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Deed of Trust Simas Trust
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Deed of Trust Simas Trust
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Last modified
7/9/2024 8:35:34 AM
Creation date
9/22/2020 9:41:22 AM
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CM City Clerk-City Council
Document Date (6)
7/18/2019
Recorded Document Type
Deed of Trust
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PERM
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may, also do any and all other things in connection with those actions that Beneficiary may <br />in its sole discretion consider neces~ary and appropriate to protect the security of this Deed <br />of Trust. Such other things may include: taking and possessing copies of all of Trustor's or <br />the then owner's books and records concerning the Property; entering into, enforcing, <br />modifying, or canceling Leases on such terms and conditions as Beneficiary may consider <br />proper; obtaining and evicting tenants; fixing or modifying Rents; collecting and receiving <br />any payment of money owing to Trustor; completing any unfinished construction; and/or <br />contracting for and making repairs and alterations. If Beneficiary so requests, Trustor shall <br />assemble all of the Property that has been removed from the Land and make all of it <br />·available to Beneficiary at the site of the Land. Trustor hereby irrevocably constitutes and <br />appoints Beneficiary as Trustor's attorney-in-fact to perform such acts and execute such <br />documents as Beneficiary in its sole discretion may consider to be appropriate in <br />connection with taking these measures, including endorsement of Trustor's name on any <br />instruments. Regardless of any provision of this Deed of Trust, Beneficiary shall not be <br />considered to have accepted any property other than cash or immediately available funds <br />in satisfaction of any obligation of Trustor to Beneficiary, unless Beneficiary has given <br />express written notice of Beneficiary's election of that remedy in accordance with UCC <br />Section 9621, as it may be amended or recodified from time to time. <br />(d) Cure; Protection of Security. Either Beneficiary or Trustee may cure <br />any breach or default of Trustor, and if it chooses to do so in connection with any such <br />cure, Beneficiary or Trustee may also enter the Property and/or do any and all other things <br />which it may in its sole discretion consider necessary and appropriate to protect the security <br />of this Deed of Trust. Such other things may include: appearing in and/or defending any <br />action or proceeding which purports to affect the security of, or the rights or powers of <br />Beneficiary or Trustee under, this Deed of Trust; paying, purchasing, contesting or <br />compromising any encumbrance, charge, lien or claim of lien which in Beneficiary's or · <br />Trustee's sole judgment is or may be senior in priority to this Deed of Trust, such judgment <br />of Beneficiary or Trustee to be conclusive as among Beneficiary, Trustee and Trustor; <br />obtaining insurance and/or paying any premiums or charges for insurance required to be <br />carried hereunder; otherwise caring for and protecting any and all of the Property; and/or <br />employing counsel, accountants, contractors and other appropriate persons to assist <br />Beneficiary or Trustee. Beneficiary and Trustee may take any of the actions permitted <br />under this Subsection 8.2(d) either with or without giving notice to any Person, except for <br />notices required under applicable law. Any amounts disbursed by Beneficiary pursuant to <br />this paragraph shall become additional indebtedness secured by this Deed of Trust. <br />(e) UCC Remedies. Beneficiary may exercise any or all of the remedies <br />granted to a secured party under the UCC. <br />(f) 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 <br />the covenants or agreements of this Deed of Trust. <br />(g) Power of Sale. Under the power of sale hereby granted, Beneficiary <br />shall have the discretionary right to cause some or all of the Property, including any <br />Property which constitutes personal property, to .be sold or otherwise disposed of in any <br />combination and in any manner permitted by applicable law.
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