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Deed of Trust Shoreline Single Family Element
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Deed of Trust Shoreline Single Family Element
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Last modified
8/4/2023 2:51:15 PM
Creation date
8/4/2023 2:50:50 PM
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CM City Clerk-City Council
Document Date (6)
3/7/2023
Recorded Document Type
Deed of Trust
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PERM
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Obligations, and shall bear interest from the date such expenses are incurred at the lesser of ten <br />percent (10%) per annum or the maximum rate permitted by law. <br />Section 5.3 Payment of the Principal. <br />The Trustor shall pay to the Beneficiary the Principal and any other payments as set forth <br />in the Note in the amounts and by the times set out therein. <br />Section 5.4 Personal Property. <br />To the maximum extent permitted by law, the personal property subject to this Deed of <br />Trust shall be deemed to be fixtures and part of the real property and this Deed of Trust shall <br />constitute a fixtures filing under the California Commercial Code. As to any personal property <br />not deemed or permitted to be fixtures, this Deed of Trust shall constitute a security agreement <br />under the California Commercial Code. <br />Section 5.5 Financing Statement. <br />The Trustor shall execute and deliver to the Beneficiary such financing statements <br />pursuant to the appropriate statutes, and any other documents or instruments as are required to <br />convey to the Beneficiary a valid perfected security interest in the Security. The Trustor agrees <br />to perform all acts which the Beneficiary may reasonably request so as to enable the Beneficiary <br />to maintain such valid perfected security interest in the Security in order to secure the payment of <br />the Note in accordance with its terms. The Beneficiary is authorized to file a copy of any such <br />financing statement in any jurisdiction(s) as it shall deem appropriate from time to time in order <br />to protect the security interest established pursuant to this instrument. <br />Section 5.6 Operation of the Security. <br />The Trustor shall operate the Security (and, in case of a transfer of a portion of the <br />Security subject to this Deed of Trust, the transferee shall operate such portion of the Security) in <br />full compliance with the Loan Documents. <br />Section 5.7 Inspection of the Security. <br />At any and all reasonable times upon seventy-two (72) hours' notice, the Beneficiary and <br />its duly authorized agents, attorneys, experts, engineers, accountants and representatives, shall <br />have the right, without payment of charges or fees, to inspect the Security. <br />Section 5.8 Nondiscrimination. <br />The Trustor herein covenants by and for itself, its heirs, executors, administrators, and <br />assigns, and all persons claiming under or through them, that there shall be no discrimination <br />against or segregation of, any person or group of persons on account of race, religious creed, <br />color, national origin, ancestry, physical disability, mental disability, medical condition, genetic <br />information, marital status, sex, gender, gender identity, gender expression, age, sexual <br />orientation, or veteran or military status in the sale, lease, sublease, transfer, use, occupancy, <br />tenure or enjoyment of the Security, nor shall the Trustor itself or any person claiming under or <br />
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