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10B Action 2014 0203
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10B Action 2014 0203
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6/5/2019 8:03:39 AM
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1/28/2014 6:09:45 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
2/3/2014
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PERM
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_CC Agenda 2014 0203 CS+RG
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\City Clerk\City Council\Agenda Packets\2014\Packet 2014 0203
PowerPoint 10B Action 2014 0203 324 Lille Ave
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Path:
\City Clerk\City Council\Agenda Packets\2014\Packet 2014 0203
Reso 2014-009
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\City Clerk\City Council\Resolutions\2014
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will, on demand therefor, pay to the Beneficiary the reasonable fees of such attorneys and such other <br />reasonable expenses so incurred by the Beneficiary; and any such amounts paid by the Beneficiary <br />shall be added to the indebtedness secured by the lien of this Deed of Trust, and shall bear interest <br />from the date such expenses are incurred at the lesser of ten percent (10%) per annum or the <br />maximum rate permitted by law. <br />5.3 Payment of the Principal. The Trustor shall pay to the Beneficiary the Principal and <br />any other payments as set forth in the Note in the amounts and by the times set out therein. <br />5.4 Personal Property. To the maximum extent permitted by law, the personal property <br />subject to this Deed of Trust shall be deemed to be fixtures and part of the real property and this <br />Deed of Trust shall constitute a fixtures filing under the California Commercial Code. As to any <br />personal property not deemed or permitted to be fixtures, this Deed of Trust shall constitute a <br />security agreement under the California Commercial Code. <br />5.5 Financing Statement. The Trustor shall execute and deliver to the Beneficiary such <br />financing statements pursuant to the appropriate statutes, and any other documents or instruments as <br />are required to convey to the Beneficiary a valid perfected security interest in the Security. The <br />Trustor agrees to perform all acts which the Beneficiary may reasonably request so as to enable the <br />Beneficiary to maintain such valid perfected security interest in the Security in order to secure the <br />payment of the Note in accordance with its terms. The Beneficiary is authorized to file a copy of <br />any such financing statement in any jurisdiction(s) as it shall deem appropriate from time to time in <br />order to protect the security interest established pursuant to this instrument. <br />5.6 Operation of the Security. The Trustor shall operate the Security (and, in case of a <br />transfer of a portion of the Security subject to this Deed of Trust, the transferee shall operate such <br />portion of the Security) in full compliance with the Loan Documents. <br />5.7 Inspection of the Security. At any and all reasonable times upon seventy-two (72) <br />hours' notice, the Beneficiary and its duly authorized agents, attorneys, experts, engineers, <br />accountants and representatives, shall have the right, without payment of charges or fees, to inspect <br />the Security. <br />5.8 Nondiscrimination. The Trustor herein covenants by and for itself, its heirs, <br />executors, administrators, and assigns, and all persons claiming under or through them, that there <br />shall be no discrimination against or segregation of, any person or group of persons on account of <br />race, color, creed, religion, sex, sexual orientation, marital status, national origin or ancestry in the <br />sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the Security, nor shall the <br />Trustor itself or any person claiming under or through it establish or permit any such practice or <br />practices of discrimination or segregation with reference to the selection, location, number, use or <br />occupancy of tenants, lessees, subtenants, sublessees or vendees in the Security. The foregoing <br />covenants shall run with the land. <br />2220130.1 Page 29 <br />
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