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-24- 200311854 Section 6.04. Successors and Assigns. This Deed of Trust applies to, inures to the benefit of and binds the Trustor and the Beneficiary and their respective successors and assigns and shall run with the Properties. Section 6.05. Captions. The captions or headings at the beginning of Articles, Sections and paragraphs hereof are for convenience of reference and are not a part of this Deed of Trust. Section 6.06. Severability. If any term or provision of this Deed of Trust or the application thereof to any person or circumstance shall to any extent be invalid or unenforceable, the remainder of this Deed of Trust, or the application of such term or provision to persons or circumstances other than those as to which it is invalid or unenforceable, shall not be affected thereby, and each term and provision of this Deed of Trust shall be valid and enforceable to the maximum extent permitted by law. If any portion of the Obligations shall for any reason not be secured by a valid and enforceable Lien upon any part of the Trust Estate, then any payments made in respect of the Obligations (whether voluntary or under foreclosure or other enforcement action or procedure or otherwise) shall, for purposes of this Deed of Trust (except to the extent otherwise required by applicable law) be deemed to be made (i) first, in respect of the portion of the Obligations not secured by the Lien of this Deed of Trust, (ii) second, in respect of the portion of the Obligations secured by the Lien of this Deed of Trust, but which Lien is on less than all of the Trust Estate, and (iii) last, to the portion of the Obligations secured by the Lien of this Deed of Trust, and which Lien is on all of the Trust Estate. Section 6.07. Trust is Irrevocable. The trust created hereby is irrevocable by the Trustor. Deed of Trust NY1: #3351532v3