SHALL BE EFFECTIVE ONLY IN THE SPECIFIC INSTANCE, FOR THE PURPOSE FOR
WHICH GIVEN AND TO THE EXTENT THEREIN SPECIFIED.
NO NOTICE TO OR DEMAND ON
GRANTOR IN ANY CASE SHALL OF ITSELF ENTITLE GRANTOR TO ANY OTHER OR FURTHER
NOTICE OR DEMAND IN SIMILAR OR OTHER CIRCUMSTANCES.
SECTION 6.5
NO IMPAIRMENT OF SECURITY.
THE LIEN, SECURITY INTEREST AND
OTHER SECURITY RIGHTS OF HOLDER AND LENDERS HEREUNDER OR UNDER ANY OTHER LOAN
DOCUMENT SHALL NOT BE IMPAIRED BY ANY INDULGENCE, MORATORIUM OR RELEASE GRANTED
BY HOLDER INCLUDING ANY RENEWAL, EXTENSION OR MODIFICATION WHICH HOLDER MAY
GRANT WITH RESPECT TO ANY SECURED INDEBTEDNESS, OR ANY SURRENDER, COMPROMISE,
RELEASE, RENEWAL, EXTENSION, EXCHANGE OR SUBSTITUTION WHICH HOLDER MAY GRANT IN
RESPECT OF THE PROPERTY, OR ANY PART THEREOF OR ANY INTEREST THEREIN, OR ANY
RELEASE OR INDULGENCE GRANTED TO ANY ENDORSER, GUARANTOR OR SURETY OF ANY
SECURED INDEBTEDNESS.
THE TAKING OF ADDITIONAL SECURITY BY HOLDER AND LENDERS
SHALL NOT RELEASE OR IMPAIR THE LIEN, SECURITY INTEREST OR OTHER SECURITY RIGHTS
OF HOLDER AND LENDERS HEREUNDER OR AFFECT THE LIABILITY OF BORROWERS OR THE
GRANTOR OR OF ANY ENDORSER, GUARANTOR OR SURETY, OR IMPROVE THE RIGHT OF ANY
JUNIOR LIENHOLDER IN THE PROPERTY (WITHOUT IMPLYING HEREBY ANY CONSENT TO ANY
JUNIOR LIEN BY HOLDER OR LENDERS).
SECTION 6.6
GRANTOR'S SUCCESSORS.
IF THE OWNERSHIP OF THE PROPERTY OR
ANY PART THEREOF BECOMES VESTED IN A PERSON OTHER THAN GRANTOR, HOLDER MAY, ON
BEHALF OF ITSELF AND LENDERS, WITHOUT NOTICE TO GRANTOR, DEAL WITH SUCH
SUCCESSOR OR SUCCESSORS IN INTEREST WITH REFERENCE TO THIS DEED OF TRUST AND TO
THE SECURED INDEBTEDNESS IN THE SAME MANNER AS WITH GRANTOR, WITHOUT IN ANY WAY
VITIATING OR DISCHARGING GRANTOR'S LIABILITY HEREUNDER OR ITS LIABILITY FOR THE
PAYMENT OF THE SECURED INDEBTEDNESS OR PERFORMANCE OF THE OBLIGATIONS SECURED
HEREBY.
NO TRANSFER OF THE PROPERTY, NO FORBEARANCE ON THE PART OF HOLDER, AND
NO EXTENSION OF THE TIME FOR THE PAYMENT OF THE SECURED INDEBTEDNESS GIVEN BY
HOLDER SHALL OPERATE TO RELEASE, DISCHARGE, MODIFY, CHANGE OR
32
AFFECT, IN WHOLE OR IN PART, THE LIABILITY OF GRANTOR HEREUNDER FOR THE PAYMENT
OF THE SECURED INDEBTEDNESS OR PERFORMANCE OF THE OBLIGATIONS SECURED HEREBY OR
THE LIABILITY OF ANY OTHER PERSON HEREUNDER FOR THE PAYMENT OF THE SECURED
INDEBTEDNESS.
GRANTOR AGREES THAT IT SHALL BE BOUND BY ANY MODIFICATION OF THIS
DEED OF TRUST OR ANY OF THE OTHER LOAN DOCUMENTS MADE BY HOLDER ON BEHALF OF
ITSELF AND LENDERS AND ANY SUBSEQUENT OWNER OF THE PROPERTY, WITH OR WITHOUT
NOTICE TO SUCH GRANTOR, AND NO SUCH MODIFICATIONS SHALL IMPAIR THE OBLIGATIONS
OF SUCH GRANTOR UNDER THIS DEED OF TRUST OR ANY OTHER LOAN DOCUMENT.
NOTHING IN
THIS SECTION OR ELSEWHERE IN THIS DEED OF TRUST SHALL BE CONSTRUED TO IMPLY ANY
CONSENT BY HOLDER OR LENDERS TO ANY TRANSFER OF THE PROPERTY.
SECTION 6.7
PLACE OF PAYMENT; FORUM.
ALL SECURED INDEBTEDNESS WHICH MAY
BE OWING HEREUNDER AT ANY TIME BY BORROWERS OR GRANTOR SHALL BE PAYABLE AT THE
PLACE DESIGNATED