thereafter until paid in full. The interest of the Selling Partner shall immediately vest in the purchaser upon delivery of notice of exercise of the option to purchase thereunder. Except
in the case of a sale following the occurrence of an Event of Default (in which case the defaulting Partner shall pay the entire appraisal fee), the Selling and Remaining Partners shall
each pay one-half (1/2) the costs of the appraisal, and the Selling Partner shall immediately execute and deliver to the Remaining Partner a statutory warranty deed in a form sufficient to convey all of the Selling Partner's Interest, including all interest in the Property and all other Property owned by the Joint Venture, to the Remaining Partner. To evidence and secure the obligation of the Remaining Partner to pay the balance of the purchase price, the Remaining Partner shall execute a promissory note and deed of trust (with reasonable release provisions) in
substantially the form of Exhibits A and B attached with respect to the Selling Partner's Interest. In the case of a sale pursuant to an Event of Default, this option to purchase shall be in addition to and not in substitution for any right afforded by law such as damages and other relief not inconsistent therewith; and in the event of any inconsistency between remedies provided by law and under this Agreement, the Partner not having breached this Agreement shall have the option to elect among any such rights and remedies. In the event the Remaining Partner declines
to purchase the Selling Partner's Interest, the Remaining Partner may elect to have the Joint Venture dissolved and terminated pursuant to Sections 5.1 and 5.2.