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200603561
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Last modified
3/4/2012 11:09:33 AM
Creation date
4/21/2006 3:45:08 PM
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DEEDS
Inst Number
200603561
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200603561 <br />16. Trust Funds. All lease security deposits of the Real Estate shall be treated as trust <br />funds. Within 10 days after request by Beneficiary, Grantor shall furnish Beneficiary <br />satisfactory evidence of compliance with this subsection, together with a statement of all lease <br />security deposits by lessees and copies of all Leases not previously delivered to Beneficiary, <br />which statement shall be certified by Grantor. <br />17. Additional Rights. The holder of any subordinate lien on the Trust Property shall <br />have no right to terminate any Lease whether or not such Lease is subordinate to this Deed of <br />Trust nor shall any holder of any subordinate lien or subordinate deed of trust join any tenant <br />under any Lease in any trustee's sale or action to foreclose the lien or modify, interfere with, <br />disturb or terminate the rights of any tenant under any Lease. By recordation of this Deed of <br />Trust all subordinate lienholders and the trustees and beneficiaries under subordinate deeds of <br />trust are subject to and notified of this provision, and any action taken by any such lienholder or <br />trustee or beneficiary contrary to this provision shall be null and void. Upon the occurrence of <br />and during the continuance of any Event of Default, Beneficiary may, in its sole discretion and <br />without regard to the adequacy of its security under this Deed of Trust, apply all or any part of <br />any amounts on deposit with Beneficiary under this Deed of Trust against all or any part of the <br />Obligations. Any such application shall not be construed to cure or waive any Default or Event <br />of Default or invalidate any act taken by Beneficiary on account of such Default or Event of <br />Default. <br />18. Notices. All notices, requests, demands and other communications hereunder <br />shall be given in accordance with the provisions of the Indenture. <br />19. No Oral Modification. This Deed of Trust may not be amended, supplemented or <br />otherwise modified except in accordance with the provisions of the Indenture. Any agreement <br />made by Grantor and Beneficiary after the date of this Deed of Trust relating to this Deed of <br />Trust shall be superior to the rights of the holder of any intervening or subordinate deed of trust, <br />lien or encumbrance. Trustee's execution of any written agreement between Grantor and <br />Beneficiary shall not be required for the effectiveness thereof as between Grantor and <br />Beneficiary. <br />20. Partial Invalidity. In the event any one or more of the provisions contained in this <br />Deed of Trust shall for any reason be held to be invalid, illegal or unenforceable in any respect, <br />such invalidity, illegality or unenforceability shall not affect any other provision hereof, but each <br />shall be construed as if such invalid, illegal or unenforceable provision had never been included. <br />Notwithstanding anything to the contrary contained in this Deed of Trust or in any provisions of <br />any of the Transaction Documents, the obligations of Grantor and of any other obligor under the <br />any Transaction Document shall be subject to the limitation that Beneficiary shall not charge, <br />take or receive, nor shall Grantor or any other obligor be obligated to pay to Beneficiary, any <br />amounts constituting interest in excess of the maximum rate permitted by law to be charged by <br />Beneficiary. <br />21. Grantor's Waiver of Rights. To the fullest extent permitted by law, Grantor <br />waives the benefit of all laws now existing or that may subsequently be enacted providing for (i) <br />any appraisement before sale of any portion of the Trust Property, (ii) any extension of the time <br />for the enforcement of the collection of the Obligations or the creation or extension of a period of <br />
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