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200504312 18. RECONVEYANCE. Subject to the provisions of the last sentence of this Paragraph, upon Beneficiary's written request, and upon surrender to Trustee for cancellation of this Deed of Trust and any note, instrument, or instruments, setting forth all obligations secured hereby, Trustee shall reconvey, without warranty, the Subject Property or that portion thereof then held hereunder. The recitals of any matters or facts in any reconveyance executed hereunder shall be conclusive proof of the truthfulness thereof. To the extent permitted by law, the reconveyance may describe the grantee as "the person or persons legally entitled thereto." Neither Beneficiary nor Trustee shall have any duty to determine the right of persons claiming to be rightful grantees of any reconveyance. When the Subject Property has been fully reconveyed, the last such reconveyance shall operate as a reassignment of all future rents, issues and profits of the Subject Property to the person or persons legally entitled thereto, unless such reconveyance expressly provides to the contrary. 19. ANNUAL OPERATING STATEMENTS. Trustor shall furnish to Beneficiary, within thirty (30) days after the end of each calendar year, a complete rent roll for the Project, which rent roll shall list all current tenants, rental terms and amounts and expense summary. In addition, Trustor shall furnish to Beneficiary certified operating statements for the Project within one hundred twenty (120) days after the end of each fiscal year during the term of the loan, which statements shall be prepared in accordance with generally accepted accounting principles consistently applied. Said statements shall include gross income (itemized as to source), operating expenses (itemized), depreciation charges and net income before and after federal income taxes. In the event Trustor fails to furnish to Beneficiary the annual operating statements required in this paragraph 19, Beneficiary may, at its option, have the applicable books and records of Trustor audited at Trustor's expense. 20. USURY. The Note, this Deed of Trust and the other Loan Documents are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of advancement of the loan proceeds, acceleration of the maturity of the loan, or otherwise, shall the amount paid or agreed to be paid to Beneficiary for the use, forbearance or detention of the money loaned pursuant to the Loan Documents exceed the maximum rates permissible under applicable law. If, from any circumstances whatsoever, fulfillment of any provisions hereof or of the Note or any other Loan Document, at any time performance of such provision shall be due, shall involve transcending the limits of validity prescribed by law, then ipso facto, the obligations to be fulfilled by Trustor shall be reduced to the limit of such validity. This provision shall never be superseded or waived and shall control every other provision of all the Loan Documents. All loan fees or other charges that might qualify as interest or consideration under applicable usury statutes shall be averaged over the term of the loan for the purpose of computing whether or not such charges exceed the maximum permissible by law. In the event that the amount of interest would at any time exceed the legal maximum, all such amounts received in excess of the maximum legal rate shall be deemed held by Beneficiary in trust for the exclusive use and benefit of Trustor as long as and to the extent that such amounts so held in trust may be applied to the interest or other consideration payable under the terms of the Loan Documents as and when such amounts can be so applied without violating applicable laws or exceeding the maximum legal rate, if any. Beneficiary may commingle such amounts so held in trust with its own funds. If, at the time of repayment of the loan, the total interest, discount or consideration referred to be taken into consideration in computing such maximum legal rate exceeds such maximum legal rate, then Trustor shall be under no duty or obligation to pay any such excess, but rather the maximum liability of Trustor for such amounts shall be expressly limited to legal maximum amounts and any such sums theretofore paid by Trustor and held in trust by Beneficiary in excess of such amount, as aforesaid, shall promptly be repaid or credited to Trustor at the time of repayment of the loan. If Trustor is exempt from applicable usury statutes or for any other reason not limited by law, none of the provisions of this section shall be construed so as to limit or reduce the interest or other consideration of the loan payable under the Loan Documents. B. DEFAULT PROVISIONS 1. E'V'ENTS OF DEFAULT. Events of Default hereunder shall include: (a) Failure of Trustor to make any payment required under this Deed of Trust, the Note or any other Loan Document; 11