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Inst 2011023352
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Inst 2011023352
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Last modified
2/6/2015 10:17:38 AM
Creation date
3/10/2011 1:17:47 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
6/28/2010
Recorded Document Type
Deed of Trust
Assignment of Rents
Retention
PERM
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Trustor's obligation to indemnify the lndemnitees shall not be limited or impaired <br /> by any of the following, or by any failure of Trustor to receive notice of or consideration <br /> for any of the following: (i) any amendment or modification of any Loan Document; (ii) <br /> any extensions of time for performance required by any Loan Document; (iii) any <br /> provision in any of the Loan Documents limiting Beneficiary's recourse to property <br /> securing the Secured Obligations, or limiting the personal liability of Trustor, or any <br /> other party for payment of all or any part of the Secured Obligations; (iv) the accuracy or <br /> inaccuracy of any representation and warranty made by Trustor under this Deed of <br /> Trust or by Trustor or any other party under any Loan Document, (v) the release of <br /> Trustor or any other person, by Beneficiary or by operation of law, from performance of <br /> any obligation under any Loan Document; (vi) the release or substitution in whole or in <br /> part of any security for the Secured Obligations; and (vii) Beneficiary's failure to properly <br /> perfect any lien or security interest given as security for the Secured Obligations. <br /> The provisions of this Section 7.11 shall be in addition to any and all other <br /> obligations and liabilities that Trustor may have under applicable law, and each <br /> Indemnitee shall be entitled to indemnification under this Section without regard to <br /> whether Beneficiary or that Indemnitee has exercised any rights against the Property or <br /> any other security, pursued any rights against any guarantor or other party, or pursued <br /> any other rights available under the Loan Documents or applicable law. The obligations <br /> of Trustor to indemnify the Indemnitees under this Section shall survive any repayment <br /> or discharge of the Secured Obligations, any foreclosure proceeding, any foreclosure <br /> sale, any delivery of any deed in lieu of foreclosure, and any release of record of the lien <br /> of this Deed of Trust. <br /> Without limiting any of the remedies provided in this Deed of Trust, Trustor <br /> acknowledges and agrees that each of the provisions in this Section 7.11 is an <br /> environmental provision (as defined in Section 736(0(2) of the California Code of Civil <br /> Procedure) made by Trustor relating to real property security (the "Environmental <br /> Provisions "), and that Trustor's failure to comply with any of the Environmental <br /> Provisions will be a breach of contract that will entitle Beneficiary to pursue the <br /> remedies provided by Section 736 of the California Code of Civil Procedure ( "Section <br /> 736 ") for the recovery of damages and for the enforcement of the Environmental <br /> Provisions. Pursuant to Section 736, Beneficiary's action for recovery of damages or <br /> enforcement of the Environmental Provisions shall not constitute an action within the <br /> meaning of Section 726(a) of the California Code of Civil Procedure or constitute a <br /> money judgment for a deficiency or a deficiency judgment within the meaning of <br /> Sections 580a, 580b, 580d, or 726(b) of the California Code of Civil Procedure. <br /> 7.12 Notice of Claims; Defense of Security; Reimbursement of Costs. <br /> (a) Notice of Claims. Trustor shall provide written notice to Beneficiary of any <br /> uninsured or partially uninsured loss affecting the Property through fire, theft, liability, or <br /> property damage in excess of an aggregate of Fifty Thousand Dollars ($50,000) within <br /> three business days of the occurrence of such loss. Trustor shall ensure that <br /> Beneficiary shall receive timely notice of, and shall have a right to cure, any default <br /> under any other financing document or other lien affecting the Property and shall use <br /> 1177360 -2 9 <br />
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