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202107049
<br />Section 1.11. Release of Liability or Performance. Without affecting the liability of Borrower
<br />or of any other person who is or shall become bound by the terms of this Deed of Trust or who is or shall
<br />become liable for the performance of any obligation secured hereby, Beneficiary may, in such manner,
<br />upon such terms and at such times as it deems best and without notice or demand, release any party now
<br />or hereafter liable for the performance of any such obligation, extend the time for such performance,
<br />accept additional security therefor, and alter, substitute or release any property securing such
<br />performance. No exercise or nonexercise by Beneficiary of any of its rights under this Deed of Trust, no
<br />dealing by Beneficiary with any person, firm or corporation and no change, impairment, loss or
<br />suspension of any right or remedy of Beneficiary shall in any way affect any of the obligations of
<br />Borrower hereunder or any security furnished by Borrower or give Borrower any recourse against
<br />Beneficiary.
<br />ARTICLE II
<br />RELEASE OF CERTAIN PROPERTY
<br />Section 2.01. Modification of Project by Borrower. Borrower shall have the privilege of
<br />remodeling the Project or making substitutions, additions, modifications and improvements to the Project
<br />from time to time as Borrower, in its discretion, may deem desirable for Borrower's use for such purposes
<br />as shall be permitted by the Act and the Agreement, the cost of which remodeling, substitutions,
<br />additions, modifications and improvements shall be paid by Borrower, and the same shall be the property
<br />of Borrower and included under the terms of this Deed of Trust as part of the Project; provided, however,
<br />that such remodeling, substitutions, additions, modifications and improvements shall not interfere with
<br />the construction of any improvements or in any way damage the Project, and provided that the Project, as
<br />remodeled, improved or altered, upon completion of such remodeling, substitutions, additions,
<br />modifications and improvements made pursuant to this Section, shall be of a value not less than the value
<br />of the Project immediately prior to the remodeling or the making of substitutions, additions, modifications
<br />and improvements.
<br />Section 2.02. Release of Items of Equipment. In any instance where Borrower in its sole
<br />discretion determines that any items of Equipment have become obsolete, worn-out, unsuitable,
<br />inappropriate or unnecessary for its purposes, Borrower may remove such items of Equipment from the
<br />Premises and sell, trade in, exchange or otherwise dispose of them (as a whole or in part) without any
<br />responsibility or accountability to Beneficiary therefor, provided that Borrower shall:
<br />(a) substitute and install anywhere on the Premises other machinery or equipment
<br />having equal or greater utility (but not necessarily having the same function) in the operation of
<br />the Project as a modern facility, all of which substituted machinery or equipment shall be free of
<br />all liens and encumbrances (other than Permitted Encumbrances) but shall become a part of the
<br />Equipment; or
<br />(b) not make any such substitution and installation, in which event Borrower shall
<br />(i) in the case of the sale of any such machinery or equipment or in the case of scrapping thereof,
<br />as the case may be, deposit with Beneficiary the amount received by it pursuant to such sale or
<br />scrapping, (ii) in the case of the trade-in of such machinery or equipment for other machinery or
<br />equipment not to be installed on the Premises, deposit with Beneficiary the amount of the credit
<br />received by it in such trade-in, and (iii) in the case of any other disposition of such machinery or
<br />equipment, deposit with Beneficiary an amount equal to the original cost thereof less depreciation
<br />at rates calculated in accordance with generally accepted accounting principles.
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