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DRAFT <br /> 27. No Waiver. Any waiver of any term or provision of this Deed of Trust must be in <br /> writing.No waiver shall be implied from any delay or failure by City to take action on any breach <br /> or default hereunder or to pursue any remedy allowed under this Deed of Trust or applicable law. <br /> No failure or delay by City at any time to require strict performance of any provision of this Deed <br /> of Trust or to exercise any election contained herein or any right,power or remedy hereunder shall <br /> be construed as a waiver of any other provision or any succeeding breach of the same or any other <br /> provision hereof or a relinquishment for the future of such election. <br /> 28. No Third-Party Beneficiaries. This Deed of Trust shall not benefit or be <br /> enforceable by any person or entity except the City, the Trustee, and the Trustor and their <br /> respective successors and assigns. <br /> 29. Entire Agreement. This Deed of Trust, together with the Affordable Housing <br /> Resale Restrictions and the Note, sets forth the entire understanding between Trustor and the City <br /> with respect to the subject matter hereof. Any previous representations, warranties, agreements, <br /> and understandings among the parties regarding the subject matter of the Affordable Housing <br /> Resale Restrictions, this Deed of Trust and Note whether written or oral, are superseded by the <br /> terms of the Affordable Housing Resale Restrictions,the Note and this Deed of Trust. <br /> 30. Amendments. This Deed of Trust shall not be amended except by a written <br /> instrument duly executed by Trustor and Beneficiary and recorded in the Official Records of <br /> Orange. <br /> 31. Severability. If any provision of this Deed of Trust shall be held by a court of <br /> competent jurisdiction to be. invalid, illegal or unenforceable, the validity, legality and <br /> enforceability of the remaining provisions of this Deed of Trust shall not be affected or impaired <br /> thereby. <br /> 3L Controlling Law and Venue.The terms of this Deed of Trust shall be interpreted <br /> under the laws of the State of California without regard to principles of conflicts of law.This Deed <br /> of Trust was entered into and is to be performed in the County of Orange, which is the exclusive <br /> venue for any action or dispute arising out of this Deed of Trust. <br /> 33. Captions and Gender. All captions and headings in this Deed of Trust are for the <br /> purposes of reference and convenience and shall be disregarded for all other purposes, including <br /> the construction or enforcement of any of provisions thereof. Whenever the context so requires, <br /> the masculine gender includes the feminine and/or neuter, and the singular number includes the <br /> plural. <br /> 34. Joint and Several.The obligations of each signatory to this Deed of Trust shall be <br /> joint and several. <br /> 35. Time of the Essence.Time is of the essence with regard to all matters contained in <br /> this Deed of Trust. <br /> Page 60 ' <br /> Exhibit D <br /> 55394.00101\43423340.1 <br />