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Deed of Trust APN 782812 7528112 04232020
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Deed of Trust APN 782812 7528112 04232020
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9/22/2020 10:07:32 AM
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9/22/2020 9:40:42 AM
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CM City Clerk-City Council
Document Date (6)
4/23/2020
Recorded Document Type
Deed of Trust
Assignment of Rents
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PERM
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be required from time to time by Beneficiary; and provided further that Truster shall timely <br />make any payment necessary to prevent a lien foreclosure, sale, forfeiture or loss of the Property. <br />7.7 Subrogation. Beneficiary shall be subrogated to the liens of all encumbrances, <br />whether released of record or not, which are discharged in whole or in part by Beneficiary in <br />accordance with this Deed of Trust. <br />7.8 Hazard, Liability and Workers' Compensation Insurance. At all times during the <br />term hereof, Truster shall at Truster's expense, maintain insurance policies in accordance with <br />the requirements set forth in the City Documents. Truster shall file with Beneficiary prior to the <br />commencement of the term hereof, certificates (or such other proof as Beneficiary may <br />reasonably require, including without limitation copies of the required insurance policies) <br />evidencing each of the insurance policies and endorsements thereto as required pursuant to the <br />City Documents, and such certificates (or policies) shall provide that at least thirty (30) days' <br />prior written notice shall be provided to Beneficiary prior to the expiration, cancellation or <br />change in coverage under each such policy. If any insurance policy required pursuant to the City <br />Documents is canceled or the coverage provided thereunder is reduced, Truster shall, within ten <br />( 10) days after receipt of written notice of such cancellation or reduction in coverage, but in no <br />event later than the effective date of cancellation or reduction, file with Beneficiary a certificate <br />showing that the required insurance has been reinstated or provided through another insurance <br />company or companies. Upon failure to so file such certificate, Beneficiary may, without further <br />notice and at its option, procure such insurance coverage at Truster's expense, and Truster shall <br />promptly reimburse Beneficiary for such expense upon receipt of billing from Beneficiary. <br />7 .9 Condition of Property. Truster represents and warrants that except as disclosed <br />to Beneficiary in writing, as of the date hereof: (i) Truster has not received any notice from any <br />governmental authority of any threatened or pending zoning, building, fire, or health code <br />violation or violation of other governmental regulations concerning the Land that has not <br />previously been corrected, and no condition on the Land violates any health, safety, fire, <br />environmental, sewage, building, or other federal, state or local law, ordinance or regulation; (ii) <br />no contracts, licenses, leases or commitments regarding the maintenance or use of the Property <br />or allowing any third party rights to use the Property are in force; (iii) there are no threatened or <br />pending actions, suits, or administrative proceedings against or affecting the Property or any <br />portion thereof or the interest of Truster in the Property; (iv) there are no threatened or pending <br />condemnation, eminent domain, or similar proceedings affecting the Land or any portion thereof; <br />(v) Trustor has not received any notice from any insurer of defects of the Property which have <br />not been corrected; (vi) there are no natural or artificial conditions upon the Land or any part <br />thereof that could result in a material and adverse change in the condition of the Land; (vii) all <br />information that Truster has delivered to Beneficiary, either directly or through Truster's agents, <br />is accurate and complete; and (viii) Truster or Truster's agents have disclosed to Beneficiary all <br />material facts concerning the Property. <br />7 .10 Hazardous Materials. Trustor represents and warrants that except as disclosed to <br />Beneficiary in writing, as of the date hereof to the best knowledge of Truster: (i) the Land is <br />free and has always been free of Hazardous Materials (as defined below) and is not and has <br />never been in violation of any Environmental Law (as defined below); (ii) there are no buried or <br />partially buried storage tanks located on the Land; (iii) Truster has received no notice, warning, <br />2890663.l 7
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