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Inst 2012080053
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Inst 2012080053
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Last modified
2/6/2015 10:16:58 AM
Creation date
4/12/2012 12:55:47 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
2/1/2012
Recorded Document Type
Deed of Trust
Assignment of Rents
Retention
PERM
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• <br /> agreement or other agreement affecting the lien or charge hereof. At any time and from time to <br /> time, 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 /> 7.17 Reconvevance. Upon written request of Beneficiary stating that all of the Secured <br /> Obligations have been paid in full, and upon surrender of this Deed of Trust, and the Note, <br /> Trustee shall reconvey, without warranty, the Property or so much of it as is then held under this <br /> Deed of Trust. The recitals in any reconveyance executed under this Deed of Trust of any <br /> matters or facts shall be conclusive proof of the truthfulness thereof. Trustor shall pay all fees of <br /> Trustee and all recordation fees related to such reconveyance. <br /> 7.18 Cure: Protection of Security. Either Beneficiary or Trustee may cure any breach <br /> or default of Trustor, and if it chooses to do so in connection with any such cure, Beneficiary or <br /> Trustee may also enter the Property and /or do any and all other things which it may in its sole <br /> discretion consider necessary and appropriate to protect the security of this Deed of Trust. Such <br /> other things may include: appearing in and /or defending any action or proceeding which purports <br /> to affect the security of, or the rights or powers of Beneficiary or Trustee under, this Deed of <br /> Trust; paying, purchasing contesting or compromising any encumbrance, charge, lien or claim <br /> of lien which in Beneficiary's or Trustee's sole judgment is or may be senior in priority to this <br /> Deed of Trust, such judgment of Beneficiary or Trustee to be conclusive as among Beneficiary, <br /> Trustee and Trustor; obtaining insurance and /or paying any premiums or charges for insurance <br /> required to be carried hereunder; otherwise caring for and protecting any and all of the Property; <br /> and /or employing counsel, accountants, contractors and other appropriate persons to assist <br /> Beneficiary or Trustee. Beneficiary and Trustee may take any of the actions permitted under this <br /> Section 7.18 either with or without giving notice, except for notices required under applicable <br /> law. Any amounts disbursed by Beneficiary pursuant to this paragraph shall become additional <br /> indebtedness secured by this Deed of Trust. <br /> 7.19 Limited Partners Right to Cure. Trustor's limited partners shall have the right to <br /> cure any default of Trustor hereunder upon the same terms and conditions afforded to Trustor. <br /> Provided that Beneficiary has been given written notice of the address for delivery of notices to <br /> the limited partners, Beneficiary shall provide any notice of default hereunder to the limited <br /> partners concurrently with the provision of such notice to Trustor, and as to the limited partners, <br /> the cure periods specified herein shall commence upon the date of delivery of such notice in <br /> accordance with Section 10.2. <br /> 8. Default and Remedies. <br /> 8.1 Events of Default. Trustor acknowledges and agrees that an Event of Default <br /> shall occur under this Deed of Trust upon the occurrence of any one or more of the following <br /> events: <br /> a. Beneficiary's declaration of an Event of Default under any Loan <br /> Document, subject to the expiration of any applicable cure period set forth in such document; <br /> 1755157.4 14 <br />
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