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201702615
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Last modified
7/28/2017 3:37:19 PM
Creation date
4/24/2017 9:52:42 AM
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DEEDS
Inst Number
201702615
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� 2� 17�2� 15 � <br /> . <br /> 3.15 Releases, E��ensionsz�Modifzcations and Addi�ional S ecurity. Wi�hou� notice to or the <br /> consent, appraval ar agre�ment of any persons or entities hav�ng any in�erest at any tim� in the Trust <br /> Property �r in any manner obligated under any Secured �bligation �each, an "Int�rested Party"}, <br /> Benefzciary may, fram time ta time, release any Interested Party from liabi��ty for the payment af any <br /> Secured �bliga��on, �ake any action or make any agr�ement extending the maturi�y ar o�he�-vvise altering <br /> the terms or �ncreasing the amount o f any S ecured �bl�ga�ion, accept add�txonal se�ur�.ty, arad enforce, <br /> waive, subordina�e or release all or a p�z-�ian of the Trust Proper�y or any�ther s�cu.r�ty for any S�cured <br />� �bligation. None of the faregoing acti�ns sha11 re�ease or reduce the personal liab��ity of any Interested <br /> Party,nor release or�mpa�r�he priarity of the�ien.of this Deed of Trust upon the Trust Property. <br /> 3.15 Rec�n�eYance. Upon Beneficiary's written request, and so�e�y to the extent required by <br /> app�i�able law upon surrender of this Deed of Trus� and e�ery n�te or �ther ins�rument se�ting forth any <br /> S ecur�d �bl�gat�ons ta Trustee for cancella�ion, Trustee shal� recanvey, vvi�hout warranty, the Trust <br /> Property, or that por�ion thereof then covered hereby, from the�ien of this De�d of Trus�. The rec�tals nf <br />; any mat�ers or facts in any reconveyance executed hereunder shal�be canclus�ve praof of the truthfu�ness <br />� thereof. To the extent perm�tted by �aw, the recon�eyance may describe the grantee as "th� person or <br /> persons legal�y enti��ed thereto." Neither Beneficiary nor Trustee shall have any duty to determine the <br /> rights of persons c�axming to be rightfu�grantees of any recon��yance. When�he Trust Praperty has been <br /> fully recon�eyed, the last such r�canveyance shal� aperate as a reassigru�l�nt of all future Rents to th� <br /> person or persons legally entitled �hereto. Upan Beneficiary's demand, Trustor shall pay a�� costs and <br /> expenses incurred by Benef�ciary in cvnnection with any reconveyance. <br /> 3.17 Su�ro a� tion. Beneficiary shall b�subrogat�d ta the�ien�f all encum�rances, whether�r nat <br /> released of recard, paid in who�e or in par� by Beneficiary pursuant to th�s I�eed of Trust or by the <br /> proceeds of any Secured�bl�gation. <br /> 3.1 S Trustor Differ�nt From �bli or "'Third Part Trustor" . As used in �his Section, the �erm <br /> "�bligor" shall mean each person ar entity ohligated in any manner under any of the Secur�d�bligations; <br /> and the term "Third Farty Trustor"' shall mean �1�each person �r ent��y included in the definition af <br /> Trus�or herein and which is no� an �bligor under alI of th� Secured �biigations, and (Z�each persan or <br /> entity included�n the definition of Trustor here�n if any�bligor is nat included in sa�d definition. <br /> (a} Re resentations and Warranties. Each Third Party Trustor represents and warran�s to <br /> Benef�ciary that: �i}this Deed of Trust �s executed at an �bligor's request; (ii}this Deed of Trus� <br /> comp�ies w�th a�l agreements be�ween each Third Party Trust�r and any �b�igor regardir�g such Third <br /> Party Trust�r's executi�n hereof; �iii)Beneficiary has made no representat�on ta any Third Par�y Trustor <br /> as to the creditwor�hiness of any �bligor; and �iv} each Third Party Trustor has established adequate <br />; means of obtaining from each�b�igor�n a continuing basis financial and ather inf�rmation per�aining t� <br /> suCh �b�igor's financial condition. Each Third Party Trustor agrees to keep adequat�iy informed from <br /> su�h means of any facts, events or circumstances which might in any way affec� such Third Par�y <br /> Trustor's risks hereunder. Each Third Par�y Trustor further agrees that B eneficiary sha�l have na <br /> abligation to disclose to any Third Par�y Trustar any informati�n or material abaut any �bligor which is <br /> a�quired by Beneficiary in any mann�r. The liability of each Third Par�y Trustor her�und�r shall be <br /> re�nstated and re�ived, and th�rights of Benefic�ary shal�cantinu�if and to th�extent that far any reason <br /> any amount a� any time pa�d an ac�ount af any Secured �bligation is rescinded ar must atherwis� be <br /> restored by Beneficiary, wheth�r as a result of any proceedings in bar�kruptcy or reorganization or <br /> othervvise, ali as though such amQun�had not been paid. The determination as to vvhether any amount sa <br /> paid must be resc�nded or restored sha11 be made by Benefic�ary in its sole discretion; prov�ded however, <br /> that if Benefic�ary cha�ses to c�ntest any such matter at the request of any Third Party Trustor, each <br /> Third Party Trustor agrees �o indemnify and hold Beneficiary harmless fr�m and against ai1 costs and <br /> expenses, including reasonable attorneys' fees, expended or in�urred by Ben�ficiary �n c�nne�tion <br /> ther�with, �ncluding without limita�ion,�n any litigati�n with respect thereto. <br /> _�_ <br />
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