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Deed of Trust 14873 Olivia Street
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Deed of Trust 14873 Olivia Street
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9/22/2020 10:05:49 AM
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9/22/2020 9:40:26 AM
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CM City Clerk-City Council
Document Date (6)
10/1/2018
Recorded Document Type
Performance Deed of Trust
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PERM
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12. Remedies Cumulative. Each remedy provided by this Deed of Trust is separate and <br />distinct and is cumulative to all other rights and remedies provided hereby or by applicable law, and <br />each may be exercised concurrently, independently or successively, in any order whatsoever. <br />13. Trustee. The Trustee shall be deemed to have accepted the terms of this Trust when this <br />Deed of Trust, duly executed and acknowledged, is made a public record as provided by law. <br />Trustee shall not be obligated to notify any party hereto of any pending sale under any other Deed <br />of Trust or of any action or proceeding in which Trustor, Beneficiary or Trustee is a party, unless <br />such sale relates to or reasonably might affect the Property or this Deed of Trust, or unless such <br />action or proceeding has been instituted by Trustee against the Property, Trustor or Beneficiary. <br />14. Reconveyance. Upon written request of Beneficiary reciting that the right to cure or <br />purchase will not be exercised by Beneficiary, surrender of this Deed of Trust to Trustee for <br />cancellation, and payment by Beneficiary of any reconveyance fees customarily charged by <br />Trustee, Trustee shall reconvey, without warranty, the Property as directed by Beneficiary and <br />Trustor in a joint writing. The recitals in such reconveyance of any matters of fact shall be <br />conclusive proof of the truthfulness thereof. <br />15. Substitution of Trustee. Beneficiary, at Beneficiary's option, may from time to time, by <br />written instrument approved in writing by Trustor, substitute a successor to Trustee named herein <br />or acting hereunder, which instrument, when executed and acknowledged by Beneficiary and <br />Trustor and recorded in the office of the Recorder of the county in which the Property is located, <br />shall constitute conclusive proof of the proper substitution of which successor Trustee, who shall, <br />without conveyance from the predecessor Trustee, succeed to all right, title, estate, powers and <br />duties of such predecessor Trustee, including without limitation, the power to reconvey the <br />Property. To be effective, such instrument must contain the name of the original Trustor, Trustee, <br />and Beneficiary hereunder, the book and page at which, and the county in which, this Deed of <br />Trust is recorded and the name and address of the substitute Trustee and be signed by Trustor. If <br />any notice of default has been recorded hereunder, this power of substitution cannot be exercised <br />until all costs, fees and expenses of the then acting Trustee have been paid. Upon such payment, <br />the then acting Trustee shall endorse receipt thereof upon the instrument of substitution. The <br />procedure herein provided for substitution of Trustees shall be exclusive of other provisions for <br />substitution provided by applicable law. <br />16. No Waiver by Beneficiary. No waiver by Beneficiary of any right or remedy provided by the <br />Declaration of Restrictions, this Deed of Trust or applicable law shall be effective unless such <br />waiver is in writing and subscribed by Beneficiary. Waiver by Beneficiary of any right or remedy <br />granted to Beneficiary under the Declaration of Restrictions or any provision thereof, this Deed of <br />Trust or applicable law as to any transaction or occurrence shall not be deemed a waiver as to any <br />future. transaction or occurrence. The assertion by Beneficiary of any right or remedy provided by <br />this Deed of Trust shall not constitute a waiver of Beneficiary's right to require prompt performance <br />of the Secured Obligation and Trustor's obligations under this Deed of Trust. <br />17. Consents and Approvals to be in Writing. Whenever the consent or approval of <br />Beneficiary or Trustor is specified as a condition of any provision of this Deed of Trust, such <br />consent or approval by Beneficiary or Trustor, as applicable, shall not be effective unless such <br />Performance Deed of Trust 5
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