IN THE EVENT OF ACCELERATION.
ALL INTEREST PAID OR AGREED TO
BE PAID TO HOLDER AND LENDERS SHALL, TO THE EXTENT PERMITTED BY APPLICABLE LAW,
BE AMORTIZED, PRORATED, ALLOCATED AND SPREAD THROUGHOUT THE FULL STATED TERM
(INCLUDING ANY RENEWAL OR EXTENSION) OF THE SECURED INDEBTEDNESS SO THAT THE
AMOUNT OF INTEREST ON ACCOUNT OF SUCH INDEBTEDNESS DOES NOT EXCEED THE MAXIMUM
AMOUNT.
AS USED IN THIS SECTION, THE TERM "APPLICABLE LAW" SHALL MEAN THE LAWS
OF THE STATE OF CALIFORNIA OR THE FEDERAL LAWS OF THE UNITED STATES APPLICABLE
TO THIS TRANSACTION, WHICHEVER LAWS ALLOW THE GREATER INTEREST, AS SUCH LAWS NOW
EXIST OR MAY BE CHANGED OR AMENDED OR COME INTO EFFECT IN THE FUTURE.
SECTION 6.12
SUBSTITUTE TRUSTEE.
TRUSTEE MAY
RESIGN BY AN INSTRUMENT IN WRITING ADDRESSED TO HOLDER OR TRUSTEE MAY BE REMOVED
AT ANY TIME WITH OR WITHOUT CAUSE BY AN INSTRUMENT IN WRITING EXECUTED BY
HOLDER.
IN CASE OF THE RESIGNATION, REMOVAL OR DISQUALIFICATION OF TRUSTEE, OR
IF FOR ANY REASON HOLDER SHALL DEEM IT DESIRABLE TO APPOINT A SUBSTITUTE OR
SUCCESSOR TRUSTEE TO ACT INSTEAD OF THE HEREIN-NAMED TRUSTEE OR ANY SUBSTITUTE
OR SUCCESSOR TRUSTEE, THEN HOLDER SHALL HAVE THE RIGHT AND IS HEREBY AUTHORIZED
AND EMPOWERED TO APPOINT A SUCCESSOR TRUSTEE(S) OR A SUBSTITUTE
TRUSTEE(S) WITHOUT ANY FORMALITY OTHER THAN APPOINTMENT AND DESIGNATION IN
WRITING EXECUTED BY HOLDER AND THE AUTHORITY HEREBY CONFERRED SHALL EXTEND TO
THE APPOINTMENT OF OTHER SUCCESSOR AND SUBSTITUTE TRUSTEES SUCCESSIVELY UNTIL
THE SECURED INDEBTEDNESS HAS BEEN PAID IN FULL OR UNTIL THE PROPERTY IS FULLY
AND FINALLY SOLD HEREUNDER.
IF HOLDER IS A CORPORATION OR
35
ASSOCIATION AND SUCH APPOINTMENT IS EXECUTED ON ITS BEHALF BY AN OFFICER OF SUCH
CORPORATION OR ASSOCIATION, SUCH APPOINTMENT SHALL BE CONCLUSIVELY PRESUMED TO
BE EXECUTED WITH AUTHORITY AND SHALL BE VALID AND SUFFICIENT WITHOUT PROOF OF
ANY ACTION BY THE BOARD OF DIRECTORS OR ANY SUPERIOR OFFICER OF THE CORPORATION
OR ASSOCIATION.
UPON THE MAKING OF ANY SUCH APPOINTMENT AND DESIGNATION, ALL OF
THE ESTATE AND TITLE OF TRUSTEE IN THE PROPERTY SHALL VEST IN THE NAMED
SUCCESSOR OR SUBSTITUTE TRUSTEE(S) AND IT SHALL THEREUPON SUCCEED TO, AND SHALL
HOLD, POSSESS AND EXECUTE, ALL OF THE RIGHTS, POWERS, PRIVILEGES, IMMUNITIES AND
DUTIES HEREIN CONFERRED UPON TRUSTEE.
SECTION 6.13
NO LIABILITY OF TRUSTEE.
TRUSTEE
SHALL NOT BE LIABLE FOR ANY ERROR OF JUDGMENT OR ACT DONE BY TRUSTEE IN GOOD
FAITH, OR BE OTHERWISE RESPONSIBLE OR ACCOUNTABLE UNDER ANY CIRCUMSTANCES
WHATSOEVER (INCLUDING TRUSTEE'S NEGLIGENCE), EXCEPT FOR TRUSTEE'S GROSS
NEGLIGENCE OR WILLFUL MISCONDUCT.
TRUSTEE SHALL HAVE THE RIGHT TO RELY ON ANY
INSTRUMENT, DOCUMENT OR SIGNATURE AUTHORIZING OR SUPPORTING ANY ACTION TAKEN OR
PROPOSED TO BE TAKEN BY IT HEREUNDER, BELIEVED BY IT IN GOOD FAITH TO BE
GENUINE.
ALL MONEYS RECEIVED BY TRUSTEE SHALL, UNTIL USED OR APPLIED AS HEREIN
PROVIDED, BE HELD IN TRUST FOR THE PURPOSES FOR WHICH THEY WERE RECEIVED, BUT
NEED NOT BE SEGREGATED IN ANY MANNER FROM ANY OTHER MONEYS (EXCEPT TO THE EXTENT
REQUIRED BY