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• <br /> 6. The power of sale conferred by this Deed of Trust and by the Deed of Trust Act <br /> of the State of Washington is not an exclusive remedy; Beneficiary may cause this Deed of Trust <br /> to be foreclosed as a mortgage. <br /> 7. In the event of the death, incapacity, disability or resignation of Trustee, <br /> Beneficiary may appoint in writing a successor trustee, and upon the recording of such <br /> appointment in the mortgage records of the county in which this Deed of Trust is recorded, the <br /> successor trustee shall be vested with all powers of the original trustee. The Trustee is not <br /> obligated to notify any party hereto of pending sale under any other Deed of Trust or of any action <br /> or proceeding in which Grantor, Trustee or Beneficiary shall be a party unless such action or <br /> proceeding is brought by the Trustee. <br /> 8. This Deed of Trust applies to and inures to the benefit of, and is binding not <br /> only on the parties hereto, but on their heirs, devisees, legatees, administrators, executors and <br /> assigns. The term Beneficiary shall mean the holder and owner of the Note secured hereby, <br /> whether or not named as Beneficiary herein. <br /> 9. Notwithstanding any provision contrary in any Loan Document, Beneficiary <br /> acknowledges and agrees that (a) the Property is or will be subject to a Land Use Restriction <br /> Agreement (as defined below), (b)the recordation of the Land Use Restriction Agreement against <br /> the Property is permitted under the terms of the Loan Documents and (c) the lien of any Loan <br /> Document, and the terms and provision thereof, shall be subordinate to the Land Use Restriction <br /> Agreement, regardless of the order of recording of either document. "Land Use Restriction <br /> Agreement" means the extended low-income housing commitment, regulatory agreement or <br /> restrictive covenants executed or to be executed by Grantor setting forth certain terms and <br /> conditions under which the Property is to be operated and which shall meet the requirements of <br /> Section 42(h)(6)(B) of the Internal Revenue Code of 1986, as amended. <br /> GRANTOR FURTHER AGREES: <br /> 1. Grantor will perform each and every obligation contained in the Loan Agreement <br /> and any amendments thereof. <br /> 2. Grantor will charge rent to tenants of the Premises described herein according <br /> to the (i) Rent Restriction Provisions contained in Section VII, Exhibit A to the Loan Agreement <br /> and (ii) the Use Restriction Covenant Agreement attached as Exhibit E to the Loan Agreement <br /> and to be recorded against the Property. <br /> 3. Grantor will ensure that the Property will remain affordable pursuant to the terms <br /> of the foregoing Loan Agreement without regard to the term of any other deed of trust or the <br /> transfer of ownership,for not less than the term of this Deed of Trust, except that, upon foreclosure <br /> of the Property described herein by another lender or other transfer in lieu of such a foreclosure, <br /> the affordability period of this Deed of Trust shall be terminated if that foreclosure or other transfer <br /> recognizes any contractual or legal rights of public agencies, nonprofit sponsors, or others to take <br /> actions that would avoid the termination of low-income affordability. However, the affordability <br /> restrictions of this Deed of Trust shall be revived according to the original terms set forth herein <br /> if, during the period hereunder, the owner of record before foreclosure under any other deed of <br /> trust or deed of trust or other transfer, or any entity that includes the former owner or those with <br />