RecD03 2003-350640 - Laserfiche WebLink

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2. The pleading of any statute of limitations as a defense to any and all obligations secured by this deed is hereby waived, to the full extent permissible by law. 3. Trustor shall, upon request made by Beneficiaries, furnish the Beneficiaries with annual statements covering the operations of the property. 4. Beneficiaries may collect a "late charge" not to exceed an amount equal to six percent ( 6%) on the amount past due and remaining unpaid on any installment that is not paid within ten (10 ) days from the due date thereof, to cover the extra expense involved in handling delinquent payments. 5. This deed applies to, inures to the benefit of and binds all parties hereto, their heirs, legatees, devisees, administrators, executors, successors, successors in interest, and assigns. The term "Beneficiaries" means the owner and holder, including pledgees, of the Agreement secured hereby, whether or not named as Beneficiaries herein. In this deed, whenever the context so requires, the masculine gender includes the feminine and neuter, and the singular number includes the plural, and all obligations of each Trustor hereunder are joint and several. 6. Trustee accepts this trust when this deed, duly executed and acknowledged, is made a public record as provided by law. Trustee is not obligated to notify any party hereto of pending sale under any other deed of trust or of any action or proceeding in which Trustor, Beneficiaries or Trustee is a party unless brought by Trustee. 7. No action or failure to act by Trustor shall be deemed a default which I authorizes Beneficiaries or Trustee to take any action unless Trustor does not cure the default within thirty (30) calendar days after the Agency has given written notice as specified in Section 15 of the Agreement, requiring it to be remedied and stating that such notice is a "Notice of Default" (or if such Default or breach cannot reasonably be cured within thirty (30) days of a Notice of Default, the failure to commence to cure and to timely, diligently and in good faith proceed to cure within a reasonable time not to exceed 90 days) . Notwithstanding any language in this Deed of Trust to the contrary, Beneficiaries and/or Trustee may take such action as is reasonably necessary, without notice to Trustor, if the delay arising from the giving of notice would 8