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200804831 or performance of all or any of the Secured Obligations; ( c) exercise or refrain from exercising, or waive, any right or remedy which Bank may have under any of the Loan Documents; (d) accept additional security of any kind for any of the Secured Obligations; or (e) release or otherwise deal with any real or personal property securing the Secured Obligations. Any person acquiring or recording evidence of any interest of any nature in the Property or the Collateral shall be deemed, by acquiring such interest or recording any evidence thereof, to have agreed and consented to any or all such actions by Bank. 9.12 Subrogation of Bank. Bank shall be subrogated to the lien of any previous encumbrance discharged with funds advanced by Bank under the Loan Documents, regardless of whether such previous encumbrance has been released of record. 9.13 Notices. Any notice required or permitted to be given by Borrower or Bank under this Deed of Trust shall be in writing and will be deemed given (a) upon personal delivery or upon confirmed transmission by telecopier or similar facsimile transmission device, (b) on the first business day after receipted delivery to a courier service which guarantees next-business- day delivery, or (c) on the third business day after mailing, by registered or certified United States mail, postage prepaid, in any case to the appropriate party at its address set forth below: If to Borrower: Pedcor Investments-l 999- XL, L.P, One Pedcor Square 770 Third Avenue S.W. Carmel, Indiana 46032 Attention: Phillip K. Stoffregen Telecopy No.: 317-587-0340 With a copy to: Pedcor General, L.P. One Pedcor Square 770 Third Avenue S.W. Carmel, Indiana 46032 Attention: Susan Krohne Telecopy No.: 317-587-0340 If to Bank: U.S, Bank National Association 950 1 ih Street, Third Floor Denver, Colorado 80202 Attention: Sarah Ranger Telecopy No.: 303-585-4198 103209-60617 -957802v5 24 us Bank / Riverbend Apartments Phase I Deed of Trust