ANY OTHER RIGHTS AND
DEFENSES THAT ARE OR MAY BECOME AVAILABLE TO SUCH TRUSTOR BY REASON OF NEVADA
LAW, INCLUDING, TO THE EXTENT PERMITTED BY LAW, (I) THE BENEFIT OF ALL LAWS NOW
EXISTING OR THAT MAY HEREAFTER BE ENACTED PROVIDING FOR ANY APPRAISEMENT BEFORE
SALE OF ANY PORTION OF THE PROPERTY; (II) ALL RIGHTS OF REDEMPTION, VALUATION,
APPRAISEMENT, STAY OF EXECUTION, NOTICE OF ELECTION TO MATURE OR DECLARE DUE THE
WHOLE OF THE SECURED INDEBTEDNESS, AND MARSHALING IN THE EVENT OF FORECLOSURE OF
THE LIENS HEREBY CREATED; (III) ALL RIGHTS AND REMEDIES THAT TRUSTOR MAY HAVE OR
BE ABLE TO ASSERT BY REASON OF THE LAWS OF THE
29
STATE OF NEVADA PERTAINING TO THE RIGHTS AND REMEDIES OF SURETIES; (IV) THE
RIGHT TO ASSERT ANY STATUTE OF LIMITATIONS AS A BAR TO THE ENFORCEMENT OF THE
LIEN OF THIS SECURITY INSTRUMENT OR TO ANY ACTION BROUGHT TO ENFORCE THE NOTES
OR ANY OTHER OBLIGATION SECURED BY THIS SECURITY INSTRUMENT; (V) TRUSTOR'S RIGHT
TO NOTICE OF TERMINATION OF THE OPERATION OF INSTRUMENT UNDER NRS § 106.380; AND
(VI) ANY RIGHTS, LEGAL OR EQUITABLE, TO REQUIRE MARSHALING OF ASSETS OR TO
REQUIRE UPON FORECLOSURE SALES IN A PARTICULAR ORDER, INCLUDING, WITHOUT
LIMITATION, ANY RIGHTS UNDER NRS §§ 100.040 AND 100.050.
BENEFICIARY SHALL HAVE
THE RIGHT TO DETERMINE THE ORDER IN WHICH ANY OR ALL OF THE MORTGAGED PROPERTY
SHALL BE SUBJECTED TO THE REMEDIES PROVIDED HEREIN.
BENEFICIARY SHALL HAVE THE
RIGHT TO DETERMINE THE ORDER IN WHICH ANY OR ALL PORTIONS OF THE INDEBTEDNESS
SECURED HEREBY ARE SATISFIED FROM THE PROCEEDS REALIZED UPON THE EXERCISE OF THE
REMEDIES PROVIDED HEREIN.
NOTHING CONTAINED HEREIN SHALL BE DEEMED TO BE A
WAIVER OF TRUSTOR'S RIGHTS UNDER NRS § 40.462.
(B)
TRUSTOR WAIVES ALL RIGHTS AND DEFENSES AFFECTING ENFORCEMENT OF
THIS SECURITY INSTRUMENT THAT TRUSTOR MAY HAVE BECAUSE THE OBLIGATIONS ARE
SECURED BY REAL PROPERTY.
THIS IS AN UNCONDITIONAL AND IRREVOCABLE WAIVER OF
ANY RIGHTS AND DEFENSES AFFECTING ENFORCEMENT OF THIS SECURITY INSTRUMENT THAT
TRUSTOR MAY HAVE BECAUSE THE LOAN IS SECURED BY REAL PROPERTY.
THESE RIGHTS AND
DEFENSES INCLUDE, BUT ARE NOT LIMITED TO, ANY RIGHTS AND DEFENSES BASED UPON
NEVADA LAW.
(C)
TRUSTOR HEREBY EXPRESSLY WAIVES DILIGENCE, DEMAND, PRESENTMENT,
PROTEST AND NOTICE OF EVERY KIND AND NATURE WHATSOEVER (UNLESS AS OTHERWISE
REQUIRED UNDER THIS SECURITY INSTRUMENT) AND WAIVES ANY RIGHT TO REQUIRE
BENEFICIARY TO ENFORCE ANY REMEDY AGAINST ANY GUARANTOR, ENDORSER OR OTHER
PERSON WHATSOEVER PRIOR TO THE EXERCISE OF ITS RIGHTS AND REMEDIES HEREUNDER OR
OTHERWISE.
TO THE EXTENT PERMITTED BY APPLICABLE LAW, TRUSTOR WAIVES ANY RIGHT
TO REQUIRE BENEFICIARY TO (I) PROCEED OR EXHAUST ANY COLLATERAL SECURITY GIVEN
OR HELD BY BENEFICIARY IN CONNECTION WITH THE OBLIGATIONS, (II) GIVE NOTICE OF
THE TERMS, TIME AND PLACE OF ANY PUBLIC OR PRIVATE SALE OF ANY REAL OR PERSONAL
PROPERTY SECURITY FOR THE OBLIGATIONS OR OTHER GUARANTY OF THE OBLIGATIONS; OR
(III) PURSUE ANY OTHER REMEDY IN BENEFICIARY'S POWER WHATSOEVER.
(D)
UNTIL ALL OF THE OBLIGATIONS SHALL HAVE BEEN PAID