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2005078'74
<br />(c) Rights and Duties. It shall be no part of the duty of Trustee to see to any recording, filing or
<br />registration of this Security Instrument or any other instrument in addition or supplemental hereto, or to give any
<br />notice thereof, or to see to the payment of or be under any duty in respect of any tax or assessment or other
<br />governmental charge which may be levied or assessed on the Property, or any part thereof, or against Trustee, or
<br />to see to the performance or observance by Borrower of any of the covenants and agreements contained herein.
<br />Trustee shall not be responsible for the execution, acknowledgement or validity of this Security Instrument or of
<br />any instrument in addition or supplemental hereto or for the sufficiency of the security purported to be created
<br />hereby, and makes no representation in respect thereof or in respect of the rights of Lender. Trustee shall have the
<br />right to advice of counsel upon any matters arising hereunder and shall be fully protected in relying as to legal
<br />matters on the advice of counsel. Trustee shall not incur any personal liability hereunder except for its own gross
<br />negligence or willful misconduct and Trustee shall have the right to rely on any instrument, document or signature
<br />authorizing or supporting any action taken or proposed to be taken by Trustee hereunder and believed by Trustee
<br />in good faith to be genuine.
<br />(d) Subrogation to Existing Liens: Vendor's Lien. To the extent that proceeds of the Note are used to
<br />pay Debt secured by any outstanding lien, security interest, charge or prior encumbrance against the Property,
<br />such proceeds have been advanced by Lender at Trustee's request, and Lender shall be subrogated to any and all
<br />rights, security interests and liens owned by any owner or holder of such outstanding liens, security interests,
<br />charges or encumbrances, however remote, irrespective of whether said liens, security interests, charges or
<br />encumbrances are released, and all of the same are recognized as valid and subsisting and are renewed and
<br />continued and merged herein to secure the Debt, but the terms and provisions of this Security Instrument shall
<br />govern and control the manner and terms of enforcement of the liens, security interests, charges and
<br />encumbrances to which Lender is subrogated hereunder. It is expressly understood that, in consideration of the
<br />payment of such indebtedness by Lender, Borrower hereby waives and releases all demands and causes of action
<br />for offsets and payments in connection with the said indebtedness. If all or any portion of the proceeds of the loan
<br />evidenced by the Note or of any other secured indebtedness has been advanced for the purpose of paying the
<br />purchase price for all or a part of the Property, no vendor's lien is waived; and Lender shall have, and is hereby
<br />granted, a vendor's lien on the Property as cumulative additional security for the secured indebtedness. Lender
<br />may foreclose under this Security Instrument or under the vendor's lien without waiving the other or may
<br />foreclose under both.
<br />(e) Substitute Trustee. Trustee may resign by an instrument in writing addressed to Lender, or
<br />Trustee may be removed at any time with or without cause by an instrument in writing executed by Lender. In
<br />case of the death, resignation, removal or disqualification of Trustee, or if for any reason Lender shall deem it
<br />desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or
<br />successor trustee, then Lender shall have the right and is hereby authorized and empowered to appoint a successor
<br />trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by
<br />Lender, and the authority hereby conferred shall extend to the appointment of other successor and substitute
<br />trustees successively until the Debt secured hereby has been paid in full, or until the Property is fully and finally
<br />sold hereunder. In the event that the Debt is owned by more than one person or entity, the holder or holders of not
<br />less than a majority in amount of such indebtedness shall have the right and authority to make the appointment of
<br />a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the
<br />first sentence of this clause (e). Such appointment and designation by Lender, or by the holder or holders of not
<br />less than a majority of the Debt secured hereby, shall be full evidence of the right and authority to make the same
<br />and of all facts therein recited. If Lender is a corporation or association or trust and such appointment is executed
<br />in its behalf by an officer or trustee of such corporation or association or trust, such appointment shall be
<br />conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action
<br />by the board of directors or any superior officer of the corporation or association or trust. Upon the making of any
<br />such appointment and designation, all of the estate and title of Trustee in the Property shall vest in the named
<br />successor or substitute trustee, and it shall thereupon succeed to and shall hold, possess and execute, all of the
<br />rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, nevertheless, upon the
<br />written request of Lender or of the successor or substitute trustee, the trustee ceasing to act shall execute and
<br />deliver an instrument transferring to such successor or substitute trustee all of the estate and title in the Property of
<br />the trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein
<br />conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by
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