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Deed of Trust 15101 Washington Ave 07192022
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Deed of Trust 15101 Washington Ave 07192022
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Last modified
6/26/2024 5:27:21 PM
Creation date
6/24/2024 1:54:54 PM
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CM City Clerk-City Council
Document Date (6)
7/19/2022
Recorded Document Type
Deed of Trust
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PERM
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6. Fixture Filing. Subject to the rights of beneficiaries under Senior Deeds of Trust, this <br />Deed of Trust is intended to be and constitutes a fixture filing pursuant to the provisions of the <br />UCC with respect to all of the Property constituting fixtures, is being recorded as a fixture <br />financing statement and filing under the UCC, and covers property, goods and equipment which <br />are or are to become fixtures related to the Land and the Improvements. Trustor covenants and <br />agrees that this Deed of Trust is to be filed in the real estate records of Alameda County and shall <br />also operate from the date of such filing as a fixture filing in accordance with Section 9502 and <br />other applicable provisions of the UCC. This Deed of Trust shall also be effective as a financing <br />statement covering minerals or the like (including oil and gas) and accounts subject to the UCC, <br />as amended. Trustor shall be deemed to be the "debtor" and Beneficiary shall be deemed to be <br />the "secured party" for all purposes under the UCC. <br />7. Trustor's Representations, Warranties and Covenants; Rights and Duties of the Parties. <br />7.1 Representations and Warranties. Trustor represents and warrants that: (i) Trustor <br />lawfully possesses and holds a fee simple interest in the Land and the Improvements, (ii) Trustor <br />has good and marketable title to all of the Property; (iii) Trustor has the full and unlimited power, <br />right and authority to encumber the Property and assign the Rents; (iv) subject only to <br />encumbrances of record and senior liens permitted pursuant to the City Documents or otherwise <br />approved in writing by Beneficiary ("Permitted Encumbrances"), this Deed of Trust creates a <br />valid first lien on Trustor's entire interest in the Property; (v) except with respect to Permitted <br />Encumbrances, Trustor owns the Property free and clear of any deeds of trust, mortgages, <br />security agreements, reservations of title or conditional sales contracts, (vi) there is no financing <br />statement affecting the Property on file in any public office other than as disclosed in writing to <br />Beneficiary; and (vii) the correct address of Trustor's chief executive office is specified in <br />Section 10.2. <br />Trustor further represents and warrants that this Deed of Trust and all other documents <br />delivered or to be delivered by Trustor in connection herewith: (a) have been duly authorized, <br />executed, and delivered by Trustor; (b) are binding obligations of Trustor; and (c) do not violate <br />the provisions of any agreement to which Trustor is a party or which affects the Property. <br />Trustor further represents and warrants that there are no pending, or to Trustor's knowledge, <br />threatened actions or proceedings before any court or administrative agency which may <br />adversely affect Trustor's ownership of the Property. <br />7.2 Payment and Performance of Secured Obligations. Trustor shall promptly pay <br />when due the principal and any interest due on the indebtedness evidenced by the Note, and shall <br />promptly pay and perform all other obligations of Trustor arising in connection with the Secured <br />Obligations or the City Documents in accordance with the respective terms thereof. <br />7.3 Use of Loan Proceeds; Preservation and Maintenance of Property; Compliance <br />with Laws. Trustor covenants that it shall use the proceeds of the Loan (the "Loan Proceeds") <br />solely for purposes authorized by the City Documents. Trustor shall keep the Land and <br />Improvements in good repair and condition, and from time to time shall make necessary repairs, <br />renewals and replacements thereto so that the Property shall be preserved and maintained. <br />Trustor covenants to comply with all federal, state and local laws, regulations, ordinances and <br />
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