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88- 105847 which instrument, executed and acknowledged by Beneficiary and recorded in the office of the register of deeds of the county or counties where such property is situated, shall be conclusive proof of proper substitution of such Trustee or Trustees, who shall, without conveyance from the Trustee predecessor, succeed to all its title, estate, rights, power and duties. 19. No Waiver by Beneficiary: No waiver by Beneficiary of any right under this Deed of Trust shall be effective unless in writing. Waiver by Beneficiary of any right granted to Beneficiary under this Deed of Trust or of any provision of this Deed of Trust as to any transaction or occurrences shall not be deemed a waiver as to any future transaction or occurrences. By accepting payment of any sum secured hereby after its due date, or by making any payment or performing any act on behalf of Trustor that Trustor was obligated hereunder, but failed to make or perform, or by adding any payment so made by Beneficiary to the indebtedness secured hereby, Beneficiary does not waive its right to require prompt payment when due of all other sums so secured or to require prompt performance of all other acts required hereunder, or to declare a default for failure so to pay. 20. waiver of statute of Limitations: Time is of the essence in all Trustor's obligations hereunder; and to the extent permitted by law, Trustor waives all present or future statutes of limitations with respect to any debt, demand or obligation secured hereby in any action or proceeding for the purpose of enforcing this Trust or any right or remedies hereunder. Beneficiary at any may enter and inspect such property at any reasonable time. Trustor covenants to provide Beneficiary, annually, personally certified financial statements, including a balance sheet and an income statement of the trust property within ninety (90) days after the end of Trustor's fiscal year. If such statements are not submitted or are not prepared in accordance with generally accepted accounting principles, consistently applied, the Beneficiary shall have the right to audit the books and records of Trustor at Trustor's expense. Trustor further agrees, when requested by Beneficiary, to promptly deliver in writing such further additional information as requested by Beneficiary relating to the financial statements submitted by Trustor. 22. Acceleration Clause: Should an event of default occur, as defined in the Promissory Note secured hereby, or should Trustor, or any successor in interest of Trustor, voluntarily or involuntarily sell, exchange, convey, transfer, contract to sell, lease with option to purchase, sublease, change the character or use of, or further encumber such proparty, or any part thereof, or any interest therein; or if any of said -15-