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Last modified
9/30/2025 3:42:16 PM
Creation date
12/19/2022 4:05:09 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agenda
Document Date (6)
12/19/2022
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Reso 2022-225 3rd Amendment to Shoreline DDA_PSA KB
(Amended)
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\City Clerk\City Council\Resolutions\2022
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<br /> 15 <br />release, discharge, modify, change or affect the original liability under this Deed of Trust, or any <br />other obligation of the Trustor or any subsequent purchaser of the Security or any part thereof, or <br />any maker, co-signer, endorser, surety or guarantor (unless expressly released); nor shall any <br />such act or omission preclude the Beneficiary from exercising any right, power or privilege <br />herein granted or intended to be granted in any Event of Default then made or of any subsequent <br />Event of Default, nor, except as otherwise expressly provided in an instrument or instruments <br />executed by the Beneficiary shall the lien of this Deed of Trust be altered thereby. <br /> <br />Section 7.8 Suits to Protect the Security. <br />The Beneficiary shall have power to (a) institute and maintain such suits and proceedings <br />as it may deem expedient to prevent any impairment of the Security and the rights of the <br />Beneficiary as may be unlawful or any violation of this Deed of Trust, (b) preserve or protect its <br />interest (as described in this Deed of Trust) in the Security, and (c) restrain the enforcement of or <br />compliance with any legislation or other governmental enactment, rule or order that may be <br />unconstitutional or otherwise invalid, if the enforcement for compliance with such enactment, <br />rule or order would impair the Security thereunder or be prejudicial to the interest of the <br />Beneficiary. <br />Section 7.9 Trustee May File Proofs of Claim. <br />In the case of any receivership, insolvency, bankruptcy, reorganization, arrangement, <br />adjustment, composition or other proceedings affecting the Trustor, its creditors or its property, <br />the Beneficiary, to the extent permitted by law, shall be entitled to file such proofs of claim and <br />other documents as may be necessary or advisable in order to have the claims of the Beneficiary <br />allowed in such proceedings and for any additional amount which may become due and payable <br />by the Trustor hereunder after such date. <br />Section 7.10 Waiver. <br />The Trustor waives presentment, demand for payment, notice of dishonor, notice of <br />protest and nonpayment, protest, notice of interest on interest and late charges, and diligence in <br />taking any action to collect any Secured Obligations or in proceedings against the Security, in <br />connection with the delivery, acceptance, performance, default, endorsement or guaranty of this <br />Deed of Trust. <br /> <br /> <br />ARTICLE 8 <br />MISCELLANEOUS <br /> <br />Section 8.1 Amendments. <br />This Deed of Trust cannot be waived, changed, discharged or terminated orally, but only <br />by an instrument in writing signed by Beneficiary and Trustor. <br />Section 8.2 Reconveyance by Trustee.
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