Laserfiche WebLink
• <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 /> 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 /> 7.14. 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 Trustor, the lessees of the Property or <br /> any third parties, or any dangerous or defective condition of the Property; or (iv) any <br /> loss sustained by Trustor or any third party resulting from any act or omission of <br /> Beneficiary in managing the Property after an Event of Default, unless the loss is <br /> caused by the willful misconduct, gross negligence, or bad faith of Beneficiary. Trustor <br /> hereby expressly waives and releases all liability of the types described in this Section <br /> 7.14 and agrees that Trustor shall assert no claim related to any of the foregoing <br /> against Beneficiary. <br /> 7.15 Insurance and Condemnation Proceeds. Subject to the rights of any <br /> senior lienholders, any award of damages in connection with any condemnation for <br /> public use of, or injury to the Property or any part thereof is hereby assigned and shall <br /> be paid to Beneficiary who may apply such moneys to any indebtedness secured <br /> hereby in such order as Beneficiary may determine, or at the option of Beneficiary the <br /> entire amount so collected or any part thereof may be released to Trustor. Such <br /> application or release shall not cure or waive any default or notice of default hereunder <br /> or invalidate any act done pursuant to such notice. Notwithstanding the foregoing, so <br /> long as the value of Beneficiary's lien is not impaired, insurance and /or condemnation <br /> proceeds may be used to repair and /or restore the Project. <br /> 7.16 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 (1) release any person liable for payment of any <br /> Secured Obligation, (ii) extend the time for payment or otherwise alter the terms of <br /> payment of any Secured Obligation; (iii) accept additional real or personal property of <br /> any kind as security for any Secured Obligation, or (iv) substitute or release any <br /> property securing the Secured Obligations. <br /> 7.17 Reconveyance. Upon written request of Beneficiary stating that all of the <br /> 1582131.3 14 <br />