My WebLink
|
Help
|
About
|
Sign Out
Home
Deed of Trust Simas Trust
CityHall
>
City Clerk
>
City Council
>
Recorded Documents
>
2019
>
Deed of Trust Simas Trust
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/9/2024 8:35:34 AM
Creation date
9/22/2020 9:41:22 AM
Metadata
Fields
Template:
CM City Clerk-City Council
Document Date (6)
7/18/2019
Recorded Document Type
Deed of Trust
Retention
PERM
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
22
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
'" ( <br />\ <br />( <br />\ <br />Property. ,Absent Beneficiary's written cons·ent, Trustor shall not accept prepayment of <br />Rents for any rental period exceedir,ig one month. <br />4. Security Agreement. The parties intend for this Deed of Trust to create a lien on the <br />· Property, and an absolute assignment of the Rents and Leases, all in favor of Beneficiary. <br />The parties acknowledge that some of the Property may be determined under applicable <br />law to be personal property or fixtures. To the extent that any Property may be or be <br />determined to be personal property, Trustor as debtor hereby grants to Beneficiary as <br />secured party a security interest in all such Property to secure payment and performance of <br />the Secured Obligations. This Deed of Trust constitutes a security agreement under the <br />California Uniform Commercial Code, as amended or recodified from time to time (the <br />"UCC"), covering all such Property. To the extent such Property is not real property <br />encumbered by the lien granted above, and is not absolutely assigned by the assignment <br />set forth above, it is the intention of the parties that such Property shall constitute <br />"proceeds, products, offspring, rents, or profits" (as defined in and for the purposes of <br />Section 552(b) of the United States Bankruptcy Code, as such section may be modified or <br />supplemented) of the Land and Improvements. <br />5. Financing Statements. Pursuant to the UCC, Trustor, as debtor, hereby authorizes <br />Beneficiary, as secured party, to file such financing statements and amendments thereof <br />and such continuation statements with respect thereto as Beneficiary may deem <br />appropriate to perfect and preserve Beneficiary's security interest in the Property and <br />Rents, without requiring any signature or further authorization by Trustor. If requested by <br />Beneficiary, Trustor shall pay all fees and costs that Beneficiary may incur in filing such <br />documents in public offices and in obtaining such record searches as Beneficiary may <br />reasonably require. If any financing statement or other document is filed in the records <br />normally pertaining to personal property, that filing shall not be construed as in any way <br />derogating from or impairing this Deed of Trust or the rights or obligations of the parties <br />under it. <br />Everything used in connection with the Property and/or adapted for use therein and/or <br />which is described or reflected in this Deed of Trust is, and at all times and for all purposes <br />and in all proceedings both legal or equitable shall be regarded as part of the estate <br />encumbered by this Deed of Trust irrespective of whether (i) any such item is physically <br />attached to the Improvements, (ii) serial numbers are used for the better identification of <br />certain equipment items capable of being thus identified in a recital contained herein or in <br />any list filed with Beneficiary, or (iii) any such item is referred to or reflected in any such <br />financing statement so filed at any time. Similarly, the mention in any such financing <br />statement of (1) rights in or to the proceeds of any fire and/or hazard insurance policy, or <br />(2) any award in eminent domain proceedings for a taking or for lessening of value, or (3) <br />Trustor's interest as lessor in any present or future lease or rights to income growing out of <br />the use and/or occupancy of the property conveyed hereby, whether pursuant to lease or <br />otherwise, shall not be construed as in any way altering any of the rights of Beneficiary as <br />determined by this instrument or impugning the priority of Beneficiary's lien granted hereby <br />or by any other recorded documer:it. Such mention in any financing statement is declared to <br />be solely for the protection of Beneficiary in the event any court or judge shall at any time <br />hold, with respect to the matters set forth in the foregoing clauses (1 ), (2), and (3), that <br />notice of Beneficiary's priority of interest is required in order to be effective against a
The URL can be used to link to this page
Your browser does not support the video tag.