Loan No: 5726994500
<br />201307242
<br />DEED OF TRUST
<br />(Continued) Page 11
<br />sections (i), (ii) and (iii) of this paragraph.
<br />C. Arbitrator Qualifications and Powers Any arbitration proceeding in which the amount in controversy is
<br />$5,000,000.00 or less will be decided by a single arbitrator selected according to the Rules, and who shall not render
<br />an award of greater than $5,000,000.00. Any Dispute in which the amount in controversy exceeds $5,000,000.00
<br />shall be decided by majority vote of a panel of three arbitrators; provided however, that all three arbitrators must
<br />actively participate in all hearings and deliberations. Every arbitrator shall be a neutral practicing attorney or a retired
<br />member of the state or federal judiciary, in either case with a minimum of ten years experience in the substantive law
<br />applicable to the subject matter of the Dispute. The arbitrator will determine whether or not an issue is arbitratable and
<br />will give effect to the statutes of limitation in determining any claim. In any arbitration proceeding the arbitrator will
<br />decide (by documents only or with a hearing at the arbitrator's discretion) any pre- hearing motions which are similar to
<br />motions to dismiss for failure to state a claim or motions for summary adjudication. The arbitrator shall resolve all
<br />Disputes in accordance with the applicable substantive law and may grant any remedy or relief that a court of such
<br />state could order or grant within the scope hereof and such ancillary relief as is necessary to make effective any award.
<br />The arbitrator shall also have the power to award recovery of all costs and fees, to impose sanctions and to take such
<br />other action as the arbitrator deems necessary to the same extent a judge could pursuant to the Federal Rules of Civil
<br />Procedure, the applicable state rules of civil procedure, or other applicable law. Judgment upon the award rendered by
<br />the arbitrator may be entered in any court having jurisdiction. The institution and maintenance of an action for judicial
<br />relief or pursuit of a provisional or ancillary remedy shall not constitute a waiver of the right of any party, including the
<br />plaintiff, to submit the controversy or claim to arbitration if any other party contests such action for judicial relief.
<br />D• Discovery, In any arbitration proceeding discovery will be permitted in accordance with the Rules. All discovery
<br />shall be expressly limited to matters directly relevant to the Dispute being arbitrated and must be completed no later
<br />than 20 days before the hearing date. Any requests for an extension of the discovery periods, or any discovery
<br />disputes, will be subject to final determination by the arbitrator upon a showing that the request for discovery is
<br />essential for the party's presentation and that no alternative means for obtaining information is available.
<br />F. Class Proceedings and Consolidations, No party hereto shall be entitled to join or consolidate disputes by or against
<br />others in any arbitration, except parties to this agreement, or any contract, instrument or document relating to this
<br />agreement, or to include in any arbitration any dispute as a representative or member of a class, or to act in any
<br />arbitration in the interest of the general public or in a private attorney general capacity.
<br />F. Small Claims Court. Any party may require that a Dispute be resolved in Small Claims Court if the Dispute and
<br />related claims are fully within that court's jurisdiction.
<br />G. State Specific Provisions;
<br />If Delaware. Pennsylvania or Virginia law governs the Dispute, the following provision is applicable if there is a
<br />Confession of Judgment in the Note, any Guaranty, or Related Documents: Confession of Judgment. Notwithstanding
<br />anything herein to the contrary, the arbitration requirement does not limit or prelude the right of Lender to confess
<br />judgment pursuant to a warrant of attorney provision set forth in the Note, any Guaranty, or Related Documents. No
<br />party shall have the right to demand binding arbitration of any claim, dispute or controversy seeking to (i) strike -off or
<br />open a judgment obtained by confession pursuant to a warrant of attorney contained in the Note, any Guaranty, or
<br />Related Documents, or (ii) challenge the waiver of a right to prior notice and a hearing before judgment is entered, or
<br />after judgment is entered, but before execution upon the judgment. Any claims, disputes or controversies challenging
<br />the confession of judgment shall be commenced and prosecuted in accordance with the procedures set forth, and in the
<br />forum specified by the applicable state rules of civil procedure or other applicable law.
<br />If Maryland law governs the Dispute, the following provision is applicable if there is a Confession of Judgment in
<br />the Note, any Guaranty, or Related Documents: Confession of Judgment. Notwithstanding anything herein to the
<br />contrary, the arbitration requirement does not limit or preclude the right of Lender to confess judgment, and no party
<br />shall have the right to demand binding arbitration of any claim, dispute or controversy seeking to open a judgment
<br />obtained by confession. Nothing herein, including the arbitration requirement, shall limit the right of any party to
<br />foreclose judicially or non - judicially against any real or personal property collateral, or exercise judicial or non - judicial
<br />power of sale rights. No provision regarding submission to a jurisdiction and /or venue in any court or the waiver of any
<br />right to trial by jury is intended or shall be construed to be in derogation of the provisions for arbitration of any dispute.
<br />Any claim or counterclaim or defense raised in connection with Lender's exercise of any rights set forth in the Note, any
<br />Guaranty, or Related Documents shall be subject to the arbitration requirement.
<br />If South Carolina law governs the Dispute, the following provision is included: WAIVER OF JURY TRIAL,
<br />NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, WITHOUT INTENDING IN ANY WAY TO LIMIT THE
<br />PARTIES' AGREEMENT TO ARBITRATE ANY DISPUTE AS SET FORTH IN THIS MORTGAGE, TO THE EXTENT ANY
<br />DISPUTE IS NOT SUBMITTED TO ARBITRATION OR IS DEEMED BY THE ARBITRATOR OR BY ANY COURT WITH
<br />JURISDICTION TO BE NOT ARBITRABLE OR NOT REQUIRED TO BE ARBITRATED, LENDER AND MORTGAGOR WAIVE
<br />TRIAL BY JURY IN RESPECT OF ANY SUCH DISPUTE AND ANY ACTION ON SUCH DISPUTE. THIS WAIVER IS
<br />KNOWINGLY, WILLINGLY AND VOLUNTARILY MADE BY LENDER AND MORTGAGOR, AND THEY HEREBY
<br />REPRESENT THAT NO REPRESENTATIONS OF FACT OR OPINION HAVE BEEN MADE BY ANY PERSON OR ENTITY TO
<br />INDUCE THIS WAIVER OF TRIAL BY JURY OR TO IN ANY WAY MODIFY OR NULLIFY ITS EFFECT. THIS PROVISION
<br />IS A MATERIAL INDUCEMENT FOR THE PARTIES ENTERING INTO THE LOAN DOCUMENTS. LENDER AND
<br />MORTGAGOR ARE EACH HEREBY AUTHORIZED TO FILE A COPY OF THIS SECTION IN ANY PROCEEDING AS
<br />
|