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Inst 2015153646
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Inst 2015153646
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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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• <br /> available under the Loan Documents or applicable law. The obligations of Trustor to <br /> indemnify the Indemnitees under this Section shall survive any repayment or discharge of <br /> the Secured Obligations, any foreclosure proceeding, any foreclosure sale, any delivery of <br /> any deed in lieu of foreclosure, and any release of record of the lien of this Deed of Trust. <br /> Without limiting any of the remedies provided in this Deed of Trust, Trustor <br /> acknowledges and agrees that each of the provisions in this Section 7.11 is an <br /> environmental provision (as defined in Section 736(f)(2) of the California Code of Civil <br /> Procedure) made by Trustor relating to real property security (the "Environmental <br /> Provisions"), and that Trustor's failure to comply with any of the Environmental Provisions <br /> will be a breach of contract that will entitle Beneficiary to pursue the remedies provided by <br /> Section 736 of the California Code of Civil Procedure ("Section 736") for the recovery of <br /> damages and for the enforcement of the Environmental Provisions. Pursuant to Section <br /> 736, Beneficiary's action for recovery of damages or enforcement of the Environmental <br /> Provisions shall not constitute an action within the meaning of Section 726(a) of the <br /> California Code of Civil Procedure or constitute a money judgment for a deficiency or a <br /> deficiency judgment within the meaning of Sections 580a, 580b, 580d, or 726(b) of the <br /> California Code of Civil Procedure. <br /> 7.12 Notice of Claims; Defense of Security; Reimbursement of Costs. <br /> (a) Notice of Claims. Trustor shall provide written notice to Beneficiary of any <br /> uninsured or partially uninsured loss affecting the Property through fire, theft, liability, or <br /> property damage in excess of an aggregate of Fifty Thousand Dollars ($50,000) within <br /> three business days of the occurrence of such loss. Trustor shall ensure that Beneficiary <br /> shall receive timely notice of, and shall have a right to cure, any default under any other <br /> financing document or other lien affecting the Property and shall use best efforts to ensure <br /> that provisions mandating such notice and allowing such right to cure shall be included in <br /> 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 <br /> any financing document secured by the Property or any part thereof. <br /> (b) Defense of Security. At Trustor's sole expense, Trustor shall protect, <br /> preserve and defend the Property and title to and right of possession of the Property, the <br /> security of this Deed of Trust and the rights and powers of Beneficiary and Trustee created <br /> under it, against all adverse claims. <br /> (c) Compensation; Reimbursement of Costs. Trustor agrees to pay all <br /> reasonable fees, costs and expenses charged by Beneficiary or Trustee for any service that <br /> Beneficiary or Trustee may render in connection with this Deed of Trust, including without <br /> limitation, fees and expenses related to provision of a statement of obligations or related to <br /> a reconveyance. Trustor further agrees to pay or reimburse Beneficiary for all costs, <br /> expenses and other advances which may be incurred or made by Beneficiary or Trustee in <br /> any efforts to enforce any terms of this Deed of Trust, including any rights or remedies <br /> afforded to Beneficiary or Trustee or both of them under Section 8.2, whether or not any <br /> 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 <br /> disposition of the Property under the power of sale granted hereunder or any judicial <br /> 1172395-3 9 <br /> Commercial Rehabilitation Loan Program <br /> Owner Participation and Loan Agreement <br /> Form: 10-20-09 <br />
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