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<br /> 13. Trustee. The Trustee shall be deemed to have accepted the terms.of this Trust when this
<br /> Deed of Trust, duly executed and acknowledged, is made a public record as provided by law.
<br /> Trustee shall not be obligated to notify any party hereto of any pending sale under any other Deed
<br /> of Trust or of any action or proceeding in which Trustor, Beneficiary or Trustee is a party, unless
<br /> such sale relates to or reasonably might affect the Property or this Deed of Trust, or unless such
<br /> action or proceeding has been instituted by Trustee against the Property, Trustor or Beneficiary.
<br /> 14. Reconveyance. Upon written request of Beneficiary reciting that the right to cure or
<br /> purchase will not be exercised by Beneficiary, surrender of this Deed of Trust to Trustee for
<br /> cancellation, and payment by Beneficiary of any reconveyance fees customarily charged by
<br /> Trustee, Trustee shall reconvey, without warranty, the Property as directed by Beneficiary and
<br /> Trustor in a joint writing. The recitals in such reconveyance of any matters of fact shall be
<br /> conclusive proof of the truthfulness thereof.
<br /> 15. Substitution of Trustee. Beneficiary, at Beneficiary's option, may from time to time, by
<br /> written instrument approved in writing by Trustor, substitute a successor to Trustee named herein
<br /> or acting hereunder, which instrument, when executed and acknowledged by Beneficiary and
<br /> Trustor and recorded in the office of the Recorder of the county in which the Property is located,
<br /> shall constitute conclusive proof of the proper substitution of which successor Trustee, who shall,
<br /> without conveyance from the predecessor Trustee, succeed to all right, title, estate, powers and
<br /> duties of such predecessor Trustee, including without limitation, the power to reconvey the
<br /> Property. To be effective, such instrument must contain the name of the original Trustor, Trustee,
<br /> and Beneficiary hereunder, the book and page at which, and the county in which, this Deed of
<br /> Trust is recorded and the name and address of the substitute Trustee and be signed by Trustor. If
<br /> any notice of default has been recorded hereunder, this power of substitution cannot be exercised
<br /> until all costs, fees and expenses of the then acting Trustee have been paid. Upon such payment,
<br /> the then acting Trustee shall endorse receipt thereof upon the instrument of substitution. The
<br /> procedure herein provided for substitution of Trustees shall be exclusive of other provisions for
<br /> substitution provided by applicable law.
<br /> 16. No Waiver by Beneficiary. No waiver by Beneficiary of any right or remedy provided by the
<br /> Declaration of Restrictions, this Deed of Trust or applicable law shall be effective unless such
<br /> waiver is in writing and subscribed by Beneficiary. Waiver by Beneficiary of any right or remedy
<br /> granted to Beneficiary under the Declaration of Restrictions or any provision thereof, this Deed of
<br /> Trust or applicable law as to any transaction or occurrence shall not be deemed a waiver as to any
<br /> future transaction or occurrence. The assertion by Beneficiary of any right or remedy provided by
<br /> this Deed of Trust shall not constitute a waiver of Beneficiary's right to require prompt performance
<br /> of the Secured Obligation and Trustor's obligations under this Deed of Trust.
<br /> 17. Consents and Approvals to be in Writing. Whenever the consent or approval of
<br /> Beneficiary or Trustor is specified as a condition of any provision of this Deed of Trust, such
<br /> consent or approval by Beneficiary or Trustor, as applicable, shall not be effective unless such
<br /> consent or approval is in writing, subscribed by Beneficiary or Trustor, as applicable. Such consent
<br /> shall not be unreasonably withheld, delayed, or conditioned.
<br /> 18. Notices. All notices, demands, consents, requests or other communications required to or
<br /> permitted to be given pursuant to this Agreement shall be in writing, shall be given only in
<br /> W LEA15353011235331.3
<br /> Performance Deed of Trust
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