Common use of Substitute Trustee Clause in Contracts

Substitute Trustee. Trustee may resign by an instrument in writing addressed to Lender, or Trustee may be removed at any time with or without cause by an instrument in writing executed by Lender. In case of the death, resignation, removal or disqualification of Trustee, or if for any reason Lender shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender, and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt secured hereby has been paid in full, or until the Property is fully and finally sold hereunder. In the event that the Debt is owned by more than one person or entity, the holder or holders of not less than a majority in amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e). Such appointment and designation by Lender, or by the holder or holders of not less than a majority of the Debt secured hereby, shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender is a corporation or association or trust and such appointment is executed in its behalf by an officer or trustee of such corporation or association or trust, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association or trust. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Property shall vest in the named successor or substitute trustee, and it shall thereupon succeed to and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, nevertheless, upon the written request of Lender or of the successor or substitute trustee, the trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee all of the estate and title in the Property of the trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee hereunder to said successor or substitute trustee. All references herein to “Trustee” shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. The Trustee may resign by an instrument in writing addressed to Lender, or the Trustee may be removed at any time with or without cause by an instrument in writing executed by Lender. In case of the death, resignation, removal or disqualification of Trustee, the Trustee or if for any reason Lender shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender, Lender and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt indebtedness secured hereby has been paid in full, full or until the Property is fully and finally sold hereunder. In the event that the Debt indebtedness secured hereby is owned by more than one person or entity, the holder or holders of not less than a majority in the amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e)sentence. Such appointment and designation by Lender, Lender or by the holder or holders of not less than a majority of the Debt indebtedness secured hereby, hereby shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender is a corporation or association or trust and such appointment is executed in its behalf by an officer or trustee of such corporation or association or trustcorporation, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association or trustcorporation. Upon the making of any such appointment and designation, all of the estate and title of the Trustee in the Property shall vest in the named successor or substitute trustee, trustee and it he shall thereupon succeed to and shall hold, possess and execute, execute all of the rights, powers, privileges, immunities and duties herein conferred upon the Trustee; but, but nevertheless, upon the written request of Lender or of the successor or substitute trustee, the trustee Trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee all of the estate and title in the Property of the trustee Trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee Trustee hereunder to said successor or substitute trustee. All references herein to “Trustee” the Trustee shall be deemed to refer to the Trustee (including any successor or substitute trustee appointed and designated as herein provided) from time to time acting hereunder. Borrower hereby ratifies and confirms any and all acts which the herein named Trustee or her successor or successors, substitute or substitutes, in this trust, shall do lawfully by virtue hereof.

Substitute Trustee. The Trustee may resign by an instrument in writing addressed to LenderAdministrative Agent, or Trustee may be removed at any time with or without cause by an instrument in writing executed by LenderAdministrative Agent. In case of the death, resignation, removal removal, or disqualification of Trustee, or if for any reason Lender Administrative Agent shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender Administrative Agent shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by LenderAdministrative Agent, and, in Administrative Agent’s discretion, recorded in the office of the county recorder where any portion of the Property is located, and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt indebtedness secured hereby has been paid in full, or until the Property is fully and finally sold hereunder. In the event that the Debt secured indebtedness is owned by more than one person or entity, the holder or holders of not less than a majority in the amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e)section. Such appointment and designation by LenderAdministrative Agent, or by the holder or holders of not less than a majority of the Debt indebtedness secured hereby, shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender Administrative Agent is a corporation or association or trust other business entity and such appointment is executed in its behalf by an officer or trustee of such corporation or association or trustother business entity, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association other business entity. Administrative Agent may act through an agent or trustattorney-in-fact in substituting trustees. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Property Deed of Trust Mortgaged Properties shall vest in the named successor or substitute trustee, Trustee and it such successor or substitute shall thereupon succeed to to, and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, but nevertheless, upon the written request of Lender Administrative Agent or of the successor or substitute trusteeTrustee, the trustee Trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee Trustee all of the estate and title in the Property Deed of Trust Mortgaged Properties of the trustee Trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee Trustee hereunder to said successor or substitute trusteeTrustee. All references herein to “Trustee” Trustee shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. The Trustee may resign by an instrument in writing addressed to LenderAgent, or Trustee may be removed at any time with or without cause by an instrument in writing executed by LenderAgent. In case of the death, resignation, removal removal, or disqualification of Trustee, or if for any reason Lender Agent shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender Agent shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing writing, executed by Lender, Agent and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt indebtedness secured hereby has been paid in full, or until the Mortgaged Property is fully and finally sold hereunder. In the event that the Debt is owned by more than one person or entity, the holder or holders of not less than a majority in amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e). Such appointment and designation by Lender, or by the holder or holders of not less than a majority of the Debt secured hereby, shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender Agent is a corporation or association or trust and such appointment is executed in on its behalf by an officer or trustee officers of such corporation or association or trustassociation, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association or trustassociation. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Mortgaged Property shall vest in the named successor or substitute trustee, Trustee and it he or she shall thereupon succeed to to, and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, nevertheless, upon the written request of Lender or of the successor or substitute trustee, the trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee all of the estate and title in the Property of the trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee hereunder to said successor or substitute trustee. All references herein to “"Trustee” " shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. The Trustee may resign by an instrument in writing addressed to LenderAgent, or Trustee may be removed at any time with or without cause by an instrument in writing executed by LenderAgent. In case of the death, resignation, removal removal, or disqualification of Trustee, or if for any reason Lender Agent shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender Agent shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender, Agent and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt Secured Liabilities secured hereby has have been paid in full, or until the Property Collateral is fully and finally sold hereunder. In the event that the Debt is Secured Liabilities are owned by more than one person or entity, the holder or holders of not less than a majority Required Banks (as defined in amount of such indebtedness the Loan Agreement) shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e)section. Such appointment and designation by LenderAgent, or by the holder or holders of not less than a majority of Required Banks (as defined in the Debt secured herebyLoan Agreement), shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender Agent is a corporation or association or trust and such appointment is executed in its behalf by an officer or trustee of such corporation or association or trustassociation, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association association. Agent may act through an agent or trustattorney-in-fact in substituting trustees. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Property Mortgaged Properties shall vest in the named successor or substitute trustee, Trustee and it he or she shall thereupon succeed to to, and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, but nevertheless, upon the written request of Lender Agent or of the successor or substitute trusteeTrustee, the trustee Trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee Trustee all of the estate and title in the Property Mortgaged Properties of the trustee Trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee Trustee hereunder to said successor or substitute trusteeTrustee. All references herein to “Trustee” Trustee shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. The Trustee may resign by an instrument in writing addressed to Lenderthe Agent, or the Trustee may be removed at any time with or without cause by an instrument in writing executed by Lender. In the Agent in case of the death, resignation, removal or disqualification of the Trustee, or if for any reason Lender the Agent shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender the Agent shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender, the Agent and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt indebtedness secured hereby has been paid in full, or until the Property Premises is fully and finally sold hereunder. In If the event that the Debt is owned by more than one person or entity, the holder or holders of not less than a majority in amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e). Such appointment and designation by Lender, or by the holder or holders of not less than a majority of the Debt secured hereby, shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender Agent is a corporation or association or trust and such appointment is executed in on its behalf by an officer or trustee of such corporation or association or trust, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association or trustassociation. Upon the making of any such appointment and designation, all of the estate and title of the Trustee in the Property Premises shall vest in the named successor or substitute trustee, and it trustee who shall thereupon succeed to to, and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, nevertheless, upon the written request of Lender or of the successor or substitute trustee, the trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee all of the estate and title in the Property of the trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee hereunder to said successor or substitute trustee. All references herein to “Trustee” "TRUSTEE" shall be deemed to refer to the Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. Trustee may resign by an instrument in writing addressed to Lender▇▇▇▇▇▇, or Trustee may be removed at any time with or without cause by an instrument in writing executed by Lender▇▇▇▇▇▇. In case of the death, resignation, removal or disqualification of Trustee, or if for any reason Lender ▇▇▇▇▇▇ shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender ▇▇▇▇▇▇ shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender▇▇▇▇▇▇, and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively successively. until the Debt secured hereby has been paid in full, or until the Property is fully and finally sold hereunder. In the event that the Debt is owned by more than one person or entity, the holder or holders of not less than a majority in amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e18.38(e). Such appointment and designation by Lender▇▇▇▇▇▇, or by the holder or holders of not less than a majority of the Debt secured hereby, shall be full fall evidence of the right and authority to make the same and of all facts therein recited. If Lender is a corporation or association or trust and such appointment is executed in its behalf by an officer or trustee of such corporation or association or trust, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association or trust. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Property shall vest in the named successor or substitute trustee, and it shall thereupon succeed to and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, nevertheless, upon the written request of Lender ▇▇▇▇▇▇ or of the successor or substitute trustee, the trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee all of the estate and title in the Property of the trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee hereunder to said said. successor or substitute trustee. All references herein to “Trustee” shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. The Trustee may resign by an instrument in writing addressed to LenderAgent, or Trustee may be removed at any time with or without cause by an instrument in writing executed by LenderAgent. In case of the death, resignation, removal removal, or disqualification of Trustee, or if for any reason Lender Agent shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender Agent shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender, Agent and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt indebtedness secured hereby has been paid in full, or until the Mortgaged Property is fully and finally sold hereunder. In the event that the Debt is owned by more than one person or entity, the holder or holders of not less than a majority in amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e). Such appointment and designation by Lender, or by the holder or holders of not less than a majority of the Debt secured hereby, shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender Agent is a corporation or association or trust and such appointment is executed in on its behalf by an officer or trustee of such corporation or association or trustassociation, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association or trustassociation. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Mortgaged Property shall vest in the named successor or substitute trustee, Trustee and it he shall thereupon succeed to to, and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, nevertheless, upon the written request of Lender or of the successor or substitute trustee, the trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee all of the estate and title in the Property of the trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee hereunder to said successor or substitute trustee. All references herein to “"Trustee” " shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time-to-time acting hereunder.

Substitute Trustee. Trustee may resign by an instrument in writing addressed to Lender▇▇▇▇▇▇, or Trustee may be removed at any time with or without cause by an instrument in writing executed by Lender▇▇▇▇▇▇. In case of the death, resignation, removal or disqualification of Trustee, or if for any reason Lender shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender▇▇▇▇▇▇, and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt secured hereby has been paid in full, or until the Property is fully and finally sold hereunder. In the event that the Debt is owned by more than one person or entity, the holder or holders of not less than a majority in amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e18.35(e). Such appointment and designation by Lender▇▇▇▇▇▇, or by the holder or holders of not less than a majority of the Debt secured hereby, shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender is a corporation or association or trust and such appointment is executed in its behalf by an officer or trustee of such corporation or association or trust, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association or trust. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Property shall vest in the named successor or substitute trustee, and it shall thereupon succeed to and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, nevertheless, upon the written request of Lender ▇▇▇▇▇▇ or of the successor or substitute trustee, the trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee all of the estate and title in the Property of the trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee hereunder to said successor or substitute trustee. All references herein to “Trustee” shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. The Trustee may resign by an instrument in writing addressed to LenderAgent, or Trustee may be removed at any time with or without cause by an Houston 3941837v.4 instrument in writing executed by LenderAgent. In case of the death, resignation, removal removal, or disqualification of Trustee, or if for any reason Lender Agent shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender Agent shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender, Agent and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt indebtedness secured hereby has been paid in full, or until the Property is fully and finally sold hereunder. In the event that the Debt secured indebtedness is owned by more than one person or entity, the holder or holders of not less than a majority in the amount of such indebtedness shall also have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e)section. Such appointment and designation by Lender, or by the holder or holders of not less than a majority of the Debt secured hereby, Agent shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender Agent is a corporation or association or trust and such appointment is executed in its behalf by an officer or trustee of such corporation or association or trustassociation, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association association. Agent may act through an agent or trustattorney-in-fact in substituting trustees. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Property Deed of Trust Mortgaged Properties shall vest in the named successor or substitute trustee, Trustee and it such successor or substitute shall thereupon succeed to to, and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, but nevertheless, upon the written request of Lender Agent or of the successor or substitute trusteeTrustee, the trustee Trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee Trustee all of the estate and title in the Property Deed of Trust Mortgaged Properties of the trustee Trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee Trustee hereunder to said successor or substitute trusteeTrustee. All references herein to “Trustee” Trustee shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. Trustee may resign by an instrument in writing addressed to LenderBeneficiary, or Trustee may be removed at any time with or without cause by an instrument in writing executed by LenderBeneficiary. In case of the death, resignation, removal removal, or disqualification of Trustee, or if for any reason Lender Beneficiary shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender Beneficiary shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender, Beneficiary and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt indebtedness secured hereby has been paid in full, or until the Property is fully and finally sold hereunder. In the event that the Debt is owned by more than one person or entity, the holder or holders of not less than a majority in amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e). Such appointment and designation by Lender, or by the holder or holders of not less than a majority of the Debt secured hereby, Beneficiary shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender Beneficiary is a corporation or association or trust and such appointment is executed in its behalf by an officer or trustee of such corporation or association or trustassociation, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association association. Beneficiary may act through an agent or trustattorney-in-fact in substituting trustees. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Property Collateral shall vest in the named successor or substitute trustee, Trustee and it such successor or substitute shall thereupon succeed to to, and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee (other than the benefits of the indemnities, immunities and releases provided herein and in the other Loan Documents, which will inure both to the former Trustee and to the successor or substitute Trustee); but, but nevertheless, upon the written request of Lender Beneficiary or of the successor or substitute trusteeTrustee, the trustee Trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee Trustee all of the estate and title in the Property Collateral of the trustee Trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee Trustee hereunder to said successor or substitute trusteeTrustee. All references herein to “Trustee” Trustee shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. The Trustee may resign by an instrument in writing addressed to LenderAgent, or Trustee may be removed at any time with or without cause by an instrument in writing executed by LenderAgent. In case of the death, resignation, removal removal, or disqualification of Trustee, or if for any reason Lender Agent shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender Agent shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender, Agent and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt indebtedness secured hereby has been paid in full, or until the Property is fully and finally sold hereunder. In the event that the Debt secured indebtedness is owned by more than one person or entity, the holder or holders of not less than a majority in the amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e)section. Such appointment and designation by Lender, or by the holder or holders of not less than a majority of the Debt secured herebyAgent, shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender Agent is a corporation or association or trust and such appointment is executed in its behalf by an officer or trustee of such corporation or association or trustassociation, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the -21- 201 corporation or association association. Agent may act through an agent or trustattorney-in-fact in substituting trustees. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Property Deed of Trust Mortgaged Properties shall vest in the named successor or substitute trustee, Trustee and it such successor or substitute shall thereupon succeed to to, and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, but nevertheless, upon the written request of Lender Agent or of the successor or substitute trusteeTrustee, the trustee Trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee Trustee all of the estate and title in the Property Deed of Trust Mortgaged Properties of the trustee Trustee so ceasing to act, together with all the rights, powers, privileges, immunities Immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee Trustee hereunder to said successor or substitute trusteeTrustee. All references herein to “Trustee” Trustee shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. The Trustee may resign by an instrument in writing addressed to Lender▇▇▇▇▇▇, or Trustee may be removed at any time with or without cause by an instrument in writing executed by Lender▇▇▇▇▇▇. In case of the death, resignation, removal removal, or disqualification of Trustee, or if for any reason Lender Holder shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender ▇▇▇▇▇▇ shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender, Holder and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt indebtedness secured hereby has been paid in full, or until the Mortgaged Property is fully and finally sold hereunder. In the event that the Debt is owned by more than one person or entity, the holder or holders of not less than a majority in amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e). Such appointment and designation by Lender, or by the holder or holders of not less than a majority of the Debt secured hereby, shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender Holder is a corporation or association or trust and such appointment is executed in on its behalf by an officer or trustee of such corporation or association or trustassociation, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association or trustassociation. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Mortgaged Property shall vest in the named successor or substitute trustee, Trustee and it he shall thereupon succeed to to, and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, nevertheless, upon the written request of Lender or of the successor or substitute trustee, the trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee all of the estate and title in the Property of the trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee hereunder to said successor or substitute trustee. All references herein to “Trustee” "TRUSTEE" shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. Trustee may resign by an instrument in writing addressed to Lenderresign, or Trustee may be removed removed, at any time in accordance with or the provisions of the Arizona Revised Statutes, including without cause by an instrument in writing executed by Lenderlimitation Section 33-804 thereof. In case of the death, resignation, removal removal, or disqualification of Trustee, or if for any reason Lender Beneficiary shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender Beneficiary shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than compliance with applicable provisions of the Arizona Revised Statutes and appointment and designation in writing executed by Lender, Beneficiary and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt indebtedness secured hereby has been paid in full, or until the Mortgaged Property is fully and finally sold hereunder. In the event that the Debt secured indebtedness is owned by more than one person or entity, the holder Beneficiary or holders Beneficiaries, or their agent or other legal representatives, of not less than a majority in the amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e)Section. Such appointment and designation by LenderBeneficiary, or by the holder Beneficiary or holders Beneficiaries of not less than a majority of the Debt indebtedness secured hereby, or their agent or other legal representative, shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender the party making such appointment is a corporation or association or trust and such appointment is executed in on its behalf by an officer or trustee of such corporation or association or trustassociation, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association or trustassociation. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Mortgaged Property shall vest in the named successor or substitute trustee, Trustee and it he shall thereupon succeed to to, and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, but nevertheless, upon the written request of Lender the Beneficiary or of the successor or substitute trusteeTrustee, the trustee Trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee Trustee all of the estate and title in the Mortgaged Property of the trustee Trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee Trustee hereunder to said successor or substitute trusteeTrustee. All references herein to “"Trustee” " shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. Trustee may resign by an instrument in writing addressed to Lender, or Trustee may be removed at any time with or without cause by an instrument in writing executed by Lender. In case of the death, resignation, removal or disqualification of Trustee, or if for any reason Lender shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender, and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt secured hereby has been paid in full, or until the Property is fully and finally sold hereunder. In the event that the Debt is owned by more than one person or entity, the holder or holders of not less than a majority in amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e16.1(e). Such appointment and designation by Lender, or by the holder or holders of not less than a majority of the Debt secured hereby, shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender is a corporation or association or trust and such appointment is executed in its behalf by an officer or trustee of such corporation or association or trust, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association or trust. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Property shall vest in the named successor or substitute trustee, and it shall thereupon succeed to and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, nevertheless, upon the written request of Lender or of the successor or substitute trustee, the trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee all of the estate and title in the Property of the trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee hereunder to said successor or substitute trustee. All references herein to “Trustee” shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. The Trustee may resign by an instrument in writing addressed to LenderL▇▇▇▇▇, or Trustee may be removed at any time with or without cause by an instrument in writing executed by LenderL▇▇▇▇▇. In case of the death, resignation, removal removal, or disqualification of Trustee, or if for any reason Lender shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender, L▇▇▇▇▇ and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt indebtedness secured hereby has been paid in full, or until the Property is fully and finally sold hereunder. In the event that the Debt is owned by more than one person or entity, the holder or holders of not less than a majority in amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e). Such appointment and designation by Lender, or by the holder or holders of not less than a majority of the Debt secured hereby, L▇▇▇▇▇ shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender is a corporation or association or trust and such appointment is executed in its behalf by an officer or trustee of such corporation or association or trustassociation, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association association. L▇▇▇▇▇ may act through an agent or trustattorney-in-fact in substituting trustees. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Property Mortgaged Properties shall vest in the named successor or substitute trustee, Trustee and it such successor or substitute shall thereupon succeed to to, and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, but nevertheless, upon the written request of Lender or of the successor or substitute trusteeTrustee, the trustee Trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee Trustee all of the estate and title in the Property Mortgaged Properties of the trustee Trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee hereunder T▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ to said successor or substitute trusteeTrustee. All references herein to “Trustee” Trustee shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. The Trustee may resign by an instrument in writing addressed to LenderCollateral Agent, or Trustee may be removed at any time with or without cause by an instrument in writing executed by LenderCollateral Agent. In case of the death, resignation, removal removal, or disqualification of Trustee, or if for any reason Lender Collateral Agent shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender Collateral Agent shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender, Collateral Agent and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt indebtedness secured hereby has been paid in full, or until the Property is fully and finally sold hereunder. In the event that the Debt secured indebtedness is owned by more than one person or entity, the holder or holders of not less than a majority in the amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e)Section. Such appointment and designation by LenderCollateral Agent, or by the holder or holders of not less than a majority of the Debt indebtedness secured hereby, shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender Collateral Agent is a corporation or association or trust and such appointment is executed in its behalf by an officer or trustee of such corporation or association or trustassociation, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association association. Collateral Agent may act through an agent or trustattorney-in-fact in substituting trustees. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Property Mortgaged Properties shall vest in the named successor or substitute trustee, Trustee and it such successor or substitute shall thereupon succeed to to, and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, but nevertheless, upon the written request of Lender Collateral Agent or of the successor or substitute trusteeTrustee, the trustee Trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee Trustee all of the estate and title in the Property Mortgaged Properties of the trustee Trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee Trustee hereunder to said successor or substitute trusteeTrustee. All references herein to “Trustee” Trustee shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. The Trustee may resign by an instrument in writing addressed to LenderAgent, or Trustee may be removed at any time with or without cause by an instrument in writing executed by LenderAgent. In case of the death, resignation, removal removal, or disqualification of Trustee, or if for any reason Lender Agent shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender Agent shall have the right and is hereby authorized and empowered to appoint a successor trusteetrustee(s), or a substitute trusteetrustee(s), without other formality than appointment and designation in writing executed by Lender, Agent and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt secured hereby Secured Obligations has been paid in full, or until the Property is fully and finally sold hereunder. In the event that the Debt is owned by more than one person or entity, the holder or holders of not less than a majority in amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e). Such appointment and designation by Lender, or by the holder or holders of not less than a majority of the Debt secured hereby, shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender Agent is a corporation or association or trust and such appointment is executed in on its behalf by an officer or trustee of such corporation or association or trustassociation, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior CHICAGO/#2321273.5 officer of the corporation or association or trustassociation. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Property shall vest in the named successor or substitute trustee, Trustee(s) and it he shall thereupon succeed to to, and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee. Any substitute trustee appointed pursuant to any of the provisions hereof shall, without any further act, deed or conveyance, become vested with all the estates, properties, rights, powers, and trusts of its, his or her predecessor in the rights hereunder with like effect as if originally named as Trustee herein; but, but nevertheless, upon the written request of Lender Agent or of the successor or substitute trustee, the trustee Trustee ceasing to act shall execute and deliver an any instrument transferring to such successor or substitute trustee trustee, upon the trusts herein expressed, all the estates, properties, rights, powers, and trusts of the estate and title in the Property of the trustee Trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties property and moneys held by said such Trustee to the substitute trustee hereunder so appointed in such Trustee’s place. Should any deed, conveyance, or instrument of any nature be required from Grantor by any Trustee or substitute Trustee to said successor more fully and certainly vest in and confirm to Trustee or substitute Trustee such estates, rights, powers, and duties, then, upon request by Trustee or substitute trustee, any and all such deeds, conveyances and instruments shall be made, executed, acknowledged, and delivered and shall be caused to be recorded and/or filed by Grantor. All references herein to “Trustee” shall be deemed to refer to Trustee (including any successor successor(s) or substitute substitute(s) appointed and designated as herein provided) from time to time acting hereunder.

Substitute Trustee. Trustee may resign by an instrument in writing addressed to Lender▇▇▇▇▇▇, or Trustee may be removed at any time with or without cause by an instrument in writing executed by Lender▇▇▇▇▇▇. In case of the death, resignation, removal or disqualification of Trustee, or if for any reason Lender shall deem it desirable to appoint a substitute or successor trustee to act instead of the herein named trustee or any substitute or successor trustee, then Lender shall have the right and is hereby authorized and empowered to appoint a successor trustee, or a substitute trustee, without other formality than appointment and designation in writing executed by Lender▇▇▇▇▇▇, and the authority hereby conferred shall extend to the appointment of other successor and substitute trustees successively until the Debt secured hereby has been paid in full, or until the Property is fully and finally sold hereunder. In the event that the Debt is owned by more than one person or entity, the holder or holders of not less than a majority in amount of such indebtedness shall have the right and authority to make the appointment of a successor or substitute trustee as provided for in the preceding sentence or to remove Trustee as provided in the first sentence of this Section 18.37(e16.1(e). Such appointment and designation by Lender▇▇▇▇▇▇, or by the holder or holders of not less than a majority of the Debt secured hereby, shall be full evidence of the right and authority to make the same and of all facts therein recited. If Lender is a corporation or association or trust and such appointment is executed in its behalf by an officer or trustee of such corporation or association or trust, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the board of directors or any superior officer of the corporation or association or trust. Upon the making of any such appointment and designation, all of the estate and title of Trustee in the Property shall vest in the named successor or substitute trustee, and it shall thereupon succeed to and shall hold, possess and execute, all of the rights, powers, privileges, immunities and duties herein conferred upon Trustee; but, nevertheless, upon the written request of Lender ▇▇▇▇▇▇ or of the successor or substitute trustee, the trustee ceasing to act shall execute and deliver an instrument transferring to such successor or substitute trustee all of the estate and title in the Property of the trustee so ceasing to act, together with all the rights, powers, privileges, immunities and duties herein conferred upon the Trustee, and shall duly assign, transfer and deliver any of the properties and moneys held by said trustee hereunder to said successor or substitute trustee. All references herein to “Trustee” shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.