PROPERTY, THERE SHALL BE NO MERGER OF THE ESTATE CREATED BY THIS SECURITY
INSTRUMENT WITHIN THE FEE ESTATE IN THE PROPERTY.
39.
CONCERNING THE TRUSTEE:
(A)
TRUSTEE ACCEPTS THE TRUST CREATED BY THIS SECURITY INSTRUMENT WHEN
THIS SECURITY INSTRUMENT, DULY EXECUTED AND ACKNOWLEDGED, IS MADE A PUBLIC
RECORD AS PROVIDED BY LAW.
(B)
TRUSTEE IS NOT OBLIGATED TO NOTIFY ANY PARTY HERETO OF PENDING
SALE UNDER ANY OTHER DEED OF TRUST OR OF ANY ACTION OR PROCEEDING IN WHICH
BORROWER, LENDER OR TRUSTEE SHALL BE A PARTY, UNLESS BROUGHT BY TRUSTEE.
(C)
TRUSTEE SHALL BE UNDER NO DUTY TO TAKE ANY ACTION HEREUNDER EXCEPT
AS EXPRESSLY REQUIRED HEREUNDER OR BY LAW, OR TO PERFORM ANY ACT WHICH WOULD
INVOLVE TRUSTEE IN ANY EXPENSE OR LIABILITY OR TO INSTITUTE OR DEFEND ANY SUIT
IN RESPECT HEREOF, UNLESS PROPERLY INDEMNIFIED TO TRUSTEE'S REASONABLE
SATISFACTION.
TRUSTEE, BY ACCEPTANCE OF THIS SECURITY INSTRUMENT, COVENANTS TO
PERFORM AND FULFILL THE TRUSTS HEREIN CREATED, BEING LIABLE, HOWEVER, ONLY FOR
GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, AND HEREBY WAIVES ANY STATUTORY FEE AND
AGREES TO ACCEPT REASONABLE COMPENSATION, IN LIEU THEREOF, FOR ANY SERVICES
RENDERED BY TRUSTEE IN ACCORDANCE WITH THE TERMS HEREOF.
TRUSTEE MAY RESIGN AT
ANY TIME UPON GIVING THIRTY (30) DAYS' NOTICE TO BORROWER AND TO LENDER.
LENDER
MAY REMOVE TRUSTEE AT ANY TIME OR FROM TIME TO TIME AND SELECT A SUCCESSOR
TRUSTEE.
IN THE EVENT OF THE DEATH, REMOVAL, RESIGNATION, REFUSAL TO ACT, OR
INABILITY TO ACT OF TRUSTEE, OR IN ITS SOLE DISCRETION FOR ANY REASON WHATSOEVER
LENDER MAY, WITHOUT NOTICE AND WITHOUT SPECIFYING ANY REASON THEREFOR AND
WITHOUT APPLYING TO ANY COURT, SELECT AND APPOINT A SUCCESSOR TRUSTEE, BY AN
INSTRUMENT RECORDED WHEREVER THIS SECURITY INSTRUMENT IS RECORDED AND ALL
POWERS, RIGHTS, DUTIES AND AUTHORITY OF TRUSTEE, AS AFORESAID, SHALL THEREUPON
BECOME VESTED IN SUCH SUCCESSOR WITHOUT CONVEYANCE FROM THE PREDECESSOR
TRUSTEE.
SUCH INSTRUMENT MUST CONTAIN THE NAME OF THE ORIGINAL BORROWER,
TRUSTEE AND LENDER HEREUNDER, THE BOOK AND PAGE WHERE THIS SECURITY INSTRUMENT
IS RECORDED, AND THE NAME AND ADDRESS OF THE NEW TRUSTEE.
SUCH SUBSTITUTE
TRUSTEE SHALL NOT BE REQUIRED TO GIVE BOND FOR THE FAITHFUL PERFORMANCE OF THE
DUTIES OF TRUSTEE HEREUNDER UNLESS REQUIRED BY LENDER.
THE PROCEDURE PROVIDED
FOR IN THIS PARAGRAPH FOR SUBSTITUTION OF TRUSTEE SHALL BE IN ADDITION TO AND
NOT IN EXCLUSION OF ANY OTHER PROVISIONS FOR SUBSTITUTION, BY LAW OR OTHERWISE.
(D)
TRUSTEE SHALL BE ENTITLED TO REASONABLE COMPENSATION FOR ALL
SERVICES RENDERED OR EXPENSES INCURRED IN THE ADMINISTRATION OR EXECUTION OF THE
TRUSTS HEREBY CREATED AND BORROWER HEREBY AGREES TO PAY SAME.
TRUSTEE AND
LENDER SHALL BE INDEMNIFIED, HELD HARMLESS AND REIMBURSED BY BORROWER FOR ANY
LIABILITY, DAMAGE OR EXPENSE, INCLUDING ATTORNEYS' FEES AND AMOUNTS PAID IN
SETTLEMENT, WHICH THEY OR EITHER OF THEM MAY INCUR OR SUSTAIN IN THE EXECUTION
OF THIS TRUST OR IN THE DOING OF ANY ACT WHICH THEY, OR EITHER OF THEM, ARE
REQUIRED OR PERMITTED TO DO BY THE TERMS HEREOF OR BY LAW EXCEPT