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<br /> �h} LTpon sale of the Trust Property at any j udicial or n�n j udicial foreclasure, Beneficiary may
<br /> �redit bid �as determined by Benef��iary in its sale discretion� aII or any por�ion of the Secured
<br /> �bligat�ons. In detern�in�ng such credit b�d,Benef�c�ary may,bu�is n�t ob�igated to, take into account ail
<br /> or any of �he fal�owing: �i�appraisals af the Trus� Property as such appraisa�s may be �is�ounCed or
<br /> adjusted by Beneficiary in its sole underwriting discretzon; �ii� expenses and costs incurred by Benefzciary
<br /> �vith respect �o th� Trust Prnper�y prior ta forec�osure, �iii� expenses and costs which Beneficiary '
<br /> a.ntic�pates will be incurred with r�spect to the Trust Pr�perty after foreclasure, bu� prior ta resale,
<br /> including withou� limitation, costs af struc�ural repnrts and �ther due dx��gence, costs to carry the Trust
<br /> Froper�y prior to resale, C45�5 af resale (e.g., CC�I71�1I5S1aI1S, att�rneys' f�es, and �axes}, Hazardous
<br /> Materia�s clean-up and monitoring, deferr�d maintenan�e, repa�r, refurbishment and retrafit, and costs af
<br /> defend�ng or settling litigation affect�ng the Trust Proper�y; (iv} declirung trends in real pr�per�y values
<br /> generally and vvith respect to praperties srmilar to the Trust Property; (v� a.n�icipated discounts upan
<br /> resale of the Trust Proper�y as a distressed or for�closed prop�r�y; (v�} the existence of additinnal
<br /> cal�a�eral, if any, far the S ecured �bl�gations; and (vi�} such other factors or matters that Benefic�ary
<br /> deems apprapria�e. Trus�or acknowledges and agrees tha�: �A}Beneficiary is not required to use any or
<br /> all of the foregoing factors ta determine the am�unt of i�s credit bid; �B�this Section does not xmpose
<br /> upon Beneficiary any a�iditi�nal abligations�hat are not imposed by law at the time the credit bid is made;
<br /> ��}the amount of Benef�ciary"s credi��id need not have any relati�n�o any�oan-��-va�ue ratios specified
<br /> �n any agreemer�t be�ween Trustor and Benefic�ary or previously d�scussed by Trustor and Beneficiary;
<br /> and �I]}Beneficiary's cred�t bid may be, at Benef��iary's sole discretion, higher or lower than any
<br /> appraise�i value of the Trust Proper�y.
<br /> 4.3 App�ication of F�reclosure Sale Proce_e_ds. After deducting all costs, fees and expenses �f
<br /> Truste�, and of this trust, includ�ng costs of evidence af t�tle and a�torneys' fees in connection vvith a sale,
<br /> ali proceeds of any foreclosure sale sha�� be applied first, ta payment of a11 Secured �bligatians
<br /> (including without i�mitati�n, all sums expended by Benefic�ary under the terms hereof and not then
<br /> repaid, with accrued interest a�the highest rate per annum payahle under any Secured�biigation}, in such
<br /> order and amounts as Beneficiary in zts sole discr��ian sha11 de�ermine; and the remainder, if any, ta the
<br /> persan or persons legally entitled thereta.
<br /> 4.4 A lication of �th�r Sums. AIl sums received by B eneficiary or any agent or rece�ver
<br /> hereunder, less al� c�sts and expenses incurred by Beneficiary or su�h agent or r�c�iver, includ�ng
<br /> reasonable attorneys' fees, shal� be app�ied to paymer�t of �h� Secured �bligations in such ord�r as
<br /> Beneficiary sha11 determine in its sole discretian; provided however, that Beneficiary shall have na
<br /> liabi�ity for funds n�t actually received by Beneficiary.
<br /> 4.5 No Cure or Wai�er. Neither Beneficiary's, Trustee's or any receiver's entry upan and taking
<br /> passession of the Trust Froperty, nor any collection of Ren�s, znsurance proce�ds, cor�dernnatior�proceeds
<br /> ar damages, other secura.ty or pro�eeds of other security, or other sums, nar the application of any
<br /> c�ll�cted sum to any S��ured 4bligation, nar the �xercise af any other right or remedy by Beneficiary,
<br /> Trustee or any receiver shall �mpair�he status af the security of this I]eed of Trust, or cure or waive any
<br /> breach, Defau�t or notice of defaul�under this Deed of Trust, or nullify the effect of any natice of default
<br /> or sale �uril�ss al� Secured�bligations and any other sums then due hereunder have been paid in full and
<br /> Trustor has cured all other Defaults}, or prejudic� Benefic�ary or Trustee in �he exercise af any right ar
<br /> remed�, ar be construed as an affirmation by Beneficiary of any �enancy, lease or option �f the Trust
<br /> Property or a subord�nation af the lien af this Deed of Trust.
<br /> 4.6 �osts, Expenses and Attorr�eys' Fees. Trus�or agrees tn pay to Beneficiary imm�diate�y �
<br /> upon demand the full amaunt of all payments, ad�ances, charges, costs and expenses, including court
<br /> costs and reasonab�e attarneys' fees, expended �r incurred by Trustee �r Beneficiary pursuant ta thls
<br /> Article N, whether in�urred at the trial or appellate level, in an arb�tration praceeding �r otherwise, and
<br /> �ncludi.ng any of�he forego�ng incurred in cannection with any bankruptcy prnceeding(including without
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