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201504583
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Last modified
7/21/2017 2:56:54 AM
Creation date
7/8/2015 12:11:14 PM
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DEEDS
Inst Number
201504583
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��15�4583 <br /> Sectian 15.7. LIMITATI�N 4N LENDER'S RESPDNSIBILITY. N� provis�on of this Security <br /> Instrument sha�l operate to place any ob�igat�on ar liability for th� cantrol, care, mana�ement or <br /> repa�r of the Property upon Lender, n�r sha11 �t operate i.o rnal�e Lender resp�nsrb�e or lial�le for <br /> any wast� ��mmitted on the Propert�by the tenants ar any other Persan, or for an� �langerous or <br /> defecti�re canditian of the Propert�, or far an� negligence in the management, upkeep, re�air ar <br /> c�ntrol of the Proper�y resulting in lnss ar injury ar death to any tenant, ��censee, employee or <br /> stranger. l�athing herein contained shall be canstrued as c�nstitut�ng Lender a "martgagee �n <br /> �assession." <br /> Article 16 — DEED�F TRUST PR�VISI�NS <br /> Section 16.1. �a1�CER1�I]�G THE TRUSTEE. Trustee shall be under no duty ta tal�e any <br /> action hereunder except as express�y requirec�hereunder or by �aw, or t� perf�rrn any act which <br /> �ould invalve Truste� in any ea�pens� �r liability or ta i nstitute or defend any suit in respect <br /> hereaf, unless properly indemnified to Trustee's reasanable sata�sfaction. Trustee, by acceptance <br /> of this Security .Instrument, covenants to perf�rm and fulfill the trusts herein created, being <br /> liabl�, howev�r, only for gross negligence or �villful misconduct, and hereby waives any <br /> statutary fee and agrees t� accept reasonab�e c�mpensatian, in lieu thereaf, for any servi�es <br /> rendered by Trustee in accardanc� with the terms hereof. Truste� may resigr� at an� t�me upon <br /> giv�ng thirty �30} days' notice ta Barrower and to Lender. Lender may remo�e Trustee at any <br /> time or from time to time and s�leGt a successar trustee. In th� event �f the death, removal, <br /> resignation, refusal t� act, ar inabilit� to ac� of Trustee, or i n its sole discretion f�r ax�y reason <br /> whats�ever Lender may, withaut notice and w�thout specifying any reason therefor and �vithout <br /> applying to any court, select and appoxnt a successor truste�,by an instrument recarded wherev�r <br /> this Security Instrument is recQrded and a�l powers, rights, duties and authority of Trustee, as <br /> aforesaid, shall ther�upon become vested in such success�r. Such subst�tute trustee shal� nat be <br /> required to give bond for th� faithful perfarmance of the dut�es of Trustee hereunder unless <br /> requ�red by Lender. The proeedure provided f�r �n this paragraph for substitutian af Trustee <br /> shall be i.n addition to and not in exclusion of any �ther pravisions far substxtutxan, by 1aw or <br /> �ther�vi se. <br /> Se�tinn 1G.2. TRUSTEE's FEES. Borrower shal� pay all reasonable casts, fees and <br /> expenses incurr�d by Trustee and Trustee's agents and couns�l �n connection with the <br /> performance by Trustee of Trustee's duties h�reunder and all su�h GQ�ts, fees and expenses sha11 <br /> be se�ured by this S�curity Instrument. Nat�vithstand�.ng anything to the contrary contaii�ed <br /> hereir�or in an� other Loan I�ocuments, Trustee hereby acknowledges and agrees that no fees �r <br /> other compen�ation shal� be payabie to Trustee hereunder or othervvise in connecti�n with the <br /> Loan ar Laan Da�uments e�cept �n connecti�n with �a} a sale af the Prap�rty in connectian w�th <br /> an e�ercis� of remedi�s hereunder andlor under the other Loan I�ocuments or�b} a r��ease hereaf <br /> in accordance vvith the app�icable terms and conditions hereof. � <br /> Section 1 G.3. CERTAIN RIC�HTS. �Vith the approval of Lender, Trustee shall have the <br /> right to tal�e any and all af the follovving acti�ns: (�} to se�ect, employ, and advise with c�unsel <br /> �vvho ma�b�, but need not�e, counse�for Lender�upon any matters arising hereunder, in�luding <br /> the preparatian, exe�ution, and interpretati�n of the Note, this Se�urit� Instrument or the �ther <br /> S�CUrIty D�GUII1��.1t5s and shall be fully protecte� in rel�ing as to l�ga� matters on the advice of <br /> counsel, �ii� to e�e�ute any af the trusts and pov�ers hereof and to perform any duty hereunder <br /> 16 <br /> 79582.000066 EIVIF U5 56287g42v1 <br />
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