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Inst 2014298536
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Inst 2014298536
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2/6/2015 10:08:55 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
12/1/2014
Recorded Document Type
Deed of Trust
Assignment of Rents
Retention
PERM
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Inst 2014298535
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7.2. Condition of Property.Trustor represents and warrants that except as disclosed to <br /> Beneficiary in writing, as of the date hereof: (i) Trustor has not received nor is Trustor aware that <br /> BART has received any notice from any governmental authority of any threatened or pending <br /> zoning, building, fire, or health code violation or violation of other governmental regulations <br /> concerning the Property that has not previously been corrected, (ii) to Trustor's actual knowledge <br /> no condition on the Land violates any health, safety, fire, environmental, sewage, building, or <br /> other federal, state or local law, ordinance or regulation; (iii) to Trustor's actual knowledge no <br /> contracts, licenses, leases or commitments regarding the maintenance or use of the Property or <br /> allowing any third party rights to use the Property are in force; (iv) to Trustor's actual knowledge <br /> there are no threatened or pending actions, suits, or administrative proceedings against or <br /> affecting the Property or any portion thereof or the interest of Trustor in the Property; (v) to <br /> Trustor's actual knowledge there are no threatened or pending condemnation, eminent domain, or <br /> similar proceedings affecting the Property or any portion thereof; (vi)Trustor has not received <br /> any notice from any insurer of defects of the Property which have not been corrected; (vii) to <br /> Trustor's actual knowledge there are no natural or artificial conditions upon the Land or any part <br /> thereof that could result in a material and adverse change in the condition of the Land; (viii) all <br /> information that Trustor has delivered to Beneficiary,either directly or through Trustor's agents, <br /> is accurate and complete; and (ix)Trustor or Trustor's agents have disclosed to Beneficiary all <br /> material facts concerning the Property. As used is this Deed of Trust, the phrase "Trustor's actual <br /> knowledge" means the actual knowledge of the following persons as of the Effective Date,based <br /> upon reasonable investigation: Adhi Nagraj, Project Manager. <br /> 7.3. Authority. Trustor represents and warrants that this Deed of Trust and all other <br /> documents delivered or to be delivered by Trustor in connection herewith: (a)have been duly <br /> authorized, executed, and delivered by Trustor; (b) are binding obligations of Trustor; and(c) do <br /> not violate the provisions of any agreement to which Trustor is a party or which affects the <br /> Property. Trustor further represents and warrants that there are no pending, or to Trustor's actual <br /> knowledge,threatened actions or proceedings before any court or administrative agency which <br /> may adversely affect Trustor's ownership of the Property. <br /> 7.4. Payment and Performance of Secured Obligations. Trustor shall promptly pay <br /> when due the principal and any interest due on the indebtedness evidenced by the Note, and shall <br /> promptly pay and perform all other obligations of Trustor arising in connection with the Secured <br /> Obligations or the Loan Documents in accordance with the respective terms thereof. <br /> 7.5. Use of Loan Proceeds; Preservation and Maintenance of Property; Compliance <br /> with Laws. Trustor covenants that it shall use the proceeds of the Loan (the "Loan Proceeds") <br /> solely for purposes authorized by the Loan Documents. Trustor covenants that it shall keep the <br /> Land and Improvements in good repair and condition, and from time to time shall make <br /> necessary repairs, renewals and replacements thereto so that the Property shall be preserved and <br /> maintained. Trustor covenants that it shall comply with all federal, state and local laws, <br /> regulations, ordinances and rules applicable to the Property and the Project, including without <br /> limitation all applicable requirements of state and local building codes and regulations and all <br /> applicable statutes and regulations relating to accessibility for the disabled. Trustor shall not <br /> remove, demolish or materially alter any Improvement without Beneficiary's consent, shall <br /> complete or restore promptly and in good and workmanlike manner any building, fixture or other <br /> improvement which may be constructed, damaged, or destroyed thereon, and shall pay when due <br /> 144\221\1596079.2 <br />
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