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201400400
<br />( "Deed of Trust Trustee "), for the benefit of WELLS FARGO BANK NORTHWEST,
<br />NATIONAL ASSOCIATION, as trustee pursuant to the Declaration of Trust dated as of October
<br />10, 2013, having its principal place of business at 260 North Charles Lindbergh Drive, MAC:
<br />U1240 -026, Salt Lake City, UT 84116 ( "Lender" or `Beneficiary").
<br />2. The Default Rate as used in the Loan Documents is the lesser of (a) the "applicable
<br />formula rate" prescribed pursuant to Tennessee Code Annotated Section 47 -14 -102 or (b) a rate
<br />equal to five percent (5 %) over the Applicable Interest Rate. The terms of this Addendum shall
<br />supersede any conflicting provisions of the Note.
<br />3. Tennessee Modifications. Notwithstanding anything to the contrary contained in this
<br />Security Instrument, the following provisions apply only to Mortgaged Property located in
<br />Tennessee.
<br />(a) Notwithstanding anything to the contrary contained in this Security Instrument, to the
<br />fullest extent permitted by applicable legal requirements, Borrower waives the benefit of all laws
<br />now existing or that hereafter may be enacted providing for (i) an appraisement before sale of
<br />any portion of the Mortgaged Property, and (ii) in any way extending the time for the
<br />enforcement of the collection under the Note, the debt evidenced thereby or any other
<br />indebtedness secured hereby or creating or extending a period of redemption from any sale made
<br />in collecting any of such indebtedness. To the full extent Borrower may do so, Borrower agrees
<br />that Borrower will not at any time insist upon, plead, claim or take the benefit or advantage of
<br />any law now or hereafter in force providing that any appraisement, valuation, stay, extension or
<br />redemption, and Borrower for Borrower, Borrower's heirs, devisees, representatives, successors
<br />and assigns, and for any and all persons ever claiming any interest in the Mortgaged Property, to
<br />the extent permitted by law, hereby waives and releases all rights of redemption, including the
<br />statutory right of redemption under T.C.A. Section 66 -8 -101, et seg., the equity of redemption,
<br />homestead, dower, valuation, appraisement, stay of execution, notice of election to mature or
<br />declare due the whole of the secured indebtedness, and marshalling in the event of foreclosure of
<br />the liens hereby created. If any law referred to in this paragraph and now in force, of which
<br />Borrower, Borrower's heirs, devisees, representatives, successors and assigns or other persons
<br />might take advantage despite this paragraph, shall hereafter be repealed or cease to be in force,
<br />such law shall not thereafter be deemed to preclude the application of this paragraph. Borrower
<br />expressly waives and relinquishes any and all rights and remedies which Borrower may
<br />have or be able to assert by reason of the laws of the State of Tennessee pertaining to the
<br />rights and remedies of sureties.
<br />(b) Notwithstanding anything to the contrary contained in this Security Instrument, upon
<br />receipt of Lender's request so to do after the occurrence and during the continuance of an Event
<br />of Default, the Deed of Trust Trustee shall proceed to sell the Mortgaged Property, by causing to
<br />be published a notice of sale as then required by law. The Deed of Trust Trustee shall, without
<br />demand on Borrower, after publication of notice of sale having been made as required by law,
<br />sell the Mortgaged Property at the time and place of sale fixed by it in said notice of sale, either
<br />as a whole, or in separate lots or parcels or items as the Deed of Trust Trustee shall deem
<br />expedient, and in such order as the Deed of Trust Trustee may determine, at public auction to the
<br />highest bidder for cash, in lawful money of the United States, payable at the time of sale.
<br />- 134 -
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