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Deed of Trust MTLG LLC
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Deed of Trust MTLG LLC
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9/22/2020 10:09:10 AM
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CM City Clerk-City Council
Document Date (6)
4/10/2019
Recorded Document Type
Assignment of Rents
Deed of Trust
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PERM
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liquidator, or similar official for Borrower; (iv) makes an assignment for the benefit of its <br />creditors; or (v) admits in writing its inability to pay its debts as they become due. <br />(d) A court of competent jurisdiction enters an order or decree under <br />any Bankruptcy Law that (i) is for relief against Borrower in an involuntary case, (ii) <br />appoints a trustee, receiver, assignee, liquidator or similar official for Borrower or <br />substantially all of Borrower's assets, (iii) orders the liquidation of Borrower, or (iv) <br />issues or levies a judgment, writ, warrant of attachment or similar process against the <br />Property or the Improvements, and in each case the order or decree is not released, <br />vacated, dismissed, or fully bonded within sixty (60) days after its issuance. <br />(e) Borrower shall have assigned its assets for the benefit of its <br />creditors (other than pursuant to a mortgage loan) or suffered a sequestration or <br />attachment of an execution on any substantial part of its property, unless the property . <br />so assigned, sequestered, attached, or executed upon shall have been returned or <br />released within sixty (60) days after such event (unless a lesser time period is permitted <br />under any other mortgage on the Property, in which event such lesser time period shall <br />apply under this subsection as well) or prior to any sooner sale pursuant to such <br />sequestration, attachment, or execution; <br />(f) A default arises under any debt instrument secured by a mortgage <br />or deed of trust on the Property and remains uncured beyond any applicable cure <br />period such that the holder of such instrument has the right to accelerate payment <br />thereunder. <br />(g) Subject to Borrower's right to contest the following charges <br />pursuant to the Loan Documents, if Borrower fails to pay prior to delinquency taxes or <br />assessments due on the Property or the Improvements or fails to pay when due any <br />other charge that may result in a lien on the Property or Improvements, and Borrower <br />fails .to cure such default within thirty (10) days of the date of delinquency, but in all <br />events upon the imposition of any such tax or other lien: <br />(h) Any representation or warranty contained in this Agreement or any <br />application, financial statement, certificate, or report furnished in connection with the <br />loan or in connection with any request for disbursement of Loan Proceeds proves to <br />have been false or misleading in any material adverse respect when made. <br />(i) An event of default shall have been declared under any other Loan <br />Document subject to the applicable cure periods set forth in such documents. <br />U) Borrower defaults in the performance of any term, provision, <br />covenant, or agreement (other than an obligation enumerated in this Section 6) <br />contained in this Notice or in any other Loan Document, and unless such document <br />specifies a different cure period for such default, the default continues for ten (10) days <br />in the event of a monetary default or thirty (30) days in the event of a nonmonetary <br />default after the date upon which Lender shall have given written notice of the default to <br />Borrower (or such longer time as Lender may agree upon in writing), provided that in
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