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the proper office of the county or counties in which the Property is situated, shall be conclusive <br />proof of proper appointment of the successor trustee. <br />8.12 Statute of Limitations. The pleading of any statute of limitations as a defense to <br />any and all obligations secured by this Deed of Trust is hereby waived to the full extent <br />permissible by law. <br />8.13 Acceptance by Trustee. Trustee accepts this Trust when this Deed of Trust, duly <br />executed and acknowledged, is made public record as provided by law. Except as otherwise <br />provided by law the Trustee is not obligated to notify any party hereto of pending sale under this <br />Deed of Trust or of any action of proceeding in which Trustor, Beneficiary, or Trustee shall be a <br />party unless brought by Trustee. <br />8.14 Tax Credit Requirement. Notwithstanding anything to the contrary contained <br />herein or in any documents secured by this deed of trust or contained in any subordination <br />agreement, the Beneficiary acknowledges and agrees that in the event of a foreclosure or deed- <br />in-lieu of foreclosure (collectively, "Foreclosure") with respect to the property encumbered by <br />this deed of trust, the following rule contained in Section 42(h)(6)(E)(ii) of the Internal Revenue <br />Code of 1986, as amended, shall apply: <br />For a period of three (3) years from the date of Foreclosure, with respect to any <br />unit that had been regulated by the regulatory agreement with the California Tax <br />Credit Allocation Committee, (i) none of the tenants occupying those units at the <br />time of Foreclosure may be evicted or their tenancy terminated (other than for <br />good cause), (ii) nor may any rent be increased except as otherwise permitted <br />under Section 42 of the Code. <br />[SIGNATURE ON THE FOLLOWING PAGE] <br />16 <br />144\221\1488737.2