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200210067 lienholder or trustee or beneficiary contrary to this provision shall be null and void. So long as an Event of Default is in effect, Beneficiary may, in its sole discretion and without regard to the adequacy of its security under this Deed of Trust, apply all or any part of any amounts on deposit with Beneficiary under this Deed of Trust against the Secured Obligations as more fully set forth in the Credit Agreement. Any such application shall not be construed to cure or waive any notice of Default or invalidate any act taken by Beneficiary or Trustee on account of such notice of Default. 14. Notices. Except as otherwise required under applicable law, all notices or other communications hereunder shall be given in the manner and to the addresses as set forth in the Credit Agreement. 15. No Oral Modification. This Deed of Trust may not be changed or terminated orally. Any agreement made by Grantor and Beneficiary after the date of this Deed of Trust relating to this Deed of Trust shall be superior to the rights of the holder of any intervening or subordinate deed of trust, lien or encumbrance. 16. Partial Invalidity. In the event any one or more of the provisions contained in this Deed of Trust shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision hereof, but each shall be construed as if such invalid, illegal or unenforceable provision had never been included. Notwithstanding anything to the contrary contained in this Deed of Trust or in any provisions of the Credit Agreement or the Loan Documents, the obligations of Grantor and of any other obligor under the Secured Obligations shall be subject to the limitation that neither Beneficiary nor any of the Secured Parties shall charge, take or receive, nor shall Grantor or any other obligor be obligated to pay to Beneficiary or any of the Secured Parties, any amounts constituting interest in excess of the maximum rate permitted by law to be charged by Beneficiary or any of the Secured Parties, as the case may be. 17. Grantor's Waiver of Rights. To the fullest extent permitted by law, Grantor waives the benefit of all laws now existing or that may subsequently be enacted providing for (i) any appraisement before sale of any portion of the Property, (ii) any extension of the time for the enforcement of the collection of the Secured Obligations or the creation or extension of a period of redemption from any sale made in collecting such debt and (iii) exemption of the Property from attachment, levy or sale under execution or exemption from civil process. To the full extent Grantor may do so, Grantor agrees that Grantor will not at any time insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay of execution, exemption, extension or redemption, or requiring foreclosure of this Deed of Trust before exercising any other remedy granted hereunder and Grantor, for Grantor and its successors and assigns, and for any and all persons ever claiming any interest in the Property, to the extent permitted by law, hereby waives and releases all rights of redemption, valuation, appraisement, stay of execution, notice of election to mature or declare due the whole of the Secured Obligations and marshalling in the event of exercise by Beneficiary or Trustee (at the direction of Beneficiary) of the rights hereby created. NY2:A1179150W9 2#091 DC 5999 .0079 17