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<br />indicated at the end of this Mortgage), or at such other place as Administrative Agent may
<br />designate in writing.
<br />Section S.1 �. Subrogation to Ex.istin� Liens. To the extent that proce�ds of the Notes
<br />are used to pay indebtedness secured by any outstanding Lien, privilege, security interest, charge
<br />or prior encumbrance against the Property, such praceeds have been advanced at Mortgagor's
<br />request, and the party or parties advancing the same shall be subrogated to any and all rights,
<br />security interests, privileges, and Liens awned by any own.e�r or holder of such outstanding Liens,
<br />privileges, security interests, charges or encumbrances, irresp�ctive of whether said Liens,
<br />privileges, security interests, charges or encumbrances are released, and it is expressly
<br />understood that, in consideration of the payment of such indebtedness, Mortgagor hereby waives
<br />and releases all demands and causes of action for offsets and payments to, upon and in
<br />connectian with the said indebtedness.
<br />Section 5 .11. AppliCatiDn �pf Paymerlts to Certain Indebtednes5. If axxy part of the
<br />secured indebtedness cannot be lawfully secured by this Mortgage or if any part of the Property
<br />cannot be lawfully subject to the Lien, privilege, and secwrity interest hereof to the fiill extent of
<br />such indebtedness, then all payments made shall be applied on said indebtedness first in
<br />discharge of that portion thereof which is not secured by this Martgage.
<br />Section 5.12. Comnliance With,,, ,Usury„_„Laws. It is the intent of Mortgagor,
<br />Administrative Agent and all other parties to the Loan Documents and the Specified Swap
<br />Ag�reements and Specified Cash Management Agreements to contract in strict compliance with
<br />any applicable usury Requirement of Law from time to time in effect. In furtherance thereaf, it
<br />is stipulated and agreed that none of the terms and provisions contained herein, in the other Loan
<br />Documents or in any Speeified Swap Agreement or any Speci�ied Cash Management Agreement
<br />sha11 ever be construed ta create a contract to pay, for the use, forbearance or detention of
<br />money, interest in excess of the maximum amount of interest permitted to be collected, charged,
<br />taken, reserved, ar received by any applicable Requirernent of Law from time to time in effect.
<br />Section 5.13. Substitute Trustee. The Trustee may resign by an instniment in writing
<br />addressed to Administrative Agent, or Trustee may be removed at any time with or without cause
<br />by an instrument in. writing execut�d by Administrative Agent. In case of the death, resignation,
<br />removal, or disqualification of Trustee, or if for ar�y reason Administrative Agent shall deem it
<br />desirable to appaint a substitute or successar trustee to act instead of the k�erein named trustee or
<br />any substitute or successor trustee, then Administrative Agent shall have the right and is hereby
<br />autharized and empowered to appoint a succ�ssar trttstee, or a substitute trustee, without other
<br />foxmality than appointment and designation in. writing executed by Administrative Agent, and, in
<br />Administrative Agent's discretion, recorded in the office of the county recorder where any
<br />portion of the Property is located, and the authority hereby conferr�d shall extend to the
<br />appointment of other successor and substitute tnistees successively until the indebtedness
<br />secured hereby has been paid in full, ox until t�e Pxoperty is sold hereunder. In the event the
<br />secured indebtedness is owned by more than on� persan or entity, the holder or holders of not
<br />less than a majority in the amount of such indebtedness shall have the right and authority ta
<br />make the appointment of a successor or substitute trustee as provided far in the preceding
<br />sentence or to remove Trustee as provided iz� the ftrst sentence of this section. Such appointment
<br />and designation by Administrative Agent, or by the holder ar holders of not less than a majority
<br />. ;�
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