201400400 - Laserfiche WebLink

Browse

-71 - 201400400 63. Lender as Trustee. Notwithstanding anything contained herein, it is expressly understood that Lender is acting as a trustee on behalf of certain investor beneficiaries, and whenever any consent, approval or other action of the Lender is contemplated hereby, Lender may act in accordance with the instructions of the appropriate percentage of such beneficiaries or otherwise in accordance with the terms and provisions of the documents creating and relative to the administration of the trust created by the Declaration and not on its own discretion. Notwithstanding the foregoing, Lender may, in its discretion, without instructions from such beneficiaries, consent to minor modifications of the Loan Documents in order to (a) correct scrivener's or other manifest errors therein or (b) correct the legal description attached to the recorded Loan Documents, to the extent Lender deems such correction reasonably necessary to accurately reflect the Mortgaged Property. 64. [INTENTIONALLY OMITTED] 65. WAIVER OF JURY TRIAL. BORROWER AND LENDER EACH HEREBY AGREES NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVES ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THE NOTE, THIS SECURITY INSTRUMENT, OR THE OTHER LOAN DOCUMENTS, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN CONNECTION THEREWITH. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY LENDER AND BORROWER AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE, BORROWER AND LENDER ARE EACH HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER BY BORROWER OR LENDER. 66. Notice of Bankruptcy Filing Borrower shall promptly after obtaining knowledge thereof, notify Lender orally of any filing by or against the Borrower of a petition under the Bankruptcy Code. Borrower shall thereafter forthwith deliver written notice of such filing to Lender, setting forth any information available to Borrower with respect to such bankruptcy filing as of the date of such filing, the court in which such petition was filed, and the relief sought therein. Upon its receipt thereof, Borrower shall promptly deliver to Lender any and all notices, summonses, pleadings, applications and other documents received by Borrower in connection with any such petition and any proceedings relating thereto. 67. STATE - SPECIFIC PROVISIONS. To the extent of any conflict between the terms and provisions of this paragraph 67 and the terms and provisions otherwise contained in this Security Instrument, the terms and provisions of this paragraph 67 shall govern and control the rights and obligations of the parties. The terms and provisions of this paragraph 67 shall only be operative to the extent that the Mortgaged Property is located within the state specified in the headings set forth below.