Common use of Substitution of Trustee Clause in Contracts

Substitution of Trustee. From time to time, by a writing signed and ----------------------- acknowledged by Beneficiary and recorded in the Office of the Recorder of the County in which the Secured Property is situated, Beneficiary may appoint another trustee to act in the place and stead of Trustee or any successor. Such writing shall set forth any information required by applicable law. The recordation of such instrument of substitution shall discharge Trustee herein named and shall appoint the new trustee as the trustee hereunder with the same effect as if originally named trustee herein. A writing recorded pursuant to the provisions of this paragraph shall be conclusive proof of the proper substitution of such new trustee.

Substitution of Trustee. From time to time, by a writing signed and ----------------------- acknowledged by Beneficiary and recorded in the Office of the Recorder of the County in which the Secured Property is situated, Beneficiary may appoint another trustee to act in the place and stead of Trustee or any successor. Such writing shall set forth any information required by applicable law. The recordation of such instrument of substitution shall discharge Trustee herein named and shall appoint the new trustee as the trustee hereunder with the same effect as if originally named trustee herein. A writing recorded pursuant to the provisions of this paragraph shall be conclusive proof of the proper substitution of such new trustee.