THIS SECURITY INSTRUMENT
SPECIFICALLY AND EXPRESSLY PROVIDES FOR THE GIVING OF NOTICE BY BENEFICIARY TO
TRUSTOR AND EXCEPT WITH RESPECT TO MATTERS FOR WHICH BENEFICIARY IS REQUIRED BY
APPLICABLE LAW TO GIVE NOTICE, AND TRUSTOR HEREBY EXPRESSLY WAIVES THE RIGHT TO
RECEIVE ANY NOTICE FROM BENEFICIARY WITH RESPECT TO ANY MATTER FOR WHICH THIS
SECURITY INSTRUMENT DOES NOT SPECIFICALLY AND EXPRESSLY PROVIDE FOR THE GIVING
OF NOTICE BY BENEFICIARY TO TRUSTOR.
SECTION 9.4.
WAIVER OF STATUTE OF LIMITATIONS.
TO THE EXTENT
PERMITTED BY APPLICABLE LAW, TRUSTOR HEREBY EXPRESSLY WAIVES AND RELEASES TO THE
FULLEST EXTENT PERMITTED BY LAW, THE PLEADING OF ANY STATUTE OF LIMITATIONS AS A
DEFENSE TO PAYMENT OF THE DEBT OR PERFORMANCE OF ITS OTHER OBLIGATIONS.
SECTION 9.5.
SURVIVAL.
THE INDEMNIFICATIONS MADE PURSUANT TO SECTION
8.1 AND SECTION 8.3 SHALL CONTINUE INDEFINITELY IN FULL FORCE AND EFFECT AND
SHALL SURVIVE AND SHALL IN NO WAY BE IMPAIRED BY ANY OF THE FOLLOWING: ANY
SATISFACTION OR OTHER TERMINATION OF THIS SECURITY INSTRUMENT, ANY ASSIGNMENT OR
OTHER TRANSFER OF ALL OR ANY PORTION OF THIS SECURITY INSTRUMENT OR
BENEFICIARY'S INTEREST IN THE PROPERTY (BUT, IN SUCH CASE, SHALL BENEFIT BOTH
INDEMNIFIED PARTIES AND ANY ASSIGNEE OR TRANSFEREE), ANY EXERCISE OF
BENEFICIARY'S RIGHTS AND REMEDIES PURSUANT HERETO INCLUDING, BUT NOT LIMITED TO,
FORECLOSURE OR ACCEPTANCE OF A DEED IN LIEU OF FORECLOSURE, ANY EXERCISE OF ANY
RIGHTS AND REMEDIES PURSUANT TO THE LOAN AGREEMENT, THE NOTE OR ANY OF THE OTHER
LOAN DOCUMENTS, ANY TRANSFER OF ALL OR ANY PORTION OF THE PROPERTY (WHETHER BY
TRUSTOR OR BY BENEFICIARY FOLLOWING FORECLOSURE OR ACCEPTANCE OF A DEED IN LIEU
OF FORECLOSURE OR AT ANY OTHER TIME), ANY AMENDMENT TO THIS SECURITY INSTRUMENT,
THE LOAN AGREEMENT, THE NOTE OR THE OTHER LOAN DOCUMENTS, AND ANY ACT OR
OMISSION THAT MIGHT OTHERWISE BE CONSTRUED AS A RELEASE OR DISCHARGE OF TRUSTOR
FROM THE OBLIGATIONS PURSUANT HERETO.
ARTICLE X.
EXCULPATION
The provisions of Section 9.4 of the Loan Agreement are hereby incorporated by
reference into this Security Instrument to the same extent and with the same
force as if fully set forth herein.
ARTICLE XI.
NOTICES
All notices or other written communications under this Security Instrument shall
be delivered in accordance with Section 10.6 of the Loan Agreement.
ARTICLE XII.
APPLICABLE LAW
SECTION 12.1.
GOVERNING LAW.
THIS SECURITY INSTRUMENT SHALL BE
GOVERNED IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF SECTION 10.3 OF THE LOAN
AGREEMENT.
SECTION 12.2.
USURY LAWS.
NOTWITHSTANDING ANYTHING TO THE CONTRARY (A)
ALL AGREEMENTS AND COMMUNICATIONS BETWEEN TRUSTOR AND BENEFICIARY ARE HEREBY AND
SHALL AUTOMATICALLY BE
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LIMITED SO THAT, AFTER TAKING INTO ACCOUNT ALL AMOUNTS DEEMED INTEREST, THE
INTEREST CONTRACTED FOR, CHARGED OR RECEIVED BY BENEFICIARY SHALL NEVER EXCEED
THE MAXIMUM LEGAL RATE OR AMOUNT, (B) IN CALCULATING WHETHER ANY INTEREST
EXCEEDS THE MAXIMUM LEGAL RATE, ALL SUCH INTEREST SHALL BE AMORTIZED, PRORATED,
ALLOCATED AND SPREAD OVER THE FULL AMOUNT AND TERM OF ALL PRINCIPAL INDEBTEDNESS
OF TRUSTOR TO BENEFICIARY, AND (C) IF THROUGH ANY CONTINGENCY OR EVENT,