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Inst 2011092526
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Inst 2011092526
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4/22/2011 4:50:04 PM
Creation date
4/22/2011 4:50:01 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
2/7/2011
Recorded Document Type
Deed of Trust
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PERM
Document Relationships
RDA Agmt 2011 Las Palmas Development Partners
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\City Clerk\City Council\Agreements\2011
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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 /> best efforts to ensure that provisions mandating such notice and allowing such right to <br /> cure shall be included in all such documents. Within three business days of Trustor's <br /> receipt thereof, Trustor shall provide Beneficiary with a copy of any notice of default <br /> Trustor receives in connection with any financing document secured by the Property or <br /> any part thereof. <br /> b. Defense of Security. At Trustor's sole expense, Trustor shall protect, <br /> preserve and defend the Property and title to and right of possession of the Property, <br /> the security of this Deed of Trust and the rights and powers of Beneficiary and Trustee <br /> created under it, against all adverse claims. <br /> c. Compensation; Reimbursement of Costs. Trustor agrees to pay all <br /> reasonable fees, costs and expenses charged by Beneficiary or Trustee for any service <br /> that Beneficiary or Trustee may render in connection with this Deed of Trust, including <br /> without limitation, fees and expenses related to provision of a statement of obligations <br /> or related to a reconveyance. Trustor further agrees to pay or reimburse Beneficiary for <br /> all costs, expenses and other advances which may be incurred or made by Beneficiary <br /> or Trustee in any efforts to enforce any terms of this Deed of Trust, including without <br /> limitation any rights or remedies afforded to Beneficiary or Trustee or both of them • <br /> under Sections 7.18 and 8.2, whether or not any lawsuit is filed, or in defending any <br /> action or proceeding arising under or relating to this Deed of Trust, including reasonable <br /> attorneys' fees and other legal costs, costs of any disposition of the Property under the <br /> power of sale granted hereunder or any judicial foreclosure, and any cost of evidence of <br /> title. <br /> d. Notice of Changes. Trustor shall give Beneficiary prior written notice of <br /> any change in the address of Trustor and the location of any Property, including books <br /> and records pertaining to the Property. <br /> 7.13 Indemnification. Trustor shall indemnify, defend (with counsel reasonably <br /> acceptable to Beneficiary), and hold harmless the Trustee and the lndemnitees (as <br /> defined in Section 7.11) from and against all Claims arising directly or indirectly in any <br /> manner in connection with or as a result of (a) any breach of Trustor's covenants under <br /> any Loan Document, (b) any representation by Trustor in any Loan Document which <br /> proves to be false or misleading in any material respect when made, (c) injury or death <br /> to persons or damage to property or other loss occurring on the Land or in any <br /> improvement located thereon, whether caused by the negligence or any other act or <br /> omission of Trustor or any other person or by negligent, faulty, inadequate or defective <br /> design, building, construction or maintenance or any other condition or otherwise, (d) <br /> any claim, demand or cause of action, or any action or other proceeding, whether <br /> meritorious or not, brought or asserted against any lndemnitee which relates to or arises <br /> out of the Property, or any Loan Document or any transaction contemplated thereby, or <br /> any failure of Trustor to comply with all applicable state, federal and local laws and <br /> regulations applicable to the Property, provided that no lndemnitee shall be entitled to <br /> 1582131.3 13 <br />
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