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Deed of Trust MTLG LLC
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Deed of Trust MTLG LLC
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Last modified
9/22/2020 10:09:10 AM
Creation date
9/22/2020 9:41:01 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
Retention
PERM
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5.2 Payment and Performance of Secured Obligations. Trustor will promptly <br />pay and perform all obligations of the Truster arising in connection with the Secured <br />Obligations in accordance with the respective terms thereof.- <br />5.3 Performance of Covenants.· Trustor will observe and perform all of <br />Trustor's covenants and agreements set forth in the Agreement; the Note, this Deed of <br />Trust, and all other instruments secured by the Property. <br />5.4 Use of Loan Proceeds; Maintenance of the Property. Trustor·covenants <br />that the Loan Proceeds shall be us·eQ solely for the purposes identified in the <br />Agreement. Trustor agrees (a) to keep the Property in good repair and in decent, safe, <br />sanitary, tenantable condition and repair, and permit no waste thereof; (b) not to commit <br />or suffer to be done or exist on or about thE? Land any condition causing the Property to <br />become less valuable; (c) to repair, restore, or rebuild promptly any buildings or <br />improvements on the Land that may become damaged or be destroyed while subject to <br />the. lien of this Deed of Trust; (d) to comply with all applicable laws, ordinances, and <br />governmental regulations affecting the Property or requiring any alteration or <br />improvement the;ireof, and norto suffer or permit any violations of any such law, <br />ordinance, or governmental regulation, nor of any covenant, condition, or restriction <br />affecting the Property; and (e) not to initiate or <=1cquiesce in any change in any zoning or <br />other land use or legal classification which c:iffects any of the Property without the · <br />Beneficiary's written consent. If there arises a condition in contravention of this Section, <br />and if the Trustor has not cured such condition within thirty (30) days after receiving a <br />Beneficiary notice of such a condition, then in addition to any other rights available to <br />the Beneficiary, the Beneficiary shall have the right ·(but not the obligatio,n) to perform all <br />acts necessary to cure such condition, and to establish or enforce a lien or other <br />encumbrance against the Property to recover its cost of cure. <br />5.5 Appear and Defend. Truster shall appear in and defend any action or <br />proceeding purporting to affect the Property or the rights or powers of the Beneficiary or <br />Trustee, and shall pay all costs and expenses, including cost of evidence of title and <br />attorney's fees in a reasonable sum, in any such action or proceeding in which the <br />·Beneficiary or Tru~tee may appear,· and in any suit brought by the Beneficiary to <br />foreclose this Deed of Trust. <br />5.6 Charges; Liens. Trustor shall pay prior to delinquency all taxes, <br />assessments, and other charges, fines, and impositions affecting the Property directly to <br />the payee thereof. Upon request of Beneficiary, Truster shall promptly furnish to <br />Beneficiary copies of. all notices of such amounts due and shall promptly furnish to <br />Beneficiary receipts evidencing all such payments made. Trustor shall paywhen due <br />each obligation secured by or reducible to a lien, charge, or encumbrance which now <br />does or later may encumber or appear t<;> encumber all or pa,rt of the Property or any <br />interest therein, whether or not such lien, charge, or encumbrance is or would be senior <br />or subordinate to this Deed of Trust. Truster shall not be required to pay any tax, <br />charge, or assessment so long as Truster is actively contesting its validity in good faith <br />and by appropriate legal proceedings which will operate to prevent the enforcement of <br />Exhibit C Page 4 of 16
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