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:rt ��' �r�9��LYK.� � � • `'1 20.��553� 0 10491� the right of any junior lienholder in the Mortgaged Properiy (without implying hereby Beneficiary's Consent to any junior lien), Section 6.6 Acts Not Constituting Waiver by Beneficiary. Beneficiary may waive any default without waiving any other prior or subsequent default. Beneficiary may remedy any default without waiving the default remedied. Neither failure by Beneficiary to exercise, nor delay by Beneficiary in exercising, nor discontinuance of the exercise of any right, power or remedy (including but not limited to the right to accelerate the maturity of the Obligations or any part thereo fl upon or after any default shall be construed as a waiver of such default or as a waiver of the right to exercise any such right, power or remedy at a later date. No single or partial exercise by Beneficiary of any right, power or remedy hereunder shall exhaust the same or shall preclude any other or further exercise thereof, and every such right, power or remedy hereunder may be exercised at any time and from time to time. No modification or waiver of any provision hereof nor consent to any depariure by Trustor therefrom shall in any event be effective unless the same shall be in writing and signed by Beneficiary and then such waiver or consent shall be effective only in the specific instance, for the purpose for which given and to the extent therein specified. No notice to nor demand on Tnzstor in any case shall of itself entitle Trustor to any other or further notice or demand in similaz or other circumstances. Remittances in payment of any part of the Obligations other than in the required amount in immediately available U.S. funds shall not, regardless of any receipt or credit issued therefor, constitute payment until the required amount is actually received by Beneficiary in immediately available U.S. funds and shall be made and accepted subject to the condition that any check or draft may be handled for collection in accordance with the practice of Beneficiary. Acceptance by Beneficiary of any payment in an amount less than the amount then due on any Obligation shall be deemed an acceptance on account only and shall not in any way excuse the existence of a default hereunder. Section 6.7 Trustor's Successors. If the ownership of the Mortgaged Property or any part thereof becomes vested in a person other than Trustor, Beneficiary may, without norice to Trustor, deal with such successor or successors in interest with reference to this Deed of Trust and to the Obligations in the same manner as with Trustor, without in any way vitiating or dischazging Trustor's liability hereunder or for the payment or performance of the Obligations. No transfer of the Mortgaged Property, except to Beneficiary when expressly agreed to, no forbearance on the part of Beneficiary, and no extension of the time for the payment of the Obligations given by Beneficiary shall operate to release, discharge, modify, change or affect, in whole or in part, the liability of Trustor hereunder for the payment or performance of the Obligations or the liability of any other person hereunder for the payment of the Obligations. Each Trustor agrees that it shall be bound by any modification of this Deed of Trust or any of the other Credit Documents made by Beneficiary and any subsequent owner of the Mortgaged Property, with or without notice to such Trustor, and no such modifications shall impair the obligations of such Trustor under this Deed of Trust or any other Credit Document. Nothing in this Section 6.7 or elsewhere in this Deed of Trust shall be construed to imply Beneficiary's consent to any transfer of the Mortgaged Property. Section 6.8 Place of Payment. All Obligations which may be owing hereunder at any time by Trustor shall be payable at the place designated in the Note, as the case may be (or, if no such designarion is made, at the address of Beneficiary indicated in Section 6.26). Section 6.9 Subrogation to Existing Liens. To the extent that proceeds of the Obligations are used to pay indebtedness secured by any outstanding lien, security interest, charge or prior encumbrance against the Mortgaged Property, such proceeds have been advanced by Beneficiary at Trustor's request, and Beneficiary sha11 be subrogated to any and all rights, security interest and liens owned by any owner or holder of such outstanding liens, security interests, charges or encumbrances, however remote, inespective of whether said liens, security interests, charges or encumbrances are released, and all of the same are recognized as valid and subsisting and are renewed and continued and merged herein to secure the Obligations, but the terms and provisions of this Deed of Trust shall govern and control the manner and terms of enforcement of the liens, security interests, chazges and encumbrances to which Beneficiary is subrogated hereunder. It is expressly understood that in consideration of the payment of such indebtedness by Beneficiary, Trustor hereby waives and releases all demands and causes of action for offsets and payments in connection with the said indebtedness. Section 6.10 Application of Payments to Certain Obligations. If any part of the Obligations cannot be lawfully secured by this Deed of Trust or if any part of the Mortgaged Properly cannot be lawfully subject to the lien and security interest hereof to the full extent of the Obligations, then a11 payments made shall, unless otherwise DOCS/1045503.1 17