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10A Action 2014 0915
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10A Action 2014 0915
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9/17/2014 2:43:50 PM
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9/10/2014 12:39:36 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
9/15/2014
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_CC Agenda 2014 0915 CS+RG
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\City Clerk\City Council\Agenda Packets\2014\Packet 2014 0915
Reso 2014-104
(Reference)
Path:
\City Clerk\City Council\Resolutions\2014
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Documents and any other agreement of any nature whatsoever now or hereafter involving or <br />affecting the Security or any part thereof. <br />5.2 Agreement to Pay Attorneys' Fees and Expenses. In the event of any Event of <br />Default (as defined below) hereunder, and if the Beneficiary should employ attorneys or incur <br />other expenses for the collection of amounts due or the enforcement of performance or <br />observance of an obligation or agreement on the part of the Trustor in this Deed of Trust, the <br />Trustor agrees that it will, on demand therefor, pay to the Beneficiary the reasonable fees of such <br />attorneys and such other reasonable expenses so incurred by the Beneficiary; and any such <br />amounts paid by the Beneficiary shall be added to the indebtedness secured by the lien of this <br />Deed of Trust, and shall bear interest from the date such expenses are incurred at the lesser of ten <br />percent (10%) per annum or the maximum rate permitted by law. <br />5.3 Payment of the Principal. The Trustor shall pay to the Beneficiary the Principal <br />and 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 <br />property subject to this Deed of Trust shall be deemed to be fixtures and part of the real property <br />and this Deed of Trust shall constitute a fixtures filing under the California Commercial Code. <br />As to any personal property not deemed or permitted to be fixtures, this Deed of Trust shall <br />constitute a security agreement under the California Commercial Code. <br />5.5 Financing Statement. The Trustor shall execute and deliver to the Beneficiary <br />such financing statements pursuant to the appropriate statutes, and any other documents or <br />instruments as are required to convey to the Beneficiary a valid perfected security interest in the <br />Security. The Trustor agrees to perform all acts which the Beneficiary may reasonably request <br />so as to enable the Beneficiary to maintain such valid perfected security interest in the Security <br />in order to secure the payment of the Note in accordance with its terms. The Beneficiary is <br />authorized to file a copy of any such financing statement in any jurisdiction(s) as it shall deem <br />appropriate from time to time in order to protect the security interest established pursuant to this <br />instrument. <br />5.6 Operation of the Security. The Trustor shall operate the Security (and, in case of <br />a transfer of a portion of the Security subject to this Deed of Trust, the transferee shall operate <br />such 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 <br />inspect 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 <br />of race, color, creed, religion, sex, sexual orientation, marital status, national origin or ancestry in <br />the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the Security, nor shall <br />the Trustor itself or any person claiming under or through it establish or permit any such practice <br />8 <br />144\221\1488737.2
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