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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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• <br /> other charge that may result in a lien on the Land or the Improvements, and Trustor fails to cure <br /> such default within 10 days. <br /> f. Any representation or warranty of Trustor contained in or made in <br /> connection with the execution and delivery of this Deed of Trust or in any certificate or <br /> statement furnished pursuant hereto or in any other Agency Document proves to have been false <br /> or misleading in any material adverse respect when made; <br /> g. If, pursuant to or within the meaning of the United States Bankruptcy <br /> Code or any other federal or state law relating to insolvency or relief of debtors ( "Bankruptcy <br /> Law "), Trustor (i) commences a voluntary case or proceeding; (ii) consents to the entry of an <br /> order for relief against Trustor in an involuntary case; (iii) consents to the appointment of a <br /> trustee, receiver, assignee, liquidator or similar official for Trustor; (iv) makes an assignment for <br /> the benefit of its creditors; or (v) admits in writing its inability to pay its debts as they become <br /> due. <br /> h. If a court of competent jurisdiction enters an order or decree under any <br /> Bankruptcy Law that (1) is for relief against Trustor in an involuntary case, (ii) appoints a trustee, <br /> receiver, assignee, liquidator or similar official for Trustor or substantially all of Trustor's assets, <br /> or (iii) issues or levies a judgment, writ, warrant of attachment or similar process against the <br /> Property or the Project, and in each case the order or decree is not released, vacated, dismissed or <br /> fully bonded within 60 days after its issuance. <br /> i. The holder of any other debt instrument secured b P.. :_-,rtgage or deed of <br /> trust on the Property or part thereof declares an event of default thereunder and exercises a right <br /> to declare all amounts due under that debt instrument immediately due and payable, subject to <br /> the expiration of any applicable cure period set forth in such holder's documents; or <br /> j. Trustor fails to perform any obligation arising under this Deed of Trust <br /> other than an obligation enumerated in this Section S.1. and does not cure that failure either <br /> within ten (10) days after written notice from Beneficiary or Trustee in the event of a monetary <br /> default, or within thirty (30) days after such written notice in the event of a nonmonetary default, <br /> provided that in the case of a nonmonetary default that in Beneficiary's reasonable judgment <br /> cannot reasonably be cured within thirty (30) days, an Event of Default shall not arise hereunder <br /> if Trustor commences to cure such default within thirty (30) days and thereafter prosecutes such <br /> cure to completion with due diligence and in good faith and in no event later than 120 days <br /> following receipt of notice of default. <br /> 8.2 Remedies. Subject to the applicable notice and cure provisions set forth herein, at <br /> any time after an Event of Default, Beneficiary and Trustee shall be entitled to invoke any and all <br /> of the rights and remedies described below, and may exercise any one or more or all, of the <br /> remedies set forth in any Agency Document, and any other remedy existing at law or in equity. <br /> All of Beneficiary's rights and remedies shall be cumulative, and the exercise of any one or more <br /> of them shall not constitute an election of remedies. Beneficiary shall be entitled to collect all <br /> expenses incurred in pursuing the remedies provided hereunder, including without limitation <br /> reasonable attorneys' fees and costs. <br /> 818010 -4 13 <br />
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