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Inst 2015153646
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Inst 2015153646
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Last modified
7/2/2015 2:16:09 PM
Creation date
7/2/2015 2:15:03 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
7/15/2014
Recorded Document Type
Assignment of Rents
Deed of Trust
Retention
PERM
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The parties acknowledge that some of the Property may be determined under applicable <br /> law to be personal property or fixtures. To the extent that any Property may be or be <br /> determined to be personal property, Trustor as debtor hereby grants to Beneficiary as <br /> secured party a security interest in all such Property to secure payment and performance of <br /> the Secured Obligations. This Deed of Trust constitutes a security agreement under the <br /> California Uniform Commercial Code, as amended or recodified from time to time (the <br /> "UCC"), covering all such Property. To the extent such Property is not real property <br /> encumbered by the lien granted above, and is not absolutely assigned by the assignment <br /> set forth above, it is the intention of the parties that such Property shall constitute <br /> "proceeds, products, offspring, rents, or profits" (as defined in and for the purposes of <br /> Section 552(b) of the United States Bankruptcy Code, as such section may be modified or <br /> supplemented) of the Land and Improvements. <br /> 5. Financing Statements. Pursuant to the UCC, Trustor, as debtor, hereby authorizes <br /> Beneficiary, as secured party, to file such financing statements and amendments thereof <br /> and such continuation statements with respect thereto as Beneficiary may deem <br /> appropriate to perfect and preserve Beneficiary's security interest in the Property and <br /> Rents, without requiring any signature or further authorization by Trustor. If requested by <br /> Beneficiary, Trustor shall pay all fees and costs that Beneficiary may incur in filing such <br /> documents in public offices and in obtaining such record searches as Beneficiary may <br /> reasonably require. If any financing statement or other document is filed in the records <br /> normally pertaining to personal property, that filing shall not be construed as in any way <br /> derogating from or impairing this Deed of Trust or the rights or obligations of the parties <br /> under it. <br /> Everything used in connection with the Property and/or adapted for use therein and/or <br /> which is described or reflected in this Deed of Trust is, and at all times and for all purposes <br /> and in all proceedings both legal or equitable shall be regarded as part of the estate <br /> encumbered by this Deed of Trust irrespective of whether (i) any such item is physically <br /> attached to the Improvements, (ii) serial numbers are used for the better identification of <br /> certain equipment items capable of being thus identified in a recital contained herein or in <br /> any list filed with Beneficiary, or (iii) any such item is referred to or reflected in any such <br /> financing statement so filed at any time. Similarly, the mention in any such financing <br /> statement of(1) rights in or to the proceeds of any fire and/or hazard insurance policy, or <br /> (2) any award in eminent domain proceedings for a taking or for lessening of value, or (3) <br /> Trustor's interest as lessor in any present or future lease or rights to income growing out of <br /> the use and/or occupancy of the property conveyed hereby, whether pursuant to lease or <br /> otherwise, shall not be construed as in any way altering any of the rights of Beneficiary as <br /> determined by this instrument or impugning the priority of Beneficiary's lien granted hereby <br /> or by any other recorded document. Such mention in any financing statement is declared to <br /> be solely for the protection of Beneficiary in the event any court or judge shall at any time <br /> hold, with respect to the matters set forth in the foregoing clauses (1), (2), and (3), that <br /> notice of Beneficiary's priority of interest is required in order to be effective against a <br /> particular class of persons, including but not limited to the federal government and any <br /> subdivisions or entity of the federal government. <br /> 6. Fixture Filing. This Deed of Trust is intended to be and constitutes a fixture filing <br /> 1172395-3 4 <br /> Commercial Rehabilitation Loan Program <br /> Owner Participation and Loan Agreement <br /> Form: 10-20-09 <br />
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