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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 <br />