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Inst 2009198747
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Inst 2009198747
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Last modified
7/17/2009 3:29:09 PM
Creation date
7/17/2009 3:29:08 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
5/7/2009
Recorded Document Type
Deed of Trust
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PERM
Document Relationships
RDA Agmt 2009 Scribner Family Partnership Ltd
(Reference)
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\City Clerk\City Council\Agreements\2009
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"mortgagee in possession," shall not be responsible for performing any obligation of <br />Trustor under any Lease, shall not be liable in any manner for the Property, or the use, <br />occupancy, enjoyment or operation of any part of it, and shall not be responsible for any <br />waste committed by lessees or any third parties, or for dangerous or defective condition <br />of the Property or any negligence in the management, repair or control of the Property. <br />Absent Beneficiary's written consent, Trustor shall not accept prepayment of Rents for <br />any rental period exceeding one month. <br />4. Security Agreement. The parties intend for this Deed of Trust to create a lien on <br />the Property, and an absolute assignment of the Rents and Leases, all in favor of <br />Beneficiary. The parties acknowledge that some of the Property may be determined <br />under applicable law to be personal property or fixtures. To the extent that any Property <br />may be or be determined to be personal property, Trustor as debtor hereby grants to <br />Beneficiary as secured party a security interest in all such Property to secure payment <br />and performance of the Secured Obligations. This Deed of Trust constitutes a security <br />agreement under the California Uniform Commercial Code, as amended or recodified <br />from time to time (the "UCC"), covering all such Property. To the extent such Property <br />is not real property encumbered by the lien granted above, and is not absolutely <br />assigned by the assignment set forth above, it is the intention of the parties that such <br />Property shall constitute "proceeds, products, offspring, rents, or profits" (as defined in <br />and for the purposes of Section 552(b) of the United States Bankruptcy Code, as such <br />section may be modified or supplemented) of the Land and Improvements. <br />5. Financing Statements. Pursuant to the UCC, Trustor, as debtor, hereby <br />authorizes Beneficiary, as secured party, to file such financing statements and <br />amendments thereof and such continuation statements with respect thereto as <br />Beneficiary may deem appropriate to perfect and preserve Beneficiary's security interest <br />in the Property and Rents, without requiring any signature or further authorization by <br />Trustor. If requested by Beneficiary, Trustor shall pay all fees and costs that Beneficiary <br />may incur in filing such documents in public offices and in obtaining such record <br />searches as Beneficiary may reasonably require. If any financing statement or other <br />document is filed in the records normally pertaining to personal property, that filing shall <br />not be construed as in any way derogating from or impairing this Deed of Trust or the <br />rights or obligations of the parties under it. <br />Everything used in connection with the Property and/or adapted for use therein and/or <br />which is described or reflected in this Deed of Trust is, and at all times and for all <br />purposes and in all proceedings both legal or equitable shall be regarded as part of the <br />estate encumbered by this Deed of Trust irrespective of whether (i) any such item is <br />physically attached to the Improvements, (ii) serial numbers are used for the better <br />identification of certain equipment items capable of being thus identified in a recital <br />contained herein or in any list filed with Beneficiary, or (iii) any such item is referred to or <br />reflected in any such financing statement so filed at any time. Similarly, the mention in <br />any such financing statement of (1) rights in or to the proceeds of any fire and/or hazard <br />insurance policy, or (2) any award in eminent domain proceedings for a taking or for <br />lessening of value, or (3) Trustor's interest as lessor in any present or future lease or <br />rights to income growing out of the use and/or occupancy of the property conveyed <br />1177360.-2 4 <br />
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