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02103878 Deed of Trust to Trustee or Beneficiary or to which either of them may otherwise be entitled by law may be exercised concurrently or independently as often as deemed necessary by Trustee or Beneficiary or either of them and either of them may pursue inconsistent remedies. Beneficiary or Trustee may proceed to pursue a deficiency judgment against Trustor to the extent such action is permitted by law. 11. Transfer of the Property; Assumption. If all or any part of the property or interest therein is sold, transferred, or otherwise conveyed by Trustor without Beneficiary's prior written consent, excluding: (a) the creation of a lien or encumbrance subordinate to this Deed of Trust; (b) transfer by devise. descent. or by operation of law upon the death of Trustor; (c) the grant of any leasehold interest of three (3) years or less not containing an option to purchase; or (d) such grant of a leasehold interest as may be approved in writing by Beneficiary; such action is a breach of this agreement, and Beneficiary may, at Beneficiary's option, declare all sums secured by this Deed of Trust to be immediately due and payable, or cause Trustee to file a notice of default. Beneficiary shall have waived such option to accelerate if, prior to the sale, transfer, or conveyance, Beneficiary and the person to whom the property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Beneficiary and that the interest payable on the sum secured by this Deed of Trust shall be at such rate as Beneficiary shall request, but no transfer or conveyance shall release Trustor from liability on the obligation secured hereby. 12. Forbearance by Beneficiary and Waiver. Any forbearance by Beneficiary to Trustee, Trustor, or anyone, in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy hereunder. Likewise, the waiver by Beneficiary to Trustee of any default of Trustor under this Deed of Trust shall not be deemed to be a waiver of any other or similar defaults subsequently occurring. No waiver shall be construed against Beneficiary unless such waiver shall be express and in writing signed by Beneficiary. 13. Beneficiary's Powers. Without affecting or releasing the liability of Trustor or any other person liable for the payment of any obligation herein mentioned, and without affecting the lien or charge of this Deed of Trust upon any portion of the property not then or theretofore released as security for the full amount of all unpaid obligations, Beneficiary may from time to time and without notice at the request of one or more Trustors: (a) release any person so liable; (b) extend or renew the maturity or alter any of the terms of such obligations; (c) grant other indulgences; (d) release or convey or cause to be released or conveyed at any time at Beneficiary's option any portion or all of the property; (e) take or release any other or additional security for any obligation herein mentioned; and, (f) make compositions or other arrangements with debtors in relation thereto. Beneficiary may, in its sole discretion: (i) inspect the premises at any reasonable time; (ii) require such additional security as may be reasonable; and, (iii) substitute as Trustee herein any person, entity, or corporation qualified so to act. The attorneys of Beneficiary or one of them may now or subsequently be designated Trustee herein and may perform for Beneficiary duties as counsel and Trustee. All Trustors shall be jointly and severally obligated and bound by the actions of Beneficiary or any Trustor as herein stated. Page 6 of 11