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84-004738 Beneficiary or the legal holder of said promissory note on account of the indebtedness evidenced thereby. r (e) Whenever used herein, the singular number shall include the plural, the plural, the singular, the use of any gender shall be applicable to all genders, and the term "Beneficiary" shall include any payee of the indebtedness hereby secured or any transfer thereof, whether by operation of law or otherwise, 20, Successor Trustee. Beneficiary may from time to time substitute a successor or successors to any Trustee named herein or acting hereunder to execute this Trust Deed. Upon such appointment and without conveyance to the successor Trus- tee, the latter shall be vested with all title, powers, and duties conferr~d upon any Trustee herein named or acting here- under. Each such appointment and substitution shall be made by written instrument by Beneficiary, containing reference to this Trust Deed and its place of record, which when recorded in the office of the Register of Deeds of the county or counties in which said property is situated shall be conclusive proof of proper appointment of the successor Trustee, The foregoing power of substitution and the procedure therefore shall not be exclusive of the power and procedure provided for by law for the substitution of a Trustee or ~'IlE"es if' the place of the Trustee, 21. Forebearance by Beneficiary or Trustee Not a Waiver. Any forebearance by Beneficiary or Trustee in exercising any right or remedy hereunder ~ or other\vise afforded by applicable law, shall not be a waiver of or preclude the exercise of any right or remedy hereunder, Likewise, the waiver by Beneficiary or Trustee of any default of Trustor under this Trust Deed shall not be deemed to be a waiver of any other or similar defaults subsequently occurring. 22, Trustor Not Released, Extension of the time for payment or modification or amortization of the sums secured by this Trust Deed granted by Beneficiary to any successor in interest of Trustor shall not operate to release, in any manner, the liabili ty of the original Trustor or Trustor's successor in interest. Beneficiary shall not be required to commence pro- ceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Trust Deed by reason of any demand made by the original Trustor and Trustor's successors in interest, 23, Default. If there shall be a default under this Deed of -- Trust or under any prior mortgage, the Beneficiary may cure such default, and the amounts advanced by, and other costs and expenses of the beneficiary in curing such default, with interest at the default rate contained in the Note secured hereby from the time of the advances or payments shall be added to the indebtedness secured by this Trust Deed and may be collected hereunder at any time after the time of such advances or payments and shall be deemed to be secured hereby, 24, Option to Foreclose, Upon the occurrence of any default hereunder, Beneficiary shall have the option to foreclose this Trust Deed in the manner provided by law for the foreclosure of mortgages on real property, L 25. Trustor's Rights, Absent Default, Until any default in the payment of indebtedness hereby secured or until the breach of any covenant herein contained} the Trustor. its successors and assigns, shall possess and enjoy the property, and receive the rents and profits therefrom, Upon payment of all sums secured by thi s Trust Deed, Benefic iary shall reques t Trus tee to reconvey the property and shall surrender this Trust Deed and all notes evidenci,ng indebtedness secured by this Trust Deed to Trustee, Trus tee shall reconvey the property wi thou t warranty and wi thout charge to the pe rsons legally en tit led thereto, The Grantee in any reconveyance may be described as -7-