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200605551
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Last modified
6/21/2006 12:38:00 PM
Creation date
6/21/2006 12:37:58 PM
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DEEDS
Inst Number
200605551
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<br />#1060655 v4 <br /> <br />200805551 <br /> <br />Property or Collateral; and (g) to do all other acts which from the character or use <br />of the Subject Property or Collateral may be reasonably necessary to maintain and <br />preserve its value. <br /> <br />5.8 DEFENSE AND NOTICE OF LOSSES. CLAIMS AND ACTIONS. At <br />Grantor's sole expense, Grantor shall protect, preserve and defend the Subject <br />Property and Collateral and title to and right of possession of the Subject Property <br />and Collateral, the security hereof and the rights and powers of Beneficiary and <br />Trustee hereunder against all adverse claims. Grantor shall give Beneficiary <br />prompt notice in writing of the assertion of any claim, of the filing of any action <br />or proceeding, of the occurrence of any damage to the Subject Property or <br />Collateral and of any condemnation offer or action. <br /> <br />5.9 POWERS OF BENEFICIARY. Beneficiary may, without affecting the <br />personal liability of any person for payment of any indebtedness or performance <br />of any obligations secured hereby and without liability therefor and without <br />notice: (a) release or direct the Trustee to release all or any part of the Subject <br />Property; (b) consent to the making of any map or plat thereof; and (c) join in any <br />grant of easement thereon, any declaration of covenants and restrictions, or any <br />extension agreement or any agreement subordinating the lien or charge of this <br />Deed of Trust. <br /> <br />5.10 COMPENSATION; EXCULPATION; INDEMNIFICATION. <br /> <br />(a) Grantor will promptly pay to or reimburse Beneficiary for any and all fees <br />or expenses incurred in connection with this Deed of Trust, including <br />without limitation, any fees or expenses of the Trustee. Grantor shall pay <br />to Beneficiary reasonable compensation for services rendered concerning <br />this Deed of Trust, including without limitation any statement of amounts <br />owing under any Secured Obligations. Beneficiary shall not directly or <br />indirectly be liable to Grantor or any other person as a consequence of <br />(i) the exercise of the rights, remedies or powers granted to Beneficiary in <br />this Deed of Trust; (ii) the failure or refusal of Beneficiary to perform or <br />discharge any obligation or liability of Grantor under any agreement <br />related to the Subject Property or under this Deed of Trust; or (iii) any loss <br />sustained by Grantor or any third party resulting from Beneficiary's failure <br />to lease the Subject Property after a Default (hereinafter defined) or from <br />any other act or omission of Beneficiary in managing the Subject Property <br />after a Default unless the loss is caused by the gross negligence or willful <br />misconduct of Beneficiary and no such liability shall be asserted against or <br />imposed upon Beneficiary, and all such liability is hereby expressly <br />waived and released by Grantor. <br /> <br />(b) Grantor indemnifies Trustee and Beneficiary against, and holds Trustee <br />and Beneficiary harmless from, all losses, damages, liabilities, claims, <br />causes of action, judgments, court costs, attorneys' fees and other legal <br />expenses, cost of evidence of title, cost of evidence of value, and other <br /> <br />14 <br />
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