|
expenses, employ counsel, and pay reasonable attorneys' fees. Beneficiary may make or cause to be made
<br />reasonable entries upon and inspections of the Property, provided that Beneficiary shall give Trustor notice prior
<br />to any such inspection specifying reasonable cause therefore related to Beneficiary's interest in the Property.
<br />B. It is mutually agreed that:
<br />1. Condemnation Award. Subject to the rights of senior mortgagees, any award of damages in
<br />connection with any condemnation for public use of or injury to the Property or any part thereof is hereby
<br />assigned and shall be paid to Beneficiary who may apply such moneys received by it to any indebtedness
<br />secured hereby and in such order as Beneficiary may determine, or at option of Beneficiary the entire amount
<br />so collected or any part thereof may be released to Trustor. Such application or release shall not cure or waive `
<br />any default or notice of default hereunder or invalidate any act done pursuant to such notice.
<br />2. Late Payment. By accepting payment of any sum secured hereby after its due date,
<br />Beneficiary does not waive its right either to require prompt payment when due of all other sums so secured or
<br />to declare default for failure so to pay.
<br />3. Release and Subordination. At any time or from time to time, without liability therefore and
<br />without notice, upon written request of Beneficiary and presentation of this DEED OF TRUST and NOTE for
<br />endorsement, and without affecting the personal liability of any person for payment of the indebtedness secured
<br />hereby, Trustee may reconvey all or any part of said property; consent to the making of any map or plat thereof;
<br />join in granting any easement thereon; or join in any extension agreement or any agreement subordinating the
<br />lien or charge hereof.
<br />4. Reconveyance. Upon written request of Beneficiary stating that all sums secured hereby have
<br />been paid or forgiven, upon surrender of this DEED OF TRUST and the NOTE to Trustee for cancellation, and
<br />upon payment of its fees, Trustee shall reconvey, without warranty, the Property. The recitals in any
<br />reconveyance executed under this DEED OF TRUST of any matters or facts shall be conclusive proof of the
<br />truthfulness thereof.
<br />5. Rents, Issues, and Profits. As additional security, Trustor hereby gives to and confers upon
<br />Beneficiary the right, power, and authority, during the continuance of this Trust, to collect the rents, issues, and
<br />profits of the Property, reserving unto Trustor the right, prior to any default by Trustor in payment of any
<br />indebtedness secured hereby or in performance of any agreement hereunder, to collect and retain such rents,
<br />issues, and profits as they become due and payable. Upon any such default, Beneficiary may at any time
<br />without notice, either in person, by agent, or be a receiver to be appointed by a court; and without regard #o the
<br />adequacy of any security for the indebtedness hereby secured, enter upon and take possession of said property
<br />or any part thereof, in its own name sue for or otherwise collect such rents, issues, and profits, including those
<br />past due and unpaid, and apply the same, less costs and expenses of operation and collection, including
<br />reasonable attorneys' fees, upon any indebtedness secured hereby, and in such order as Beneficiary may
<br />determine. The entering upon and taking possession of said property, the collection of such rents, issues, and
<br />profits, and the application thereof as aforesaid, shall not cure or waive any default or notice of default
<br />hereunder or invalidate any act done pursuant to such notice.
<br />6. Notice. Except for any notice required under applicable law to be given in another manner, (a)
<br />any notice to Trustor provided for in this DEED OF TRUST shall be given by delivering it or by mailing such
<br />notice by certified mail return receipt requested addressed to Trustor at 835 E. 14th Street, San Leandro,
<br />California, or at such other address as Trustor may designate by notice to Beneficiary as provided herein, and
<br />(b) any notice to Beneficiary shall be given by certified mail return receipt requested to Beneficiary's address
<br />9397)?v1 C-4 fJwner Partieipatio~ A~re2ment
<br />'vity of Say Leandro Redevelopment Agency
<br />'!4~-'Id4 doaquan Avenge
<br />
|