) Agreement to Exercise Best Efforts to Sell-the Wizard Property.BORROWER agrees to actively and diligently pursue the sale of the Wizard Property. BOROWER presently has the Wizard Property listed for sale with R.T.Yee and Associates the("Listing Broker")for a listing price of$775,000.00 (the "Listing Price"). Unless otherwise agreed to by Lender in writing,BORROWER will continue to list the Wizard Property for sale,with a licensed real estate broker acceptable to Lender, from the date of this Agreement(the"Effective Date'l through the Forbearance Termination Date(the "Farbearaace Period"). BORROWER agrees to provide Lender with copies of all written offers to purchase the Wizard Property,when and as made, and to discuss all such written offers with Lender prior to the acceptance or rejection of any offer. BORROWER agrees to accept any offer for the sale of the Wizard Property for a purchase price of$675,000.00 or greater. Without the written approval of Lender,BORROWER shall not accept any offer for purchase of the Wizard Property that will not be sufficient to pay the Loan Indebtedness in full ,.from the cash proceeds of such sale. (c) Agreement to Provide Recordable Deed in Lieu of Foreclosure No Later than the Forbearance Termination Date. Each of OBLIGORS bemby covenants and agrees that, unless: (a) all obligations to LENDER referred to in the above Recitals shall have been paid in M by the Forbearance Termination Date (as defined in. Paragraph 2 above), OR(b)unless,prior to the Forbearance Termination Date, the Wizard Property has been sold by said date by a sale to which LENDER has consented in writing, then., on or before the Forbearance Termination Date, OBLIGORS shall execute and deliver to LENDER the a deed in lieu of Foreclosure complying to the provisions of Exhibit G to this Forbearance Agreement. LENDER shall have the right to accept delivery of said deed and lieu of foreclosure, and to record said instrument, at any date on or after the Forbearance Termination Date. 7. Forbearance Events of Default.LENDER, at LENDER's option,may terminate the forbearance, and may thereupon exercise any of Lender's rights and remedies, and/or LENDER may, at its discretion,record the deed in.lieu of foreclosure described in Exhibit G to this Forbearance Agreement upon the occurrence of any of the following events (individually, a "Forbearance Event of Default" and collectively,the"Forbearance Events of Default"): Page 8 of 23