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I 88- 101248 deemed legally conclusive as notice to the Guarantor notwithstanding any subsequent death, incapacity, disability, or change of address, marital status, name, capacity or membership. 21. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective heirs, representatives, successors and assigns of the parties. All covenants and agreements of Guarantor shall be joint and several. whenever reference is made to the singular hereunder, it shall include the plural and the plural shall include the singular. 22. Guarantor agrees and acknowledges that prior to the execution of this trust deed, Guarantor did acknowledge in writing and hereby confirms again that a) the trust deed executed herein is not a mortgage but a trust deed, 2) that the power of sale provided for in this trust deed provides substantially different rights and obligations to the Guarantor than a mortgage in the event of a default or breach of obligation, and 3) the written acknowledgement was executed prior to the execution of this trust deed. 23. Without limiting the Lender's rights to otherwise designate or substitute the trustee, the Guarantor acknowledges and consents that an attorney for the Beneficiary may serve as the trustee on this trust deed. In addition it is agreed that any payments by the Guarantor on the indebtedness secured by this trust deed shall be paid directly by Guarantor to Lender and the Trustee shall heve no duty to account as to such payments. The Trustee's only duty of accounting will be as to proceeds received by the Trustee from any sale of the property under the exercise of the power of sale. The Trustee shall have no duty by reason of being Trustee to record this trust deed or to insure its validity or execution. Upon being presented with a written request for the reconveyance and a deed of reconveyance from the Lender, the Trustee shall execute the deed of reconveyance and redeliver it to Lender. The Trustee shall be reasonably compensated for executing and redelivering the same. Trustee shall be under no obligation to pay taxes, insurance premiums or other sums incidental to the preservation of the property secured. Trustee shall not be liable and shall be held harmless and indemnified by the parties for all acts or omissions except for acts of gross negligence or bad faith. IN WITNESS WHEREOF, Guarantor has executed this Trust Deed. TRUSTOR/GUARANTOR: -7- L L --1