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200603196 <br />notice to Borrower and to Lender. Lender may remove Trustee at any time or from time to time <br />and select a successor trustee. In the event of the death, removal, resignation, refusal to act, or <br />inability to act of Trustee, or in its sole discretion for any reason whatsoever Lender may, <br />without notice and without specifying any reason therefor and without applying to any court, <br />select and appoint a successor trustee, by an instrument recorded wherever this Security <br />Instrument is recorded and all powers, rights, duties and authority of Trustee, as aforesaid, shall <br />thereupon become vested in such successor. Such substitute trustee shall not be required to give <br />bond for the faithful performance of the duties of Trustee hereunder unless required by Lender. <br />The procedure provided for in this paragraph for substitution of Trustee shall be in addition to <br />and not in exclusion of any other provisions for substitution, by law or otherwise. <br />Section 15.2 Trustee's Fees. Borrower shall pay all reasonable costs, fees and <br />expenses incurred by Trustee and Trustee's agents and counsel in connection with the <br />performance by Trustee of Trustee's duties hereunder and all such costs, fees and expenses shall <br />be secured by this Security Instrument. <br />Section 15.3 Certain Rights. After and during the continuance of an Event of <br />Default, with the approval of Lender, Trustee shall have the right to take any and all of the <br />following actions: (a) to select, employ, and advise with counsel (who may be, but need not be, <br />counsel for Lender) upon any matters arising hereunder, and shall be fully protected in relying as <br />to legal matters on the advice of counsel, (b) to execute any of the trusts and powers hereof and <br />to perform any duty hereunder either directly or through his/her agents or attorneys and (c) any <br />and all other lawful action as Lender may instruct Trustee to take to protect or enforce Lender's <br />rights hereunder. Trustee shall not be personally liable in case of entry by Trustee, or anyone <br />entering by virtue of the powers herein granted to Trustee, upon the Property for debts contracted <br />for or liability or damages incurred in the management or operation of the Property. Trustee <br />shall have the right to rely on any instrument, document, or signature authorizing or supporting <br />an action taken or proposed to be taken by Trustee hereunder, believed by Trustee in good faith <br />to be genuine. <br />Section 15.4 Retention of Money. All moneys received by Trustee shall, until <br />used or applied as herein provided, be held in trust for the purposes for which they were <br />received, but need not be segregated in any manner from any other moneys (except to the extent <br />required by applicable law) and Trustee shall be under no liability for interest on any moneys <br />received by Trustee hereunder. <br />Section 15.5 Perfection of Appointment. Should any deed, conveyance, or <br />instrument of any nature be required from Borrower by any Trustee or substitute trustee to more <br />fully and certainly vest in and confirm to the Trustee or substitute trustee such estates rights, <br />powers, and duties, then, upon reasonable request by the Trustee or substitute trustee, any and all <br />such deeds, conveyances and instruments shall be made, executed, acknowledged, and delivered <br />and shall be caused to be recorded and /or filed by Borrower. <br />Section 15.6 Succession Instruments. Any substitute trustee appointed <br />pursuant to any of the provisions hereof shall, without any further act, deed, or conveyance, <br />become vested with all the estates, properties, rights, powers, and trusts of its or his/her <br />predecessor in the rights hereunder with like effect as if originally named as Trustee herein; but <br />NYLIB4 753776.3 -21- <br />