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DEED OF TRUST 2 Q�, O Q� 7 S�
<br />(Continued) P��g 8
<br />Lender's aptian, may be added to the Inde6tedness and secured hereby.
<br />ASSOCIATION DF UNIT OWNEFtS. The following provisions apply if the Real Property has been submitted to unit ownership law or similar
<br />law fpr the estahlishment of condominiums or cnoperative ownership of the Real Property:
<br />A. Power of Attomey. TrustnrlGrantor grants an irrevocable power of attorney to Lender to vote in Lender's discretion on any matter that
<br />may come before the association of unit owners. Lender shall have the right tn exercise this power of attomey only after
<br />7rustnr's/Grantor's default; however, Lender may decline to exercise this power as Lender sees fit.
<br />B. Insurance. The insurance as required herein may be carried by the associatiqn of unit awners on Trustpr's/Grantor's behalf, and the
<br />proceeds of such insurance mey be paid to the association of unit owners for the purpose af repairing or rsconstructing the Property. If not
<br />so used by the associetion, such proceeds shall ba paid to Lendar.
<br />C. pefeult. 7rustor's/Grantar's failure to perform any pf the obligations imposed an Trustor/Grantor by the declaration submitting the Real
<br />Proparty to unit ownership, 6y the 6ylews of the association of unit owners, or by any rulas or regulatipns thereunder, shall be an event of
<br />default under this Daed qf Trust. If Trustor's/Grantor's interest in the Real Prpperty is a leasehold interest and such property has 6een
<br />submitted to unit ownership, any failure by Trustar/Grantor to parform any of the obligations imposed on Trustor/Grantor by the lease of
<br />the Real Property frpm its owner, any defaulC under such lease which might result in termination of the lease as it pertains to the Real
<br />Property, or any failure of Trustor/Grantor as a memher of an assaciation of unit owners to take any reasonable action within
<br />Trustor's/Grantor's power to prevent e default under such lease by the association of unit owners or by any member of the association
<br />shall be an Event of Default under this peed of Trust.
<br />ARBITRATIQN AGREEMEN7'. Arbitration - Binding Arbitration. Lender and each party to this agreement hereby agree, upon demand by any
<br />perty, to submit any Dispute to binding arbitration in accordance with the terms of this Arbitration program. A"Dispute" shall include any
<br />dispute, claim or controversy of any kind, whether in contract or in tort, legal pr equitable, nnw existing nr hareafter arising, relating in sny
<br />way to any aspect of this agreement, or any related agreement incorporating this Arbitration Program (the "Documents"1, ar any renewal,
<br />extension, modification or refinancing of any indebtedness ar obligation relating thereto, including without limitatinn, thair negotiation,
<br />execution, collateralization, administration, repayment, modification, extension, substitution, tormation, inducement, enfprcement, default
<br />or termina#ion'. �ISPUTES SUBMITTED 70 ARBITRATION ARE NOT RESOLV�b IN COUR7 BY A JUDGE Ofi JURY.
<br />A. Governing Rules Any arbitration proceeding will (i) be governed by the Federal Arbitration Act (Title 9 of the United States Code�,
<br />notwithstanding any conflicting choice of law provision in any of the documents between the parties; and (ii) be conducted by the
<br />American Arbitration Association ("AAA"1, or such other administrator as the parties shall mutually agree upon, in accordance with the
<br />AAA's commercial dispute resolution prncedures, unless the claim or counterclaim is at least 51,000,000.00 exclusive of claimed interest,
<br />arbitration fees and costs, in which case the arbitration shall be conducted in accordance with the AAA's optional procedures fpr large,
<br />complex commercial disputes (the commercial dispute resolution procedures or the nptional procedures for large, complex commercial
<br />disputes are referred to herein, as applicable, as the "Rules"1. If there is any inconsistency between the terms hereof and the fiules, the
<br />terms and procedures set forth herein shall control. Arbitration proceedings hereunder shall be conducted at a Ipcation mutually agree�ble
<br />to the parties, qr if they cannot agrse, then at a Iocation selected by the AAA in ths state of the applicable substantive law primarily
<br />governing the Note. Any party wha fails or refuses to submit to arbitration following a demand by any other party shall bear all costs and
<br />expenses incurred by such other party in compelling arbitration of any Dispute. Arbitration may be demanded at any time, and may be
<br />compelled by s�mmary proceedings in Court. The institution and maintenance tif an action for judicial relief or pursuit of a provisional or
<br />ancillary remedy shall not constitute a waiver af the right of eny party, including the plaintiff, to submit the aontroversy or claim to
<br />arpitration if any other party contests such action for judicial relief. The arbitrator shall award all costs and expenses of the arbitration
<br />proceeding. Nothing contained herein shall be deemed to be a waiver by any party that is a bank af the protectians afforded to it under 12
<br />U.S.C. Section 91 or sny similar applicable state law.
<br />B. No Waiver of Provisional Remedies, Self-Hel and Foreclosure. The arbitration requirement daes not limit the right of any party ta (i)
<br />foreclose egainst real or personal property collaterat; (ii) exercise self-hslp remedies relating to collateral or proceeds of collateral such as
<br />setoff or repossession; or (iii) obtain provisional or ancillary remedies such as replevin, injunctive relief, attachment or the appointment of a
<br />receiver, bafore during or after the pendency of any arbitration procesding. ?his exclusion does not constitute a waiver of the right or
<br />obligation of any party to submit any Dispute to erbitratian or reference hareunder, including those arising from the exercise of the actinns
<br />detailed in sections (i►, (ii) and (iii) af this paragraph.
<br />C. Arbitrator Qualifications and Powers. Any arbitratian proceeding in which the amaunt in cantroversy is .$5,p00,000.00 or less will ba
<br />decided by a single arbitrator selected according to the Rules, and who shall not render an award of gre�ter than $5,000,000.00. Any
<br />Dispute in which the amount in cantroversy exceeds 55,000,000.00 shall be decided by majority vate of a panel of three arbitrators;
<br />provided however, that all three arbitrators must actively participate in all hearings and deli6erations. Every arbitrator must be a neutral
<br />practicing attorney ar s retired member of the state or federal judiciary, in either case with a minimum of ten years experience in the
<br />substantive law applicable ta the subject matter of the Dispute. The arbitrator will determine whether or not an issue is arbitratable and
<br />will give effect to tha statutes of limitatian in determining any claim. In any arbitration proceeding the arbitratar will decidp (6y documents
<br />only or with a hearing at the arbitrator's discretion) any pre-hearing motions which are similar to motions to dismiss for failure to state a
<br />claim or mo[ions for summary adjudication. The arbitrator shall resolve all Disputas in accordance with the applicable substantive law and
<br />may grant any remedy or relisf that a court of such state could order or grant within the scope hereof and such ancillary relief as is
<br />necessary to make effective any award. The arbitrator shall also have the power to award recovery of all costs and fees, to impose
<br />sanctions and to take such vther action as the arbitrator daams necessary to the same extent a judge could pursuant to the Federal Rulss
<br />of Civil Procedure, the applicable state rules of civil procedure, or other applicable law. Judgment upon the award rendered by the
<br />arbitratar may be entared in any court hsving jurisdiction. The institution and maintenance of an action for judicial relief or pursuit of a
<br />provisional or ancillary remedy ahall not constitute a waiver nf the right of any party, including the plaintiff, to submit the controversy ar
<br />claim to arbitration if any other party contests such action for judicial relief.
<br />D. Discovery, In any arbitration proceeding discavery will be permitted in accordence with tha Rules. All discovery shall be expressly
<br />limited to matters directly relevant to the Dispute baing arbitrated and must be completed no later than 20 days before the hearing date.
<br />Any requests for an extension of the discovery periads, or any discovery disputes, will be subject to final determination by the arbitrator
<br />upon a showing that the request for discovery is essential for #he party's presentation and that no alternative means for obtaining
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