SPECIFIED IN THE
INSTRUMENT OF APPOINTMENT (WHICH MAY, IN THE DISCRETION OF BENEFICIARY, INCLUDE
PROVISIONS FOR THE PROTECTION OF SUCH COLLATERAL AGENT).
NOTWITHSTANDING ANY
SUCH APPOINTMENT BUT ONLY TO THE EXTENT NOT INCONSISTENT WITH SUCH LEGAL
REQUIREMENTS OR, IN THE REASONABLE JUDGMENT OF BENEFICIARY, NOT UNDULY
BURDENSOME TO IT OR ANY SUCH COLLATERAL AGENT, TRUSTOR SHALL, SO LONG AS
26
NO DEFAULT OR EVENT OF DEFAULT SHALL HAVE OCCURRED AND BE CONTINUING, BE
ENTITLED TO DEAL SOLELY AND DIRECTLY WITH BENEFICIARY RATHER THAN ANY SUCH
COLLATERAL AGENT IN CONNECTION WITH BENEFICIARY'S RIGHTS AND OBLIGATIONS UNDER
THIS SECURITY INSTRUMENT.
SECTION 14.10.
COUNTERPARTS; EFFECTIVENESS.
THIS SECURITY INSTRUMENT MAY
BE EXECUTED IN ANY NUMBER OF COUNTERPARTS, EACH OF WHICH SHALL BE AN ORIGINAL,
WITH THE SAME EFFECT AS IF THE SIGNATURES THERETO AND HERETO WERE UPON THE SAME
INSTRUMENT.
THIS SECURITY INSTRUMENT SHALL BECOME EFFECTIVE WITH RESPECT TO
TRUSTOR WHEN BENEFICIARY SHALL RECEIVE COUNTERPARTS HEREOF EXECUTED BY ITSELF
AND TRUSTOR.
SECTION 14.11.
JOINT AND SEVERAL LIABILITY.
IF TRUSTOR CONSISTS OF MORE
THAN ONE PERSON, THE OBLIGATIONS AND LIABILITIES OF EACH SUCH PERSON SHALL BE
JOINT AND SEVERAL.
SECTION 14.12.
INTENTIONALLY OMITTED.
SECTION 14.13.
OTHER COLLATERAL.
THIS SECURITY INSTRUMENT IS ONE OF A
NUMBER OF SECURITY AGREEMENTS TO SECURE THE OBLIGATIONS OF BORROWER PURSUANT TO
THE LOAN AGREEMENT AND THE OTHER LOAN DOCUMENTS.
ALL POTENTIAL JUNIOR LIEN
CLAIMANTS ARE PLACED ON NOTICE THAT, UNDER THE LOAN AGREEMENT AND EACH OTHER
LOAN DOCUMENT GRANTING A SECURITY INTEREST TO BENEFICIARY OR OTHERWISE (SUCH AS
BY SEPARATE FUTURE UNRECORDED AGREEMENT BETWEEN TRUSTOR AND BENEFICIARY), OTHER
COLLATERAL FOR THE OBLIGATIONS SECURED HEREUNDER (I.E., COLLATERAL OTHER THAN
THE PROPERTY) MAY, UNDER CERTAIN CIRCUMSTANCES, BE RELEASED WITHOUT A
CORRESPONDING REDUCTION IN THE TOTAL PRINCIPAL AMOUNT SECURED BY THIS SECURITY
INSTRUMENT.
SUCH A RELEASE WOULD DECREASE THE AMOUNT OF COLLATERAL SECURING THE
SAME INDEBTEDNESS, THEREBY INCREASING THE BURDEN ON THE REMAINING PROPERTY
CREATED AND CONTINUED BY THIS SECURITY INSTRUMENT.
NO SUCH RELEASE SHALL IMPAIR
THE PRIORITY OF THE LIEN OF THIS SECURITY INSTRUMENT.
BY ACCEPTING ITS INTEREST
IN THE PROPERTY, EACH AND EVERY JUNIOR LIEN CLAIMANT SHALL BE DEEMED TO HAVE
ACKNOWLEDGED THE POSSIBILITY OF, AND CONSENTED TO, ANY SUCH RELEASE. NOTHING IN
THIS PARAGRAPH SHALL IMPOSE ANY OBLIGATION UPON BENEFICIARY.
SECTION 14.14.
WAIVER OF APPRAISEMENT, VALUATION, STAY, EXTENSION AND
REDEMPTION LAWS.
TRUSTOR AGREES TO THE FULL EXTENT PERMITTED BY LAW THAT IF AN
EVENT OF DEFAULT OCCURS, NEITHER TRUSTOR NOR ANYONE CLAIMING THROUGH OR UNDER IT
SHALL OR WILL SET UP, CLAIM OR SEEK TO TAKE ADVANTAGE OF ANY APPRAISEMENT,
VALUATION, STAY, EXTENSION OR REDEMPTION LAWS NOW OR HEREAFTER IN FORCE, IN
ORDER TO PREVENT OR HINDER THE ENFORCEMENT OR FORECLOSURE OF THIS SECURITY
INSTRUMENT OR THE ABSOLUTE SALE OF THE PROPERTY OR ANY PORTION THEREOF OR THE
FINAL AND ABSOLUTE PUTTING INTO POSSESSION THEREOF, IMMEDIATELY AFTER SUCH SALE,
OF THE PURCHASERS THEREOF, AND TRUSTOR FOR ITSELF AND ALL WHO MAY AT ANY TIME
CLAIM THROUGH OR UNDER IT, HEREBY WAIVES, TO THE FULL EXTENT THAT IT MAY
LAWFULLY