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Inst 2000089919
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Inst 2000089919
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Last modified
8/27/2010 1:18:15 PM
Creation date
7/20/2010 1:14:09 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
3/27/2000
Recorded Document Type
Deed of Trust
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PERM
Document Relationships
Agmt 2000 Davis Street Community Center
(Reference)
Path:
\City Clerk\City Council\Agreements\2000
Reso 2000-003
(Approved by)
Path:
\City Clerk\City Council\Resolutions\2000
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9. Trustor's Right to Reinstate. Notwithstanding Beneficiary's acceleration of the <br />sums secured by this Deed of Trust due to Trustor's breach, Trustor shall have the right to have <br />any proceedings begun by Beneficiary to enforce this Deed of Trust discontinued at any time <br />prior to five days before sale of the Property pursuant to the power of sale contained in this <br />Deed of Trust or at any time prior to entry of a judgment enforcing this Deed of Trust if: (a) <br />Trustor pays Beneficiary all sums which would be then due under this Deed of Trust if the Note <br />had no acceleration provision; (b) Trustor cures all breaches of any other covenants or <br />agreements of Trustor contained in this Deed of Trust; (c) Trustor pays all reasonable expenses <br />incurred by Beneficiary and Trustee in enforcing the covenants and agreements of Trustor <br />contained in this Deed of Trust, and in enforcing Beneficiary's and Trustee's remedies as <br />provided herein, including, but not limited to, reasonable attorney's fees; and (d) Trustor takes <br />such action as Beneficiary may reasonably require to assure that the lien of this Deed of Trust, <br />Beneficiary's interest in the Property and Trustor's obligation to pay the sums secured by this <br />Deed of Trust shall continue unimpaired. Upon such payment and cure by Trustor, this Deed of <br />Trust and the obligations secured hereby shall remain in full force and effect as if no <br />acceleration had occurred. <br />11. Request for Notices. Trustor requests that copies of the notice of default and <br />notice of sale be sent to Trustor's address as set forth in Paragraph 6. Beneficiary requests that <br />copies of notices of foreclosure from the holder of any lien which has priority over this Deed of <br />Trust be sent to Beneficiary's address, as set forth on page one of this Deed of Trust, as <br />provided by Section 2924(b) of the Civil Code of California. <br />12. Statement of Obligation. Beneficiary may collect a fee not to exceed $50 for <br />furnishing the statement of obligation as provided by Section 2943 of the Civil Code of <br />California. <br />13. Utilization of Property. Trustor agrees that the property subject to this Deed of <br />Trust shall be utilized by Trustor for a community center as set forth in the Loan Agreement and <br />failure to so utilize constitutes a default under the Deed of Trust and the Note. <br />14. Successors and Assigns. This Deed of Trust applies to, inures to the benefit of, <br />and binds all parties hereto, their heirs, legatees, devisees, administrators, executors, <br />successors, and assigns. The term Beneficiary shall mean the holder and owner of the Note <br />secured hereby; or, if the Note has been pledged, the pledgee thereof. In this deed of Trust, <br />whenever the context so requires, the singular number includes the plural. <br />15. Other Sales, Actions, or Proceedings. Trustee is not obligated to notify any party <br />hereto of pending sale under any other Deed of Trust or of any action or proceeding in which <br />Trustor, Beneficiary, or Trustee shall be a party unless brought by Trustee. <br />16. Substitution of Trustee. Beneficiary may from time to time or at any time <br />substitute a Trustee or Trustees to execute the trust hereby created, and when any such <br />substitution has been filed for record in the office of the Recorder of the county in which the <br />Property is situated, it shall be conclusive evidence of the appointment of such Trustee or <br />Trustees, and such new Trustee or Trustees shall succeed to all of the powers and duties of the <br />6 <br />
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