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��15�� 4.'I 7 Subro_�ac� tion. Beneficiary sha[I be subrogated to the lien af al� �ncumbrances, wheth�r ar n�t release� of record, paid in whole or in part by Beneficiary pursuant tv th�s Deed of Trust or by the proceeds of any Secu�ed �bligation. 4.�8 Trustor Different Fram Qbli or "Third Part Trustor" . As used in this Sectivn, the term "��l�gor"shal� mean each person ar entity vbligated in any manner under any of the Secured �b��gations; and the term "Third Party Trustor"shall mean �'I}each pers�n or entity inc�uded in #he defini#ian of Trustar herein and which is not an �bl�gor unde�a�� of the 5ecured �bligat�ons, and ��}each person or entity included in the definition of Trustor her�in if any�bl�gor�s nofi inc�uded in said defini�ian. �a} Represen#at�ons and Warran#ies. Each Third Party Trustor r�presents and warrants to Beneficiary that: �i}this Deed of Trust is executed at an �b��gor's request; �ii}th�s Deed af Trusti�omplies with all agreemenfis between each Third Party Trustar and any��ligar regarding such Third Party Trustor's execu�ivn hereof; �iii} Beneficiary has mad� no representation to any Third Pa�#y Trustor as to #he creditworthiness of any�bligar; and ��}each Third Parfy Trustor has established adequate means�f obtaining from each Obligor on a con�inuing �asis financial and other infvrmativn pertaining to such ��ligor's financial condition. Each Third Par�y Trusto�agrees#o �eep adequately infvrmed from such means vf any facts, e�ents ar circumstances wh�ch might in any way affect such Third Party Trustor's r�sks hereund�r. Each Third Par�y Trustar further agrees that Beneficiary shall ha�e na obliga�ion to disclnse to any Third F'arty Trustar any information ar material about any�bl�gor vtirhich is acquired by Benefic�ary in any manner. The liability of�ach Third Party Trustor hereunder shall be reinstated and re�i�ed, and the rights of Beneficiary shall con��nue if and to the ex#ent that for any reasan any amount at any time paid on account vf any Secured �bligafion is �esc�nded or must atherwise be restored by Benef�ciary, ►�vhether as a resuEf of any proceedings �n hankruptcy or reorganizatian or otherwise, all as though such amount had not been paid. The determination as to whether any amount so paid must be rescinded or restared shall be made hy Ben�ficiary in its sole discretion; pro�ided howe�er, that if Beneficiary chooses ta contest any such matter at the request of any Third Party Trustor, each Third Party Trustor agrees to indemnify and hold Beneficiary harmless fr�m and against al� costs and expenses, including reasonabl�attorneys'fees, expended or incurred by Beneficiary in conn�c#ion therewith, including without limitation, in any litigation with respect thereto. �b} Wai�ers. . �i} Each Third Party Trustor vvaives any right�v require Beneficiary ta: �A} prviceed against any�bl�gor o�any other person; �B} marshal asse#s or proceed against or exhaus�any secur�ty held frvm any Dbligar or any other person; �C}give notice af the terms, #ime and place af any pubfic ar pri�at�sale ar o�her d�spositi�n of personal properfy secur�ty held from any�bfigor or any�th�r pe�son; �D}take any other action or pursue any other remedy in Beneficiary's power; ar�E}make any presentment or demand far performance, or gi�e any notice of nonperfarman�e, prvtes#, notice of protes� or natice of dishonor hereunder vr in cannection with any vbiigatians vr e�id�nces of indebtedness held by Beneficiary as security for o�wh�ch canstitu�e in who�e or in part the Secured �bligations, or in connect�vn w�th the creation of new vr additional ob�igatians. �ii} Each Third Party Trustor wai��s any defense to its�bligations hereunder based upon �r arising by reason vf: �A}any disabil�ty or ofher defense of any�bligor�r any o#her person; �B}th� Gessation or limita#ion from any cause whatsoe�er, other than payment in full, of any S�cured �bliga#ion; �C}any lack nf authority of any�ff�cer, directar, partner, agent ar any other pers�n acting vr purporting�o act an behalf of any�bligor which is a corporafion, partnership or other#yp��f en#ity, vr any defect in the formatian of any such �bl�gor; �D}the application �y any�bligor of the praceeds of any Secured �bligation for purpvses ofher than the purposes represented by any�bligvr to, or intended or unders#oad by, Beneficiary�r any Third Party Trustor; �E}any act or amissian by B�neficiary which directly ar �ndir�ctly results in or aids th�discharge vf any�bligor or any portivn af any 5ecured �bligation by _��_ � n�� :�fi„�,��: �r��,R� ,��:� ��