Laserfiche WebLink
<br />200800520 <br /> <br />t; <br />200~22. <br /> <br />4.21 Sole Discrction of Bencficiarv. Whenever Beneficiary's judgmcnt, conscnt or <br />approval is required hereunder for any matter, or Beneficiary shall have an option or election <br />hereunder, such judgment, the decision as to whether or not to consent to or approve the same or <br />the exercise of such option or election shall be in the sole and absolute discretion of Beneficiary. <br /> <br />4.22 USUry Savings Clause. It is the intention of Grantor and Beneficiary to conform <br />strictly to the usury laws governing the Loan Documents, and any interest payable under the Loan <br />Documents shall be subject to reduction to the amount not in excess of the maximum <br />non-usurious amount allowed under such laws as construed by the courts having jurisdiction over <br />such matters. In the event the maturity of the Secured Obligations is accelerated by reason of any <br />provision of the Loan Documents or by reason of an election by Beneficiary resulting from an <br />Event of Default, then earned interest may nevcr include more than the maximum amount <br />permitted by law, computed from the dates of each advance of loan proceeds under the Loan <br />Agreement until payment; and any interest in excess of the maximum amount permitted by law <br />shall be canceled automatically and, if theretofore paid, shall at the option of Beneficiary either be <br />rcbated to Grantor or be credited on the principal amount of the Secured Obligations, or if all <br />principal has been repaid, then the excess shall be rebated to Grantor. If any interest is canceled, <br />credited against principal or rebatcd to Grantor pursuant to the provisions of the foregoing <br />sentence, and if, thereafter, the interest payable hereunder is less than the maximum amount <br />permitted by applicable law, the rate hereunder shall automatically be increased to the maximum <br />extent possible to permit repayment to Beneficiary as soon as possible of any interest in excess of <br />the maximum amount permitted by law which was earlier cancelcd, credited against principal or <br />rebated to Beneficiary pursuant to the provisions of the foregoing scntence. <br /> <br />4.23 Counterparts. This Deed of Trust may be executed in two or more counterparts, <br />each of which shall constitute an original, but all of which when taken together shall constitute <br />one and the same Deed of Trust. <br /> <br />(REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK( <br /> <br />26 <br /> <br />NEWYI\8176568,2 <br />