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Inst 2013042740
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Inst 2013042740
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2/6/2015 10:16:44 AM
Creation date
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
12/4/2012
Recorded Document Type
Deed of Trust
Assignment of Rents
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PERM
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Agmt 2008 Cornerstone Community Development Corp
(Reference)
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\City Clerk\City Council\Agreements\2008
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such loss. Trustor shall use best efforts to ensure that Beneficiary shall receive timely notice of, and shall <br /> have a right to cure, any default under any other financing document or other lien affecting the Property and <br /> shall use best efforts to ensure that provisions mandating such notice and allowing such right to cure shall <br /> be included in all such documents. Within three business days of Trustor's receipt thereof, Trustor shall <br /> provide Beneficiary with a copy of any notice of default Trustor receives in connection with any financing <br /> document secured by the Property or any part thereof. <br /> b. Defense of Security. At Trustor's sole expense, Trustor shall protect, preserve <br /> and defend the Property and Trustor's interest in and right of possession of the Property, the security of this <br /> Deed of Trust and the rights and powers of Beneficiary and Trustee created under it, against all adverse <br /> claims. <br /> c. Compensation; Reimbursement of Costs. Trustor agrees to pay all reasonable <br /> fees, costs and expenses charged by Beneficiary or Trustee for any service that Beneficiary or Trustee may <br /> render in connection with this Deed of Trust, including without limitation, fees and expenses related to <br /> provision of a statement of obligations or related to a reconveyance. Trustor further agrees to pay or <br /> reimburse Beneficiary for all costs, expenses and other advances which may be incurred or made by <br /> Beneficiary or Trustee in any efforts to enforce any terms of this Deed of Trust, including without limitation <br /> any rights or remedies afforded to Beneficiary or Trustee or both of them under Sections 7.18 and 8.2, <br /> whether or not any lawsuit is filed, or in defending any action or proceeding arising under or relating to this <br /> Deed of Trust, including reasonable attorneys'fees and other legal costs, costs of any disposition of the <br /> Property under the 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 any <br /> change in the address of Trustor and the location of any property, including books and records pertaining to <br /> the Property. <br /> 7.13 Indemnification. Trustor shall indemnify, defend (with counsel reasonably acceptable to <br /> Beneficiary), and hold harmless the Trustee and the Indemnitees (as defined in Section 7.11)from and <br /> against all Claims arising directly or indirectly in any manner in connection with or as a result of(a) any <br /> breach of Trustor's covenants under any Loan Document, (b) any representation by Trustor in any Loan <br /> Document which proves to be false or misleading in any material respect when made, (c) injury or death to <br /> persons or damage to property or other loss occurring on the Land or in any improvement located thereon, <br /> whether caused by the negligence or any other act or omission of Trustor or any other person or by <br /> negligent, faulty, inadequate or defective design, building, construction or maintenance or any other <br /> condition or otherwise, (d) any claim, demand or cause of action, or any action or other proceeding, <br /> whether meritorious or not, brought or asserted against any Indemnitee which relates to or arises out of the <br /> Property, or any Loan Document or any transaction contemplated thereby, or any failure of Trustor to <br /> comply with all applicable state, federal and local laws and regulations applicable to the Property, provided <br /> that no Indemnitee shall be entitled to indemnification under this Section for matters caused by such <br /> Indemnitee's gross negligence or willful misconduct. The obligations of Trustor under this Section shall <br /> survive the repayment of the Loan and shall be secured by this Deed of Trust. Notwithstanding any <br /> contrary provision contained herein, the obligations of Trustor under this Section shall survive any <br /> foreclosure proceeding, any foreclosure sale, any delivery of a deed in lieu of foreclosure, and any release <br /> or reconveyance of this Deed of Trust; provided however, following completion of a foreclosure or <br /> conveyance of the Property, Trustor shall not be liable for Claims arising from actions or inactions by third <br /> 2002455.2 11 <br />
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