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201000147
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Last modified
1/7/2010 4:35:55 PM
Creation date
1/7/2010 4:32:28 PM
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DEEDS
Inst Number
201000147
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~o~ooo~~~ <br />approval and documentation of the matters relating to such Transfer <br />approved by Lender hereunder. <br />(8) Lender shall have received written confirmation that the documents <br />described above have been delivered in a form that complies with the <br />terms hereof from special counsel to the owners of the Pass-Through <br />Certificates referred to above, it being agreed that Dechert LLP is such <br />counsel until Lender is otherwise notified in writing by the holders of a <br />majority in percentage interest of the Pass-Through Certificates. <br />(e) S ecial Sale and Transfer Provisions. <br />(l) In connection with any Sale approved by Lender or consummated as <br />herein provided, Lender agrees that the Grantor shall be released and <br />relieved of all obligations under the Note, this Security Agreement and the <br />other Loan Documents from and after the date of consummation of such <br />Sale. Lender shall execute and deliver to such Grantor a written <br />acknowledgment that all of the Sale Conditions set forth herein have been <br />satisfied and a release to such effect at no cost to Lender. <br />(2) In connection with any Transfer or Sale approved by Lender or <br />consummated in accordance with the provisions hereof, Lender agrees that <br />the Grantor, Transferor and Guarantor shall be released and relieved of all <br />obligations under the Indemnity and Guaranty Agreement ("Guarani") <br />and the Hazardous Substances Indemnity Agreement ("Indemni `) <br />executed and delivered by such persons or entities. Lender shall execute <br />and deliver to such Grantor, Transferor and Guazantor a written <br />.acknowledgment that all of the Sale Conditions or Transfer Conditions, as <br />applicable, set forth herein have been satisfied and a release to such effect <br />at no cost to Lender; such release shall apply to all prospective obligations <br />under the Loan Documents of such Grantor, Transferor and Guarantor and <br />its constituents who have executed the Guaranty and the Indemnity, and <br />Lender shall cancel and terminate the Guaranty and the Indemnity and <br />shall use reasonable efforts to return one original of each of the Guaranty <br />and the Indemnity to the Grantor, Transferor and Guarantor. <br />(3) If Borrower (or any Grantee) is a Delaware business trust, or similar <br />entity, the substitution of trustees under such trust shall not be deemed to <br />be a Sale or Transfer; row video, however, that if the trustee being removed <br />is a Delawaze resident trustee, the new Delaware resident trustee must <br />have a net worth of at least $500,000,000, and if the trustee being removed <br />is the trustee satisfying the SPC Member (as hereinafter defined) <br />requirements set forth in paragraph 20(s) hereof, then the substitute trustee <br />must also satisfy such SPC Member requirements and must have <br />organizational document which are substantively identical (in all material <br />respects) to the organizational documents of trustee being removed. If <br />Borrower is a limited partnership, the substitution of the general partner <br />-22- <br />
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