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construction or maintenance or any other condition or otherwise, (d) any claim, demand <br /> or cause of action, or any action or other proceeding, whether meritorious or not, <br /> brought or asserted against any lndemnitee which relates to or arises out of the <br /> Property, or any Loan Document or any transaction contemplated thereby, or any failure <br /> of Trustor to comply with all applicable state, federal and local laws and regulations <br /> applicable to the Property, provided that no Indemnitee shall be entitled to <br /> indemnification under this Section for matters caused by such Indemnitee's gross <br /> negligence or willful misconduct. The obligations of Trustor under this Section shall <br /> • <br /> survive the repayment of the Loan and shall be secured by this Deed of Trust. <br /> Notwithstanding any contrary provision contained herein, the obligations of Trustor <br /> under this Section shall survive any foreclosure proceeding, any foreclosure sale, any <br /> delivery of a deed in lieu of foreclosure, and any release or reconveyance of this Deed <br /> of Trust. <br /> (b) Limitation of Liability. Beneficiary shall not be directly or indirectly liable to <br /> Trustor or any other Person as a consequence of any of the following: (i) Beneficiary's <br /> exercise of or failure to exercise any rights, remedies or powers granted to Beneficiary <br /> in this Deed of Trust; (ii) Beneficiary's failure or refusal to perform or discharge any <br /> obligation or liability of Trustor under any agreement related to the Property or under <br /> this Deed of Trust; (iii) any waste committed by lessees of the Property or any third <br /> parties, or any dangerous or defective condition of the Property; or (iv) any loss <br /> sustained by Trustor or any third party resulting from any act or omission of Beneficiary <br /> in managing the Property after an Event of Default, unless the loss is caused by the <br /> willful misconduct, gross negligence, or bad faith of Beneficiary. Trustor hereby <br /> expressly waives and releases all liability of the types described in this Section 7.13(b), <br /> and agrees that Trustor shall assert no claim related to any of the foregoing against <br /> Beneficiary. <br /> 7.14 Insurance and Condemnation Proceeds. Any award of damages in <br /> connection with any condemnation for public use of, or injury to the Property or any part <br /> thereof is hereby assigned and shall be paid to Beneficiary who may apply such <br /> moneys to any indebtedness secured hereby in such order as Beneficiary may <br /> determine, or at the option of Beneficiary the entire amount so collected or any part <br /> thereof may be released to Trustor. Such application or release shall not cure or waive <br /> any default or notice of default hereunder or invalidate any act done pursuant to such <br /> notice. <br /> 7.15 Release, Extension, Modification. At any time and from time to time, <br /> without liability therefor and without notice, upon written request of Beneficiary and <br /> presentation of this Deed of Trust and the Note for endorsement, Trustee may release <br /> or reconvey all or any part of the Property, consent to the making of any map or plat of <br /> the Land or part thereof, join in granting any easement or creating any restriction <br /> affecting the Property, or join in any extension agreement or other agreement affecting <br /> the lien or charge hereof. At any time and from time to time, without liability therefor <br /> and without notice, Beneficiary may (i) release any person liable for payment of any <br /> Secured Obligation, (ii) extend the time for payment or otherwise alter the terms of <br /> 1177360 -3 11 <br /> Commercial Rehabilitation Loan Program <br /> Deed of Trust <br />