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4 <br />Any amounts disbursed by the Beneficiary pursuant to this paragraph, with interest thereon, <br />will become an indebtedness of Trustor secured by this Deed of Trust. Unless Trustor and the <br />Beneficiary agree to other terms of payment, such amount will be payable upon notice from the <br />Beneficiary to Trustor requesting payment thereof, and will bear interest from the date of <br />disbursement at the rate payable from time to time on outstanding principal under the Agency <br />Promissory Note unless payment of interest at such rate would be contrary to applicable law, in <br />which event such amounts will bear interest at the highest rate permissible under applicable law. <br />Nothing contained in this paragraph will require the Beneficiary to insure any expense or take any <br />action hereunder. <br />9. Inspection. The Beneficiary may make, or cause to be made, reasonable entries <br />upon and inspections of the Security upon reasonable prior notice during normal business hours, <br />provided that the Beneficiary will give Trustor reasonable notice of inspection. <br />10. Forbearance by the Beneficiary Not a Waiver. Any forbearance by the Beneficiary <br />in exercising any right or remedy will not be a waiver of the exercise of any such right or remedy. <br />The procurement of insurance or the payment of taxes or other liens or charges by the Beneficiary <br />will not be a waiver of the Beneficiary's right to accelerate the maturity of the indebtedness secured <br />by this Deed of Trust. <br />11. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and <br />cumulative to any other right or remedy under this Deed of Trust or any other document, or afforded <br />by law or equity, and may be exercised concurrently, independently or successively. <br />12. Successors and Assigns Bound. The covenants and agreements herein contained <br />shall bind, and the rights hereunder shall inure to, the respective successors and assigns of the <br />Beneficiary and Trustor subject to the provisions of this Deed of Trust. <br />13. Joint and Several Liability. All covenants and agreements of Trustor shall be joint <br />and several. <br />14. Notice. Except for any notice required under applicable law to be given in <br />another manner, all notices, demands, approvals and other communications provided for in this <br />Agency Deed of Trust shall be in writing and be delivered by certified U.S. mail, return receipt <br />requested, at the address as follows: <br />If to Trustor: AMCAL 1440 Santa Ana Fund, LP <br />c/o AMCAL Multi-Housing, Inc. <br />17862 E. 17th Street, Suite 209 <br />Tustin, CA 92780 <br />Attention: Mario Turner <br />With a copy to: AMCAL Multi-Housing, Inc. <br />30141 Agoura Road, Suite 100 <br />Agoura Hills, CA 91301 <br />Attention: General Counsel <br />EXHIBIT 3 <br />3-82