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42 <br /> document related to the transactions contemplated by this Deed of Trust, and subject to the liens <br /> and security interests hereof and thereof all or any part of the Mortgaged Property intended to be <br /> given or conveyed hereunder or thereunder,whether now given or conveyed or acquired and <br /> conveyed subsequent to the date of this Deed of Trust. <br /> 2-13 Joint and Several Liability. The Property Owners' covenant and agree that the <br /> Property Owners' obligations and liability under this Deed of Trust shall be joint and several. <br /> i <br /> 3. The Deed of Trust Trustee <br /> 3-1 Deed of Trust Trustee's Liability. The Deed of Trust Trustee shall suffer no <br /> liability by virtue of[his] acceptance of this trust except such as may be incurred as a result of <br /> the Deed of Trust Trustee's failure to account for the proceeds of any sale under this Deed of <br /> Trust. <br /> 3-2 Substitute Trustees. If the Deed of Trust Trustee, or any successor, shall die, <br /> become incapable of acting or renounce [his] trust, or if for any reason the County desires to <br /> replace the Deed of Trust Trustee,then the County shall have the unqualified right to appoint one <br /> or more substitute or successor Deed of Trust Trustees by instruments filed for registration in the <br /> office of the Register of Deeds where this Deed of Trust is recorded. Any such removal or <br /> appointment may be made at any time without notice, without specifying any reason therefor and <br /> without any court approval. Any such appointee shall become vested with title to the Mortgaged <br /> Property and with all rights,powers and duties conferred upon the Deed of Trust Trustee by this <br /> Deed of Trust in the same manner and to the same effect as though such Deed of Trust Trustee <br /> were named as the original Deed of Trust Trustee. <br /> 4. Defaults and Remedies; Foreclosure <br /> 4-1 Set Defaults and Remedies. Upon the occurrence and continuation of an Event <br /> of Default, as defined in the Loan Documents and/or this Deed of Trust,the County may pursue <br /> i <br /> its rights and remedies as provided under the Loan Documents and this Deed of Trust, including <br /> foreclosure and sale as described in Section 4-2. <br /> i <br /> 4-2 Foreclosure; Sale under Power of Sale. <br /> (a) Right to foreclosure or sale. Upon the continuation of an Event of Default, as <br /> defined in the Loan Documents and/or in this Deed of Trust, at the County's request,the Deed of <br /> Trust Trustee shall foreclose this Deed of Trust by judicial proceedings or, at the County's j <br /> option, the Deed of Trust Trustee shall sell (and is empowered to sell) all or any part of the <br /> Mortgaged Property (and if in part, any such sale shall in no way adversely affect the lien created <br /> by this Deed of Trust against the remainder) at public sale to the last and highest bidder for cash <br /> (free of any equity of redemption, homestead, dower, curtesy or other exemption, all of which <br /> the Property Owners expressly waive to the extent permitted by law) after compliance with <br /> applicable State laws relating to foreclosure sales under power of sale. The Deed of Trust <br /> Trustee and shall execute and deliver a proper deed or deeds to the successful purchaser at such <br /> sale. <br /> (b) Coun . 's Bid. The County may bid and become the purchaser at any sale under <br /> this Deed of Trust. In lieu of paying cash therefor,the County may make settlement for the <br /> 7 <br /> i <br />