201901174 - Laserfiche WebLink

Browse

201901174 42. Resignation of Trustee. Trustee may resign and be discharged of the trusts hereby created by giving written notice thereof to Grantor and Beneficiary. Such resignation shall take effect on the day specified as and when a successor trustee shall have been appointed as hereinafter provided. Trustee may be removed by Beneficiary at any time. In the event Trustee is removed, resigns, or dies, or otherwise becomes incapable of acting, a successor trustee may be appointed by Beneficiary at any time by an instrument in writing delivered to Trustee and to Grantor, duly acknowledged and filed for record in each place where this Deed of Trust shall have been recorded and signed by Beneficiary. Any successor or substitute trustee shall, without any further act, deed or conveyance, become vested with all the estates, properties, rights, powers and trusts of its predecessor with like effect as if originally named as trustee herein. 43. Co -Trustee, Etc. If at any time or times, for the purpose of conforming to any legal requirements, restrictions or conditions in any state or jurisdiction in which any of the Mortgaged Premises may be located, Trustee or Beneficiary shall deem it necessary or prudent so to do, Trustee or Beneficiary shall have the power, by an instrument executed by Trustee or Beneficiary to appoint one or more persons approved by Beneficiary either to act as separate trustee or trustees or co -trustee or co -trustees jointly with Trustee, of all or any specified part of the Mortgaged Premises; and the person or persons so appointed shall be such separate trustee or co - trustee or co -trustees with such rights and remedies as shall be specified in such instrument to be executed as aforesaid, to the extent not prohibited by law. Any such separate or co -trustee may resign or be removed in the same manner as can Trustee. Trustee and any separate or co -trustees shall have no responsibility for the acts and omissions of each other. 44. Reconveyance. Upon written request of Beneficiary stating that all sums secured hereby have been paid and upon surrender of this Deed of Trust and any note to Trustee for cancellation and retention and upon payment by Beneficiary of Trustee's fees, Trustee shall reconvey to Beneficiary, or the person or persons legally entitled thereto, without warranty, any portion of the Mortgaged Premises then held hereunder. The recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof. The grantee in any reconveyance may be described as "the person or persons legally entitled thereto". 49. Deed of Trust as a Financing Statement. This Deed of Trust will be effective as a financing statement filed as a fixture filing with respect to all fixtures included within the Mortgaged Premises and is to be filed for record in the real estate records of each county where any part of Mortgaged Premises (including said fixtures) is situated. This Deed of Trust covers crops to be grown, timber to be cut and minerals. This Deed of Trust shall also be effective as a financing statement covering any other premises and may be filed in any other appropriate filing or recording office. A carbon, photographic or other reproduction of this Deed of Trust or of any financing statement relating to this Deed of Trust shall be sufficient as a financing statement for any of the purposes referred to in this Section. The mailing address of Grantor is the address of Grantor set forth in the introductory paragraph in this Deed of Trust, and the address of Beneficiary from which information concerning the liens hereof may be obtained is the address of Beneficiary as set forth in the introductory paragraph of this Deed of Trust. 50. Final Agreement. THIS DEED OF TRUST, TOGETHER WITH THE OTHER LOAN DOCUMENTS (AS DEFINED IN THE CREDIT AGREEMENT) REPRESENT THE -24-