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09/04/2009 12:10 209-9562 CBSJ PAGE 10 �r(a <br /> i <br /> (a) Breach of Agreement.Failure of any 013LIGOR to perform any term or condition <br /> required of that OBLIGOR under the terms of this Agreement or the breach by <br /> any OBLIGOR of any covenant or provision of this Agreement. <br /> (b) Defective Collateralization. This Agreement or any of the Loan Documents ceases <br /> to be in full farce and effect,including the failure, at any time or for any reason., of <br /> the Deed of Trust to create a valid and perfected encumbrance on the Wizard <br /> Property and a valid and perfected security interest in the Personal.Property <br /> Collateral. <br /> (c) Receiver or Trustee. Any OBLIGOR shall make an assignment for the benefit of <br /> creditors, or apply for or consent to the appointment of a receiver or trustee for <br /> any of OBLIGOKs property or business. <br /> (d) Ranlauvtcv. Bankruptcy,insolvency,reorganization or liquidation proceedings or <br /> other proceedings for relief under any bankruptcy law or any law for the relief of <br /> debtors shall be instituted by or against any OBLIGOR. <br /> (e) Representation or Warranties. Any of the representations and warranties made <br /> herein proves to be materially false or misleading in any material respect. <br /> S. REMEDIES UPON DEFAULT.Upon the occurrence of any Forbearance Event <br /> of Default, or at any time thereafter, Lender may,without notice, terminate the Forbearance, and <br /> exercise any or all of the rights and remedies provided in the Loan Documents, or this <br /> Agreement. <br /> 9. No Joint Venture,Management or Control. Notwithstanding any provision of this <br /> Forbearance Agreement between the Parties hereto and/or of the loan documents: <br /> (a) LENDER is not,and shall not be construed to be,a partner,joint venturer, <br /> alter ego,manager, controlling person or other business associate or <br /> participant of any kind of BORROWER or of any person who may <br /> hereafter be deemed a surety with respect to this Forbearance Agreement <br /> or any of its Exhibits, or any other person; <br /> (b) LENDER shall not be deemed to have participated in any acts, omissions, <br /> or decisions of BORROWER nor shall LENDER have any obligation to <br /> any person who is not a party to this Forbearance Agreement(including <br /> but not limited to any putative third-party beneficiary)with respect to any <br /> acts of LENDER taken pursuant to this Forbearance Agreement, or any of <br /> its Exhibits; and <br /> (e) OBLIGORS HAVE no claims, causes of action or defenses to their <br /> respective obligations to LENDER based on any allegations of <br /> management or control exercised by LENDER with respect to <br /> BORROWER or any operation of BORROWER_ <br /> Page 9 of 23 <br />