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84 --"'" f venturer with the Grantor. Without limitation the Beneficiary shall not be deemed to be a venturer on account of its becoming a or exercising any rights pursuant to this Deed> other instrument or document evidencing or Liabilities secured hereby, or othe'rwise. 3.15. Trustee. (a) Trustee, by its acceptance hereof, covenants fai.thfjJ:Lly to perform and fulfill the trusts herein created; being liable, however, only for willful negligence or misconduct, and hereby waives any statutory fee and agrees to accept reasonable compensation, in lieu thereof, for any services rendered by it in accordance with the terms hereof. (b) Trustee may resign at any time upon given days' notice in writlng to Grantor and to Beneficiary. (c) Beneficiary, without notlce to Trustee or Grantor, may remove Trustee at any time or from time to time and select a successor trustee. In the event of the death, removal, res~gna't.~on~ refusal to act, or the- tnabili t..... to act of Trustee,.. orin its sole discretion for s'.~ason wh",tsoever, Beneficiary may, vH thout not.lce and wi t:f,out specifying any reason therefor and wit:hout applying to any court for approval thereof appo\nt a successor t:ru5t:ee, whereupon all powers, rights, duties and authorlty of Tru5t:ee, as aforesaid, shall thereupon become vested ~n such successor, Such 5ub5t~tut:e trustee shall not be required to q~Ve bond for t:he faithful Derforrnance of its duties unless req~lred by EenefJ.cial:Y. Su~h substitute trustee shall be appolnted by wr~t~en instrument duly r~cQrded in the county where the Premlses are locat:ed, which appolntrnent may be executed by any aut:horlzed agent of Beneficiary and if Beneflciary is a real estat:e lnvestment trust or corporation and such appointment be executed 1n lt5 behalf by any officer of such real estate lnvestment trust ~. corporatlon, such appo~ntment shall be concluslvely presumed t:o be executed with authority and shall be valla and suff~Clent without proof of any action by t.he Board of Trustees or Board of Dlrectors or any corporatlon. And, Grantor hereby ratlfles and conf~:'ms any and all acts which the Trustee, or its successor or successors shall do lawfully by virtue thereof. (d) Granto:- shall pay all costs, fees and expenses of Trustee. 1 t-s aae:i.t.s ~nn counsel in connectlon .....ti th the performance of 1 ts dutles he:'eunder; and shall pay all taxes (except federal and state lncome taxes \ or other governmental charges or lmpcsltlons imposed by any g~vernmental authority on Trustee or BenefICIary by reason of their interest in the Note and. this Deed. (e) Upon wrltten request of BenefIclary and surrender of saId Note and any additIonal loan notes and this Deed to Trustee for cancellation, and upon payment to Trustee of its fees and expenses, Trustee shall reconvey without warranty, the property then held hereunder, The recitals ln any reconveyance shall be conclUSIve proof of the truthfulness thereof and the grantee ln any reconveyance may be deserlbed as "the person or persons legally entitled thereto," L -24- L