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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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days after written notice from Beneficiary or Trustee in the event of a monetary default, or <br /> within thirty (30) days after such written notice in the event of a nonmonetary default, provided <br /> that in the case of a nonmonetary default that in Beneficiary's reasonable judgment cannot <br /> reasonably be cured within thirty (30) days, an Event of Default shall not arise hereunder if <br /> 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 sixty (60) 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 Loan Document, and any other remedy existing at law or in equity or <br /> by statute. All of Beneficiary's rights and remedies shall be cumulative, and the exercise of any <br /> one or more of them shall not constitute an election of remedies. Beneficiary shall be entitled to <br /> collect all expenses incurred in pursuing the remedies provided hereunder, including without <br /> limitation reasonable attorneys' fees and costs. <br /> a. Acceleration. Beneficiary may declare any or all of the Secured <br /> Obligations, including without limitation all sums payable under the Note and this Deed of Trust, <br /> to be clue and payable immediately. <br /> b. Receiver. Beneficiary may apply to any court of competent jurisdiction <br /> for, and obtain appointment of, a receiver for the Property. <br /> c. Entry. Beneficiary, in person, by agent or by court- appointed receiver, <br /> may enter, take possession of manage and operate all or any part of the Property, and may also <br /> do any and all other things in connection with those actions that Beneficiary 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: taking and possessing copies of all of Trustor's or the then owner's <br /> books and records concerning the Property; entering into, enforcing, modifying, or canceling <br /> Leases on such terms and conditions as Beneficiary may consider proper; obtaining and evicting <br /> tenants; fixing or modifying Rents; collecting and receiving any payment of money owing to <br /> Trustor; completing any unfinished construction; and /or contracting for and making repairs and <br /> alterations. If Beneficiary so requests, Trustor shall assemble all of the Property that has been <br /> removed from the Land and make all of it available to Beneficiary at the site of the Land. Trustor <br /> hereby irrevocably constitutes and appoints Beneficiary as Trustor's attorney -in -fact to perform <br /> such acts and execute such documents as Beneficiary in its sole discretion may consider to be <br /> appropriate in connection with taking these measures, including endorsement of Trustor's name <br /> on any instruments. <br /> d. UCC Remedies. Beneficiary may exercise any or all of the remedies <br /> granted to a secured party under the UCC. <br /> e. Judicial Action. Beneficiary may bring an action in any court of <br /> competent jurisdiction to foreclose this Deed of Trust in the manner provided by law for <br /> foreclosure of mortgages on real property and /or to obtain specific enforcement of any of the <br /> covenants or agreements of this Deed of Trust. <br /> 1755157.4 16 <br />
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