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Inst 94326079
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Inst 94326079
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Last modified
3/10/2025 6:03:04 PM
Creation date
6/29/2016 3:29:58 PM
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CM City Clerk-City Council
Document Date (6)
10/6/1994
Recorded Document Type
Deed of Trust
Assignment of Rents
Retention
PERM
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• <br />94326039 <br />reconveyance executed under this Deed of Trust of any <br />matters or facts shall be conclusive proof of the <br />truthfulness thereof. The grantee in such reconveyance <br />may be described as "the person or persons legally <br />entitled thereto." <br />(5) As additional security, Trustor hereby gives to <br />and confers upon Beneficiary the right, power and authority, <br />during the continuance of these Trusts, to collect the <br />rents, issues and profits of said property, reserving unto <br />Trustor the right, prior to any default by Trustor in <br />payment of any indebtedness secured hereby or in performance <br />of any agreement hereunder, to collect and retain such <br />rents, issues and profits as they become due and payable. <br />Upon any such default, Beneficiary may at any time without <br />notice, either in person, by agent, or by a receiver to be <br />appointed by a court, and without regard to the adequacy of <br />any security for the indebtedness hereby secured, enter upon <br />and take possession of said property or any part thereof, in <br />his own name sue for or otherwise collect such rents, issues <br />and profits, including those past due and unpaid, and apply <br />the same, less costs and expenses of operation and <br />collection, including reasonable attorney's fees, upon any <br />indebtedness secured hereby, and in such order as <br />Beneficiary may determine. The entering upon and taking <br />possession of said property, the collection of such rents, <br />issues and profits and the application thereof as aforesaid, <br />shall not cure or waive any default or notice of default <br />thereunder or invalidate any act done pursuant to such <br />notice. <br />(6) Upon default by Trustor in payment of any <br />indebtedness secured hereby or in performance of any <br />agreement hereunder, all sums secured hereby shall <br />immediately become due and payable at the option of the <br />Beneficiary. In the event of default, Beneficiary may <br />employ counsel to enforce payment of the obligations secured <br />hereby, and shall execute or cause the Trustee to execute a <br />written notice of such default and of his election to cause <br />to be sold the herein described property to satisfy the <br />obligations hereof, and shall cause such notice to be <br />recorded in the office of the Recorder of each county <br />wherein said real property or some part thereof is situated. <br />Prior to publication of the notice of sale, Beneficiary <br />shall deliver to Trustee this Deed of Trust and the Note or <br />other evidence of indebtedness which is secured hereby, <br />together with a written request for the Trustee to proceed <br />with a sale of the property described herein, pursuant to <br />the provisions of law and this Deed of Trust. <br />5 <br />
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