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Inst 2006181159
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Inst 2006181159
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Last modified
12/22/2010 5:10:26 PM
Creation date
12/22/2010 5:10:25 PM
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CM City Clerk-City Council
Document Date (6)
4/26/2006
Recorded Document Type
Deed of Trust
Retention
PERM
Document Relationships
Inst 2010336107
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2010
Inst 2010336109
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2010
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property or other loss occurring on the Land or in any improvement located thereon, whether <br /> caused by the negligence or any other act or omission of Trustor or any other person or by <br /> negligent, faulty, inadequate or defective design, building, construction or maintenance or any <br /> other condition or otherwise, (d) any claim, demand or cause of action, or any action or other <br /> proceeding, whether meritorious or not, brought or asserted against any Indemnitee which relates <br /> • to or arises out of the Property, or any Agency Document or any transaction contemplated <br /> thereby, or any failure of Trustor to comply with all applicable state, federal and local laws and <br /> regulations applicable to the Property, provided that no Indemnitee shall be entitled to <br /> indemnification under this Section for natters caused by such Indemnitee's gross negligence or <br /> willful misconduct. The obligations of Trustor under this Section shall survive the repayment of <br /> the Loan and shall be secured by this Deed of Trust. Notwithstanding any contrary provision <br /> contained herein, the obligations of Trustor under this Section shall survive any foreclosure <br /> proceeding, any foreclosure sale, any delivery of a deed in lieu of foreclosure, and any release or <br /> reconveyance of this Deed of Trust. <br /> a. Limitation of Liability. Beneficiary shall not be directly or indirectly liable to <br /> Trustor or any other person as a consequence of any of the following: (i) Beneficiary's exercise <br /> of or failure to exercise any rights, remedies or powers granted to Beneficiary in this Deed of <br /> Trust; (ii) Beneficiary's failure or refusal to perform or discharge any obligation or liability of <br /> Trustor under any agreement related to the Property or under this Deed of Trust; (iii) any waste <br /> committed by Trustor, the lessees of the Property or any third parties, or any dangerous or <br /> defective condition of the Property; or (iv) any loss sustained by Trustor or any third party <br /> resulting from any act or omission of Beneficiary in managing the Property after an Event of <br /> Default, unless the loss is caused by the willful m :.:conduct, gross negligence, or bad faith of <br /> Beneficiary. Trustor hereby expressly waives and releases all liability of the types described in <br /> this Section 7.11(a), and agrees that Trustor shall assert no claim related to any of the foregoing <br /> against Beneficiary. <br /> 7.12 Insurance and Condemnation Proceeds. Subject to the rights of any senior <br /> lienholders, any award of damages in connection with any condemnation for public use of, or <br /> injury to the Property or any part thereof is hereby assigned and shall be paid to Beneficiary who <br /> may apply such moneys to any indebtedness secured hereby in such order as Beneficiary may <br /> determine, or at the option of Beneficiary the entire amount so collected or any part thereof may <br /> be released to Trustor. Such application or release shall not cure or waive any default or notice of <br /> default hereunder or invalidate any act done pursuant to such notice. <br /> 7.13 Release, Extension, Modification. At any time and from time to time, without <br /> liability therefor and without notice, upon written request of Beneficiary and presentation of this <br /> Deed of Trust and the Agency Note for endorsement, Trustee may release or reconvey all or any <br /> part of the Property, consent to the making of any map or plat of the Land or part thereof, join in <br /> granting any easement or creating any restriction affecting the Property, or join in any extension <br /> agreement or other agreement affecting the lien or charge hereof. At any time and from time to <br /> titre, without liability therefor and without notice, Beneficiary may (i) release any person liable <br /> for payment of any Secured Obligation, (ii) extend the time for payment or otherwise alter the <br /> terms of payment of any Secured Obligation; (iii) accept additional real or personal property of <br /> any kind as security for any Secured Obligation, or (iv) substitute or release any property <br /> securing the Secured Obligations. <br /> 818010 -4 11 <br />
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