ANY OF THE OTHER LOAN DOCUMENTS, IT IS THE INTENT OF THE
PARTIES HERETO THAT THE PROVISIONS OF THIS DEED OF TRUST SHALL CONTROL. THE
PARTIES HERETO ACKNOWLEDGE THAT THEY WERE REPRESENTED BY COMPETENT COUNSEL IN
CONNECTION WITH THE NEGOTIATION, DRAFTING AND EXECUTION OF THE LOAN DOCUMENTS
AND THAT SUCH LOAN DOCUMENTS SHALL NOT BE SUBJECT TO THE PRINCIPLE OF CONSTRUING
THEIR MEANING AGAINST THE PARTY WHICH DRAFTED SAME.
SUBROGATION. IF ANY OR ALL OF THE PROCEEDS OF THE NOTE HAVE BEEN USED TO
EXTINGUISH, EXTEND OR RENEW ANY INDEBTEDNESS HERETOFORE EXISTING AGAINST THE
MORTGAGED PROPERTY, THEN, TO THE EXTENT OF SUCH FUNDS SO USED, BENEFICIARY SHALL
BE SUBROGATED TO ALL OF THE RIGHTS, CLAIMS, LIENS, TITLES, AND INTERESTS
EXISTING AGAINST THE MORTGAGED PROPERTY HERETOFORE HELD BY, OR IN FAVOR OF, THE
HOLDER OF SUCH INDEBTEDNESS AND SUCH FORMER RIGHTS, CLAIMS, LIENS, TITLES, AND
INTERESTS, IF ANY, ARE NOT WAIVED BUT RATHER ARE CONTINUED IN FULL FORCE AND
EFFECT IN FAVOR OF BENEFICIARY AND ARE MERGED WITH THE LIEN AND SECURITY
INTEREST CREATED HEREIN AS CUMULATIVE SECURITY FOR THE REPAYMENT OF THE
INDEBTEDNESS AND THE PERFORMANCE AND DISCHARGE OF THE OBLIGATIONS.
RIGHTS CUMULATIVE. BENEFICIARY SHALL HAVE ALL RIGHTS, REMEDIES, AND RECOURSES
GRANTED IN THE LOAN DOCUMENTS AND AVAILABLE AT LAW OR IN EQUITY (INCLUDING,
THOSE GRANTED BY THE CODE AND APPLICABLE TO THE MORTGAGED PROPERTY OR ANY
PORTION THEREOF), AND THE SAME (I) SHALL BE CUMULATIVE AND CONCURRENT, (II) MAY
BE PURSUED SEPARATELY, SUCCESSIVELY, OR CONCURRENTLY AGAINST GRANTOR OR OTHERS
OBLIGATED FOR THE INDEBTEDNESS OR ANY PART THEREOF, OR AGAINST ANY ONE OR MORE
OF THEM, OR AGAINST THE MORTGAGED PROPERTY, AT THE SOLE DISCRETION OF
BENEFICIARY, (III) MAY BE EXERCISED AS OFTEN AS OCCASION THEREFOR SHALL ARISE,
IT BEING AGREED BY GRANTOR THAT THE EXERCISE, DISCONTINUANCE OF THE EXERCISE OF
OR FAILURE TO EXERCISE ANY OF THE SAME SHALL IN NO EVENT BE CONSTRUED AS A
WAIVER OR RELEASE THEREOF OR OF ANY OTHER RIGHT, REMEDY, OR RECOURSE, AND
(IV) ARE INTENDED TO BE, AND SHALL BE, NONEXCLUSIVE. ALL RIGHTS AND REMEDIES OF
BENEFICIARY HEREUNDER AND UNDER THE OTHER LOAN DOCUMENTS SHALL EXTEND TO ANY
PERIOD AFTER THE INITIATION OF FORECLOSURE PROCEEDINGS, JUDICIAL OR OTHERWISE,
WITH RESPECT TO THE MORTGAGED PROPERTY.
PAYMENTS. REMITTANCES IN PAYMENT OF ANY PART OF THE INDEBTEDNESS OTHER THAN IN
THE REQUIRED AMOUNT IN FUNDS IMMEDIATELY AVAILABLE AT THE PLACE WHERE THE NOTE
IS PAYABLE SHALL NOT, REGARDLESS OF ANY RECEIPT OR CREDIT ISSUED THEREFOR,
CONSTITUTE PAYMENT UNTIL THE REQUIRED AMOUNT IS ACTUALLY RECEIVED BY BENEFICIARY
IN FUNDS IMMEDIATELY AVAILABLE AT THE PLACE WHERE THE NOTE IS PAYABLE (OR SUCH
OTHER PLACE AS BENEFICIARY, IN BENEFICIARY'S SOLE DISCRETION, MAY HAVE
ESTABLISHED BY DELIVERY OF WRITTEN NOTICE THEREOF TO GRANTOR) AND SHALL BE MADE
AND ACCEPTED SUBJECT TO THE CONDITION THAT ANY CHECK OR DRAFT MAY BE HANDLED FOR
COLLECTION
Deed of Trust - Page 28
IN ACCORDANCE WITH THE PRACTICE OF THE COLLECTING BANK OR BANKS. ACCEPTANCE BY
BENEFICIARY OF ANY PAYMENT IN AN