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Inst 2016145589
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Inst 2016145589
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Last modified
2/8/2018 8:58:09 AM
Creation date
7/7/2016 2:42:53 PM
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CM City Clerk-City Council
Document Date (6)
6/9/2016
Recorded Document Type
Deed of Trust
Assignment of Rents
Retention
PERM
Document Relationships
_CC Agenda 2014 0616 CS+RG
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2014\Packet 2014 0616
10A Action 2014 0616
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2014\Packet 2014 0616
Reso 2014-065
(Reference)
Path:
\City Clerk\City Council\Resolutions\2014
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C. Entry. Beneficiary, in person, by agent or by court-appointed receiver, <br />may enter, take possession of, manage and operate all or any part of the Property, and may also <br />do any and all other things in connection with those actions that Beneficiary may in its sole <br />discretion consider necessary and appropriate to protect the security of this Deed of Trust. Such <br />other things may include: taking and possessing copies of all of Trustor's or the then owner's <br />books and records concerning the Property; entering into, enforcing, modifying, or canceling <br />Leases on such terms and conditions as Beneficiary may consider proper; obtaining and evicting <br />tenants; fixing or modifying Rents; collecting and receiving any payment of money owing to <br />Trustor; completing any unfinished construction; and/or contracting for and making repairs and <br />alterations. If Beneficiary so requests, Trustor shall assemble all of the Property that has been <br />removed from the Land and make all of it available to Beneficiary at the site of the Land. Trustor <br />hereby irrevocably constitutes and appoints Beneficiary as Trustor's attorney-in-fact to perform <br />such acts and execute such documents as Beneficiary in its sole discretion may consider to be <br />appropriate in connection with taking these measures, including endorsement of Trustor's name <br />on any instruments. <br />d. UCC Remedies. Beneficiary may exercise any or all of the remedies <br />granted to a secured party under the UCC. <br />e. Judicial Action. Beneficiary may bring an action in any court of <br />competent jurisdiction to foreclose this Deed of Trust in the manner provided by law for <br />foreclosure of mortgages on real property and/or to obtain specific enforcement of any of the <br />covenants or agreements of this Deed of Trust. <br />f. Power of Sale. Under the power of sale hereby granted, Beneficiary shall <br />have the discretionary right to cause some or all of the Property, including any Property which <br />constitutes personal property, to be sold or otherwise disposed of in any combination and in any <br />manner permitted by applicable law. <br />8.3 Power of Sale. If Beneficiary elects to invoke the power of sale hereby granted, <br />Beneficiary shall execute or cause the Trustee to execute a written notice of such default and of <br />its election to cause the Property to be sold to satisfy the obligations hereof, and shall cause such <br />notice to be recorded in the office of the Recorder of each County wherein the Property or some <br />part thereof is situated as required by law and this Deed of Trust. <br />Prior to publication of the notice of sale, Beneficiary shall deliver to Trustee this Deed of <br />Trust and the Note or other evidence of indebtedness which is secured hereby, together with a <br />written request for the Trustee to proceed with a sale of the Property, pursuant to the provisions <br />of law and this Deed of Trust. <br />Notice of sale having been given as then required by law, and not less than the time then <br />required by law having elapsed after recordation of such notice of default, Trustee, without <br />demand on Trustor, shall sell the Property at the time and place fixed by it in the notice of sale, <br />either as a whole or in separate parcels and in such order as it may determine, at public auction to <br />the highest bidder for cash in lawful money of the United States, payable at time of sale. Trustee <br />may, and at Beneficiary's request shall, postpone sale of all or any portion of the Property by <br />public announcement at such time and place of sale, and from time to time thereafter may <br />15 <br />
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