OF THE PERSON, ENTITY OR
BODY POLITIC RECEIVING SUCH PAYMENT.
HOLDER AND ITS DESIGNEES SHALL HAVE THE
RIGHT TO ENTER UPON THE PROPERTY AT ANY TIME AND FROM TIME TO TIME FOR ANY SUCH
PURPOSES.
NO SUCH PAYMENT OR PERFORMANCE BY HOLDER OR LENDERS SHALL WAIVE OR
CURE ANY DEFAULT OR WAIVE ANY RIGHT, REMEDY OR RECOURSE OF HOLDER OR LENDERS.
ANY SUCH PAYMENT MAY BE MADE BY HOLDER OR LENDERS IN RELIANCE ON ANY STATEMENT,
INVOICE OR CLAIM WITHOUT INQUIRY INTO THE VALIDITY OR ACCURACY THEREOF.
EACH
AMOUNT DUE AND OWING BY GRANTOR TO HOLDER OR LENDERS PURSUANT TO THIS DEED OF
TRUST SHALL BEAR INTEREST, FROM THE DATE SUCH AMOUNT BECOMES DUE UNTIL PAID, AT
THE RATE PER ANNUM PROVIDED IN THE CREDIT AGREEMENT FOR INTEREST ON PAST-DUE
PRINCIPAL OWED ON THE LOAN BUT NEVER IN EXCESS OF THE MAXIMUM NONUSURIOUS AMOUNT
PERMITTED BY APPLICABLE LAW, WHICH INTEREST SHALL BE PAYABLE TO HOLDER ON DEMAND
FOR ITS OWN ACCOUNT OR THE ACCOUNT OF LENDERS, AS APPLICABLE; AND ALL SUCH
AMOUNTS, TOGETHER WITH SUCH INTEREST THEREON, SHALL AUTOMATICALLY AND WITHOUT
NOTICE BE A PART OF THE SECURED INDEBTEDNESS.
THE AMOUNT AND NATURE OF ANY
EXPENSE BY HOLDER OR LENDERS HEREUNDER AND THE TIME WHEN PAID SHALL BE FULLY
ESTABLISHED BY THE CERTIFICATE OF HOLDER OR ANY OF HOLDER'S OFFICERS OR AGENTS.
SECTION 2.3
ABSENCE OF OBLIGATIONS OF
HOLDER AND LENDERS WITH RESPECT TO PROPERTY.
NOTWITHSTANDING ANYTHING IN THIS
DEED OF TRUST TO THE CONTRARY, INCLUDING THE DEFINITION OF "PROPERTY" AND/OR THE
PROVISIONS OF ARTICLE 3 HEREOF, (I) TO THE EXTENT PERMITTED BY APPLICABLE LAW,
THE PROPERTY IS COMPOSED OF GRANTOR'S RIGHTS, TITLE AND INTERESTS THEREIN BUT
NOT GRANTOR'S OBLIGATIONS, DUTIES OR LIABILITIES PERTAINING THERETO, (II) HOLDER
AND LENDERS NEITHER ASSUME NOR SHALL HAVE ANY OBLIGATIONS, DUTIES OR LIABILITIES
IN CONNECTION WITH ANY PORTION OF THE ITEMS DESCRIBED IN THE DEFINITION OF
"PROPERTY" HEREIN, EITHER PRIOR TO OR AFTER OBTAINING TITLE TO SUCH PROPERTY,
WHETHER BY FORECLOSURE SALE, THE GRANTING OF A DEED IN LIEU OF FORECLOSURE OR
OTHERWISE, AND (III) HOLDER MAY, AT ANY TIME PRIOR TO OR AFTER THE ACQUISITION
OF TITLE TO ANY PORTION OF THE PROPERTY AS ABOVE DESCRIBED, ADVISE ANY PARTY IN
WRITING AS TO THE EXTENT OF HOLDER'S AND LENDERS' INTEREST THEREIN AND/OR
EXPRESSLY DISAFFIRM IN WRITING ANY RIGHTS, INTERESTS, OBLIGATIONS, DUTIES AND/OR
LIABILITIES WITH RESPECT TO SUCH PROPERTY OR MATTERS RELATED THERETO.
WITHOUT
LIMITING THE GENERALITY OF THE FOREGOING, IT IS UNDERSTOOD AND AGREED THAT
NEITHER HOLDER NOR LENDERS SHALL HAVE ANY OBLIGATIONS, DUTIES OR LIABILITIES
PRIOR TO OR AFTER ACQUISITION OF TITLE TO ANY PORTION OF THE PROPERTY, AS LESSEE
UNDER ANY LEASE OR PURCHASER OR SELLER UNDER ANY CONTRACT OR OPTION UNLESS
HOLDER ELECTS OTHERWISE BY WRITTEN NOTIFICATION.
SECTION 2.4
AUTHORIZATION TO FILE FINANCING
STATEMENTS; POWER OF ATTORNEY.
GRANTOR HEREBY AUTHORIZES HOLDER AT ANY TIME AND
FROM TIME TO TIME TO FILE ANY INITIAL FINANCING STATEMENTS, AMENDMENTS THERETO
AND CONTINUATION STATEMENTS AS AUTHORIZED BY APPLICABLE LAW, REQUIRED BY HOLDER
TO ESTABLISH