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201309259
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201309259
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Last modified
1/1/2014 12:08:38 AM
Creation date
11/25/2013 8:40:19 AM
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DEEDS
Inst Number
201309259
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201309259 <br /> 3.2 Notice to Junior Lien Claimants. The Existing Deed of Trust provided, <br /> and gave full record notice to all potential Junior Lien Claimants, that the Existing Deed of Trust <br /> was intended to secure the Obligations arising not only under the Existing Credit Agreement, but <br /> also under any amendments, restatements, supplements, waivers, refinancing or other <br /> modifications of the Existing Credit Agreement. Any of the foregoing may potentially result in a <br /> Change to the Obligations, whether or not: (a) any notice is recorded with respect to such <br /> Change; (b) such Change increases the principal amount (subject to any express limitations <br /> thereon set forth in the Existing Deed of Trust) or the interest rate or otherwise adversely affects <br /> Junior Lien Claimants; or(c) Grantor executes or delivers new or additional note(s)to evidence <br /> or confirm such Change. All actual and potential Junior Lien Claimants are hereby placed on <br /> notice that the Obligations are subject to Change(s). The execution and delivery of this Deed of <br /> Trust Amendment, or of any subsequent or prior (if any) amendment of the Existing Deed of <br /> Trust, shall not impair, reduce or subordinate, in whole or in part, the priority of the Existing <br /> Deed of Trust. Further, by taking or accepting its interest in the Mortgaged Property (as defined <br /> in the Existing Deed of Trust) subject to the Existing Deed of Trust, each Junior Lien Claimant <br /> understands and acknowledges that the priority and validity of the lien of the Existing Deed of <br /> Trust shall not be impaired or limited in any way by any Change. Notwithstanding the <br /> magnitude or nature of any Change, such Change shall under no circumstances be deemed to <br /> constitute a novation with respect to any Obligation, or otherwise impair or reduce the priority of <br /> the lien of the Existing Deed of Trust. <br /> 4. Amendments. <br /> The parties hereby give notice that (i) the Borrower, the lenders party thereto, <br /> JPMorgan Chase Bank, NSA., as administrative agent, and the other parties thereto, have entered <br /> into the Amendments and (ii) the Obligations under the Amendments are secured by the lien of <br /> the Existing Deed of Trust, as modified and amended by this Deed of Trust Amendment. <br /> 5. Future Amendments. <br /> The Existing Deed of Trust cannot be further altered, amended, modified, <br /> terminated, waived, released, or discharged, except in accordance with the provisions of the <br /> Existing Deed of Trust. Any amendment of the Loan,Documents or of the Obligations may or <br /> may not be recorded. Any such amendment shall be fully effective whether or not recorded, <br /> without thereby impairing or reducing the priority of the lien of the Existing Deed of Trust or <br /> constituting a novation. <br /> 6. GOVERNING LA W. <br /> THIS DEED OF TRUST AMENDMENT SHALL BE CONSTRUED, <br /> INTERPRETED AND GOVERNED IN ACCORDANCE WITH SECTION 9.9 OF THE <br /> EXISTING DEED OF TRUST. <br /> 7, Counterparts. <br /> This Deed of Trust Amendment may be executed in any number of counterparts <br /> and by different parties hereto in separate counterparts, each of which when so executed and <br /> 509265-1598-03097-Active.14924291.2 <br />
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