Liability of Trustee. Trustee shall not be liable for any error of judgment or act done by Trustee in good faith, or be otherwise responsible or accountable under any circumstances whatsoever, except for Trustee's gross negligence or willful misconduct. Trustee shall have the right to rely on any instrument, document or signature authorizing or supporting any action taken or proposed to be taken by him hereunder, believed by him in good faith to be genuine. All monies received by Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, and shall be segregated from all other monies, and Trustee shall be under no liability for interest on any monies received by him hereunder. Borrower will reimburse Trustee for, and indemnify and save Trustee harmless against, any and all liability and expenses which may be incurred by him in the performance of his duties hereunder.
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Samples: Deed of Trust (Shelbourne Properties Ii Inc), Deed of Trust, Security Agreement, Financing Statement, Fixture Filing and Assignment of Leases, Rents, and Security Deposits (Shelbourne Properties Ii Inc), Deed of Trust, Security Agreement, Financing Statement, Fixture Filing and Assignment of Leases, Rents, and Security Deposits (Shelbourne Properties Ii Inc)
Liability of Trustee. Trustee shall not be liable for any error of judgment or act done by Trustee in good faith, or be otherwise responsible or accountable under any circumstances whatsoever, except for Trustee's gross negligence negligence, willful misconduct or willful misconductbad faith. Trustee shall have the right to rely on any instrument, document or signature authorizing or supporting any action taken or proposed to be taken by him Trustee hereunder, believed by him Trustee in good faith to be genuine. All monies received by Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, and shall received but need not be segregated in any manner from all any other moniesmonies except to the extent required by law, and Trustee shall be under no liability for interest on any monies received by him hereunderTrustee hereunder except as may be provided by applicable law. Borrower will reimburse Trustee for, Debtors hereby ratify and indemnify and save Trustee harmless against, confirm any and all liability and expenses which may be incurred acts Trustee shall do lawfully by him in the performance of his duties hereundervirtue hereof.
Appears in 2 contracts
Samples: Deed of Trust (Foreland Corp), Deed of Trust, Security Agreement, Assignment of Rents, Profits and Proceeds, Financing Statement and Fixture Filing (Foreland Corp)
Liability of Trustee. Trustee shall not be liable for any error of judgment or act done by Trustee in good faith, or be otherwise responsible or accountable under any circumstances whatsoever, except for Trustee's gross negligence or willful misconduct. Trustee shall have the right to rely on any instrument, document or signature authorizing or supporting any action taken or proposed to be taken by him hereunder, believed by him in good faith to be genuine. All monies received by Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, and shall be segregated from all other monies, and Trustee shall be under no liability for interest on any monies received by him hereunder. Borrower Grantor will reimburse Trustee for, and indemnify and save Trustee him harmless against, any and all liability and expenses which may be incurred by him in the performance of his duties hereunder.
Appears in 2 contracts
Samples: Mortgage Agreement (Mark Centers Trust), Indenture of Mortgage, Deed of Trust, Security Agreement, Financing Statement, Fixture Filing and Assignment of Leases, Rents and Security Deposits (CBL & Associates Properties Inc)
Liability of Trustee. Trustee shall not be liable for any error of judgment or act done by Trustee in good faith, or be otherwise responsible or accountable under any circumstances whatsoever, except for Trustee's gross negligence or willful misconduct. Trustee shall have the right to rely on any instrument, document or signature authorizing or supporting any action taken or proposed to be taken by him hereunder, believed by him in good faith to be genuine. All monies received by Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, and shall be segregated from all other monies, and Trustee shall be under no liability for interest on any monies received by him hereunder. Borrower Trustor will reimburse Trustee for, and indemnify and save Trustee him harmless against, any and all liability and expenses which may be incurred by him in the performance of his duties hereunder.
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Liability of Trustee. Trustee shall not be liable for any -------------------- error of judgment or act done by Trustee in good faith, or be otherwise responsible or accountable under any circumstances whatsoever, except for Trustee's gross negligence or willful misconduct. Trustee shall have the right to rely on any instrument, document or signature authorizing or supporting any action taken or proposed to be taken by him hereunder, believed by him in good faith to be genuine. All monies received by Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, and shall be segregated from all other monies, and Trustee shall be under no liability for interest on any monies received by him hereunder. Borrower Grantor will reimburse Trustee for, and indemnify and save Trustee him harmless against, any and all liability and expenses which may be incurred by him in the performance of his duties hereunder.
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