Substitution of Trustee. Beneficiary and its successors and assigns may for any reason and at any time appoint a new or substitute Trustee by written appointment delivered to such new or substitute Trustee without notice to Grantor, without notice to, or the resignation or withdrawal by, the existing Trustee and without recordation of such written appointment unless notice or recordation is required by the laws of the jurisdiction in which the Property is located. Upon delivery of such appointment, the new or substitute Trustee shall be vested with the same title and with the same powers and duties granted to the original Trustee.
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Samples: Deed of Trust and Security Agreement (Kilroy Realty Corp), Deed of Trust and Security Agreement (Carramerica Realty Corp), Deed of Trust and Security Agreement (Brookdale Senior Living Inc.)
Substitution of Trustee. Beneficiary and its successors and assigns may for any reason and at any time time, without cause, appoint a new one or more persons to serve as substitute Trustee Trustee(s) by written appointment delivered to such new or substitute Trustee Trustee(s) without notice to Grantor, without notice to, or the resignation or withdrawal by, the existing Trustee and without recordation of such written appointment unless notice or recordation is required by the laws of the jurisdiction in which the Property is located. Upon delivery of such appointment, the new or substitute Trustee Trustee(s) shall be vested with the same title and with the same powers and duties granted to the original Trustee.
Appears in 2 contracts
Samples: Deed of Trust and Security Agreement (Bluerock Residential Growth REIT, Inc.), Deed of Trust and Security Agreement (Trade Street Residential, Inc.)
Substitution of Trustee. Beneficiary and its successors and assigns may for any ----------------------- reason and at any time appoint a new or substitute Trustee by written appointment delivered to such new or substitute Trustee without notice to Grantor, without notice to, or the resignation or withdrawal by, the existing Trustee and without recordation of such written appointment unless notice or recordation is required by the laws of the jurisdiction in which the Property is located. Upon delivery of such appointment, the new or substitute Trustee shall be vested with the same title and with the same powers and duties granted to the original Trustee.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Carramerica Realty Corp)
Substitution of Trustee. Beneficiary and its successors and assigns may for any reason and at any time appoint a new or substitute Trustee by written appointment delivered to such new or substitute Trustee without notice to Grantor, without notice to, or the resignation or withdrawal by, the existing Trustee and without recordation of such written appointment unless notice or recordation is required by the laws of the jurisdiction in which the Property is Properties are located. Upon delivery of such appointment, the new or substitute Trustee shall be vested with the same title and with the same powers and duties granted to the original Trustee.
Appears in 1 contract
