201105508 - Laserfiche WebLink

Browse

�0��055Q� Section 7.3 Actions by Trustee. At any time, or from time to time, without liability therefor and without norice, upon written request of Beneficiary and presentarion of this Deed of Trust and the Notes for endorsement, and without affecting the personal liability of any person for payment of the Obligations or the effect of this Deed of Trust upon the remainder of the Mortgaged Property, Trustee may take such actions as Beneficiary may request and which are permitted by this Deed of Trust or by applicable law. Section 7.4 Substitution of Trustee. Beneficiaty has the power and shall be entitled, at any time and from time to time, in its sole discretion and without cause, to remove Trustee or any successor trustee and to substitute and appoint another trustee or trustees (either corporate or individual) in the place and stead of Trustee or any successor trustee, by written instivment duly executed and recorded in the Office of the county recorder of the county or counties where the Mortgaged: Property is situated, which instrument shall be conclusive proof of the proper substitution and appointment of such successor trustee or trustees, who shall have all the rights, title, estate, powers, duties and privileges of the predecessor trustee, without the necessity of any conveyance from such predecessor. Section 7.5 Waiver of Jury Trial. TO THE FULLEST EXTENT PERMITTED BY LAW, BORROWER AND LENDER HEREBY VJAIVE TI-�EIR RESPECTIVE RIGHT TO. TRIAL BY JURY IN ANY ACTION, PROCEEDING AND/0R HEARING ON ANY MATTER WHATSOEVER ARISING OUT OF, OR IN ANY WAY CONNECTED WITH, TI� NOTE, THIS DEED OF TRUST OR ANY OF TI� LOAN DOCUMENTS, OR TI� ENFORCEMENT OF ANY REMEDY UNDER ANY LAW, STATUTE, OR REGULATION. NEITI�R PARTY WII.,L SEEK TO CONSOLIDATE ANY SUCH ACTION IN WHICH A JIJRY HAS BEEN WAIVED, WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT OR HAS NOT BEEN WAIVED. EACH PARTY HAS RECEIVED TI� ADVICE OF COUNSEL WITH RESPECT TO THIS WAIVER Section 7.6 Intercreditor Agreement The terms of this Deed of Trust, any lien and security interest granted to the Beneficiary pwsuant to this Deed of Trust and the exercise of any right or remedy by the Beneficiary hereunder aze subject to the provisions of the Intercreditor Agreement. In the event of any inconsistency between the provisions of this Deed of Trust and the Intercreditor Agreement, the provisions of the Intercreditor Agreement shall supersede the provisions of this Deed of Trust. Section 7.7 Priority. The lien created by this Deed of Trust on the Mortgaged Property is junior and subordinate to the lien on such Mortgaged Property created by any mortgage, deed of trust or similar instrument now or hereafter granted to the Term Loan Lender (as defined in the Intercreditor Agreement), and its successors and assigns in such Mortgaged Property in accordance with the provisions of the Intercreditor Agreement. � [NO FURTI�R TEXT ON PAGE] 20