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201305319
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Last modified
8/19/2014 2:23:28 PM
Creation date
7/2/2013 4:44:32 PM
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DEEDS
Inst Number
201305319
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201305319 <br />secured hereby has been paid in full, or until the Property is sold hereunder. In the event the <br />secured indebtedness is owned by more than one person or entity, the holder or holders of not <br />less than a majority in the amount of such indebtedness shall have the right and authority to <br />make the appointment of a successor or substitute trustee as provided for in the preceding <br />sentence or to remove Trustee as provided in the first sentence of this section. Such appointment <br />and designation by Administrative Agent, or by the holder or holders of not less than a majority <br />of the indebtedness secured hereby, shall be full evidence of the right and authority to make the <br />same and of all facts therein recited. If Administrative Agent is a corporation or other business <br />entity and such appointment is executed in its behalf by an officer of such corporation or other <br />business entity, such appointment shall be conclusively presumed to be executed with authority <br />and shall be valid and sufficient without proof of any action by the board of directors or any <br />superior officer of the corporation or other business entity. Administrative Agent may act <br />through an agent or attorney -in -fact in substituting trustees. Upon the making of any such <br />appointment and designation, all of the estate and title of Trustee in the Deed of Trust Mortgaged <br />Properties shall vest in the named successor or substitute Trustee and such successor or substitute <br />shall thereupon succeed to, and shall hold, possess and execute, all the rights, powers, privileges, <br />immunities and duties herein conferred upon Trustee; but nevertheless, upon the written request <br />of Administrative Agent or of the successor or substitute Trustee, the Trustee ceasing to act shall <br />execute and deliver an instrument transferring to such successor or substitute Trustee all of the <br />estate and title in the Deed of Trust Mortgaged Properties of the Trustee so ceasing to act, <br />together with all the rights, powers, privileges, immunities and duties herein conferred upon the <br />Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said <br />Trustee hereunder to said successor or substitute Trustee. All references herein to Trustee shall <br />be deemed to refer to Trustee (including any successor or substitute appointed and designated as <br />herein provided) from time to time acting hereunder. <br />Section 5.14. No Liability for Trustee. NOTWITHSTANDING ANY OTHER <br />PROVISION OF THIS MORTGAGE, THE TRUSTEE SHALL NOT BE LIABLE FOR ANY <br />ERROR OF JUDGMENT OR ACT DONE BY TRUSTEE IN GOOD FAITH, OR BE <br />OTHERWISE RESPONSIBLE OR ACCOUNTABLE UNDER ANY CIRCUMSTANCES <br />WHATSOEVER (INCLUDING, WITHOUT LIMITATION, THE TRUSTEE'S <br />NEGLIGENCE), , EXCEPT FOR TRUSTEE'S GROSS NEGLIGENCE OR WILLFUL <br />MISCONDUCT. The Trustee shall have the right to rely on any instrument, document or <br />signature authorizing or supporting any action taken or proposed to be taken by the Trustee <br />hereunder, believed by the Trustee in good faith to be genuine. All moneys received by Trustee <br />shall, until used or applied as herein provided, be held in trust for the purposes for which they <br />were received, but need not be segregated in any manner from any other moneys (except to the <br />extent required under any Requirement of Law), and Trustee shall be under no liability for <br />interest on any moneys received by him hereunder. Mortgagor hereby ratifies and confirms any <br />and all acts which the herein named Trustee or its successor or successors, substitute or <br />substitutes, shall do lawfully by virtue hereof. Mortgagor will reimburse Trustee for, and <br />indemnify and save Trustee harmless against, any and all liability and expenses (including <br />attorneys fees) which may be incurred by Trustee in the performance of his duties. The <br />foregoing indemnities shall not terminate upon the release, foreclosure or other termination of <br />this Mortgage but will survive such release, termination and/or foreclosure of this Mortgage, or <br />conveyance in lieu of foreclosure, and the repayment of the secured indebtedness and the <br />discharge and release of this Mortgage and the other documents evidencing and/or securing the <br />50 <br />
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