|
DEED OF TRUST 2 ~ 1 ~ O G 8 81
<br />loan No: 824361Q370-42 (Continued) Page 9
<br />E. Class Proceedin s and Consolidations. No party shall be entitled to join or consolidate disputes by or against others who are not parties
<br />to this agreement or related Documents in any arbitration, or to include in any arbitration any dispute as a representative or member of a
<br />class, or to act in any arbitration in the interest of the general public or in a private attorney general capacity.
<br />F. Miscellaneous. To the maximum extent practicable, the AAA, the arbitrators and the parties shall take all action required to conclude
<br />any arbitration proceeding within 1$0 days of the filing of the Dispute with the AAA. No arbitrator or other party to an arbitration
<br />proceeding may disclose the existence, content pr results ther9af, except for disclosures of information by a party required in the ordinary
<br />course of its business or by applicable law or regulation. If more than one agreement for arbitration by or between the parties potentially
<br />applies to a Dispute, the arbitration provision most directly related to the documents between the parties pr the subject matter of the
<br />Dispute shall control. This arbitration provision shall survive the repayment of the Note and the termination, amendment or expiration of
<br />any of the Documents or any relationship between the parties.
<br />G. State Specific Provisions.
<br />If Delaware law governs the Disqute, the following provision is included:
<br />Confession bf Judgment. Notwithstanding anything herein to the contrary, the arbitration requirement does not limit or preclude the right
<br />of Lender to confess judgment pursuant to a warrant of attorney provision set forth in the Note ar Related Documents. No party shall have
<br />the right to demand binding arbitration of any claim, dispute or controversy seeking to lil strike-off or open a judgment obtained by
<br />confession pursuant to a warrant of attorney contained in the Note or Related Documents, or (ii) challenge the waiver of a right to prior
<br />notice and a hearing before judgment is entered, or after judgment is entered, but before executipn upon the judgment. Any claims,
<br />disputes or controversies challenging the confession of judgment shall be commenced and prosecuted in accordance with the procedures
<br />set forth, and in the forum specified by the applicable state rules of civil procedure or other applicable law.
<br />H. Real Property„ F royisions.
<br />If California law governs the Dispute, the following provisions are included:
<br />Real Property Collateral; Judicial Reference. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if
<br />the Dispute concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless lil the holder of the
<br />mortgage, lien or security interest specifically elects in writing to proceed with the arbitration, or lii) all parties to the arbitration waive any
<br />rights or benefits that might accrue to them by virtue of the single action rule statute of California, thereby agreeing that all indebtedness
<br />and pbligations of the parties, and all mortgages, liens and security interests securing such indebtedness and pbligations, shall remain fully
<br />valid and enforceable. If any such Dispute is not submitted to arbitration, the Dispute shall be referred to a referee in accordance with
<br />California Cpde pf Civil Procedure Section G38 et seq., and this general reference agreement is intended to be specifically enforceable in
<br />accordance with said Section 638. A referee with the qualificatipns required herein for arbitrators shall 6e selected pursuant to the AAA's
<br />selection procedures. Judgment upon the decision rendered by a referee shall be entered in the court in which such proceeding was
<br />commenced in accordance with California Code of Civil Procedure Sections 644 and 645.
<br />Small Claims Court. Any party may require that a Dispute be resolved in Small Claims Court if the Dispute and related claims are fully
<br />within that court's jurisdiction.
<br />If Idaho IawAoverns,t_he Dispute, the following provision is included:
<br />Real Property Collateral. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if the Dispute
<br />concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless lil the holder of the mortgage, lien or
<br />security interest specifically elects in writing to proceed with the arbitration, or liil all parties to the arbitration waive any rights or benefits
<br />that might accrue to them by virtue of the single action rule statute of Idaho, thereby agreeing that all indebtedness and obligations of the
<br />parties, and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid and enforceable.
<br />If Montana law governs the Disqute, the following provision is included:
<br />Real Property Collateral. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if the Dispute
<br />concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless li- the holder of the mortgage, lien or
<br />security interest specifically elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration waive any rights or benefits
<br />that might accrue to them by virtue of the single action rule statute of Montana, thereby agreeing that all indebtedness and pbligations of
<br />the parties, and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid and
<br />enforceable.
<br />If Nevada law governs the Dispute, the following provision Is included:
<br />Real Property Collateral. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if the Dispute
<br />concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless Ii1 the holder of the mortgage, lien or
<br />security interest specifically elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration waive any rights or benefits
<br />that might accrue to them by virtue of the single action rule statute of Nevada, thereby agreeing that all indebtedness and obligations of
<br />the parties, and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid and
<br />enforceable.
<br />If South Dakota law governs the Disqute, the following provision is included:
<br />Real Property Collateral. Notwithstanding anything herein tp the contrary, no Dispute shall be submitted to arbitration if the Dispute
<br />concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless Ii1 the holder of the mortgage, lien or
<br />security interest specifically elects in writing to proceed with the arbitration, or lii- all parties to the arbitration waive any rights or benefits
<br />that might accrue to them by virtue of the single action rule statute of South Dakota, thereby agreeing that all indebtedness and obligations
<br />of the parties, and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid and
<br />enforceable.
<br />If Utah law governs the Dispute, the following provision is included:
<br />Real Property Collateral; Judicial Reference. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if
<br />the Dispute concerns indebtedness secured directly or indirectly, in whale or in part, by any real property unless lit the holder of the
<br />mortgage, lien or security interest specifically elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration waive any
<br />
|